# kaal:claim:3782210-031

**Claim.** A reputation token is inherently worth more to the person who earned it than to someone who merely bought it, because of its secondary use in making future earnings, so reputation is harder to accumulate than cash and economies of scale are weakened.

**Type.** mechanism  **Support.** argued

**Holds when.**

- non-fungible reputation tokens with individual slashable histories

**Source quote.**

> A reputation token is inherently more valuable for a person who deserves it, than for someone who merely bought it, because of its secondary use in making future earnings.

**From.** Craig Calcaterra, Wulf A. Kaal, *The Importance of Reputation for the Evolution of Decentralization* (2021), Security, page 11

**Cite as.** Craig Calcaterra, Wulf A. Kaal, The Importance of Reputation for the Evolution of Decentralization (2021). SSRN: https://ssrn.com/abstract=3782210

**Verify.** sha256 of source PDF `9cc531ab239f6266c8aeddcc8e54f4c06029c44e825444bee137bbcc0c9d0a8e` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Calcaterra%20and%20Kaal%20-%202021%20-%20The%20Importance%20of%20Reputation%20for%20the%20Evolution%20of%20Decentralization.pdf

**Topics.** tokenomics, defi, economics, reputation

**Keywords.** non-fungibility, token-liquidity, economies-of-scale, reputation

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