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Shadow Exchange: Launching on Fantom Sonic
thedinarian
February 21, 2024
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We are thrilled to announce Shadow Exchange, a new innovative concentrated liquidity exchange built for Fantom Sonic. Leveraging Sonic’s improved smart contract execution, Shadow Exchange will improve efficiency and liquidity conditions of Fantom’s best native pairs.

Why Shadow Exchange?

In a sea of decentralized exchanges (DEXs) on Fantom one might wonder, why another ONE? Shadow Exchange is not just another addition to the multitude, It’s a response to the demand for more flexible, efficient and user-centric trading solutions that go beyond traditional AMM offerings (while also taking advantage of the enhanced TPS and finality of Fantom Sonic).

  1. Concentrated Liquidity Farming Incentives
  2. Custom Fee Split Between Liquidity Providers & xSHADOW Voters
  3. Improved Rebase, Staking, and Tokenomics

Dual-Token Dynamics: SHADOW and xSHADOW

                                             xSHADOW & SHADOW Explained

At the core of Shadow Exchange’s approach are our two native tokens: SHADOW and xSHADOW. This dual-token model is devised to empower users with flexibility, voting rights, and rewards:

  • SHADOW: The primary token for trading, staking, and liquidity provision.
  • xSHADOW: Represents staked SHADOW, granting holders voting rights and a share of the protocol’s fees and emissions.

100% of ALL emissions go to gauges and xSHADOW; there are no team emissions or other distributions.

PVP Rebasing Mechanism

A core element of the Solidly model was the rebasing of locked position sizes to prevent a user’s stake from being diluted by new emissions. This anti-dilution mechanic for veTOKEN holders allowed them to maintain the same percentage of ownership of the protocol fees week over week without requiring them to buy and lock more tokens.

However, this method has a significant flaw: the absence of an exit penalty mechanism. Without such a measure, the system accumulates dead voting power, as users hold veTOKENs indefinitely, without active participation, and still influence the protocol without contributing to its current or future success.

xSHADOW fixes this with a unique “PVP Rebase” system, acting as a dilution protection mechanism for its holders. Unlike traditional rebasing models that adjust locked position sizes to counteract the effects of new emissions, xSHADOW’s allows users to exit early, sacrificing 50% of their voting power. This rebase mechanism not only discourages premature exits but also ensures that the remaining participants’ stakes are not diluted by new entries.

No Long-Term Locks

Shadow Exchange eliminates the constraints of long-term token locks by abandoning the veTOKEN model with xSHADOW. This new system has a MAXIMUM lockup of six-months, whilst offering users the ability to exit either linearly, or immediately with 50% penalty. It’s important to note that linearly exiting means users will lose their ability to vote on gauges, prioritizing those who remain actively engaged with the platform.

Custom Fee-Share

In addition to concentrated liquidity, Shadow Exchange offers custom fee splits for liquidity providers. Fees and emissions reflect the risk that liquidity providers take in providing liquidity to expected volatility. Depending on the pool, fee-splits can be optimized to better incentivize liquidity providers and best support the pool in question. Popular high volume pairs like FTM/USDC may opt for a higher fee split and reduced SHADOW emissions. Whereas new or exotic pairings may choose to earn a lower percentage of fees and increased SHADOW emissions until volume picks up. Optimizing fee-split for high fee generating pools is ideal as their fees can fully sustain and incentivize these high volume pairs. Either way, liquidity providers and projects can now dictate how their liquidity is rewarded.

Concentrated Liquidity

                                        Concentrated Liquidity Ranges

At Shadow Exchange, we’ve refined the concept of concentrated liquidity (CL) to optimize capital efficiency and reward our liquidity providers. This approach allows participants to tailor their liquidity to effective price ranges, enhancing their potential returns compared to traditional liquidity provision methods. By focusing capital where it’s most effective, Shadow offers superior rewards for liquidity providers but also ensures tighter spreads and more stable pricing for traders, regardless of how much overall liquidity exists.

                        Concentrated Liquidity versus Regular AMM Exchange

In a demonstration of concentrated liquidity’s efficiency on Shadow Exchange, consider Alice and Bob each looking to provide liquidity to an FTM/USDC pool with $1,000,000 at an FTM price of $0.45 USDC. Alice spreads her investment across the full price range, by depositing $1m in FTM/USDC. Bob, however, opts for a concentrated approach, allocating $183,500 within the 0.3–0.6$ range and keeping the remainder.

