# kaal:claim:4015908-015

**Claim.** The rule that no tokens may be distributed to insiders such as team, founders, associated whales, core investors, advisors, and marketing teams before or after the token sale is the most important staple of fair launch doctrine and cannot be subject to exceptions; any exception should cost the project the fair token launch designation.

**Type.** normative  **Support.** argued

**Holds when.**

- projects claiming the fair token launch designation

**Source quote.**

> This rule is perhaps the most important key staple of the fair launch doctrine and cannot be subject to exceptions. Any exceptions to this rule should result in the loss of the designation fair token launch.

**From.** Wulf A. Kaal, *Fair Token Launch* (2022), III.2.c(3) No Special Rules for Insiders, page 9

**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, insiders, token-distribution, doctrine, standards

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