wNEX

Development
#1

so guys catch me up on this . If we have wNEX available on multiple chains … is it classed as a derivative and therefor not under the same limitations as a security ?

please tell me this is the play

1 Like
#2

Let me quote Fabio on this (from Nash’s Telegram channel):

Regarding some comments above we are looking into a 1to1 bridge for NEX on ETH and NEO. Allowing to move between the two, but this is highly experimental yet - as both NEO and ETH have big upcoming updates.

and:

Is not wrapping, is a bridge - as I said, this is very early. We will work on a 1to1 map.

So to summarize:

  • Not a wrapped version of NEX token, more like an equivalent on ETH
  • This is not happening soon
#3

thanks .

so no to it being a derivative … has anyone talked about minting of synthetic NEX ?

could price feed it off switcheo the premiere tokenised security exchange (ironically)
:wink:

#4

Well anyone can create a Nex erc-20 token right now but not sure how that would genuinely link to existing Nex tokens or Nash itself.

#5

Anything that derives value from a security is a security - so yes it would still be a security. However any of the AMM DEXs on ETH are already trading most DeFi tokens that are also dividend paying instruments so it shouldn’t be much different than those.

#6

However any of the AMM DEXs on ETH are already trading most DeFi tokens that are also dividend paying instruments so it shouldn’t be much different than those.

Do you know if lending platforms must adhere to similar regulations as brokers? I find it hard to believe the SEC won’t be chasing some of these platforms eventually.