When JPB Liberty started preparing the Crypto Class Action against Facebook & Google over 3 years ago, one of the innovations we wanted to explore was how tokenisation could be applied to the world of litigation funding.
Traditionally litigation funding is done by large institutional investors with a portfolio approach and a long timescale - because class actions take 5-10 years to get a payout and there is a risk of total loss of investment (5-10% of funded class actions fail completely based on published data).
I thought that tokenisation could allow smaller investors looking for high risk/return plays to become involved and pick winners as well as allowing early investors to be able to partly trade out and new investors enter as the case progressed and success became more (or less) likely.
So as soon as @aggroed created Steem Hive-Engine JPB Liberty created the "Sue Facebook" SUFB token so people could invest in and support the Crypto Class Action and get a share of the winnings.
We have used this SUFB token to raise money for the class action from investors and it has been available for purchase and trading on Hive-Engine for years.
https://hive-engine.com/?p=market&t=SUFB
However, trading in these early stages of the case was thin and liquidity a problem.
DeFi provides a solution to these issues but I wasn't interested in the fees and risk associated with Ethereum based DeFi.
Luckily the people behind @Splinterlands created a DeFi platform on Hive itself - Diesel Pools.
I had been thinking about creating a SUFB pool for a while but the new SPS Airdrop gave things new impetus.
DEC staked in approved liquidity pools earns twice the amount of SPS tokens in the airdrop so there is a strong incentive to stake your DEC.
Also Splinterlands players and card owners are earning DEC all the time from rewards and renting - so there is an active market.
A lot of Splinterlands players have made A LOT of money from the SPS airdrop, card rentals and the massive increase in card prices so we thought some might like to diversify into a class action that stands to transfer billions from Web 2.0 into Web 3.0.
You can read about the progress of the Crypto Class Action itself here
JPB Liberty and the Crypto Class action have a long and profitable association with Splinterlands and its team.
- There is a Crypto Class Action Knights Guild
- JPB Liberty owns substantial Splinterlands assets having invested in Beta Packs in order to get some investor funds out of PayPal and into crypto without exorbitant fees.
- many Splinterlands players, team and investors signed up for the class action
- we even ran tournaments for a while.
So now JPB Liberty and the SUFB token is tradable on an always liquid DeFi platform: The DEC:SUFB pool.
JPB Liberty and @apshamilton have provided over $3000 of initial liquidity and we encourage others, especially those already holding SUFB & DEC to also provide liquidity.
If you are already staking DEC on another pool you can now use your SUFB tokens to match your DEC and free up your HIVE or other matched tokens for earning in other ways.
[UPDATE: @yabapmatt has confirmed that the DEC:SUFB pool will be included for SPS airdrop purposes soon.]
It provides a use case for the SUFB token while you are HODLing them awaiting for the big payday down the road.
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