Tokeneconomics survey: Post approval changes (#1812)

* Scope: Top-6

The existing literature was deeper than expected, but also much narrower than
expected. Unfortunately, this means there are not 10 articles that fit
the grant scope. It has also meant that distilling the analysis has taken
much more time than expected.
I have expanded the scope of published articles from
Dec 2022 to the current date to capture one article I judge to be
significant.
The current articles cover bubble-coins, dampened-coins,
breakable-coins and redeemable-coins.
These cover most, if not all, characteristics of existing coins.

Signed-off-by: Mark Van de Vyver <[email protected]>

* Delivery extensions

The existing literature was deeper than expected. This meant that distilling
the analysis has taken much more time than expected. I have also had
delays in setting up the legal entities through my accountant - its tax
season right now - hence the delay in submitting the details for the
Milestone payments.

Signed-off-by: Mark Van de Vyver <[email protected]>

* Expanded scope of application

Substrate is being merged into Polkadot and is now formaly and
practically under the rubric of the 'Parity Polkadot SDK ...
(basically, that’s Substrate, Polkadot, Cumulus and XCM)'.

See: https://web.archive.org/web/20230621013047/https://forum.polkadot.network/t/psa-parity-is-currently-working-on-merging-the-polkadot-stack-repositories-into-one-single-repository/2883/13

Polkadot uses one specific coin model. This project
envisions/contemplates token designs that improve on DOT or even
conflict with DOT.
These changes address that broader audience.

Signed-off-by: Mark Van de Vyver <[email protected]>

* Reviewer feedback

Signed-off-by: Mark Van de Vyver <[email protected]>

---------

Signed-off-by: Mark Van de Vyver <[email protected]>

applications/tokenomics-survey-2022.md

@@ -1,4 +1,4 @@
-# Substrate Tokenomics
+# Tokenomics Scoping Review: Annotated Bibliogrphy
 
 - **Team Name:** Mark Van de Vyver [PhD(Dist)](https://www.student.uwa.edu.au/course/award-verification-service?family=van+de+vyver&family_partial=on&given=mark&search=Search)
 - **Payment Address:** 15WoVugRLfBAogS1FBmhzxVv8WZqZK1z4KKHALijTZfdVcCm (USDC)
@@ -14,21 +14,20 @@ This is a survey, hence limited to topics the existing literature addresses. Wit
 The report/working paper will be posted to [SSRN (e.g. FEN - Cryptocurrency Research eJournal)](https://papers.ssrn.com/sol3/JELJOUR_Results.cfm?form_name=journalBrowse&journal_id=3839004), [IDEAS](https://ideas.repec.org/), [Arxiv (q-fin.GN)](https://arxiv.org/list/q-fin.GN/recent).
 
