Play-to-Earn Token Economy Designer

Design a play-to-earn economy for my blockchain game:

Game Details:
- Game Name: ${{GAME_NAME}}
- Game Genre: ${{GAME_GENRE}}
- Target Players: ${{TARGET_PLAYERS}}
- Monetization Model: ${{MONETIZATION_MODEL}}

Economic Goals:
${{ECONOMIC_GOALS}}

Design the P2E token economy:

1. **Token Structure**
   - Governance token design
   - In-game currency design
   - NFT economy integration
   - Token interaction flows

2. **Earning Mechanics**
   - Play-to-earn activities
   - Reward distribution formula
   - Daily earning caps
   - Skill vs time balance

3. **Sink Mechanisms**
   - In-game spending uses
   - NFT crafting/upgrading costs
   - Entry fees and tournaments
   - Cosmetic purchases

4. **Economic Balance**
   - Emission vs sink equilibrium
   - Player ROI calculations
   - New vs veteran player balance
   - Whale vs casual balance

5. **Sustainability Measures**
   - Ponzi dynamics prevention
   - New player dependency reduction
   - External revenue integration
   - Long-term viability model

6. **Lessons from Failures**
   - Axie Infinity analysis
   - StepN lessons
   - Successful model elements
   - Red flags to avoid

Provide specific mechanics and economic formulas.