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A Simple Agreement for Future Tokens (SAFT) is a legal contract used by Swiss blockchain companies to sell future rights to their digital tokens before they're actually created. It works like a forward contract, letting investors buy tokens at a discount while helping projects raise early-stage funding.

Under Swiss securities law, SAFTs qualify as financial instruments and must follow FINMA guidelines. The agreement protects both parties by clearly defining token delivery conditions, vesting schedules, and regulatory compliance requirements. Unlike traditional crowdfunding, SAFTs typically target accredited investors and require careful structuring to avoid classification as unauthorized securities offerings.

Use a Simple Agreement for Future Tokens when your blockchain startup needs early funding but hasn't developed its tokens yet. This agreement works perfectly for Swiss projects raising capital from qualified investors while the technical infrastructure is still under development. It helps you comply with FINMA regulations while securing commitments from backers.

The timing is crucial - implement SAFTs during your pre-token development phase, especially if you're building complex distributed ledger systems that require significant upfront investment. This approach gives you access to capital without immediately triggering securities regulations, while providing investors with legally binding rights to future tokens.

• Basic SAFT: The standard Swiss version focusing on token delivery terms and investment conditions
• Lockup SAFT: Includes vesting schedules and transfer restrictions to align with long-term project goals
• Convertible SAFT: Offers investors the option to convert their rights into equity if the token launch doesn't proceed
• Qualified Investor SAFT: Specifically structured for professional investors under Swiss financial regulations
• Milestone-based SAFT: Links token distribution to specific project development achievements

• Blockchain Startups: Issue SAFTs to secure early-stage funding while developing their token infrastructure
• Qualified Investors: Purchase future token rights at discounted rates, typically requiring FINMA-approved investor status
• Legal Counsel: Draft and review agreements to ensure compliance with Swiss securities laws and FINMA guidelines
• Token Project Teams: Manage token development milestones and delivery obligations specified in the SAFT
• Financial Intermediaries: Facilitate SAFT transactions and ensure proper investor qualification under Swiss regulations

• Project Details: Outline your token's technical specifications, utility, and development timeline
• Investment Terms: Define token price, discount rates, and total allocation for SAFT participants
• Investor Qualification: Prepare verification procedures for qualified investor status under Swiss law
• Token Distribution: Specify vesting schedules, lockup periods, and delivery conditions
• Compliance Framework: Document FINMA-compliant structure and risk disclosures
• Platform Generation: Use our platform to generate a legally sound SAFT that includes all required elements

• Token Description: Detailed specifications of future tokens, including utility and technical features
• Purchase Terms: Investment amount, token price, and discount structure
• Delivery Conditions: Clear triggers for token distribution and network launch requirements
• Investor Rights: Token allocation, transfer restrictions, and FINMA-compliant investor qualifications
• Risk Disclosures: Comprehensive overview of project, regulatory, and market risks
• Legal Framework: Swiss governing law, jurisdiction, and dispute resolution mechanisms
• Termination Rights: Conditions for agreement cancellation and refund procedures

A Simple Agreement for Future Tokens (SAFT) differs significantly from a Simple Agreement for Future Equity (SAFE) in several key aspects, though both are investment instruments used in early-stage funding.

• Investment Output: SAFTs promise future blockchain tokens, while SAFEs convert to company equity shares
• Regulatory Framework: SAFTs fall under Swiss crypto-asset regulations and FINMA oversight, whereas SAFEs follow traditional corporate investment laws
• Investor Rights: SAFT holders receive specific token allocations with defined utility features, while SAFE holders gain potential shareholder rights
• Timeline and Triggers: SAFTs typically convert upon token launch or network completion, but SAFEs convert during equity financing rounds
• Risk Profile: SAFTs carry unique blockchain project risks, while SAFEs face traditional startup investment risks