<html><head><meta http-equiv="content-type" content="text/html; charset=utf-8"></head><body style="overflow-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;"><div><br><blockquote type="cite"><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px;"><span style="font-family: -webkit-system-font, Helvetica Neue, Helvetica, sans-serif; color:rgba(0, 0, 0, 1.0);"><b>From: </b></span><span style="font-family: -webkit-system-font, Helvetica Neue, Helvetica, sans-serif;">ecsa <ecsa@ghost.io><br></span></div><div style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px;"><br></div><div><meta charset="UTF-8"><img width="1" height="1" alt="" src="http://email.m.ghost.io/o/eJw8zjFuwzAMRuHTRJuNnzIlkwMPI8qWY1SpgUQtevwCGTI-4A3fZqtvlSTsRisrZxZNYX-Us0_nZlk4ey5C6mlpAMgZyDXcraAlWqpGcVkYsVHeSsNCWlVd1nBaREzIUEJMnGeKSiJoNZFzQbsxHvNxv15jPq_wtGPfn-PG-Htx6X3-7mGY__Sv6c0Jw97vp7xfx0SkLODwa_E_AAD___JfOe0" style="caret-color: rgb(21, 33, 42); 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color: rgb(21, 33, 42); box-sizing: border-box;"><table role="presentation" border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse: separate; width: 560px;"><tbody><tr class="site-info-row"><td class="site-info" width="100%" align="center" valign="top" style="font-family: -apple-system, BlinkMacSystemFont, Roboto, Helvetica, Arial, sans-serif; font-size: 18px; vertical-align: top; color: rgb(21, 33, 42); padding-top: 32px;"><table role="presentation" border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse: separate; width: 560px;"><tbody><tr><td class="site-icon" valign="top" align="center" style="font-family: -apple-system, BlinkMacSystemFont, Roboto, Helvetica, Arial, sans-serif; font-size: 18px; vertical-align: top; color: rgb(21, 33, 42); padding-bottom: 8px; padding-top: 8px; text-align: center; border-radius: 3px;"><a href="https://news.ecsa.io/r/2a005119?m=79e17ee0-9de9-4208-947b-b10f9e999f70" target="_blank" style="color: rgb(238, 0, 255); text-decoration: none; overflow-wrap: anywhere;"><img src="https://news.ecsa.io/content/images/2025/06/I-ecsa-H400.png" alt="ecsa" border="0" width="44" height="44" style="border: medium; max-width: 100%; width: 44px; height: 44px; border-radius: 3px;"></a></td></tr></tbody></table></td></tr><tr><td class="post-title post-title-no-excerpt post-title-left" valign="top" align="left" style="font-family: -apple-system, BlinkMacSystemFont, Roboto, Helvetica, Arial, sans-serif; vertical-align: top; color: rgb(21, 33, 42); font-size: 36px; line-height: 1.1em; font-weight: 700; padding-bottom: 16px; text-align: left;"><a href="https://news.ecsa.io/r/8ddd3ae5?m=79e17ee0-9de9-4208-947b-b10f9e999f70" class="post-title-link post-title-link-left" target="_blank" style="display: block; margin-top: 32px; color: rgb(21, 33, 42); text-align: left; line-height: 1.1em; text-decoration: none; overflow-wrap: anywhere;">Toward economic space agency in the lowercase</a></td></tr><tr><td width="100%" valign="top" style="font-family: -apple-system, BlinkMacSystemFont, Roboto, Helvetica, Arial, sans-serif; font-size: 18px; vertical-align: top; color: rgb(21, 33, 42); width: 560px;"><table class="post-meta-wrapper" role="presentation" border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse: separate; width: 560px; padding-bottom: 32px;"><tbody><tr><td height="20" class="post-meta post-meta-left" valign="top" align="left" style="font-family: -apple-system, BlinkMacSystemFont, Roboto, Helvetica, Arial, sans-serif; vertical-align: top; color: rgb(115, 129, 140); font-size: 13px; font-weight: 400; text-align: left; padding: 0px;">By ecsa •<span class="Apple-converted-space"> </span><span class="post-meta-date" style="white-space: nowrap;">9 Jun 2025<span class="Apple-converted-space"> </span></span></td><td class="post-meta post-meta-left view-online desktop" valign="top" align="right" style="font-family: -apple-system, BlinkMacSystemFont, Roboto, Helvetica, Arial, sans-serif; vertical-align: top; color: rgb(115, 129, 140); font-size: 13px; font-weight: 400; text-align: right;"><a href="https://news.ecsa.io/r/ffb74bad?m=79e17ee0-9de9-4208-947b-b10f9e999f70" class="view-online-link" target="_blank" style="white-space: nowrap; color: rgb(115, 129, 140); text-decoration: underline; overflow-wrap: anywhere;">View in browser</a></td></tr></tbody></table></td></tr><tr class="feature-image-row"><td class="feature-image feature-image-with-caption" align="center" width="100%" valign="top" style="font-family: -apple-system, BlinkMacSystemFont, Roboto, Helvetica, Arial, sans-serif; vertical-align: top; color: rgb(21, 33, 42); text-align: center; width: 560px; padding: 0px; font-size: 13px;"><img src="https://news.ecsa.io/content/images/size/w1200/2025/06/sky-desaturated.jpg" width="600" style="border: medium; max-width: 100%;"></td></tr><tr><td align="center" valign="top" style="font-family: -apple-system, BlinkMacSystemFont, Roboto, Helvetica, Arial, sans-serif; font-size: 18px; vertical-align: top; color: rgb(21, 33, 42);"><div class="feature-image-caption" style="width: 560px; padding-top: 5px; padding-bottom: 32px; text-align: center; color: rgb(115, 129, 140); line-height: 1.5em; font-size: 13px;"><a href="https://news.ecsa.io/r/9bf710ea?m=79e17ee0-9de9-4208-947b-b10f9e999f70" rel="noreferrer" target="_blank" style="color: rgb(238, 0, 255); text-decoration: none; overflow-wrap: anywhere;"><span style="white-space: pre-wrap;">catherine leigh smith</span></a></div></td></tr><tr class="post-content-row"><td class="post-content-sans-serif" valign="top" style="font-family: -apple-system, BlinkMacSystemFont, Roboto, Helvetica, Arial, sans-serif; vertical-align: top; font-size: 17px; line-height: 1.5em; color: rgb(21, 33, 42); padding-bottom: 20px; border-bottom-width: 1px; border-bottom-style: solid; border-bottom-color: rgb(224, 231, 235); max-width: 600px;"><p style="margin: 0px 0px 1.5em; line-height: 1.6em;">Dear friends and collaborators,</p><p style="margin: 0px 0px 1.5em; line-height: 1.6em;">Today we are excited to send you the bulletin you have in front of you, the first in a new arc, and a new phase in our work.<span class="Apple-converted-space"> </span></p><p style="margin: 0px 0px 1.5em; line-height: 1.6em;">As you know, we have as ECSA been working, persistently and stubbornly, on distributing economic agency. In 2023, we released our economic whitepaper<span class="Apple-converted-space"> </span><a href="https://news.ecsa.io/r/bd925c3a?m=79e17ee0-9de9-4208-947b-b10f9e999f70" rel="noreferrer" target="_blank" style="overflow-wrap: anywhere; color: rgb(238, 0, 255); text-decoration: underline;"><em>Protocols for Postcapitalist Expression</em></a><span class="Apple-converted-space"> </span>in book form, situating our work within the history of economic and political thought. At the same time, we refined our legal interfaces, the ECSA foundation in Switzerland, kicked off ECSA Labs as our creative design studio, and began outlining what now is in the process of becoming the Economic Media Lab. And importantly, we formalized the design of the Postcapitalist Space Protocol and began its prototyping and simulation work.<span class="Apple-converted-space"> </span></p><p style="margin: 0px 0px 1.5em; line-height: 1.6em;">All of this has been done in pursuit of one simple goal: to make economic space agency real, concrete, and shareable. By “economic space agency” – for us, by now, in lowercase – we mean the set of capabilities that different economic computation systems and their specific protocols enable. In the logic we have been developing, this agency gets distributed to the edge in full – passed, that is, to autonomously organising economic networks – giving them the capacity to compose their own economic logics, natively define and compute network value, participate in their governance and, crucially, coordinate in and between each other via rich protocols.</p><p style="margin: 0px 0px 1.5em; line-height: 1.6em;">When contrasting this composition with the agency in legacy economic computation (price-taking, local optimization) or in blockchain contexts (transacting within fixed monetary rules), a “spread” emerges. This spread is fundamentally the difference in agency. We believe this<span class="Apple-converted-space"> </span><em>Agency Spread</em><span class="Apple-converted-space"> </span>is an unprecedented financial and political opportunity – to go beyond the limits of capitalism and even to put its risks and dangers “back to the market.”<span class="Apple-converted-space"> </span></p><p style="margin: 0px 0px 1.5em; line-height: 1.6em;">Our wager is: If given the choice, people will want to use this option. Yet the challenge has remained how exactly this opportunity could be operationalized. Our most recent work has therefore focused specifically on solving this missing piece. We are pleased to now to call its specification the<span class="Apple-converted-space"> </span><em>Postcapitalist Liquidity Bridge.