# kaal:claim:4015908-011

**Claim.** Under the fairness to the public definition of fair launch, no early investor may hold a pre-allocation of project tokens or a pre-mining program, and any individual claim to a percentage of token supply before public sale falls outside the definition of fair launch.

**Type.** condition  **Support.** argued

**Holds when.**

- strict fairness to the public definition of fair launch

**Source quote.**

> under this definition of fair launch, no early investors would be permitted with a pre-allocation of project tokens or with a pre-mining program.

**From.** Wulf A. Kaal, *Fair Token Launch* (2022), III.2.c Fairness to Public, page 8

**Cite as.** Wulf A. Kaal, Fair Token Launch (2022). SSRN: https://ssrn.com/abstract=4015908

**Verify.** sha256 of source PDF `e0925afde0c42a16cd5310983789fae3eb3d1f121e2954a72afa64191d00fe37` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202022%20-%20Fair%20Token%20Launch.pdf

**Topics.** tokenomics

**Keywords.** fair-launch, pre-mine, pre-allocation, early-investors, token-supply

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.