XY Labs sold two different intangible products around the same time in 2018, and sometimes our customers aren't clear about the difference. We'd like to help clear things up so that you understand your financial wellbeing and how it relates to XY Labs and XYO.
Let's define the difference.
XYO Tokens: XYO Tokens are an ERC-20 utility token, which is based on the Ethereum cryptocurrency. (The second most popular cryptocurrency after Bitcoin.) Ethereum tokens like XYO are designed to be used in various blockchain operations – meaning they're more than just digital currency, they're designed to do something. In the case of XYO tokens, they're designed to pay for queries on XYO Network.
XY Labs Equity: XY equity is shares of XY Labs (formerly XY - The Findables Company and XY - The Persistent Company). The shares are Reg A+ and are not on an exchange and don't have a public price. They can be privately sold for prices set by the buyer and seller. You can read more about your shares here.
XYO is not a company and does not have shares or shareholders: Another important thing to understand about your shares is that they are not shares of XYO. XYO was never an independent company – it's a division of XY Labs.
While this was outlined during the 2018 sales, the high profile and promotion of XYO during this time has continued to generate misunderstanding. A lot of people believe that they have shares in XYO. But there is no such thing and never was – by law, there can't be. There is no one who has equity in XYO.
If you check the documentation for your shares, you'll find that they say that your shares are either of XY - The Findables Company or XY - The Persistent Company, which were the old names for XY Labs, and in fact this was a condition that everyone had to accept before their equity purchases.
If you have any additional questions or concerns, please let us know by clicking Submit a Request at the top of the page.
Comments
0 comments
Article is closed for comments.