Despite Alice’s larger capital input, both earn equal fees if FTM/USDC stays within Bob’s chosen range. Moreover, if FTM were to go to zero, Bob’s strategy limits his potential loss to $159,000 compared to Alice’s $1,000,000, giving him flexibility to reinvest or hedge with his remaining capital — while still earning the same rewards!

This implementation is the most ideal on a chain like Fantom, slippage is real and exasperated with low liquidity and by concentrating liquidity, Shadow Exchange will perform better with significantly less liquidity than your typical AMM.

Initial Supply Distribution

                                        Shadow Initial Supply Distribution

The initial supply distribution of SHADOW tokens is structured to support the long-term health and growth of Shadow Exchange. Our initial token distribution is designed to ensure a balanced allocation that prioritizes sustainability and community involvement:

  • Airdrop (20%)
  • Contributors (20%)
  • Partnerships (20%)
  • Reserves (20%)
  • Liquidity Generation Event (LGE) (10%)
  • Protocol Owned Liquidity (POL) (10%)

Important Dates

Stay tuned as we release our plans to reward the Fantom community — details on this airdrop will be revealed shortly! We will also be releasing another article which will delve into the specifics of the supply numbers and details surrounding the LGE.

March 9th: LGE Event

End of March/Early April: Official Shadow dAPP Launch!

Join the Shadow Exchange Community

As we embark on this exciting journey, we invite you to join the Shadow Exchange community and be a part of the future of Fantom:

LGE Event:  March 9, 2024 11:00 AM
Shadow dAPP Launch:

Late March/Early April (This tells us Fantoms Sonic is on the way before then ;)

Website — shadowdex.fi
Twitter — @ShadowDexFi
Discord — discord.gg/shadowexchange

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Attempted Theft of the World's Most Valuable Property, SEC Lawfare & The ETHgate Scandal

It is widely accepted that the media often spreads misinformation and hides any truth that challenge the establishments narratives. Well, this is one of those hidden truths...
 
Loans without Banks, Trades without Exchanges, Contracts without Lawyers. Peer to Peer Capital Markets disrupts traditional finance by removing middlemen and counter-party risk, enabling you to become your own bank by holding the keys to it all in your own privately held digital wallet.
 
To what lengths do you think the establishment would go to defend their control of the financial system? A system seemingly ripe with market manipulation, naked shorts, money laundering and regulatory capture.

The Myth of Open Source

For context, in the realm of open source, major corporations can engage in Intellectual Property theft by using open source projects to gain insights, technology, or legal protections without fully reciprocating to the community. Companies might contribute code to an open source project, only to later use that same code in commercial products, extending it with enhancements, essentially using open source as a low-cost R&D resource. Patents are crucial here, serving as a defense mechanism. Although open-source licenses cover copyrights, they don't extend to patents, meaning that companies holding patents can enforce legal protections against unauthorized commercial use, ensuring that any commercial application of their patented technology within open-source software requires proper licensing or recognition. This protection has historically led to the hyper-growth of industries like mobile phones and the internet, where patented technologies could be safely shared and built upon, promoting innovation and market expansion.
 

Validating Inventorship

In fields such as technology, pharmaceuticals, and manufacturing, patents are vital for safeguarding new inventions, with Nikola Tesla's extensive patent portfolio serving as a testament to his contributions to science.
 
However, Tesla's revolutionary inventions, like the Wardenclyffe Tower which aimed at providing free wireless energy, faced fierce opposition due to their potential to disrupt established control over energy markets. Financially sabotaged by investors like J.P. Morgan, legally challenged through "the war of currents" by Thomas Edison's promotion of the less efficient Direct Current system, and undermined by media smear campaigns, Tesla's work was systematically suppressed. After his death, the FBI's seizure of his documents further suggests efforts to control or conceal his ideas that could disrupt centralized energy distribution, illustrating how innovation can be stifled to maintain existing power structures.
 
Could this type of suppression still be happening today?
 

The Genesis of Decentralized Finance

Reggie Middleton first introduced Distributed Finance what would later become known as Decentralized Finance (DeFi), in 2013 when he invented and patented technologies under the title "Devices, systems, and methods for facilitating low trust and zero trust value transfers." This included groundbreaking concepts like programmable Smart Contracts, Swaps, Tokenized Assets, NFTs, Stable Coins, Digital Wallets, and even underpin Central Bank Digital Currencies (CBDCs).
 
