Tokenomics
This document aims to summarise the Talent Protocol token ($TAL) and Talent Tokens from a crypto-economic perspective. 💡 DISCLAIMER: This is a work in progress and subject to change in the future.
Growth in modern economies is primarily driven by human capital. The market for human capital, or talent, as we prefer calling it, is fierce and incentivizes participants to compete rather than cooperate. Looking at the supply side of the talent market, one can observe that participants tend to "look out for themselves." While not universally true, modern workplaces can be dog-eat-dog societies, where talented people have to tenaciously compete for career progression, even though they should theoretically be in high demand.
In practice, this can take many forms: throwing co-workers under the proverbial bus, leveraging your existing network, or even more malicious practices for those prioritizing growth over everything else. The emergence of social networks, while giving the individual more of a voice and theoretically being an equalizer in an uneven market, has only exacerbated this trend. They excessively reward skills as self-promotion and behaviors as grandstanding or gaming the networks' algorithms and are of little use for talented people that do not want to engage in such practices.
The blockchain economy can serve as a remedy. Its architecture is based on connecting and cooperating, as nodes of a network cannot function by themselves but create a powerful and sustainable community when cooperating.
Applying this to careers and creating aligned incentives will attract those to the Web3 space that find themselves unheard or undervalued in traditional careers, or simply choose to value cooperation over competition. The tokenomics of Talent Protocol are designed to help them create their own community with deeper financial and emotional alignment while still maintaining a focus on growth.
A key goal of the protocol is for the participants to cooperate to grow the ecosystem. Without collaboration, the system fails.
For season 1 we have a very simple agent system. There are three agents: Developers, Talent, and supporters.
Talent is any user that has launched his token through the protocol. They are individuals with a growth mindset looking for support in growing their careers through a dedicated network of supporters that are staked in their success.
Supporters are talent believers. They look to give back to the community of talent through joining them in their journeys by holding their talent tokens and creating an unbreakable bond. A talent can also be a supporter.
The interactions between these two agents (talent and supporter) are clear. Developers are the core team building the protocol. They are talent and supporters at the same time and they interact with talent and supporters in order to test the platform and align the roadmap with their needs.
It's still early to lay out all the possible participants, but we envision a lot more types of participants that can be part of the protocol.
- Companies
- Companies have an active interest in supporting talent. One of the biggest issues most companies face is in the HR department in hiring and retaining talent. If companies are perceived as being deeply invested in the individual's success, they will be able to tackle this problem in a non-standard way and be rewarded for supporting talent even when they leave your company
- DAOs
- The DAO case is similar to the company case, except when we're talking about talent retention we are talking about contributor retention. DAOs enable fluidity of contribution and collaboration. That means that attracting top talent is easier than retaining them.
- Partners
- Partners can be seen as entities whose business model is actually educating talent and growing talent. We can refer to educational entities like universities, coding bootcamps, Alchemy.DAO and so on.
- Syndicates
- Some of the most successful people are people that do not have time to spend on 1-1s directly with talent in order to help them grow, but they have the most to gain from growing certain areas of work, the areas where they work. Elon Musk could want to set up a syndicate to support any talent who wants to or is working on the space or energy space.
Last modified 1yr ago