Dave Hendricks

CEO/Founder @vertalo_ - agentic tokenization/TA platform
Creator the Innovation Exemption Orchestration Platform
publisher @tokenplaybook

[Dave Hendricks @davehendricks]

You can just go to https://t.co/2ojV8QtL5r

It’s built based on the letter of the Exemption

And every single comment submitted

And every single TSV filing

And every 3rd party token

And all NMS and ETP and market feeds

And much more

It’s live

Tested 10s of millions of times

It manages and orchestrates all of that, harmonizes and synchronizes the TSV-Issuer-TA relationships and provides the checks on all parties.

[Dave Hendricks @davehendricks]

@cryptoreine Can't have a skyscraper without a foundation

[Aptos @Aptos]

Digital asset infrastructure company @BitGo has announced that it has taken a strategic position in APT, the native token of the Aptos network.

It builds on work already live on Aptos: eligible BitGo clients can custody APT and assets built on the Aptos Digital Asset Standard, stake APT, and connect to @DecibelTrade straight from their self-custody wallets.

[Jacob Robinson @JacobRobinsonJD]

Formation Securities is now the fourth TSV to file notice with the SEC and the first intent to launch on Solana.

What did the Innovation Exemption actually solve to make this possible?

Formation president @cpmontagano calls it “the exchange problem.”

Spoke with Christopher about this for an upcoming @LawofCodeFM ep. on the Innovation Exemption.

[Dave Hendricks @davehendricks]

@ThomasFarley Great addition to an already great team!

[SecondParty @InnoExemption]

@EleanorTerrett @coinbase Issuer Backlash should be expected. This is new.

The Innovation Exemption is the true 'Genius Act'.

'What' the Exemption 'is' was covered in 60 pages.

'How' it works wasn't covered at all.

That's why we built https://t.co/qbvVdl0cPA

To manage the all-important 'How'.

[Dave Hendricks @davehendricks]

@Bullish Smart and Strong Move! 🚀

[Dave Hendricks @davehendricks]

You're awesome @HarryTran_RWA

Yes. it's true...I build stuff! I leave the smarter trading stuff to you all!

@Vertalo_ - the first and original agentic tokenization and transfer agency platform. Still the only TA that can manage both digital dematerialized (traditional book entry) and tokenized assets on the same ledger.

@TokenPlaybook - the global and real-time Deep Intelligence platform for RWA and Securities Tokenization - https://t.co/mt4C7fkXr2

@InnoExemption - the synchronization, harmonization, and orchestration platform for tokenized stonks...not just the ones under the SEC's new Exemption

[Dave Hendricks @davehendricks]

@RayBuckton This is why I have posted repeatedly, over and over, that Wallet #s and >>> Natural Persons.

It's a pretty basic concept.

And that Wallets are not a proxy for ID, either.

[Dave Hendricks @davehendricks]

@azaztrader01 https://t.co/FjfuVFHanv

@InnoExemption

The 60-page document is 100% 'What'

And 0% 'How'

So we built the 'How'

[Dave Hendricks @davehendricks]

The SEC's Innovation Exemption came out. Tokenized Stocks onchain are now tradeable. This is kind of a big deal.

But can you read every page of the Exemption? Why bother, I did that for you.

As a builder of agentic tokenization and transfer agency, serving issuers and their investors since 2017, this is exciting: Tokenized shares of listed US companies can trade onchain, in the US, for 5 years.

I built a platform to help you figure out what to do. @tokenplaybook

We analyzed the exemption and have broken down and created a 'runbook' of 14 steps to actually do it, 1 per post. Built from the 60-page order, not the press release. 🧵

[Dave Hendricks @davehendricks]

Mike, a couple of thoughts - after commercializing most of what your joint submission proposes - starting 8 years ago.

@vertalo_ filed its detailed submission letter on Sept 6th.

https://t.co/bzgeBJkUnY

We agree on these:

✅Modernizing the rules and keeping the wording technology-neutral.
✅Putting the wallet address in the record.
✅Keeping personal data off public chains.
✅Preferring outcomes to fixed prescriptions.
✅Using contract-enforced restrictions.
✅Treating ledger permanence as good for audit.

@Vertalo_ presented most of that to the commission in 2020 and our data structure is essentially the identical architecture to the recently proposed TA Rules. That doesn't mean we don't have issues. Our comment letter was 105 pages. And the biggest issue we raised concerned 'exclusive control'.

We started these conversations with the SEC and FINRA in 2018 and have been checking and confirming and pushing on these for years already. So we have mostly the same - but a much older - dog in this fight as the first to do any of this.

Here are the tougher parts about the group submission:

⁉️ The wallet address can replace the name and mailing address - This is not happening any time soon and frankly it is not practicable today.
⁉️ Any claim that a wallet address is a better identifier than a name
⁉️Any allowance for the issuer to hold freeze and forced-transfer powers - the letter puts forth a fairly radical proposal and of all the elements of the proposed TA rules, this is the one technical area where there is real debate between those of us who tokenize securities and those who don't can't.

I'm glad that you commented. Thanks.

As the co-chair of the Securities Transfer Association's Tokenization Committee (alongside Billy Miller who co-signed your submission), we welcome your participation in the discussions amongst the TA community members who share many of your thoughts about principled and technical approaches. Billy and I have been working on this hard alongside several other stalwarts.

@Equiniti @Bullish @Computershare @Securitize

[SecondParty @InnoExemption]

@HarryTran_RWA @RWAFoundation_ @RwaLlama @steinRWA @ZeusRWA @ScofieldOnchain @happytokenizing @RayBuckton @diegoxyz @skygecko_ @zinnresearch @RefractionRWA And this account

And @davehendricks

Thank you for your attention to this matter!

[Dave Hendricks @davehendricks]

@LorenzoARK As long as someone ‘owns’ a tokenization ‘standard’, nothing will happen to grow the market or adoption

For those new to this…walled gardens have naturally low ceilings.

As long as ppl believe the silly fat protocol thesis we will have fragmentation

[Dave Hendricks @davehendricks]

I spend a lot of time on this stuff.

I have spent a lot of time on how it writes

Writing to and directing humans is vastly diff than machines/agents

With few exceptions all written output meant for human consumption is pored over with excruciating detail placed on how a message is phrased and framed

Often messages have human portions and machine portions

However when it comes to inbound lead gen emails etc I let the agents do their thing

There is a real balance to be struck

Anyone who doesn’t have guardrails up - whether with AI or anything else - and is not looking at how well they work is going to fail at doing this or most things right.

When you outsource your thinking and feeling and communications w/o minding all of that, the immune response is fast

I’m sorry you might have gone over your skis

As a long time tree skier and etc I am very sensitive to the difference between a blue cruiser, a mogul field, and the trees.

[Dave Hendricks @davehendricks]

@AlexBerenson Say Hi to the rino for us!

[Aptos @Aptos]

Issuer-sponsored tokenized shares are headed to Aptos.

@Bullish has named Aptos one of the initial network partners for its equity tokenization services, built with transfer agent @Equiniti.

Issuers will be able to bring their shares onchain, with the official record of ownership still held by the transfer agent.

[ash 🇺🇸 @ASHAWONN]

let's go!

[avery.apt 🇺🇸 @AveryChing]

Equity tokenization means trillions onchain, a big step forward for the economic flywheel of tokenizing, yield, trading, borrow/lend, payments. Very proud to work with @Bullish to make this happen.

[Dave Hendricks @davehendricks]

@Bullish The three that matter most.

[Dave Hendricks @davehendricks]

@ElectionWiz @grok is Haley Stevens retaining her seat in congress?