DATs for altcoins = IPOs
DeFi protocols can’t list directly on NASDAQ etc., so their tokens end up either:
- Traded on TradFi exchanges
- Wrapped inside DAT stocks listed on TradFi exchanges
I like DATs if they pump my $FLUID bags. But this market is crazy.
While we're token wrapping stocks, Wall Street continues to stock wrap our tokens.
Like here's a DAT for $FLUID.
Some DATs make sense to me, but wow, are we really going to have DATs for every DeFi asset too?
Like I love @0xfluid - huge supporter, but here's a NASDAQ stock buying $100m worth of DeFi tokens like Fluid, and I know it cost them millions in legal fees and setup to do so.
If Wall Street wants our crypto assets, it'd be way more capital efficient to give them regulatory clarity, then have all the brokerages integrate Fireblocks + Uniswap so they can buy these things directly.
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