This is cool. Shaun, how are you managing US security law compliance given that this token (representing equities in real companies) would be classified as a security offering?
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@nickabouzeid Hi Nick! I am one of the participating founders.
22X is a private fund that is being offered pursuant to Section 506(c) and is reliant on available exemptions under the Investment Company Act. There's more specifics in our whitepaper, if you're curious.
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@nickabouzeid@ayushk there are min funding requirements and a 1 year hold period so these tokens are not trading for a while.
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@nickabouzeid@illfee Just to be clear: the holding period applies only to US investors. Outside the US, minimums are lower too. Within the US, we had to choose a compliance framework that made sense given the current legislative landscape.
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I wish there were some information on the team behind this readily accessible on the website.
@golear Hi Gabe, have you taken a look at the white paper? You can find more information there.
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@zabimaru_ichigo yeah that's why I specified 'readily accessible' it should be made very easy for interested parties to see who make up the team behind something like this. I rarely read whitepapers when a few red flags go off (can't find team members on the site being one of them).
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This is about democratizing access - changing who gets to invest and who gets funding. Much needed and excited its a crypto offering!
Ramp
Haven (Gen II)
Sketchfab
This is the future of funding for accelerator companies and early stage startups.
Pros:Easy and low cost way to invest in a diverse portfolio of vetted startups
Cons:If you are a US investor there is a large minimum in the presale
Awesome!!
Pros:One token, 30 startups
Cons:Need to comply with security laws