Fundamentals··9 min read
DeFi Tokenomics Explained for Researchers
Decode DeFi tokenomics: emissions, unlocks, fee switches, and why float matters more than fully diluted valuation screenshots.
By Alphora Labs Research Desk · Educational content · Not financial advice
FDV is a headline; float is the market
Fully diluted valuation assumes all tokens trade today. They do not. Unlock cliffs create forced sellers. Map the next 90 days of supply before you debate narrative.
Value accrual vs governance cosplay
Ask whether fees, buybacks, or staking actually route value to the token — or whether the token is a marketing sticker on a product that does not need it.
Keep researching
- Tokenomics
- FDV
- Token unlocks
- How to Research Cryptocurrency Like a Desk AnalystA practical crypto research framework: narrative, liquidity, tokenomics, catalysts, and risk — without drowning in charts and Twitter noise.
- AI Crypto Research Tools: What Actually Helps (and What Doesn’t)How to use AI for crypto research without hallucinated theses — desk-style briefs, risk prompts, and when human judgment still wins.
- Crypto Portfolio Tracker Guide: Baskets, P&L, and ConvictionHow to track a crypto portfolio without spreadsheet chaos — baskets by thesis, live P&L, and linking holdings to research briefs.