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The supply rules, allocation, distribution schedule, utility, and incentives surrounding a token.
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영어 원문 읽기 →A tokenomics investigation starts with the mechanism that changes supply and the parties allowed to invoke it. Minting creates units; burning destroys them; transferring existing units changes ownership. A document describing a maximum supply is only one piece of evidence: the implemented contract, authorized roles, and any upgrade process determine how that policy is enforced. ERC-5679 illustrates explicit mint and burn interfaces for token contracts. Those interfaces do not themselves guarantee that a particular project restricts issuance or protects holders against dilution.
Allocation explains who receives tokens, while vesting explains when a beneficiary can withdraw an allocation. OpenZeppelin's VestingWallet is a concrete example of a contract that releases funds against a schedule. Its documentation also exposes important details: funds deposited after vesting begins can be partly releasable immediately, and transferable wallet ownership can allow an unvested economic claim to change hands. Reading an allocation chart without examining these rules can give an incomplete picture of who controls the future supply available for sale.
Ethereum offers a useful example of interacting monetary mechanisms: validators receive newly issued ETH, while transaction base fees are burned. The net supply change depends on both processes, so a burn mechanism alone does not establish that supply always falls. For another token, inspect the corresponding issuance rules, recipient incentives, fee flows, and governance powers rather than copying Ethereum's conclusions.
Our analytical takeaway is to build scenarios from those mechanisms: a supply schedule describes quantities and timing, but does not by itself establish future demand or market price.