Not what weâre doing. The tokenization models you described (excluding superstate) are great, but they are insufficient by themselves, because you donât actually own the security entitlement. Statutory rights do not apply to you the holder. You pay too many taxes ïŒin your case double which is just absurd). Ultimately if you buy USA stocks, you want USA law. You need to subject yourself to USA courts. The IRS. All sorts of things. Most non USA companies donât want to do that. Hence why they end up building an incomplete product. So what is Backpack doing? Youâll see soon. Long story short, these issues wonât apply to us. Youâll actually own the stock. IBKR/Robinhood style. You will have the correct tax rate. And the legal substance you would expect in a traditional stock product without gimmicks.
With the CFTC putting the full force of law behind regulated perps, with the SEC bringing securities onchain, with the biggest IPO in history about to pop, get ready, because it's time to go.