 - Description:
-  The decision making of Substrate developers (and other stakeholders) is assisted if a hypothetical/proposed token-economy can be described by reference, or analogy, to a known working/successful token-economy. Absent an existing implementation, developers are left to invent a token-economy, try to adapt an existing non-blockchain experience to a blockchain, or try to adapt non-blockchain ideas to a blockchain.
+  The decision making of developers (and other stakeholders) is assisted if a hypothetical/proposed token-economy can be described by reference, or analogy, to a known working/successful token-economy. Absent an existing implementation, developers are left to invent a token-economy, try to adapt an existing non-blockchain experience to a blockchain, or try to adapt non-blockchain ideas to a blockchain.
 - This project provides a annotated bibliography to help think through various choices and their trade-offs. It does so by reviewing the current state of play, as it is described in: a) published general-blockchain research, b) Polkadot whitepapers. It does not offer the answer to any particular token-economy design question.
-- Substrate integration:
-  With Substrate Token-Economy networks in mind, I aim to provide a annotated bibliography of existing general-blockchain token-economy research.
-  Specifically, the central features and concerns across Polkadot Parachain Token-Economy networks will be identified.
+- With general Token-Economy networks in mind, I aim to provide a annotated bibliography of existing general-blockchain token-economy research.
+  For practical context, the central features and concerns across Polkadot Parachain Token-Economy networks will be identified.
   Ultimately, the reader should learn something about those features of the token-economies of Polkadot Parachain  networks and understand how some of the issues raised by the general-blockchain token-economy research are addressed by Polkadot Parachain token-economy designs, while others are not.
   Summary tables will highlight the key differentiating characteristics of different Polkadot Parachain  network token-economies.
 - Motivation:
-  A project we are developing envisions the use of Substrate relay and Parachains in such a manner that our (imagined) token use is, apparently, novel. The state of play in Polkadot Parachain token-economics appears to be a debate [around staking and inflation](https://forum.polkadot.network/t/should-parachains-have-staking-inflation/806). A search of docs.substrate.io for "tokenomics" and "token-economics" returns no results. We had expected a reference to, or high-level summary of, the token-economies of parachains elected to the Polkadot relay chain.  Ideally, we hoped to find high level descriptions of some token-economy features that are enabled by the distinct features of Substrate and its pallets, possibly with links to case studies or other resources. This annotated bibliography will provide some of that information.
+  A project we are developing envisions the use of the [Open Web3 Stack](https://github.com/open-web3-stack) relay and Parachains in such a manner that our (imagined) token use is, apparently, novel. The state of play in Polkadot Parachain token-economics appears to be a debate [around staking and inflation](https://forum.polkadot.network/t/should-parachains-have-staking-inflation/806). A search of docs.substrate.io for "tokenomics" and "token-economics" returns no results. We had expected a reference to, or high-level summary of, the token-economies of parachains elected to the Polkadot relay chain.  Ideally, we hoped to find high level descriptions of some token-economy features that are enabled by the distinct features of the [Open Web3 Stack](https://github.com/open-web3-stack) and its pallets, possibly with links to case studies or other resources. This annotated bibliography will provide some of that information.
 
 ## Project Details
 
 ### The problem
 
-A search of docs.substrate.io for "tokenomics" and "token-economics" returns no results. We had expected a reference to, or high-level summary of, the token-economies of parachains elected to the Polkadot relay chain.  Ideally, we hoped to find high level descriptions of some token-economy features that are enabled by the distinct features of Substrate and its pallets, possibly with links to case studies or other resources. This annotated bibliography will provide some of that information.  Inclusion of any of this information in Substrate/Polkadot documentation is out of scope.
+A search of docs.substrate.io for "tokenomics" and "token-economics" returns no results. We had expected a reference to, or high-level summary of, the token-economies of parachains elected to the Polkadot relay chain.  Ideally, we hoped to find high level descriptions of some token-economy features, possibly with links to case studies or other resources. This annotated bibliography will provide some of that information.  Inclusion of this information in any documentation is out of scope.
 
 ### Research questions/hypothesis
 
@@ -67,7 +66,7 @@ Each section of the report/working paper will be developed using some subset of
 
 #### Published articles
 
-The initial source of the published research will be the top-10 articles selected by the grantee, using the commercial research databases available from the State Library of New South Wales by operationalizing the following inquiry, "Refereed articles on block-chain token-economics using rational expectations equilibrium (a.k.a. no-arbitrage) arguments/analysis, ranked by journal impact factors". This initial source may be adjusted at the grantees discretion based on his expertise.  The selection process will be fully described and documented.
+The initial source of the published research will be the top-6 articles selected by the grantee, using the commercial research databases available from the State Library of New South Wales by operationalizing the following inquiry, "Refereed articles on block-chain token-economics using rational expectations equilibrium (a.k.a. no-arbitrage) arguments/analysis, ranked by journal impact factors". This initial source may be adjusted at the grantees discretion based on his expertise.  The selection process will be fully described and documented.
 
