LIBERTY (LBRTY)

What is LIBERTY

We provide a dynamic asset-pricing model of (crypto-) tokens on (blockchainbased) platforms. Tokens intermediate peer-to-peer transactions and their trading creates inter-temporal complementarity among users and generates a feedback loop between token valuation and adoption. Consequently, tokens capitalize future platform growth, accelerate adoption, and reduce user-base volatility. Equilibrium token price increases non-linearly in platform productivity, user heterogeneity, and endogenous network size. Consistent with evidence, the model produces explosive growth of user base after an initial period of dormant adoption, accompanied by a run-up of token price volatility. Blockchain-based cryptocurrencies and tokens have taken the world by storm.

The model equilibrium features an inter-temporal complementarity of user base – expectation of more users in the future feeds into more users today. Nevertheless, we show there is a unique nondegenerate Markov equilibrium under standard regularity conditions of continuous-time models.

Liberty token will be listed on three main token wallet platforms namely

These three platforms guarantee security, speed and convenience of use.