Going Out as Tokens
By: Jaap Coinranking
Tags: Blockchain, Token, Cryptocurrency

Coinranking.com has over three thousand tokens listed at the moment. Some tokens are a direct copy of other tokens, but many tokens have an unique mission and strategy. In order to keep a clear understanding of all these different tokens, they are distinguished in several token categories. I have explained each category we use in an article on our support page, so I thought it would be fun to make it more comprehensible in a different way by placing the different tokens in a scenario: I’ll compare a couple of them to a group of friends going out.

The one with the initiative

I’ll start with the currency token. This would be that one friend with the initiative and social skills. He starts the notion of going out and convinces everyone to go. He is also the one that starts to talk with strangers. He doesn’t have a sound judgement of his limits and can get very drunk. Currency tokens are arguably the most attractive to people at first, since their function is simple and similar to fiat currencies.

The one who organizes

The utility token is the friend, who organizes everything. He is the one who comes with an idea of which club to go to. He talks to the bouncers to ask if the group can go inside the club. He is the one who comes with the idea to get a midnight snack and the one to hail a cab. It doesn’t matter how drunk he is. Even if utility tokens lose their financial value, they still can be equally useful with the services they give access to.

The one who keeps the group together

The voting token is the loyalist of the group. He is the friend who makes sure there are no problems within a group and everyone has a great time. A voting token aims to create democracy and helps to govern decentralized autonomous organisations in order to prevent disputes and to have a community that works smoothly.

The one who prevents trouble

Stablecoins are the friends that make sure the group doesn’t get into trouble. The stablecoin is more passive, follows the group and stays sober enough so the others can turn to him when they are in trouble. When the prices drop of other coins, a stablecoin is there to pick you up and to keep the system alive.

The one who smells opportunities

The equity token is the entrepreneur of the group. He is the person, who suggests to go to the casino and to distribute collective profits. He always sees opportunities and tries convince everyone to join in. An equity coin tries to make something new possible with help of the collective it creates.

The Wildcard

The last member is the memecoin, a coin I have not described in my list. The memecoin is the person, who drinks too much and has all the bad and funny ideas. He only sees the near future. He is the player of the group and the one who gets arrested. He is trouble in person, but fun to hang out with. If he doesn’t do something adventurous, he’ll always have a hilarious story about a previous adventure to tell. Memecoins can become very popular and become more serious as a consequence of that popularity, but a memecoin always starts as a joke to lighten the mood of the crypto space. A memecoin’s nature is actually to be a less serious currency token.