Bell Rock glossary
SAFT
A contractual instrument under which investors fund a project in exchange for the right to receive tokens on a future event.
A Simple Agreement for Future Tokens (SAFT) is an investment contract under which investors provide funding to a project in exchange for the right to receive tokens upon a future event, such as a token generation event. It is used to raise capital before tokens exist, and its structuring carries securities-law and regulatory implications in the relevant jurisdictions. SAFTs are commonly used alongside a Cayman issuing entity, and require careful legal drafting and analysis.
Related guidance
Virtual Asset · Token Generation Event
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