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Today, WallStreetBets says it has selected BSCstarter to launch the $WSB token. The $WSB token is expected to be launched through an “Initial Dex Offering” (IDO) on BSCstarter’s platform. Token offerings become eligible following votes by the BSCstarter community. The fundraising process is said to be automated.
According to the organizers:
The WSB DApp, a decentralized application powered by WallStreetBets, is at the heart of the $WSB ecosystem that will reallocate the special privileges of closed-door institutions to the individuals in the community. The WSB DApp provides financial instruments on the blockchain that resemble index funds, which can provide portfolio diversification at low costs with strong long-term returns.
The public IDO is scheduled to go live on Tuesday, April 20, 2021, at 10 AM EST.
So is $WSB a security? Good question. You can review the “Litepaper” here that indicates US citizens may not be eligible for the token offering. The document states that the “whitepaper has not been created within a legal or regulatory framework for any jurisdiction.”
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