Satsuma Tokenomics
Token launches, dissected.
One chain per study: how its token launched, who got what, the crypto economy it launched into, and whether the design or the era decided the outcome — on a rubric that stays the same from study to study, so they add up.
Launch Autopsy #2: Filecoin and the SAFT
The 2017 sale that inverted every choice Ethereum made: accredited-only, lawyer-built, fully vested — a record raise closed three days after China banned ICOs, for a network that was three years away. The SAFT era, in one launch.
Launch Autopsy #1: Ethereum's ICO
The sale that wrote the token-launch playbook: 42 days, ~31,500 BTC, 60 million ETH — priced in a currency that then halved. What the first great token launch got right, what it got away with, and what only worked because it was 2014.