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Thanks for sharing your approach on crypto asset valuations. Here at PARKGENE (https://parkgene.io/) we found your approach super interesting and very helpful. Actually we went about using your methodology in order to understand the way that certain aspects of our underlying economy might affect the token price. This led us to a somewhat different approach which we would also like to share.
In reality, a small percentage of the crypto currency in the float is likely to exchange hands a lot more, while a larger percentage will be locked in holder’s hands. Economists Alfred Marshall, A.C. Pigou, and John Maynard Keynes, associated with Cambridge University (https://en.wikipedia.org/wiki/Equation_of_exchange), focusing on money demand instead of money supply, argued that a certain portion of the money supply will not be used for transactions, but instead it will be held for the convenience and security of having cash on hand. This proportion of cash is commonly represented as (k) , a portion of nominal income (nY ). The Cambridge equation for demand for cash balances is thus:
Md=k ( nY)
which, given the classical dichotomy and that real income must equal expenditures Q is equivalent
to
Md=k P Q
Assuming that the economy is at equilibrium Md=Ms, that real income is exogenous, and that (k) is fixed in the short run, the Cambridge equation is equivalent to the equation of exchange with velocity
equal to the inverse of (k):
M 1/k =P Q.
We found that this equation provides a more accurate pricing tool for utility tokens. Instead of assuming a value for velocity we assume a value for (k) (percentage of tokens held). The higher the percentage the higher the utility value as less tokens are in circulation. It could be argued that as the economy matures the higher propensity to hold on to tokens. This would in return increase our utility values going forward.
As all this is very experimental we eagerly await your view on our methodology. Please feel free to contact me if you wish to discuss further on the matter as I surely would. nskarlatos@parkguru.com
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