 
Called by many as "The Most Valuable Property in the World", his patents US11196566B2, US11895246B2, JP6813477B2, JP7204231B2, JP7533974B2, & JP7533983B2 have been cited over 138 times by major financial institutions, underscoring their foundational role in the blockchain industry.
 

His patents cover:

  • Trustless Peer-to-Peer Value Transfers: Systems for enabling decentralized and secure value transfers between parties without the need for intermediaries. Applicable to cryptocurrency transactions, DeFi platforms, and digital payment systems.
  • Decentralized Financial Systems (DeFi): Methods and devices that facilitate decentralized trading, lending, borrowing, and yield generation. Impacting decentralized exchanges (DEXs) like Uniswap, SushiSwap, and similar platforms.
  • Smart Contracts: Implementation of self-executing contracts on blockchain networks, used to automate agreements and enforce conditions without intermediaries. Essential for platforms such as Ethereum, Cardano, and other Layer-1 and Layer-2 blockchain protocols.
  • Tokenized Asset Trading: Methods for creating, transferring, and trading tokenized assets, including cryptocurrencies, non-fungible tokens (NFTs), and digital securities. Platforms like OpenSea, Rarible, and asset tokenization platforms may fall within the scope.
  • Cryptographic Security and Wallet Systems: Systems for securing digital assets using cryptographic methods, including cold storage, multi-signature wallets, and multi-party computation (MPC). Potential overlaps with services offered by companies like Coinbase, Kraken, Gemini, and institutional custody providers.
  • Decentralized Identity and Verification Systems: Technologies for managing and verifying digital identities on decentralized networks, including for KYC (Know Your Customer) purposes. Likely touching on identity solutions like Civic, BrightID, and Blockstack.
  • Blockchain-Based Voting and Governance: Systems for implementing decentralized voting, governance, and consensus mechanisms, foundational to DAO (Decentralized Autonomous Organizations). Relevant to governance platforms like Aragon, Snapshot, and MakerDAO.
  • AI Economic Agentic Computing: First introduced by the VeADIR Platform refers to the application of autonomous agents in economic systems, where software entities can make decisions, negotiate, and execute transactions independently. These agents use artificial intelligence to analyze market data, predict trends, and optimize economic activities like trading, resource allocation, and supply chain management. Used by OpenAi, Claude Sonnet, Meta and xAI.

The societal value of these patents to disrupt traditional financial models and fintech business practises, by essentially removing the banks as middlemen, create significant economic incentives to suppress his work.
 

True Decentralization

Current Decentralized Exchanges (DEXs) often fall short of being truly decentralized due to various practical and structural limitations. Although DEXs leverage blockchain technology and smart contracts to enable trading without a central authority, aspects like governance, liquidity, and user interface can introduce centralization. Governance tokens might be concentrated in the hands of a few, influencing decision-making unevenly. The frontend, controlled by developers, represents a centralized point of control or potential failure. Liquidity pools can be dominated by a handful of large providers, leading to centralized liquidity dynamics. Some DEXs implement regulatory compliance like KYC/AML, which inherently involves centralized oversight. The use of layer-2 solutions for scalability might also undermine decentralization if not fully autonomous.
 
However, patents like US11196566B2 and US11895246B2 could pave the way for true decentralization by introducing innovations in blockchain interoperability and decentralized governance mechanisms. These patents potentially offer solutions for more evenly distributed control over exchange operations, enhancing the autonomy and distribution of decision-making, thus moving closer to genuine decentralization in the DEX ecosystem, which can be expanded to other industries like Healthcare, Supply Chain, or any other industry that trades value.
 

Who is Reggie Middleton?

Reggie Middleton, through his BoomBustBlog, became a notable figure in financial analysis, particularly for his early and accurate predictions regarding the collapses of Lehman Brothers and Bear Stearns during the 2008 financial crisis. His blog was renowned for providing in-depth, contrarian insights into economic trends, investment opportunities, and corporate vulnerabilities. Reggie won the CNBC's stock draft consecutively for two years, and appeared on major financial news networks like CNBC, BBC and Bloomberg where he discussed market trends, his forecasts, and the implications of financial strategies adopted by major firms. His track record has undeniably positioned him as a significant voice in the financial commentary space.
 

