Https://Www.Solana.News/Post/Sec-Acts-Against-Terraform-Labs-Regarding-Mirror-Protocol Did the team have any insights or comments about this?…..

just wondering if these is a threat to DeFiChain as well?

I asked a similar question and the best answer I got was dfichain stock token is only a price reflection of the synthetic asset not sure what's the difference. Hoping someone could clarify it further

I think they mean the Pools don’t follow the price in a technical way, it reflects the price because of the supply and demand aspect created by human intervention…… however, if I’m not mistaken Mirror protocol has the same set up as DeFiChain in terms of pools as well….. would really love to hear from the team about what their thoughts are…… I know Julian said USA was not the target market so maybe they don’t think it will hurt the project…. Maybe they can dive deeper next twitter space or make a blog post….. I really do think the SEC investigation is a big deal and maybe we can come up with a plan for DeFiChain

SEC can do whatever it wants but it won’t impact Mirror nor DFI. There is no CEO to subpoena, no companies to shutdown. They can try going after founders but they are not in control of the blockchain. Julian and team is smart when they are positioning Cakedefi a CEX and he is the CEO. This is why there is no minting of stocks token for cake users only liquidity mining. It’s all just hot air. Terra’s Do Kwan countered sued SEC for their ancient interpretation of Organization structure.

Good points

Unfortunately not true. They know who the core Devs are and could take them accountable. Prevent Cake and other companies from listing and selling DFI, forbid Amazon and Microsoft to host the master nodes, remove Code from Git, ... If they want they can obliterate DefiChain. But DefiChain is so small and insignificant that they don’t care.

That is actually an old theme already. Answered on that a few weeks ago. The main issue with Terra labs I would say, at the moment is that its not so much that they may be offering tokenized stocks, is the way how they are doing it. They are not clear about the way they reach prices and how they perform such backing in prices, on their offerings in the US market, which led the SEC to send them a letter to breakdown their process, activities, marketing, basically, how they were doing it and who was behind that, which they politely declined with a "fu** off" by not even responding SEC. Obviously, anyone know what happens we you give such a polite answer. They are going to be targeted. And that may not be that dificult contrary to what many users think in Terra labs case, since Terra, altough it says it, its not so decentralized as it seems, a very huge part of the current token supply is highly concentrated in the founders and internal community, which is a big problem with respective to any decentralization attempt. As for Defichain, things are not so similar. Information on how the project handles such themes is plently available, so much that Nasdaq is one of the main referential for oracle prices, there is no such things as real stocks backing the tokenized ones (contrary to Binance for example), the tokenized stocks are not offered in the US, as a preemptive measure to still further avoid any attempt fom regulatory bodies to try and find a language loophole that allowed them to try and go after, in any way, of the Defichain project. Also, the founders burned the majority of their tokens in the past months, ensuring true decentralization and are not even part of the project anymore, altough endorsing it, they have no influence on the final course of it, ensuring that even being targeted for any reason, the project does not contain an attack point

A very thorough synopsis of this complex and thorny topic of regulation Daniel. Thank you. Responses such as this go a long way to enlighten the community on this topic and provide a good foundation for your own research. This is very important to DeFiChain - a credit to you!

Thank you. Great explanation

Thanks, one question. The tokenized stocks are not available on Cake DeFi or in generally for the US? I guess, to buy via DeFiChain is possible?

Only on Cake, on the DeFiChain everybody can buy it

Ahh okay then I got it right 😃👍

Yes, via the defichain is possible to buy and hold them :)

DanieL BaptistA
Still, about today's earlier conversation on the T...

Is there a similar plot available for defichain?

Such plot I dont know, at the time of research I watched a table with the initial allocations and later the burned tokens from the founders and so on. The information is available online. I may try and search it, but will take some time.

https://blog.cakedefi.com/coin-burning-event-and-implications/amp/

This is very insightful. Thank you 🙏🏼