# kaal:claim:4015908-033

**Claim.** If the top 10 addresses own a disproportionally large supply of a token, the project or community becomes more centralized, an outcome fair launches seek to avoid.

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

**Holds when.**

- token supply concentration measured across top holder addresses

**Source quote.**

> If the top 10 addresses own a disproportionally large supply of a token, then the project or community becomes more centralized; an outcome which fair launches seek to avoid.

**From.** Wulf A. Kaal, *Fair Token Launch* (2022), IV.1 Liquidity Mining, page 16

**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, decentralization

**Keywords.** token-concentration, centralization, supply-distribution, fair-launch

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