# Classification limits

`kaal:entity:classification-limits`

**Status.** derived

This node is assembled mechanically from the 2 claims that carry the concept tag `classification-limits`. It is a roster of what the corpus says under this term. It is **not** an adjudicated definition: no single statement here has been ruled canonical, and no first-appearance call has been made. Read the claims and judge for yourself.

## Every claim under this term

2 claims across 1 works, 2018 to 2018.

**2018**

- [3249860-024](https://wulfkaal.github.io/claims/3249860-024) [empirical/evidenced] *(failure mode)* -- The utility token model dominates the top 100 tokens, but the utility category as coded includes tokens that behave like a security, and no Howey test was performed in this research.
  > attributes: tokens offer owners clearly defined utility within a network or application (utility tokens); tokens that behave like a security, although no Howey test was performed in this research;
  Wulf A. Kaal, Crypto Economics - The Top 100 Token Models Compared (2018). SSRN: https://ssrn.com/abstract=3249860
- [3249860-025](https://wulfkaal.github.io/claims/3249860-025) [failure/evidenced] *(failure mode)* -- Seven of the top 100 tokens could not be classified into any token model, with NEM, VeChain, ICON, and Lisk qualifying as outliers with no justification and SUB's whitepaper failing to disclose which model best describes the token.
  > Seven tokens were outliers. NEO is a network enabling creation of asset-backed smart contracts.18 NEM, VeChain, ICON, Lisk were outliers with no justification. It was not clear in the whitepaper of SUB what token model type best describes the token.
  Wulf A. Kaal, Crypto Economics - The Top 100 Token Models Compared (2018). SSRN: https://ssrn.com/abstract=3249860

## Verify

Every claim above resolves to a record carrying a verbatim source quote, the sha256 of the source PDF, and a preformatted citation. Nothing here asks to be taken on trust.

    curl -s https://wulfkaal.github.io/entities/classification-limits.md | sha256sum

**Canonical form.** This markdown file is the canonical hashed representation of this entity node. Its sha256 is the content hash.