Glossary

Selected terms

Short definitions we are willing to defend.

• Venture studio — a company that creates other companies, with people and a cap table, not a cohort programme.
• Tokenisation — representing a defined claim in software. It does not by itself create legal title.
• Stablecoin — a token designed to track a reference value. Stability is a property of reserves, redemption and law, not of the word.
• KYB — know your business: evidence that an organisation exists, is allowed to act, and is represented by the person in front of you.
• Verifiable credential — a signed statement a verifier can check. It is not a licence unless the issuer had authority to issue one.
• Non-dilutive, in our model — protection of the studio's 25% against defined internal issuances for 48 months, not a promise against every future financing.
• Reverse vesting — founder shares issued up front, with a company right to repurchase what has not vested if service ends.
• DePIN — physical infrastructure coordinated by software. A token is optional and often the wrong first design.