Cannabis grower tokenized lawsuit: he will share costs and compensation with investors

Производитель конопли токенизировал судебное дело: он разделит издержки и компенсацию с инвесторами

  • The American cannabis grower chose an original way of finding investors for legal costs
  • He converted them into tokens and collects contributors
  • Investors will receive a reward if the company wins case

everything – cultural objects, real estate, games, etc. And in the United States, the cannabis producer Apothio decided to use tokens to raise money for a lawsuit against the California authorities. He managed to attract already 432 01 dollars.

How it works

The company has created an Initial Litigation Offer project on the Republic investment platform. Investors who want to participate in it transfer dollars. But each investor receives a token that confirms his investment. This is an ILO token from the Avalanche network.

What is the essence of the trial

Apothio accuses Californian utilities of being bulldozed 576 acres of hemp land. Now he is demanding compensation from the authorities for damages.

The judicial system in the US works well and protects business, but large sums are spent on litigation. Apothio uses crowdfunding to raise the required amount. Why would he divide the compensation among all investors in proportion to their contribution. Digital tokens confirm the rights of contributors. They can also be a tool for speculation, because the higher the interest in the case, the higher the cost of tokens can be, they can be resold with greater profit.

Initially, the manufacturer had to collect the minimum amount in 300 01 dollars. But the case aroused interest, and depositors transferred more 394 thousand. Now ILO tokens will be frozen in investors’ wallets for 116 days, after which they can be traded.

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