wrapped stocks = exposure
canonical onchain stocks = ownership

When a company mints its real equity onchain, everything changes:
– instant settlement
– transparent cap table
– onchain dividends
– composable finance

that is the endgame.

@dwr.eth I think this is what I was getting at re: synthetic stonks being weak tech

friendly neighborhood shitcaster // working on @pinetree

> without taking too much counterparty risk

I don't think this has ever been a big problem in crypto. :)

Hence easier rehypothecation being a good thing?

Lot of weird fluid composable shit you can't do with synthetics without taking too much counterparty risk

I don't think most people care about ownership -- just the upside.