Token Sale – September 2023

Have to agree with Frank here. The securities question, whatever the SEC or anyone’s opinion on the subject, is irrelevant. A private token sale to 7 counterparties for >$100m <$150m would actually strengthen the SEC’s argument.

Anyway even disregarding this whole regulatory issue, from a corporate governance standpoint it puts your public investors at a disadvantage against I’d imagine a pretty sizeable group of people involved in the transactions. By not disclosing material-non-public information such as the buyers identities and discounts paid you are eroding trust for current holders as well potentially incurring a huge legal liability down the line.

Besides, this is all useless since some way smarter people than me are going to find out were the OP went anyway. Blockchain architecture has it’s pros and cons :wink:

Just my 2 cents with tiny financial exposure to Optimism (as well as other chains), but I think OP has at the very least a long-term vision for the chain, unlike most other money grabs.

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