Quote:
Originally Posted by Skillet83
Here you go:
slt.finance
I hold just a bit over 5000 SLT tokens, one of my larger holdings, massive upside here. June will be an interesting month: platform goes live, tier 1 exchange announcement, staking paid in SLT, properties listed.
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Okay. See my previous post on SLT - it's definitely an unregulated security and is most likely illegal in the US. On the site it specifically says STL is available for trading on the Atomars network, which appears to be specific to Eastern Europe and Asia. So, this is an interesting concept, something I wrote about a few posts ago. In this circumstance I would want to be GP, not simply a "token holder". At this point in time, from looking at the website, there is no backing for any of the tokens or coins. I did sign up to look at what properties were available and they appear to be just equity raises for planned developments with some fancy cgi renderings?
They appear to have raised $37M as of today, based upon 5M tokens in circulation. I'm a bit confused by what they are selling or what is backing this?
I can totally see some type of market for this type of real estate-backed crypto, but this would be nothing more than a REIT whose shares are traded with crypto, instead of on a stock market. Essentially REITs should trade close to their book value - I don't see how investing in an crypto-backed SLT would generate better returns in the long run than a well-run REIT?
Unless I'm missing something. I'm happy to learn and be educated on this topic...
-Wayne