The previous article explained why starting from first principles, I think on chain stocks are the first trend, while on chain equity is the second. Finally, I talked about the @ JarsyInc platform that I have discussed offline. This article continues, mainly discussing three things 1. Platform Security - In the comments section of the previous article, the most common concern among users is not how to use it, but whether the platform is secure? What if the platform runs away? So this matter is the most important 2. How to use the platform Why do I think this may be a 'current optimal solution' One by one, let's take a look at safety first One I guess friends who buy on chain stocks also have similar concerns at the beginning. For example, two months ago, a friend bought Ondo's Tesla and came over to ask me, 'Is Ondo platform reliable? Will it go bankrupt or run away?'? I don't think so. Ondo may fail commercially, but the stock assets on it have little to do with the success or failure of Ondo. Operations and asset holding are two separate entities, commonly known as the "dual layer structure". If Ondo fails, you can also redeem it, but it's a bit troublesome Jarsy also has the exact same design - registered in the United States, with a dual layer structure of C-Corp and LLC C-Corp mainly undertakes the functions of brand, technology, operation, and compliance coordination; LLC serves as the actual holder of underlying assets and equity, used to isolate operational risks and carry the equity assets corresponding to the tokens. The equity tokens issued on the Jarsy platform are all 1:1 equal amounts of underlying company shares as supporting mappings; The relevant shares are actually held and registered under Jarsy LLC, and are clearly distinguished from Jarsy C-Corp in terms of legal and financial aspects; So in extreme cases, even if Jarsy C-Corp enters bankruptcy or liquidation proceedings due to poor management, significant losses, or other reasons, the underlying shares corresponding to the Token still exist independently within the LLC structure. On the premise of complying with legal liquidation procedures, token holders can still dispose of or monetize underlying assets according to their proportion. As I mentioned before, following the traditional process may be a bit troublesome, but it is not so difficult to retrieve the money Here are all the documents of the shares held behind the tokens issued by Jarsy (Proof of Reserve). Interested Laotie can go to see them by themselves https://www. ((jarsy.com))/proof-of-reserve II How to use the platform The link above not only allows you to view the Proof of Reserve, but also the number of equity tokens and TVL issued for each project. For example, if you are a larger company like SpaceX, there are already three to four million TVL in the two phases combined. Other well-known companies like Anthropic also have TVL pools of several hundred thousand So for small funds, such as those who want to trade a few thousand U or one or two thousand Americapacity X, you can basically use Jarsy as a Uniswap and directly use it as a market price swap For medium-sized funds, such as those who want to buy a size of 50000 U or 100000 U, you can adjust the price at market price or up or down. Jarsy will help you buy slowly in a form similar to TWAP, which will take some time Essentially, Jarsy uses an XK=K AMM curve similar to Uniswap, but slightly more complex than this simple curve. It has made corresponding adaptations and optimizations for equity tokens, which have relatively large amounts but relatively low frequency So the question is, what if you are a big spender? For example, I know a friend around me who plans to buy a million dollar SpaceX, but the depth of this pool of three million dollars cannot meet his needs no matter what At this point, Jarsy offers another "zero slippage" option, equity pre-sale - Presale! Jarsy uses users' money to purchase brand new equity shares. For large transactions, not only is there no such thing as a slippage, but it may even be much more favorable than spot goods. Taking the popular Perplexity as an example, if a user sends money in, Jarsy will try to purchase the corresponding equity on Web2 within a time limit of three months. If the equity is not purchased after three months (after all, there must be a seller involved), a full refund will be issued, and the only cost paid by the user is the cost of the funds. And with the increase of users' willingness funds, the agency fees charged by the platform will gradually decrease from 5% to 1%, reminiscent of Pinduoduo's "if you're a brother, come and cut a knife" style Equity is a long-term investment, and three months is not too long for companies that are truly optimistic. Moreover, this type of purchasing agent has no slippage, only a 1-5% fee charged by the platform. For large investors who value investing, it is considered the best choice What I just said was buying, how do I sell it? Regardless of the size of the funds, when you receive equity tokens, you can sell them through AMM like Uniswap, with a sliding point referring to the buying mechanism above. But this is for short - and medium-term investors. For long-term value investing, it is entirely possible to wait until the company goes public and sells directly on Web2 exchanges such as NASDAQ, as that corresponds to an almost infinitely deep pool and ultra-low sliding points. For the "After IPO" sector, Jarsy sells your holdings directly through brokers on platforms such as NASDAQ. Users can receive the sold U directly and withdraw it. For example, Jarsy users can sell their holdings at the public stock price in the after IPO after purchasing Circle private equity tokens and unlocking them for listing. It is said that their purchase price was 25.25 at that time III The optimal solution for the current environment- Imagine that you are optimistic about Musk, optimistic about the future of humanity, and you want to buy equity in SpaceX. What are your options? 1. Web2 platform - Forge Global, EquityZen, Hiive, Linqto, etc., you can understand it as 10 times the trouble of Futu. First of all, it is best for you to be an accredited investor. Each time you buy or sell for more than $25000, you should also have a Bank of America account and KYC information... Even if you meet these requirements, the trading cycle for buying or selling equity is extremely long (requiring company ROFR approval and document signing, often ranging from a few weeks to several months), and the liquidity is also average (selling requires matching buyers). In other words, the experience is similar to that of an OTC platform 2. Web3 platform - The biggest competitor should be PreStock, I took a look at it. How to put it, PreStock is particularly similar to xStock (Tokens are issued in Solana, transactions are redirected to wallets, not on the platform, and there are few categories, so it seems that no Proof of Reserve has been found), while Jarsy is a bit like Ondo's whitelist (Tokens are actually issued in the EVM ecosystem, and can be directly traded on the platform, with many categories and Proof of Reserve). The difference in feelings between small and medium-sized funds should not be significant, while for large funds, there is basically only one way to go: Jarsy purchasing agents And buying is only half of it, selling is the more important thing. The Jarsy platform has a large number of retail investors due to its user friendliness. Token holders can flexibly sell their pre IPO positions in a fragmented manner, without having to rely on brokers to call and find new customers like those web2 platforms. The key is to find customers who can take up so much of your market share. 3. Web3 Perp - Currently, only Hyperliquid's HIP3 is doing these things. As mentioned in the previous article, both in terms of depth and transaction volume, the effect is average. The biggest weakness of this equity based Perp based on CLOB, apart from the needle prick risk similar to Monad/MegaETH, is actually that Perp requires a stable, continuously updated, and reliable source of spot data. And how do you think about setting the spot price for the equity of an unlisted company? How to update the oracle? How does Perp anchor this' elusive 'spot price through mechanisms such as Funding Rate? On the contrary, Jarsy may become bigger and stronger in the future, and after the trading volume increases, the platform AMM may potentially become an anchor for equity price discovery or spot trading Of course, the market is constantly evolving, and this optimal solution is within the current regulatory/technological/liquidity framework. The official listing of Nasdaq may be visible to the naked eye in the next two to three years. In a few years, will any company issue equity directly on the chain (not necessarily ETH or Solana, but possibly on the Nasdaq chain)? These are hard to say, but the possibility definitely exists, and there will definitely be a new round of evolution for the Pre IPO platform at that time The next wave of highly certain trends and the era of value discovery moving forward, isn't it time to get on board?! https://app. ((jarsy.com))/? invite_code=trxmdk