Thanks cfield! I appreciate your perspective on this and we've spent a lot of time getting the legal structure right.

The App Coins are a way of determining royalty payouts for now. The only way to earn them is by participating in building the product, and effectively joining the product's partnership. This would be similar to how a law firm partnership is structured and is why these are not securities.

Assembly App Coins can't be purchased by outside investors and Assembly App Coins can't be transferred to other individuals not in the "partnership".