Content
@
1 reply
0 recast
2 reactions
GIGAMΞSH
@gigamesh
Curious what this channel's consensus is on the legal risks of projects that have a token but can't be easily defined as a security. Ex: A token-gated app that only has value when a broad % of members are actively contributing, but there is no onchain governance and the project relies on a centrally-controlled server.
6 replies
0 recast
2 reactions
Ben Adamsky 💭
@ba
@cojo.eth
1 reply
0 recast
0 reaction
Colin Johnson 💭
@cojo.eth
Depends on what the token looks like. Does it satisfy the Howey test? If so - and you become large enough to notice - then it could be troublesome. The devil is in the details a bit. But basic rule is if you market something as a way for people to make money, you should be careful.
1 reply
0 recast
0 reaction
