By networkstate.mp3 on Skatehive
[](https://3speak.tv/watch?v=networkstate.mp3/ijcdpqvr) ▶️ Watch on 3Speak Securing Digital Rights for Communities (Game Theory and Governance of Scalable Blockchains for Use in Digital Network States) Chapter 15. Censorship and the Morality of Pre-Mines How Pre-Mined Tokens Enable Centralized Control and Why True Decentralization Demands Fair Distribution 15.1. Understanding the Moral and Practical Issues of a Pre-Mine 15.1.1 Defining a Pre-Mine A pre-mine occurs when a blockchain’s token supply is minted, sold to or allocated to specific insiders (founders, VC funds, early investors) before it becomes available to the broader community. This may happen in an ICO, private sale, or “seed round.” Moral Concerns Unearned Privilege: Those who receive a large portion of tokens at negligible or no cost gain disproportionate power over governance, essentially “buying out” a community that doesn’t even exist yet. Misalignment of Incentives: Early insiders can exit (“dump”) on future participa