Why is Sia doing a TSO (Tokenized Securities Offering)?
Siafunds do not have any utility. Their value is derived from the fact that they entitle their holders to a fixed portion of the revenue generated by the Sia network. As a result, we intent to treat the Siafunds as securities under U.S. federal and state securities laws. We have structured the sale of Siafunds in this Tokenized Security Offering to comply with U.S. federal and state securities laws. Specifically, we plan to sell Siafunds to “accredited investors” under an exemption from registration provided by Regulation D of the Securities Act of 1933, as amended.