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1/ The token contract is the easy 10%. Compliance, reserves, custody, and tooling make up the other 90%, and you cannot cut corners. Legal classification eats more calendar than you expect. It gates every decision downstream. ↓

2/ The smart-contract work is a fraction of the timeline; reserve, custody, and compliance setup dominate. Start the legal track first. Well-done compliance checks every transaction automatically. Done poorly, it lets bad flows through. Part 7, the final part of the series → buff.ly/nzp8CYy

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