Reggie's work gained public attention when he appeared on the Keiser Report and CNBC in 2014, premiering his innovations built on the Bitcoin blockchain called "Ultracoin", two years before Ethereum captured the crypto limelight.
 
 
His vision was to create sound markets for a financial ecosystem where loans could be issued without banks, trades executed without exchanges, and contracts enforced without lawyers, aiming to disintermediate traditional finance by removing the middleman that doesn't add value.
 

 
In 2014, Reggie pioneered a simple Apple trade using a Pure Bitcoin Wallet: The Ultracoin Client.
Ultracoin later renamed VERI short for “Veritaseum” meaning "of truth", was the
first to market in tokenizing precious metals, offering VeGold, VeSilver and even tokenized fiat currencies or so called "Stablecoins". Veritaseum also introduced VeRent creating yield through P2P lending, and the revolutionary VeADIR platform, an autonomous, blockchain-powered research platform that independently evaluates and acts on dynamic research in real-time, communicates in machine language, and operates by purchasing, analyzing, and distributing insights on various assets while allowing VERI token holders to access and trade this research.
 
In 2018 he created the worlds first Gold Denominated Blockchain Mortgage
with traditional written note, mortgage as well as a smart contract on a public blockchain, both of whom incorporate each other by reference. The transaction had traditional title insurance and the note was recorded with the county clerk. The mortgage was denominated in Veritaseum's VeGold product, a digital form of gold in bearer form, fully transferable and redeemable upon demand.
 
 
Merely a few examples of groundbreaking products offered by Veritaseum.
 

Coinbase's Challenge: The Patent Infringement Suit

Coinbase, a dominant force in the cryptocurrency exchange market, enlisted the services of Perkins Coie, one of the largest patent law firms, to contest the validity of Reggie Middleton's patents.
They launched an Inter Partes Review (IPR) at the Patent Trials and Appeals Board (PTAB), arguing that Middleton's patents lacked novelty. An overwhelming 85% of patents are invalidated through this process. However, Coinbase's challenge was denied along with the appeal, thereby upholding and strengthening the validity of Reggie's patents.
This IPR challenge came after Veritaseum sued both Coinbase and Circle USDC for $350 million each over patent infringement. Unfortunately, Reggie's patent attorney and close friend passed away during this suit, so the cases has been dismissed without prejudice, meaning they can be negotiated or the cases reopened at any time. This leaves Coinbase in a precarious position, especially if shareholders have not been properly informed of this risk.
 
This lawsuit details how Coinbase's infrastructure, specifically its Ethereum and Solana validator nodes, engage with client devices to facilitate transactions. Exhibit #3 meticulously outlines the patent's claims, detailing the roles of computing devices, the use of memory for key pair storage, network interfaces for transaction terms, and the generation and dissemination of transaction data records. It provides concrete examples such as the processing of NFT transactions on Ethereum and the management of transaction fees on Solana, supported by in-depth references to code and API interactions. Furthermore, the exhibit explains the verification of transactions through an external state, illustrating how Coinbase's technology aligns with the patent's principles for decentralized transaction processing without a central authority.
 

SEC's Intervention: A Turning Point

In 2019, with promising negotiations on the horizon with both the Jamaican and the Nigerian Stock Exchanges for digital asset platforms, Reggie's world was turned upside down.
 
The SEC accused Reggie of fraud, alleging he misled investors about the functionality of Veritaseum's VeADIR platform, which the SEC ordered to be shut down following a live demonstration. The SEC also made claims on the validity of Reggie's patent applications, which have since been approved by both the USPTO and the Japan Patent Office. Oddly enough, the SEC may actually infringe on these very patents through the disgorgement and storage of seized crypto tokens.
 
Despite Veritaseum's cooperation with the SEC over a two-year period, along with a detailed response addressing the SEC's allegations, and not one token holder claiming to be defrauded, these allegations still led to a Temporary Restraining Order (TRO) that froze millions in assets, destroying the company's operations, and forcing a consent judgment "neither confirming or denying the allegations". The SEC would top it all off with a gag order that barred Reggie from publicly discussing the matter.
 
Keep in mind, the SEC is claiming jurisdiction by calling Utility Tokens "Digital Asset Securities" but recently SEC Commissioner @HesterPeirce stated:
 
"...by using imprecise language we've been able to suggest the token itself is a security, apart from that investment contract, which has implications for Secondary Sales, it has implications for who can list it...
 
We've fallen down on our duty as a regulator not to be precise. So, tucking into a footnote that yes we admit that now that the TOKEN ITSELF IS NOT A SECURITY, that is something we should have admitted long ago and then started wrestling with the difficult questions."
 
 
This calls into question if the SEC even had jurisdiction to bring forth this case to begin with. The Veri Community would later challenge the SEC's unproven allegations against Reggie with
a Dossier supporting the Vacating or Setting Aside of this case, and suggesting possible misconduct by the SEC.
 

Allegations of SEC Misconduct:

  • Misrepresentation of Facts: Assertions that the SEC deliberately mischaracterized the
    functionality of the VeADIR platform, along with the patents and their value, by labeling them as lacking novelty and part of fraudulent activities.
  • Misleading Evidence: The SEC's use of declarations from Patrick Doody and Roseann Daniello, which contained misleading information about the personal ownership of a Kraken account used to misappropriate funds. Doody would later correct his statement, but the SEC did not update the court with this new information, potentially misleading the judicial process.
  • Conflict of Interest: Doody's undisclosed financial interests in the digital asset space through Lily Pad Capital LLC could suggest a bias in his testimony, which was pivotal in obtaining the TRO.
  • Coercion and Intimidation: Witnesses like Lloyd Cupp and John Doe provided affidavits claiming coercion by SEC attorneys to alter their testimonies, pointing towards witness tampering and intimidation.

placeholder

Summary Articles of the Bar Complaint and RICO Dossier

 

Comparisons with the SEC Misconduct in the DEBT Box Case

The DEBT Box case shares a troubling parallel with the Veritaseum case. In both cases a Temporary Restraining Order (TRO) freezing funds was issued using dubious evidence which suppressed the ability to defend themselves. This behavior was already admonished by five US Senators
in a letter to Commissioner Gary Gensler in which the SEC presented misleading claims in this now high-profile cryptocurrency case.
 
"Regardless of whether Commission staff deliberately misrepresented evidence or unknowingly presented false information, this case suggests other enforcement cases brought by the Commission may be deserving of scrutiny. It is difficult to maintain confidence that other cases are not predicated upon dubious evidence, obfuscations, or outright misrepresentations."
 
Given the similarities in alleged procedural misconduct between the cases, it raises systemic questions about the SEC’s litigation approach in cryptocurrency matters.
 
 
This parallel underscores a potential agency-wide issue that could involve either implicit biases against crypto companies or an explicit strategy to pursue aggressive, potentially misleading tactics in court.
 

Is The Fox Guarding the Hen House?

In a significant development, the Attorney Grievance Committee (AGC) has decided to forward a complaint against SEC attorney Jorge Tenreiro to the SEC's Office of General Counsel (OGC) for investigation. This controversial move suggests a potential conflict of interest, given that the OGC is part of the SEC, the very agency where Tenreiro was recently promoted to Chief Litigation Counsel. The complaint, filed by the Veri community, accuses Tenreiro of misconduct including alleged coercion, witness tampering, and misrepresentation during SEC investigations. The Veri Community argues that this decision undermines the integrity of the legal process, as the OGC's role is to provide legal advice and defend the SEC, not to independently investigate its own employees. This raises questions about the impartiality and transparency of the disciplinary process for attorneys, especially when it involves high-profile figures like Tenreiro.
 
"As noted in re Rowe, 80 N.Y.2d 336 (1992), the public’s confidence in the legal profession depends on transparent and impartial disciplinary processes. Delegating oversight to the SEC, where Mr. Tenreiro remains a senior official and where the OGC has a clear institutional stake, jeopardizes this confidence and risks the appearance of protectionism.”
 
The VeriDAO has submitted a response letter to the AGC along with creating a PDF generator
to help the estimated 100 complainants and anyone else interested in requesting the AGC to reconsider this action.
 

Legal and Judicial Trials

The legal battles would only continue for Reggie. The case of Hall v. Middleton, in which Hall, a 1% shareholder sued Reggie, raises concerns of judicial bias and procedural mishandling. In this case, Reggie was denied Due Process and barred from presenting crucial evidence or calling witnesses due to his former attorneys' "Office Failures" that missed deadlines to submit evidence without the knowledge of Reggie or the firm Brundidge & Stanger that outsourced his counsel as detailed in their affirmations.
 
