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RE: Explain ONO To Me Like I’m 5

in #ono7 years ago

Thanks for this explanation. It was very easy to read and understand and I really like the idea. I’m sure all of us are rooting for a great dApp social platform that can help take some of the power away from Facebook and chip into the monopoly. I’m interested in learning more about the mechanics of the token and what gives it monetary value. I did read section 4 of the white paper and I think I get the general premise of what you’re saying with the ginger anecdote, but I’m always cautious about native tokens. Obviously I believe that internal currencies can work or else Steemit wouldn’t function, but that’s because Steemit is run on Steem itself and your success on the platform relies on you investing in it and holding it either through content creation or through direct monetary investment. So I’m curious to know if there’s an equivalent way that people will be incentivized to hold ONOT.

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The value of ONOT will be created organically through creating a social media network where people come first. It will take time, and so the early builders of ONO are critical to building the social fabric.