diff --git a/tokenomics/README.md b/tokenomics/README.md
index f306f6e..4070789 100644
--- a/tokenomics/README.md
+++ b/tokenomics/README.md
@@ -1,9 +1,7 @@
## 🍿 tokenomics for defi projects
-
-
-### on projects
+### projects
* [dydx tokenomics](https://docs.dydx.community/dydx-governance/start-here/dydx-allocations)
* [redacted cartel tokenomics](https://tokenomicsdao.substack.com/p/tokenomics-101-redacted-cartel-btrfly?utm_source=substack&utm_medium=email)
@@ -13,80 +11,39 @@
---
-### tl; dr
+### supply
-#### tokenomics factors
-
-
-
-* math
-* supply vs. demand
-* incentives
-* value accrual
-* human behavior & game theory
-
-
-
-----
-
-#### main questions
-
-
-
-* How many tokens are in existence?
-* How many tokens will there be in total?
-* Who has the supply? WHEN can they sell?
-* How will the supply change over time?
-* What are their policies for changing?
+* **Circulating supply:** How many tokens are in existence (in the market)?
+* **Max supply:** How many tokens will there be in total?
+* **Total suppply:** all tokens already issued minus the ones that were burned/locked.
+> If the circulating supply is low while the total and max are high: red flag as the value of your coins will get diluted away (more coins created will put pressure on the price).
+> The monetary policy in crypto dictates whether a coin is inflationary or deflationary and by how much, as well as the overall consensus mechanism for the project.
---
-#### concerns
-
-
-
-* The tokens were inflationary without enough utility.
-* Concentration of tokens by VCs & whales led to retail getting dumped on.
-* Understanding the market cap would show that it's impossible.
+### liquidity and valuation
+* **Fully diluted valuation:** How will the supply change over time?
+* **Market cap**: Current Price * circulating supply
+* **Fully Dilute:** Market cap: Price * max supply.
---
-#### supply metrics
+### distribution
-
+* **Holders**: Who has the supply? WHEN can they sell?
+* **DAOs/project research**: What are their policies for changing?
-* Supply: How many tokens exist NOW
-* Max supply: The most that can exist
-* Market Cap: Current Price * circulating supply
-* Fully Diluted MC: Price * max supply.
-
-
-
-
-* for example, it's not a good sign that a circulating supply was only at 40%. That means the supply will increase by 60%.
- * More coins created will put pressure on the price.
-* another example, Dogecoin is an inflationary token: its supply is increasing each year, and there's no CAP on the supply.
- * this isn't good for Tokenomics because it's the opposite of Scarcity. Some coins can become deflationary when the supply DECREASES over time.
-
-
-
----
-
-#### allocation & distribution
-
-
+> A good distribution design is when no single person or group holds a large amount of the coin, instead, it’s distributed among many individuals.
* how are the initial tokens distributed? There are roughly 2 ways:
-
-
##### pre minted
1. The team distributes tokens to itself.
@@ -100,31 +57,37 @@ Vesting means when they're allowed to sell the tokens. You want to make sure tha
* 100% fair. Everyone has equal access.
-
-
-
-
+
---
-#### what drives the demand
+### concerns
+
+
+* The tokens were inflationary without enough utility.
+* Concentration of tokens by VCs & whales led to retail getting dumped on.
+* Understanding the market cap would show that it's impossible.
+---
+
+### what drives the demand
+
* Utility (gas, fun, adoption)
* Value Accrual (xStaking, governance)
* The Memes and Narratives
+
-
-
---
+
### resources and tools
@@ -137,6 +100,3 @@ Vesting means when they're allowed to sell the tokens. You want to make sure tha
* [The Reverse Liquidity Bootstrapping Pool](https://tokenomicsdao.substack.com/p/the-reverse-liquidity-bootstrapping)
-
-
-