Key Takeaways
JPEX, a digital asset buying and selling platform, has initiated a DAO stakeholder dividend scheme.
70% of taking part customers have reportedly agreed to the scheme.
Lawmaker Huang Junshuo warns that changing from collectors to shareholders might entail debt dangers.
The platform is below suspicion for fraud, with no less than 11 arrests and practically HKD 1.37 billion concerned.
Scheme Particulars and Consumer Participation
JPEX, a digital asset buying and selling platform suspected of working with no license, in response to ON.cc, lately proposed a “DAO Stakeholder Dividend Scheme” for person subscription. In accordance with the scheme, customers can convert their dividends into an equal quantity of Tether (USDT) with a two-year lock-in interval. The voting for this proposal began on September 22, and JPEX claims that 70% of taking part customers have agreed to it. Nevertheless, the platform didn’t disclose the whole variety of voters.
Lawmaker’s Warning
Accounting sector lawmaker Huang Junshuo, talking on a radio program on September 23, warned that below this scheme, buyers would solely obtain a most of 49% in dividends. This means that the controlling stake nonetheless lies with JPEX. Huang cautioned that changing from collectors to shareholders doesn’t essentially imply the retrieval of funding funds. If the corporate incurs debt, buyers could possibly be liable.
Authorized Troubles and Monetary Dangers
JPEX is at the moment below suspicion for fraud, with no less than 11 individuals arrested and practically 2,200 stories filed. The quantity concerned is roughly HKD 1.37 billion. The voting will proceed till 8 PM on September 28 to resolve whether or not to implement the scheme.
Monetary Implications
The platform claims to supply 49% DAO stakeholder dividends, with a complete worth of roughly 400 million Tether (equal to about HKD 31.29 billion) for exterior subscription. Current customers can trade their belongings saved on the platform at a 1:1 ratio for dividends. The platform will purchase again at 1% of the trade worth initially, 30% after one 12 months, and 100% after two years.
Picture supply: Shutterstock
