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crypto already allows one to buy AAPL token, privately, at 3am EST, for a ~$.1-$5 tx fee. Not bad for the 1st decade of a long story.
by elevenoh 5y ago
crypto already allows one to buy AAPL token, privately, at 3am EST, for a ~$.1-$5 tx fee.
Not bad for the 1st decade of a long story.
- rank0 5y agoExcept you aren’t actually buying ownership of AAPL. You don’t get any voting power or dividends. You are buying a token that the creator pinky promises are worth/redeemable for x shares of AAPL. Those AAPL tokens are not insured by the SIPC…
- X6S1x6Okd1st 5y agoNope these are not redeemable for AAPL. They are synthetic assets that track the price. The fact that there are no dividends or voting rights means they should be worth less for anyone that can purchase the actual asset.
- tomc1985 5y agoSo then what is driving price action? How will they reconcile when the crypto doesn't track the actual security?
- X6S1x6Okd1st 5y agoI'm not super familiar with this project, but it's described here: https://docs.synthetix.io/litepaper https://docs.synthetix.io/litepaper
- elevenoh 5y agoOf course not. But AAPL price futures satisfy the consumer desire here.