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>I'm sure I'll be violently opposed here, but it seems like an awfully poor heuristic that creations are statically split at mint-time, as opposed to - say - th
by SkyBelow 5y ago
>I'm sure I'll be violently opposed here, but it seems like an awfully poor heuristic that creations are statically split at mint-time, as opposed to - say - the amount of labor put down over time, at least for a founding team.
That sounds reasonable. The problem is when people don't do the leg work to set up a framework to handle more complex share splits. Sans such a framework, the default is to split at mint time because that's how stakes have historically worked and the legal system should, in theory, minimize funny business possible when someone doesn't have a contract specifying any specific details.
The general outcome here is that the 'no contract' way of splitting shares is pretty bad, which seems in line with the no contract way of doing anything other transaction or business dealing. That way of doing business only works for small time transactions, say in the 2 or 3 digit range.