Structured Access via SAFT

# Structured Access via SAFT ## A Compliant Pathway for Early Contributors SAFT (Simple Agreement for Future Tokens): A legal agreement used by the ECSA Foundation for its early contribution rounds. It allows qualified contributors to provide Capital ( C ) now in exchange for the right to receive a specified amount of ECSA tokens, if and when the necessary parts of the ECSA Protocols are launched and certain other specified conditions are met, with terms advantageous compared to later public participation. For its early contribution rounds (for Close Collaborators and for Strategic Collaborators), the ECSA Foundation utilizes a Swiss version of a SAFT, which is called "The Early Contribution Agrement" and has been designed by our legal council MME, in Zug. MME also helped built our foundation, just like they did for the original Ethereum Foundation. The instrument we are using is a well-established instrument in the digital asset space, designed to provide a structured and compliant framework for early-stage project funding before a token is actively circulating on a live network. ### Why a SAFT Structure? * Regulatory rudence: SAFTs are typically designed for contributions from accredited or otherwise qualified participants, helping to navigate the complex regulatory landscape surrounding digital assets and token generation, particularly in jurisdictions like Switzerland and for international contributors. * Funding Pre-Network Launch: It allows the ECSA Foundation to secure the necessary Capital ( C ) for the intensive development, auditing, and initial deployment of the Economic Space Protocol (ESP), the ECSA Drive, and the Network Liquidity Medium (NLM) before the network is fully functional and publicly available. * Alignment with Future Utility: The SAFT formalizes a commitment: the contributor provides funds now for the promise of tokens (ECSA) that will have utility within the live ECSA Protocol. This aligns the early contribution with the successful delivery and utility of the network. * Defined Terms for Early Backers: The SAFT agreement clearly outlines the terms, including the contribution amount, the valuation basis for token conversion (often via a cap and/or a discount), any lock-up periods, and the conditions under which tokens will be delivered. This provides clarity and structure for early supporters. ### What it Means for Contributors: * Early Access: SAFT holders are positioned to receive ECSA tokens on more favorable terms than will be available during a later public token launch via the ECSA Liquidity Medium. * Supporting Foundational Development: Contributions via SAFT directly fuel the core research and engineering work required to bring the ECSA vision to life. * Understanding Risks: As outlined in the Early Contribution Agreement (ECA), participating via the agreement involves acknowledging the inherent risks of early-stage technology development, including the possibility that the project may not succeed or that tokens may not achieve significant utility or value. * Future Token Delivery: The ECSA tokens are not delivered immediately upon SAFT execution. They are allocated, based on the Foundation's recommendation of the Genesis State to the protocol community, at or after the Token Generation Event (TGE), which occurs when the necessary protocols parts are deemed ready for production use. ### The SAFT structure provides a compliant and transparent mechanism for aligned individuals and entities to make meaningful early contributions to the ECSA project, becoming foundational stakeholders in the future of distributed economic computation. --- Related context items: * [Engineered Economic Intervention](https://hackmd.io/@ECSA/S1CJVtO_le) * [ECSA Foundation](https://hackmd.io/@ECSA/B1Y0GF_uex) * [Three-Phase Participation](https://hackmd.io/@ECSA/rJVWSFuuxg) * Postcapitalist Onboarding Logic * [Use of Proceeds & Accountability](https://hackmd.io/@ECSA/SkmHIF_dge)