ECSA token

ECSA token is the financial, organizational and communicative interface of the Economic Space Agency project. Financially, it gives the holder a stake in the ECSA project, i.e., an exposure to the network performance and the ability to benefit from the token appreciation. It is a network performance derivative with multi-denominational dividends: it indexes the performance of the network and captures its network value (network premium: the value created by being networked, i.e., by forming an interconnected network). Its value is basically anchored in the spread that will emerge between the network capacities of the existing capitalist economic network and the postcapitalist economic network: a spread between their expressive power, stability, accessibility, fairness of distribution, adaptability, scalability, privacy, functional equality and programmability. Organizationally, the ECSA token gives the token holder economic space agency: the right to participate in the network generation, governance, agenda and value setting, and sharing in the premium of being networked. In other words, communicationally, it opens a two-way communication channel: the holder can affect the network; and the network can affect the holder by sharing “dividends” (network outputs) to the holder. As an interface, the ECSA token is designed to both bridge and mediate. Its issuance model shields economic spaces from capital market volatility and its narrow valuation convention: the token acts as a boundary protecting the values and development inside the network. The token is also constitutional to the network: its core function is to maintain liquidity and stability during the bootstrap phase. Its purpose is, on the one hand, to concretely establish an economic network (a distributed economic alliance) among network participants using mutual stakeholding as the network primitive and, on the other hand, to bootstrap the network liquidity. Through it, holders participate also in the network’s governance. Finally, the ECSA token price in USD indexes its value ascribed by the capital markets. The reverse exchange rate indexes the inverse: the USD price in ECSA Units indexes the value of capital markets ascribed by the network. The more self-sufficient the network becomes, the less it must value the capital markets relative to itself. Our wager is that it will decrease the value of USD in the network and correspondingly increase the value of the ECSA token in the capital markets. Bitcoin may be a short position on capitalist money. But the ECSA token offers a short position on the capitalist economy and culture. See Network premium. See Living in the spread.

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