The core of tokens lies in 'Tong' and 'Zheng', which represent liquidity, universality, and value consensus respectively. The liquidity of tokens benefits from blockchain technology, allowing for global and round-the-clock circulation, surpassing traditional finance. Their universality is broad, capable of representing various rights and interests. The value of tokens comes from community consensus, which is key to the success of their ecosystem. Token economies pursue the maximization of overall market value and the interests of stakeholders, forming a positively developing ecology. Tokens have diverse attributes, but two core attributes define their essence. First is 'Tong', symbolizing liquidity and universal applicability, which is a key characteristic of tokens as a medium of value. Second is 'Zheng', which forms the basis of value consensus. Additionally, although theoretically not essential, in practical business applications, the attribute of 'value' is crucial; without the existence of value, tokens lose their meaning. Tradable, as rights certificates, are valuable; the token economy is bound to replace the stock economy, and Bitcoin is the first token of consensus for all humanity.