Glossary
TGE
The point at which a project's token is created and distributed — after which most of its accounting and tax characteristics are fixed.
Decisions made before a TGE determine the treatment afterwards: how the raise is characterised, what the token entitles holders to, which entity issues it and what the foundation controls. Those positions are extremely expensive to revisit later.
Own-issued tokens generally sit outside the crypto fair-value regime, and unsold treasury tokens are typically not recognised as assets at all — which surprises founders who expect a large balance sheet on day one.
Where this comes up
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