Introducing Token Terminal: financial metrics for blockchain protocols
Token Terminal is a site that tracks financial metrics for blockchain protocols. These metrics are intended to be comparable to traditional financial metrics, such as Earnings per Share and the Price to Earnings Ratio. Today, the site is launching with simple metrics on the MakerDAO and Augur protocols. Future work will be done to improve the precision of calculations, and add new metrics and blockchain protocols to the site. Note, this is an early release and the site will be continually updated.
One of the more common misconceptions about tokens is that they are non-productive assets. Blockchain protocols produce open, global, and cost-efficient services. Blockchain protocols enable worldwide marketplaces on the Internet. The rules of the value transfer are encoded straight into the blockchain protocol. The programmability of blockchain protocols means that they can be used to produce services by a peer-to peer-network directly to a global audience. A token gives its owner both economic and governance rights, similar to traditional company shares.