Why voting yes to interest is in all our our interest (and is the only option based in reality)
I’ve decided to throw my two cents into the mix here, as many of the arguments to vote against the proposal are based on fantasies, not reality. This is not investment advice, but is rather what I believe to be a clear-eyed and realistic view of the landscape in front of us.
I believe many of the posts for dividends are well-intentioned but are completely missing the mark.
Here is my argument for why voting yes to interest is the only vote that truly makes sense:
1. Nexo WILL NOT be a security token when they go public for regulatory reasons. Coinbase considered having a security token, but decided against it for this very reason. Nexo has the power to change this at the snap of a finger, and it is virtually a guarantee that they will do so prior to public listing.
2. Token holders WILL NOT be sharing profits at that point, shareholders will. The legal obligation is to shareholders, not those who hold a crypto token. Those laws are long-standing and to pretend they don’t exist isn’t living in reality. Token holders will have absolutely no legal claim to dividends or profit sharing after Nexo goes public.
3. It’s possible token holders will be allowed to purchase shares, but unknown for now. But it’s obvious that token holders WILL NOT spontaneously be converted into shareholders. To leave all of that money on the table which could be garnered by selling the shares will never happen, no matter how noble the company is.
4. Since this change will happen before going public either way, no matter what fantasies people have, it makes the most sense to do so now and reap the potential benefits.
5. The current dividend structure offers little to nothing of value to new holders, though some longer term holders like it bc it seems to benefit them. In reality it doesn’t even benefit them because it greatly suppresses the token value and makes it far less stable.
6. Our security token status is making Nexo unable to fully compete in the US market, it is keeping us o...