Design and Evaluation of CryptoKen: A Tokenomics-driven Ethereum Cryptocurrency with Governance and Interoperability Features
Keywords:
CryptoKen, Cryptocurrency, Decentralized governance, Ethereum, Quadratic voting, TokenomicsAbstract
CryptoKen is presented as an ERC-20 governance token that utilizes quadratic voting to increase engagement in decentralized applications (dApps) and overcome the governance challenges, including voter disengagement, of most token-based systems. The token was developed in Solidity ^0.8.20 and evaluated through unit and integration testing with Foundry, static analysis using Slither v0.10.0, fuzz testing with Echidna v2.1.0, user acceptance testing (UAT) involving 22 participants, and gas consumption benchmarking on a forked Sepolia testnet. The evaluation achieved 92% statement coverage (solidity-coverage v0.2.5; GitHub Actions run #123), successful execution of all 35 integration test scenarios, and no critical vulnerabilities reported in static analysis. UAT results indicated high usability, with a median System Usability Scale (SUS) score of 82.5 (IQR: 75–87.5). The outcomes highlight a reproducible methodology for assessing governance tokens, demonstrating that CryptoKen’s quadratic voting mechanism and simplified interface effectively address usability and technical challenges while providing a scalable foundation for advancing Decentralized Autonomous Organization (DAO) systems.
References
CryptoKen is presented as an ERC-20 governance token that utilizes quadratic voting to increase engagement in decentralized applications (dApps) and overcome the governance challenges, including voter disengagement, of most token-based systems. The token was developed in Solidity ^0.8.20 and evaluated through unit and integration testing with Foundry, static analysis using Slither v0.10.0, fuzz testing with Echidna v2.1.0, user acceptance testing (UAT) involving 22 participants, and gas consumption benchmarking on a forked Sepolia testnet. The evaluation achieved 92% statement coverage (solidity-coverage v0.2.5; GitHub Actions run #123), successful execution of all 35 integration test scenarios, and no critical vulnerabilities reported in static analysis. UAT results indicated high usability, with a median System Usability Scale (SUS) score of 82.5 (IQR: 75–87.5). The outcomes highlight a reproducible methodology for assessing governance tokens, demonstrating that CryptoKen’s quadratic voting mechanism and simplified interface effectively address usability and technical challenges while providing a scalable foundation for advancing Decentralized Autonomous Organization (DAO) systems.
