Since so many MSX friends want to know, I will talk about it.

First: The main reason Xstocks cannot obtain shares of Space X is that Xstocks is regulated, including by the SEC, and cannot commit fraud. This means that if Xstocks issues 1 million Space X tokens, it must correspond to 1 million shares of Space X stock. If there is fraud, and someone catches it, it’s not something you can play around with in the United States.

Therefore, even if Xstocks has to bear the dissatisfaction of exchanges such as Binance, Bybit, and Bitget, it cannot give out more shares because they really cannot be provided.

So can Xstocks buy by itself and then give to these exchanges? The answer is yes, Xstocks can legally purchase by itself and then distribute to others. This is fine, but why doesn't Xstocks do this?

Trust me, Xstocks has definitely already done this, but what can be bought on the secondary market is too far from the gap with the exchanges, and if they buy again, the price will be higher. They might not only not make money but also potentially lose money, especially if they are selling shares that can be unlocked on the first day.

Second: I am willing to believe that MSX really has shares of Space X, which MSX bought itself on the secondary market and then distributed to everyone, but this is not an IPO, just shares bought on the secondary market.

However, compared to Xstocks, MSX has neither disclosed third-party holding certificates nor disclosed exactly who they bought from or what quality of stock they purchased. I remember it was initially referred to as SPV mirror, which is really hard to say anything about. I have done a detailed analysis of SPV and SPV mirror.

Third: I am still willing to believe that MSX fully purchased and fully provided to users, but since MSX's tokens are not minted by Republic, they must be minted by themselves. Minting by themselves means it is their own liquidity pool. Do you understand what that means?

This means that if all of Xstocks’ targets can share a liquidity pool and can be transferred among different exchanges, because the underlying assets are the same, so regardless of liquidity or tradeability, they approach compliant stocks.

But if MSX is self-minted, then not to mention compliance issues, if they issued 100 times more to you, you have no way to verify, because your Space X tokens can only flow within MSX and cannot be traded or share liquidity with any other Space X tokens.

So essentially, MSX's Space X tokens are isolated islands. I will make a hypothesis, just a hypothesis: MSX could completely avoid buying any Space X stock because they really don't need to. At that time, as long as they establish a liquidity pool of $500,000 or $1,000,000, it would be enough, because you cannot verify if what you bought is real. As long as it can be sold, the goal is achieved.

Of course, this is just my hypothesis, not something I want to believe; the fact is that MSX's Space X token is independent of the current mainstream market, which is an undeniable fact. Although Xstocks cannot deliver either, at least they have done audits, which will be submitted to the SEC.

Moreover, clearly, Xstocks has KYC restrictions, but MSX can be said to be practically non-existent. These reasons combined explain why Xstocks cannot obtain quotas, but MSX might have quotas, because one must report and undergo audits, while the other simply needs to issue tokens and build liquidity.

It's that simple.

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