</em></p><p style="margin: 0px 0px 1.5em; line-height: 1.6em;">The moment has thus come to start transforming Economic Space Agency (the bootstrapping entity) into the core network utility of<span class="Apple-converted-space"> </span><em>protocol-enabled economic space agency:</em><span class="Apple-converted-space"> </span>a distributed economic networking capability, and a language that can be spoken and practiced through a concrete protocol interface.</p><p style="margin: 0px 0px 1.5em; line-height: 1.6em;">In the coming weeks, through these bulletins we will give you a deeper dive into what we’ve been building and what it can mean IRL:</p><p style="margin: 0px 0px 1.5em; line-height: 1.6em;">— The core concepts and their implications<br>— The protocol mechanisms and instruments<br>— The road ahead and how to partake in the journey</p><p style="margin: 0px 0px 1.5em; line-height: 1.6em;">If you want to join the trip, say hi on<span class="Apple-converted-space"> </span><a href="https://news.ecsa.io/r/f6b2285d?m=79e17ee0-9de9-4208-947b-b10f9e999f70" rel="noreferrer" target="_blank" style="overflow-wrap: anywhere; color: rgb(238, 0, 255); text-decoration: underline;">Telegram</a><span class="Apple-converted-space"> </span>or drop us a mail at<span class="Apple-converted-space"> </span><a href="https://news.ecsa.io/r/173150c9?m=79e17ee0-9de9-4208-947b-b10f9e999f70" rel="noreferrer" target="_blank" style="overflow-wrap: anywhere; color: rgb(238, 0, 255); text-decoration: underline;">hello@ecsa.io</a>. And if you’d like to participate in the upcoming collaborator funding round, mail us to<span class="Apple-converted-space"> </span><a href="https://news.ecsa.io/r/ee27ecd2?m=79e17ee0-9de9-4208-947b-b10f9e999f70" rel="noreferrer" target="_blank" style="overflow-wrap: anywhere; color: rgb(238, 0, 255); text-decoration: underline;">request the deck</a>.<span class="Apple-converted-space"> </span></p><p style="margin: 0px 0px 1.5em; line-height: 1.6em;">Looking forward to seeing you,<span class="Apple-converted-space"> </span></p><p style="margin: 0px 0px 1.5em; line-height: 1.6em;">ecsa</p><div style="margin: 0px 0px 1.5em; line-height: 1.6em;"><br class="webkit-block-placeholder"></div><div style="margin: 0px 0px 1.5em; line-height: 1.6em;"><br class="webkit-block-placeholder"></div><div style="margin: 0px 0px 1.5em; line-height: 1.6em;"><br class="webkit-block-placeholder"></div><div style="margin: 0px 0px 1.5em; line-height: 1.6em;"><br class="webkit-block-placeholder"></div><div style="margin: 0px 0px 1.5em; line-height: 1.6em;"><br class="webkit-block-placeholder"></div><div class="kg-visibility-wrapper"><hr style="position: relative; display: block; width: 560px; margin: 3em 0px; padding: 0px; height: 1px; background-color: transparent; border-width: 1px 0px 0px; border-style: solid none none; border-color: rgb(224, 231, 235) currentcolor currentcolor; border-image: none;"><p style="margin: 0px 0px 1.5em; line-height: 1.6em;"><small><b>UPCOMING</b></small><br><small><b>#2 What’s happening</b><br><i>What is emerging?<br>What is the roadmap?</i></small><br><br><small><b>#3 The postcapitalist space protocol</b><br><i>What is the postcapitalist space protocol?<br>What does it enable at the edge?</i></small><br><br><small><b>#4 The opportunity</b><br><i>What is the opportunity?<br>How can we tap into it?</i></small><br><br><small><b>#5 The ECSA token</b><br><i>What is the strategic role of the ECSA token?<br>What network utility does it claim, and how does it capture value?</i></small><br><br></p></div></td></tr></tbody></table></td></tr><tr><td class="wrapper" align="center" valign="top" style="font-family: -apple-system, BlinkMacSystemFont, Roboto, Helvetica, Arial, sans-serif; font-size: 18px; vertical-align: top; color: rgb(21, 33, 42); box-sizing: border-box;"><table role="presentation" border="0" cellpadding="0" cellspacing="0" width="100%" style="border-collapse: separate; width: 560px; padding-top: 40px; padding-bottom: 30px;"><tbody><tr><td class="footer" valign="top" align="center" style="font-family: -apple-system, BlinkMacSystemFont, Roboto, Helvetica, Arial, sans-serif; vertical-align: top; color: rgb(115, 129, 140); margin-top: 20px; text-align: center; padding: 10px 30px; line-height: 1.5em; font-size: 13px;"><p dir="ltr" style="margin: 0px 0px 1.5em; line-height: 1.6em;"><span>You are receiving this because you signed up for the ecsa newsletter or have earlier had direct correspondence with ecsa. 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