A SAFT (Simple Agreement for Future Tokens) is the legal agreement used by the Economic Space Foundation for its early contribution rounds: qualified contributors provide capital now in exchange for the right to receive cECSA tokens if and when the necessary protocols launch and the tokens are generated.
Why a SAFT structure: regulatory prudence (designed for accredited or otherwise qualified participants, navigating the regulatory landscape in jurisdictions like Switzerland and for international contributors); funding pre-network launch (securing capital for the development, auditing, and initial deployment of PSP, the substrate, and the bridge before the network is publicly available); alignment with future utility (funds now, for tokens whose value is intrinsically linked to the delivered network); and defined terms (contribution amount, valuation basis, lock-ups, and delivery conditions, stated in the agreement).
What it means for contributors: early access on defined terms; direct support of the foundational research and engineering; and explicit risk acknowledgment — early-stage technology development carries the possibility that the project does not succeed or that tokens do not achieve significant utility or value.
Token delivery, per SAFT §10: the cECSA 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, which occurs when the necessary protocol parts are deemed ready for production use. The Foundation recommends; the community adopts; the ECSA DAO issues.
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