Setting up e-commerce / barter / whatever store

Hi - I’m setting up an e-commerce store that will accept ANT token oracle’d off of coinmarketcap based on USD pricing.

I can have a wordpress e-commerce store that accepts ANT token instead of USD and have the tokens go to a multisig. yay.

there may be some legal implications involving this process, and also i’m not 100% convinced i want to accept 100% ANT. For instance it might be better if prices were 60%ANT and 40%USD or something like that. I want to get the LexClinic team involved and see whether different arrangements could have different tax implications and securities or utilities requirements.

As an aside it seems like it might be useful to have a plan for dealing head on with the SEC - perhaps a proposal should be getting developed? maybe one already is?

For reference Soapstone whisky stones – Aragon dTech is the website where one may test this process… The whisky stones are harvested directly from our quarries in Schuyler Virginia and are unethically sourced.

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Thanks for this, Anson, I will leave it up to the lawyers, personally legal opinions should not be in the forum.

As for payment, I would say if you are seeking ANT, it is an inefficient means of payment, a more effective way would be to accept USDC and the site has an automatic mechanism for itself to buy ANT. This could be done in a smart balancer pool. Using it as a direct means of payment seems pretty inefficient for users and complex from a legal perspective. The auto-buy-back mechanism could be interesting, though.

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Hey Alex! this is the kind of solution i’m interested in discussing…

first up = i’m convinced that delegated voting or guardian voting or whatever you want to call it is a bad idea. the math on it is bad and many experts in liquid democracy have said that this is a mechanism to facilitate corruption - which i know is not what we as a community intend to do… so we need to find other ways for ANT holders to use their tokens and I want this to be a way that they can trade tokens in exchange for something essentially worthless (like the soapstone rocks in my back yard).

I’ve reached out to the LexClinic groups and will be looking for feedback on best practices. once we have a solution that is acceptable here it will be of use to a lot of other DAOs who want to trade ERC20s for real world objects. Also if there is research going on at Aragon that needs some sort of legal NDA to discuss i’m glad to jump on that as well

https://dlxlaw.com/wp-content/uploads/2022/11/The-Ineluctable-Modality-of-Securities-Law-DLx-Law-Discussion-Draft-Nov.-10-2022.pdf I believe this paper will be the defining source for most discussions - based on this I see very little reason for concern given that I am part of the community and working to raise ANT token from within the community of ANT holders. If there is a literate response to how this creates a security out of the token I’m glad to discuss.

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