Boss: Exam + Tear-down Review

Boss Challenge: Tokenomics Exam and Tear-Down Review

This is your Level 6 final. You'll demonstrate mastery of tokenomics analysis and due diligence through a practical exam and a full tear-down submission.

Part 1: Concept Questions

Answer these in writing. Not multiple choice — write your answers in your own words.

1. A token has a 15% annual staking APY and a 14% annual emission rate. What is the real return for a staker? What about a holder who doesn't stake?

2. Token A has FDV/MC of 2.0 and Token B has FDV/MC of 8.0. Both have the same market cap. Which has more dilution risk and why? What specific information would you need to quantify the risk?

3. A project allocates 45% of tokens to team and VCs with a 12-month cliff. The cliff is in 2 months. You like the project's fundamentals. What do you do?

4. Explain the difference between a utility token and a narrative token. Give one example of each and explain how your investment approach would differ.

5. A token has guaranteed staking returns of 50% APY. The team is anonymous. The code is closed source. How many red flags does this trigger, and what would you do?

Part 2: Tokenomics Scorecard Practice

Score these two hypothetical tokens using the scorecard from Lesson 6:

Token Alpha:

• Fixed max supply of 100 million tokens
• 72% currently circulating
• Team (15%) + VCs (18%) = 33% insider allocation
• Linear vesting, 1.5% monthly unlock remaining
• DeFi protocol with 500 crore TVL and growing 10% monthly

Token Beta:

• No max supply, 22% annual emissions for staking
• 18% currently circulating
• Team (25%) + VCs (30%) = 55% insider allocation
• Cliff unlock of 12% of supply in 4 months
• Testnet only, no live product, strong social media following

Score both tokens. Show your work for each category. Then state which one you'd invest in and why.

Part 3: Full Tear-Down Submission

Write a complete Tokenomics Tear-Down (using the template from Lesson 9) for a real token ranked between 50 and 300 on CoinMarketCap. Requirements:

• All six sections must be complete with specific numbers
• Include your tokenomics scorecard score with the breakdown
• Compare at least 2 metrics to a direct competitor
• Include a clear buy/watch/avoid decision with reasoning
• Identify the single biggest tokenomics risk and what would trigger you to exit

Part 4: Self-Assessment

After completing Parts 1-3, answer:

1. Which concept from this level was hardest for you? Why?
2. Did your tear-down change your opinion about a token you were previously interested in?
3. Looking at your current portfolio, which holding has the worst tokenomics score? Should you do anything about it?
4. What's one tokenomics metric you'll now check before every purchase?

Passing Criteria

• Part 1: All 5 questions answered with specific reasoning (not just "yes" or "no")
• Part 2: Both tokens scored correctly with work shown. Decision explained.
• Part 3: Complete tear-down with no blank sections, specific numbers, and a clear conclusion
• Part 4: Honest self-assessment with at least one actionable takeaway

If any part is incomplete, go back and finish it. Level 7 (Crypto Cycles) assumes you can evaluate any token's tokenomics without hand-holding.

Checklist

• Part 1: All 5 concept questions answered
• Part 2: Both tokens scored with work shown
• Part 3: Full tear-down completed for a real token
• Part 4: Self-assessment completed
• All answers use specific numbers, not vague statements
• You can explain every answer if someone asked "why?"