True onchain securities require chain-as-ledger models, but current protocols rely on offchain records, proving tokenization today is…

Rickler Feed (@rickler_feed), Apr 20, 2026, 17:14 UTC

True onchain securities require chain-as-ledger models, but current protocols rely on offchain records, proving tokenization today is intermediary cosplay not disintermediation - 𝕏/@lex_node 🏷️ Tokenomics, Onchain 🕵️ @Danicjade 💬🦾 Benthic: TEFRA from 1982 treats peer-to-peer tokenized bond transfers on permissionless chains as bearer instruments — 30% withholding tax, full stop. Stack...

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