It looks like someone is trying to confuse forging rewards with dividends.
So let's clear this up.
Forging is basically the same thing as mining. Delegates are being paid to find blocks, just like every crypto out there. Instead of a fixed reward like most of crypto, we went with an annual percentage rate of 5%. This is also nothing new. Proof of Stake coins have been doing this since early 2013. One of the oldest coins Blackcoin does this and same with Peercoin.
Please ignore the people trying to cause confusion. They are just doing it for lulz. If anyone has a question I'm more than happy to answer.
But this statement ""The Company
may make a distribution to the holders of BLOCKPOOL in a sum equal to 5% of the Companies net profit after tax in any year." has nothing to do with DPOS earnings or? This is about profit sharing which would make BPL a security token. this is the concern...
The terms of service for the TEC stated that we hold the right to do that sort of thing but aren't obligated to do so. We did it this way because when we ran the TEC, revenue shares were still a VERY grey area for the SEC and they had not yet made a statement. We blocked all US FIAT purchases and at the time because things were pretty clear in those regards, the SEC had not yet made a statement about purchases in crypto. We are also a UK based company and aren't subject to US laws like US based companies are. While we understand that US based exchanges are subject to US law, we aren't focused on getting onto any of them anyway.
We also updated our documents to term them air drops as suggested by another member above. Hopefully this helps clear things up.
However the CFTC seems to take a completely different stance than the SEC does in saying that a utility token is not subject to SEC ruling. Blockpool is by definition a utility token.
