Equation 5 · The Unit Economics of a Token
What does this equation mean?
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the five counts in that order and each p is the corresponding published rate. Read the equation part by part below; each part has a contextual explanation and a link to its mathematical background.
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Symbol y
the five counts in that order and each p is the corresponding published rate.
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What the article says around this equation
where n , w , r , y and z are the five counts in that order and each p is the corresponding published rate. The important feature is the last term: visible output and reasoning share one price, and the reasoning count is the only one of the five you cannot recover by inspecting what came back.
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