What Are Some Key Characteristics That Demonstrate a Network Is “Functional”?

A network is typically deemed "functional" when its core product or service is live, usable, and has achieved a level of decentralization where its continued operation and success are not solely reliant on the founding team. Key characteristics include: the token being actively used for its intended utility (e.g. paying transaction fees or accessing services), a significant number of independent third-party developers contributing, and the founding team's control over the network's governance being diminished or eliminated.

A high volume of consumptive use is a strong indicator.