# kaal:claim:4529715-031

**Claim.** Allocating twenty percent of total token supply to the four person founding team, as Angel Protocol does, means the organization can never become fully decentralized.

**Type.** failure  **Support.** evidenced

**Holds when.**

- founding team holds 20 percent of supply

**Source quote.**

> will possess 20% of the total tokens in supply. This concentration of tokens in the individuals who created this DANO, will never fully allow Angel Protocol to become fully decentralized.

**From.** Wulf A. Kaal, Josh Bykowski, *Decentralized Autonomous Organizations (DAO) – A Market Meta Analysis* (2023), Appendix, Charity DAOs, Angel Protocol, page 127

**Cite as.** Wulf A. Kaal, Josh Bykowski, Decentralized Autonomous Organizations (DAO) – A Market Meta Analysis (2023). SSRN: https://ssrn.com/abstract=4529715

**Verify.** sha256 of source PDF `2d71961e8c449afbeaf45ca4f53de8a575d45c77d6960b767d3d1d0874f296b5` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Bykowski%20-%202023%20-%20Decentralized%20Autonomous%20Organizations%20%28DAO%29%20%E2%80%93%20A%20Market%20Meta%20Analysis.pdf

**Failure mode.** founder-token-concentration  (family: plutocratic-capture)

**Topics.** dao, tokenomics, decentralization

**Keywords.** dao, token-distribution, founder-allocation, decentralization, angel-protocol

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