"In my many years of practice it is a rare instance where I have witnessed an attorney intentionally not file critical documents as required by Court Order without the permission or knowledge of his client, who had an established and fully developed attorney client-relationship with said attorney, and then misrepresent that the requirements of the Court Order were being satisfied. This is one of those instances and I hope not to see another."
~ Carl Brundidge
The judge ruled that Reggie must:
  • Pay a $1M fine to his company Veritaseum Inc., in which he owns 99%
  • The plaintiff was awarded costs of $495k against Veritaseum Inc.
  • The Judge ordered Patents (filed before the creation of Veritaseum Inc.) to be assigned to the company without compensation.

Attorney's "Office Failures":

  • Sheridan England missed critical deadlines, resulting in the striking of exculpatory evidence. England’s inaction or inadequate defense exacerbated Middleton’s legal vulnerability, directly leading to adverse outcomes.

Judge Schecter’s Conduct:

  • Ignoring Exculpatory Evidence: Despite knowledge of its existence, Schecter struck Middleton’s post-trial memorandum.
  • Procedural Bias: The judge’s decisions systematically favored Hall, including allowing him to collect attorney fees from Middleton personally, contrary to the principles of derivative law.
  • Forced Patent Transfers: Schecter’s order to transfer patents to an underfunded entity (Veritaseum) which were court restrained by the same judge, rendering them defenseless against attacks and IP theft.
This ordeal was compounded when Reggie was held in Contempt for using personal funds (while Veritaseum’s funds were court-restrained) to successfully defend his patents against an IPR challenge by Coinbase in the PTAB of the USPTO in an attempt to invalidate these patents. The Forced Patent Expropriation to Veritaseum without compensation or the ability to defend them could be seen as coordinated as it benefited very large competitors seeking to avoid licensing fees or infringement claims, or possibly even IP Theft.

ETHgate: The Broader Conspiracy Allegations

Parallel to Middleton's struggles, "ETHgate" emerged, involving allegations by Ethereum co-creator @StevenNerayoff. Nerayoff claimed a government conspiracy aimed at controlling or monopolizing cryptocurrency development by targeting key figures. This narrative suggested that by attacking innovators (like Reggie Middleton as the Veri Community contends), the SEC might have indirectly cleared a path for Ethereum, which, despite its decentralized claim, benefited from a regulatory environment less scrutinized than its competition.
 
The term "ETHgate" encapsulates the belief that Ethereum's "Free Pass" from regulatory scrutiny might not just be due to its technological merits but also due to strategic regulatory maneuvers, where attacking smaller or less established DeFi projects could safeguard larger, more influential platforms like Ethereum.
 
Back in 2021, @JohnEDeaton1 from @CryptoLawUS explained XRP's side of Ethereum's "Free Pass". More recently, further SEC RICO Claims are insinuated in "RIGGED from the start" a documentary by @Fruition_News , along with posts by @KuwlShow and the XRParmy involving the SEC, Ethereum, a16z, and Consensys surrounding the Bill Hinman speech. Active FOIA requests by @EleanorTerrett seek to shed light on meetings between Hinman and Ethereum members.
 
Given the SEC protection of ETH and the high probability of Ethereum infringing on Reggie Middleton's patents as meticulously detailed in Exhibit #3 of the Coinbase case, is it ridiculous to believe Reggie Middleton could have been targeted?
 

 

Community Support: The Backbone of Resilience

Despite the SEC's narrative labeling them as "The Defrauded," the Veritaseum community rallied around Reggie.
 
                          SmartMetal with embedded NFT avalaible through VeriDAO.io
 
Financially devastated and with his funds frozen, Reggie faced foreclosure and was threatened with jail time after contempt charges for defending his patents using personal funds. In a remarkable show of support, the Veri Community rallied, raising an impressive $149,000 in less than two weeks to cover the fine while the case is under appeal.
 