 #### Polkadot Parachain whitepapers
 
@@ -123,10 +122,9 @@ The report/working paper will be posted to [SSRN (e.g. FEN - Cryptocurrency Rese
 - Game theory, behavioral economics/finance.
 - Empirical inference of token-economy attributes from time-series or cross-sectional regression analysis.
 - A review of the general economic modeling literature i.e. not related to blockchains.
-- Substrate/Polkadot documentation.
 - Verifying the network token-economy has been implemented as specified in the network whitepaper.
 - Verifying the network whitepaper assumptions are a reasonable/plausible description of the network participants.
-- Inclusion of any of this information in Substrate/Polkadot documentation.
+- Inclusion of any of this information in any project documentation.
 
 #### Crypto-Currencies
 
@@ -138,7 +136,7 @@ Equilibria are generally explicitly constructed (which proves existence) using c
 - Where and how does your project fit into the ecosystem?
   - Research into the design of a token-economy and survey of Polkadot token-economies.
 - Who is your target audience?
-  - Polkadot/Substrate Relay and Parachain developers.  Industry analysts/advisors (media and investors).
+  - Blockchain developers.  Industry analysts/advisors (media and investors).
 - What need(s) does your project meet?
   Developers and analysts need to understand the relevant literature available when developing their token-economy.
   The literature we canvas both theoretical (refereed articles) and applied (network whitepapers).
@@ -203,7 +201,7 @@ Personal
 - As requested, I have adjusted the source of the research to eliminate myself as the source of bias in the collection of research papers.
 - academic publications relevant to the problem:
   One of the products from this research will be such a listing under these categories:
-  1. Published articles: As requested, to eliminate bias (and constrain budget) in the collection of research papers, the initial source of the published research will be the top-10 articles provided by the State Library of New South Wales information search service in response to the following query, "Refereed articles on block-chain token-economics using rational expectations equilibrium (a.k.a. no-arbitrage) arguments/analysis, ranked by journal impact factors"
+  1. Published articles: As requested, to eliminate bias (and constrain budget) in the collection of research papers, the initial source of the published research will be the top-6 articles provided by the State Library of New South Wales information search service in response to the following query, "Refereed articles on block-chain token-economics using rational expectations equilibrium (a.k.a. no-arbitrage) arguments/analysis, ranked by journal impact factors"
   2. Polkadot Parachain whitepapers: These are from projects that are Polkadot-Parachains as at 19 December 2022.
 - links to your research diary, blog posts, articles, forum discussions or open GitHub issues:
   - [Tokenomics: Grant models](https://forum.polkadot.network/t/tokenomics-grant-models/1266)
@@ -251,7 +249,7 @@ Initial flow-chart/decision-tree development that will help developers place the
 
 ### Milestone 2 — Outline Article
 
-- **Estimated duration:** 1 month
+- **Estimated duration:** 2 month
 - **FTE:**  0.2
 - **Costs:** 3,000 USD
 
@@ -268,7 +266,7 @@ Initial flow-chart/decision-tree development that will help developers place the
 
 ### Milestone 3 — Finalize Article
 
-- **Estimated Duration:** 1 month
+- **Estimated Duration:** 2 month
 - **FTE:**  0.2
 - **Costs:** 4,000 USD
 
@@ -307,7 +305,7 @@ Please include here
 - how you intend to use, enhance, promote and support your project in the short term, and
   - The working paper will be posted to [SSRN (e.g. FEN - Cryptocurrency Research eJournal)](https://papers.ssrn.com/sol3/JELJOUR_Results.cfm?form_name=journalBrowse&journal_id=3839004), [IDEAS](https://ideas.repec.org/), [Arxiv (q-fin.GN)](https://arxiv.org/list/q-fin.GN/recent) and the Polkadot forum.
 - the team's long-term plans and intentions in relation to it.
-  - Engage in a more forward-looking/positive analysis of how to design an aspect of the Substrate/Polkadot token-economy that addresses a current need.
+  - W3F Grant Proposal to implement and document one token model as an example/template of building a blockchain on the W3F [Open Web3 Stack](https://github.com/open-web3-stack) having known 'on-paper' coin characteristics.
   - Create RFP's addressing pallet functionality gaps that are identified in the course of the above.
 
 ## Additional Information :heavy_plus_sign: