Ok but this will definitely make SLT a security right? It wouldn't be great but I guess that in unavoidable?
I think I get you what you are trying to say/ask. You mixed up a grammar a little, no worries
Well our exchange platform is purely P2P and we do not have our private chain (block) so security on our exchange platform depends on how much transactions are secure from other platforms for example, Waves, Etherum, Strat, NEO etc. All of them have their own chain technology (transactions, smart contracts for something else except transactions etc) which our memebrs will use to execute trades.
Take a look
https://bisq.network ---> this one of many decentralized exchanges on the market.
Check out the most popular as well ---->
https://www.investinblockchain.com/best-decentralized-exchanges/A little bit about decentralized exchanges ---->
https://hackernoon.com/decentralized-cryptocurrency-exchanges-93039613eeb7I hope I answered your questions. If not please be free to ask more
Sorry for being imprecise, but I was rather referring to the SLT token being a security as per the SEC. And if the token represents a security there are a lot of additional regulatory implications. Is that correct?
Thank you for clarifying your query. No, SLt is not security token, is a utility token. It does not represent share of a company, it just represents companys services. In our case, our service is withdrawing crypto currencies on ATMs or spending with our card by selling your crypto currencies for SLToken and selling SLToken for fiat + trading tokens on our decentralized platform.
You are familiar with kucoin and binance exchanges, right ? imagine if they have a feature (mobile wallet, ecxchanger) where you can sell ( exchange your BNB token or KCS token for fiat on your card + their exchange platform is decentralized.
So, SLT is utility token not a security token.
You can find out more about the difference between security and utility tokens here --->
https://medium.com/@bonpay/security-tokens-vs-utility-tokens-1aa7531aabe8one more example is crypto bridge token and decentralized exchange
http://crypto-bridge.compart of the profit generated from trading fee will be distributed to SLT holders but not like dividends it is more like a informal "staking".