@notacult3d
GM Apechain!View quoted post on X
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The @YugaLabs Asia tour kicks off next week.
Taipei. Hong Kong. Shanghai. Seoul.
Events across all four cities.
Register to pull up: luma.com/yugalabsasiato…View quoted post on X
so let me get this straightView quoted post on X
in the last cycle
people didn’t know whether or not
launching a token
would be totally chill
or would be totally jail
because the SEC wasn’t willing to establish modern rules
so to be safe
don’t launch a fungible token in a US jurisdiction
get really good lawyers
who will tell you how to navigate
a mission impossible laser room of jurisdictions
so you don’t get in trouble with your little coin
then someone you don’t know
and will never meet
will launch your token’s smart contract in BVI or Panama
or wherever it’s chill to do that
so ‘you’ didn’t launch it
for tax purposes the token will get appraised at de minimis
so you don’t get fucked on taxes with a fortune of phantom income at tge
treasury is managed off-shore
by a ‘Foundation’
put a DAO in front to advise the Foundation
on how to distribute a token
by voting on different proposals
people organize
beauracratize
and participate in a
pure democracy where the richest people have the most votes
and winners get free money?
but at least that’s a reason to buy the token
builders try really hard
get disillusioned by proposals
get scorned by other participants
get blamed when its not working
pitchforks
dissolve dao
but then rich people holding tokies to control the ballot have no reason to hold
market sell
price down only
everyone jaded
all because
navigating a grey zone legal landscape
from washington beaureaucrats who didn’t want to set a clear policy
tokie ATL
but now
new leadership
is autistic at simplifying
and thinks a bunch of shit doesn’t make sense
and is going to tear down and rebuild
and streamline everything until its coherent
did I get that right?
