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Tea 2.0? (The linked medium article has lots of angry comments from early adopters thinking they should receive more tokens)
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this post was submitted on 03 Mar 2024
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Programming
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If you are interested in cryptocurrency perhaps it is worth to cooperate on an established, known to not be illegal security project rather than starting your own.
None of them do what I’m trying to do but thanks for the advice. I’m working on a DApp in the Cardano ecosystem that uses data from an Oracle on Ergo. Not sure if you consider Cardano or Ergo illegal securities but the SEC hasn’t come after them YET.
I have never heard of ergo but if they had an ICO they probably did start an illegal security. Cardano has all the elements of a security. So it is just a matter of time, SEC is taking it slow. I believe the SEC is trying to set a series of legal precidents to be able to take down the 'root of all the evil' - Ethereum. Copycats will easily fall later on.
I suppose, if it comes to that, nothing is stopping devs like me from hard-forking Cardano's open source code and launching that fork with a 100% public initial token allocation. I've honestly already been considering that option for a while now.
Hopefully you're wrong and it never comes to that.... but I'd be ready if it did, for sure.