Topic: SPTK - Revolutionary new cryptocurrency backed by index funds (Read 577 times)

Thank you for the feedback. We're working with a law firm currently (probably an old revision of the whitepaper, I'll make sure that gets fixed) and since we're selling tokens rather than actual equity, it's legal in the U.S. and most other jurisdictions, just like Tether.

Great question - each time a token is "minted," one share of the index is bought to back it, so no ICO funds are needed to buy shares of the index.

how to do this? i thank these are problems that each corporation has to face.

Is this an pre-announcement? because you have mention your mission/goal but still lack of some information about the project and your website is still on progress, anyway I will follow the thread for some updates.

Reading through your whitepaper, it's pretty unnerving to see that getting a legal team to "protect ourselves and our customers" is a future goal and not something already in place. It sounds to me like you're just assuming this will be legal based on a technicality. This is the kind of project that should have all kinds of information readily available, yet there is very little provided as of now... Getting real sketchy vibe overall.

The S&P Tether is a revolutionary new cryptocurrency that is backed 1:1 by shares of the S&P 500 index.
backed on index funds ? so you will use the funds from ICO to buy index or you already have it ?

"Some" experience won't cut it. What EXACT experience do you have? If you are lust opening LLC this indicates you don't really have ANY of the experience mentioned.

You are trying to gather my (and other community members) money here and you don't even have the essentials. So answering your question - Yes. This does help.

I think thead is very little about the project and the concept that is being done, I just hope it will survive in the future, with the many emerging competition

this is a very simple thread, I really want to know who is behind this project, it will make this project more trusted and can attract many investors

If you are talking about backing things with real life assets you are probably already have some assets. Could you please provide more info about your company?

Our site: http://sptoken.wordpress.com, top-level .io coming soon.

What is S&P Token?
The S&P Token is the first of its kind - a cryptocurrency backed 1:1 by U.S. securities. By tokenizing index funds, we allow crypto-investors and traders to have better market exposure, offering scalability, diversity, and intrinsic value of an investment, without the difficulties that come with traditional brokerage.

Why should I join?
The S&P Token holds real-world value as each token in circulation is backed by one share of the S&P 500 Index. This allows cryptocurrency investors to gain exposure to the broader and more stable U.S. market without needing to go through an investment firm, as well as allowing for greater scalability.

How does it work?
Based upon the Waves network and sold peer-to-peer, on exchanges, or through our website S&P Token opens up whole new worlds of possibilities in cryptocurrency.
Tokens can be redeemed by us at any point for 95% of the current value of the index, or sold to another investor on the Waves DEX.
Each time a new token is issued, we buy one share of the Vanguard S&P 500 index fund. This means that every token is backed by real-world assets, and offers stability, anonymity, convenience, and scalability to our users.

Read our whitepaper:
https://drive.google.com/file/d/0B8Uea9vRbSh-MW43XzV4bFU1ZEE/view

I'd love to hear any thoughts or feedback on the token from you - feel free to comment or shoot me a PM!