One framing I keep coming back to is this: tokenomics is the monetary policy of a protocol — ignore it and you are flying blind. Desk note: Token supply schedules, emission rates, burn mechanics and vesting unlocks together determine the selling pressure and scarcity of a token over time. Why investors care: That matters because even a fundamentally useful protocol can have terrible price performance if the token supply is hyperinflationary. Translate it into behavior: A protocol that unlocks 10% of total supply every quarter creates constant selling pressure from early investors, regardless of adoption metrics. Where people usually get tripped up: The mistake is evaluating a crypto project on utility alone without modeling the token supply dynamics. Keep this nearby on the next review: A useful review question is which funding, incentive or cash-flow channel is actually doing the work. The point is not to memorize the label. The point is to know what variable is actually doing the work.