Vesting evolved from a tool to retain railroad workers in 1875 to a sophisticated mechanism governing billions in crypto token distributions. The fundamental premise remains unchanged: align incentives over time and prevent premature exits. But implementation has transformed dramatically from handshake agreements to immutable smart contracts. For crypto industry professionals designing token economics, understanding this evolution reveals why certain structures dominate and which innovations ...

Vesting evolved from a tool to retain railroad workers in 1875 to a sophisticated mechanism governing billions in crypto token distributions. The fundamental premise remains unchanged: align incentives over time and prevent premature exits. But implementation has transformed dramatically from handshake agreements to immutable smart contracts. For crypto industry professionals designing token economics, understanding this evolution reveals why certain structures dominate and which innovations ...