a16z Crypto: Don’t sell tokens publicly in the U.S. for fundraising purposes

a16z Crypto published an article today explaining the five rules for token issuance, including: 1. Do not sell tokens publicly in the United States for the purpose of fundraising; 2. Make decentralization the direction; 3. Communication is everything, and self-manage accordingly; 4. Be cautious when listing on the secondary market and pay attention to liquidity; 5. Always ensure that the token lock-up period is at least one year from the date of token issuance.