Will the DEX operating on every computer that is hosting a Steem Engine node?
Will it be possible for the Token creator to limit the location of nodes able to trade their token.
I ask because the @jpbliberty litigation funding token is issued by an Australian company and litigation funding is completely exempt from all Australian securities law.
Thus it is fully compliant with Australian law and I can even operate an exchange for the purposes of litigation funding.
I'd prefer to have the DEX for my token only operating on servers outside the USA.
Is that possible?
Well, it's a dex. So like the steem blockchain it can be used anywhere in teh world, but like the steem blockchain you can have different front ends for this stuff. So, no you can't remove it from the blockchain, but you can run the open source code to have your own dex that's only accessible by whatever conditions you put there.
While this first go round is only starting with public coins maybe we can add functionality down the road for more private ones too.
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When discussing with the law firm, remember to ensure that you review the latest Jobs Act passed here in the US a couple of years ago as it provided some clear exemptions for certain entitiies and crowdfunding initiatives that fall under a monetary threshold (it is a an amount in the millions). Given the market caps we are seeing these days, I would say that there would be ways to pull then off using these frameworks created to raise capital more efficiently. I wish you the best on this exciting project!
Love your work guys. I am no legal expert either, but as long as Steem Engine is not selling tokens or offering any means for selling tokens, then I would think that you're absolved of any legal implication in the use of user-created tokens. You're providing a means, but not an end (that's for the end user).
I don't see how the challenges you're facing are going to be any different than they will for Steemit Inc. I think in the case of Smart Media Tokens because STINC is a privately run company, they might have a little more legal tape to navigate in regards to token issuance.
Getting legal advice is smart, but I think you're fine as long as you have clearly defined terms of service and do not encourage the creation of potential securities (being sold or traded for any measurement of currency).
I really want to create a Steem Engine token myself, once I can scrounge up the 100 STEEM required to do so. I have a few dApps I am working on, one of which would really benefit from a custom token.
I am going to be writing up a "white paper" for my FOOD token issuance and a legal disclaimer at the bottom will say something along the line of "I'm just a dude playing around on the internet and these are nothing but a digital sticker, it's like me saying 'wow thanks for entering the @steemfoodtours contest, have some digital stickers'"... but ultimately it's up to the market to decide how much people want to trade those stickers for :)
I certainly won't be selling anything or promising any returns!
Will the DEX operating on every computer that is hosting a Steem Engine node?
Will it be possible for the Token creator to limit the location of nodes able to trade their token.
I ask because the @jpbliberty litigation funding token is issued by an Australian company and litigation funding is completely exempt from all Australian securities law.
Thus it is fully compliant with Australian law and I can even operate an exchange for the purposes of litigation funding.
I'd prefer to have the DEX for my token only operating on servers outside the USA.
Is that possible?
Well, it's a dex. So like the steem blockchain it can be used anywhere in teh world, but like the steem blockchain you can have different front ends for this stuff. So, no you can't remove it from the blockchain, but you can run the open source code to have your own dex that's only accessible by whatever conditions you put there.
While this first go round is only starting with public coins maybe we can add functionality down the road for more private ones too.
!gif brain explosion
I wanted to see that
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Can't wait for the launch! Already have a couple ideas for coins and their uses :)
Hi @aggroed, huge fun of your work :) do you guys have a discord where I can ask some questions? Cheers! !tip 10 hide
https://discord.gg/sSSfjDb
Excellent vision that you share. It is very important to know all that information. regards @aggroed
Hi, @aggroed!
You just got a 0.22% upvote from SteemPlus!
To get higher upvotes, earn more SteemPlus Points (SPP). On your Steemit wallet, check your SPP balance and click on "How to earn SPP?" to find out all the ways to earn.
If you're not using SteemPlus yet, please check our last posts in here to see the many ways in which SteemPlus can improve your Steem experience on Steemit and Busy.
When discussing with the law firm, remember to ensure that you review the latest Jobs Act passed here in the US a couple of years ago as it provided some clear exemptions for certain entitiies and crowdfunding initiatives that fall under a monetary threshold (it is a an amount in the millions). Given the market caps we are seeing these days, I would say that there would be ways to pull then off using these frameworks created to raise capital more efficiently. I wish you the best on this exciting project!
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Love your work guys. I am no legal expert either, but as long as Steem Engine is not selling tokens or offering any means for selling tokens, then I would think that you're absolved of any legal implication in the use of user-created tokens. You're providing a means, but not an end (that's for the end user).
I don't see how the challenges you're facing are going to be any different than they will for Steemit Inc. I think in the case of Smart Media Tokens because STINC is a privately run company, they might have a little more legal tape to navigate in regards to token issuance.
Getting legal advice is smart, but I think you're fine as long as you have clearly defined terms of service and do not encourage the creation of potential securities (being sold or traded for any measurement of currency).
I really want to create a Steem Engine token myself, once I can scrounge up the 100 STEEM required to do so. I have a few dApps I am working on, one of which would really benefit from a custom token.
I am going to be writing up a "white paper" for my FOOD token issuance and a legal disclaimer at the bottom will say something along the line of "I'm just a dude playing around on the internet and these are nothing but a digital sticker, it's like me saying 'wow thanks for entering the @steemfoodtours contest, have some digital stickers'"... but ultimately it's up to the market to decide how much people want to trade those stickers for :)
I certainly won't be selling anything or promising any returns!
This is fantastic news.