Jesse Powell

@jespow ↗

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Last Checked April 3, 2023

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Mon Feb 13 14:15:02 +0000 2023

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Jesse Powell @jespow

@lex_node I think the SEC's view is that if the user delegated their coins to you and you gave them more coins back without them "working", that's a security. Unfortunately, we are still left guessing about where the line is. Maybe someone with deeper pockets will invest in finding answer. — PolitiTweet.org

Posted Feb. 13, 2023

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Jesse Powell @jespow

@lex_node Without commenting on the Complaint itself, I believe most programs work like: Pay network reward minus a fee. Fee can be variable so user's reward can be fixed. Reserve the right to not pay if network fault. Pay user retention bonus if slashed. SaaS reward always <= on-chain. — PolitiTweet.org

Posted Feb. 13, 2023

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Jesse Powell @jespow

@0xcyp @lex_node And the program is also not allowed to charge a variable fee for this service? Not allowed to pay any user retention incentives in the event of it being responsible for the failure that led to the slashing? Most SaaS offer some uptime guarantee/SLA with compensation. — PolitiTweet.org

Posted Feb. 13, 2023