They funded legal battles largely through donations and more recently with innovative means like NFT silver rounds called SmartMetal using Reggie's patented technologies, underscoring their belief in his vision. The first minted round was auctioned off for an astonishing $14,000 won by "M S"
 
"There is no better witness to the veracity of any defense than the alleged defrauded defending the alleged fraud at their own expense"
~ The Veri Community
This community support was not just financial but also moral, with efforts such as an Amicus Brief in the case against XRP, a No Action Letter (NAL) seeking clarity on secondary market sales of tokens, a Bar Complaint against the SEC's newly promoted Chief Litigation Counsel, and the @dao_veri's
#ProjectSunlight The SEC RICO Revelation.
 

A Call for a New Regulatory Paradigm

 
Reggie Middleton's saga is emblematic of the challenges faced by pioneers in the blockchain and DeFi arenas. His patents, now granted, underscore their foundational nature, yet the path to their recognition was marred by legal battles, suggesting a systemic issue where the regulatory framework might not fully comprehend or support emerging tech. His resilience, supported by an unwavering community and the validation of his intellectual property, underscores the need for a regulatory environment that fosters rather than stifles innovation. As blockchain technology continues to evolve, Reggie's story serves as a critical reference for balancing innovation with legal and ethical governance, ensuring that the future of finance remains open to all, not just those with the resources to navigate the legal maze.
 
For more information visit https://veridao.io/
 
 
I know what everyones question is, "HOW CAN I GET MY HANDS ON THE $VERI TOKEN BEFORE EVERYTHING GETS REVERSED AND RELEASED BACK TO THE COMMUNITY?" 
 
Your in luck: Mark is a trusted source, longtime Veri Vet that beta tested the VeADIR platform. Simply follow the thread below. I highly advise picking up a few, and tuck them away! This is the token that could literally FLIP BITCOIN $100k and beyond!
 
 

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thedinarian@thedinarian
13 hours ago
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SEC Drops Dealer Rule Appeal

 The US Securities and Exchange Commission (SEC) has abandoned its appeal of a contentious dealer rule designed to classify digital asset operations as regulated securities dealers broadly.

  • A federal judge ruled that the SEC had exceeded its authority by potentially categorizing nearly any participant in buying and selling securities as a dealer.

  • This decision is part of a broader reset in the SEC's approach to digital assets under new leadership.

  • The agency’s move to drop the appeal, amid concerns that continued litigation could reduce Treasury market liquidity and increase taxpayer costs.

  • Additionally, the SEC recently sought to pause its enforcement actions against Binance, indicating its readiness to resolve disputes through alternative means.

  • Blockchain Association CEO welcomed the dismissal, expressing hope for more productive discussions between regulators and the crypto industry as the US embraces a friendlier regulatory framework for digital assets.

What’s next: With acting chairman Mark Uyeda overhauling senior staff and legal strategies, the SEC is shifting away from its historically adversarial stance, a policy long associated with former chairman Gary Gensler.

For builders and investors: The new approach encourages constructive conversations between regulators and industry players, potentially leading to clearer guidelines and a more predictable operating landscape for both builders and investors.

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thedinarian@thedinarian
14 hours ago
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Tether Teams Up With US Lawmakers on Stablecoin Rules

Tether is reportedly working with members of the US House Financial Services Committee, specifically Representatives Bryan Steil and French Hill, to shape federal stablecoin regulations.

  • This includes contributing to the STABLE Act introduced by both lawmakers in early February, as well as offering input on two additional stablecoin bills.

  • According to Tether CEO Paolo Ardoino, the company wants its perspective heard during the legislative process and is prepared to adapt to US rules.

  • The new rules may include requirements like monthly reserve audits and 1:1 collateral backing.

  • Tether’s involvement comes amid broader regulatory discussions, including meetings between crypto industry leaders and the SEC, and the push to bring stablecoins onshore.

  • Meanwhile, the Federal Reserve is warming to stablecoins as a means of preserving the US dollar’s global dominance but remains concerned about risks such as de-pegging events and market fragmentation.

What’s Next: Tether’s collaboration with lawmakers suggests that stablecoin regulations could soon take a more defined shape and may introduce stricter compliance measures, including mandatory audits and full collateral backing.

Why it Matters: If lawmakers strike the right balance, stablecoins could cement their role in global finance, benefiting both the crypto industry and the broader economy.

Our Take: If Tether and other stablecoin issuers adapt to US regulatory frameworks, it could bring legitimacy to the stablecoin sector, encourage institutional adoption, and integrate crypto more deeply into the traditional financial system.

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