To Token, Or Not To Token Discussion
summary
Explains a concrete checklist: a token must be necessary to a self sustaining public utility (Mike s cryptosystems manifesto), avoid overraising (examples of teams hit with $25M and immediate operational collapse), expect six figure legal costs to beat the Howey test, and consider alternatives like VC, grants, airdrops or build first then sell. Describes colony s safety/SAFT iteration, dual token patterns (Maker, Gnosis), banking and KYC/AML friction, and why timing and amount determine whether a token sale actually works.
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