Bridging Onchainomics with Decentralised Social

The article argues that on-chain ecosystems such as Base and Farcaster can be analyzed as economies, using a modified GDP framework it calls GDEP (Gross Decentralised Ecosystem Production), which treats a single blockchain as a distinct domestic economy. It classifies gas fees, DeFi service fees, on-chain content payments, utility token payments, NFT purchases and gaming expenditures as consumption, and it notes that these activities are largely elastic, unlike essential goods such as food and healthcare. The author concludes that on-chain economies need greater integration with traditional economic structures and a focus on fundamental human needs to be sustainable. The article cites Bown and Kolb (2022) on the U.S.-China trade dispute after 2018 as an example of deglobalisation, and it presents the Cobb-Douglas production function as background for its discussion of on-chain labour and capital.