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Introduction Professor Kang raises two fundamental worries about the associa­tional path to party reform in The Problem of Irresponsible Party Government, his response to my essay, Networking the Party: First Amendment Rights and the Pursuit of Responsive Party Government. First, he doubts the feasibility of reestablishing thick relational parties given social, techno­logical, and cultural changes […]

This Reply addresses the responses by Professors David Bernstein and Jed Shugerman to our essay Asymmetric Constitutional Hardball. Bernstein’s response, we argue, commits the common fallacy of equating reciprocity with symmetry: assuming that because constitutional hardball often “takes two” to play, both sides must be playing it in a similar manner. Shugerman’s response, on the other hand, helps combat the common fallacy of equating...

Coin-Operated Capitalism Appendix C

Shaanan Cohney,* David Hoffman,** Jeremy Sklaroff *** & David Wishnick ****

wwwww wwwww wwwww wwwww ICO Name Supply Claims Burning Claims Vesting Claims Modification Claims Filecoin Sale Cap: ​200,000,000 “Q: What happens if less than 200mm tokens are sold? Do they get burnt? If not, who owns them?A: . . . We will split all rescale_spansing tokens as follows: We will first apply the rescale_spansder to pay for […]


Shaanan Cohney,* David Hoffman,** Jeremy Sklaroff *** & David Wishnick ****

This Article presents the legal literature’s first detailed analysis of the inner workings of Initial Coin Offerings (ICOs). We characterize the ICO as an example of financial innovation, placing it in kinship with venture capital contracting, asset securitization, and (obviously) the IPO. We also take the form seriously as an example of technological innovation, in which promoters are beginning to effectuate their promises to investors through...