Bankless IPOs Equity Shares on Canton Network
Bankless founders Ryan Sean Adams and David Hoffman announced Wednesday that it will be taking community ownership of the company to the next level, via an onchain IPO.
The crypto media company will be issuing equity shares exclusively on the Canton Network, leveraging Canton’s recently announced Initial Permissioned Offering framework. Bankless is seeking to sell 230,000 tokenized equity shares at $300 each, pending final regulatory approval.
With Canton Network's unique architecture, crypto community members will be able to purchase real onchain $BNKL shares in Bankless’ private subnet after completing short onboarding materials and signing onto the network's Canton Foundation Mandate.
"The CF Mandate ensures that each and every one of Canton’s users deriving value on the network also pledges to share the moral fiber of its early partners, which include HSBC, JPMorgan, and Goldman Sachs," said Bankless co-owner Ryan Sean Adams.
Bankless is not the first media company to go public, but it is the first to do so leveraging the new digital security carveouts pioneered under the latest administration. In strict compliance with the SEC’s latest rules, Bankless will be appointing the President's granddaughter Kai Trump as the company’s new chairperson.
As one of the few crypto-native entities to openly embrace Canton, Bankless has been chosen to join the likes of Visa in becoming a Super Validator on the network, which will allow Bankless to permissionlessly shape the network via protocol changes.
"Canton Network embodies the corpopunk values we have always preached at Bankless," Hoffman said. "Becoming a Super Validator gives us the tools to mercilessly promote value alignment at scale."
Bankless joins a prestigious list of founding Canton partners who have shown a long commitment to keeping transactions hidden from public view including banking institutions favored by Jeffrey Epstein, the Sinaloa Cartel, and ISIS.
** Earlier announced plans to issue equity shares on the Ethereum blockchain were torpedoed after Bankless co-owner David Hoffman failed to reach a settlement with Vitalik Buterin and the Remilio Corporation over his alleged defamatory statements against Milady holders.