SEC safe harbor exempting private securities offerings from full registration. Rule 506(c) allows unlimited accredited investors with verification. Commonly used for Solana security token issuances with on-chain transfer restrictions via Token-2022.
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SEC safe harbor exempting private securities offerings from full registration. Rule 506(c) allows unlimited accredited investors with verification. Commonly used for Solana security token issuances with on-chain transfer restrictions via Token-2022.
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Think of it as a market mechanic used to price, route, or move capital through liquidity apps.
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AMMs, routing, liquidity, lending, and trading infrastructure.
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Regulation D (Reg D) (reg-d) Category: DeFi Definition: SEC safe harbor exempting private securities offerings from full registration. Rule 506(c) allows unlimited accredited investors with verification. Commonly used for Solana security token issuances with on-chain transfer restrictions via Token-2022. Aliases: Regulation D Related: Security Token, Accredited Investor, Regulation S (Reg S), Transfer Restrictions
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Blockchain token representing a regulated financial security (equity, debt, fund share) subject to securities law. Requires KYC/AML, transfer restrictions, and regulatory reporting. On Solana, implemented with Token-2022's transfer hook and default account state extensions.
SEC regulatory category: individuals with $1M+ net worth or $200K+ annual income permitted to participate in private securities offerings. Most tokenized security offerings on Solana restrict participation to accredited investors, requiring KYC and wallet whitelisting.
SEC safe harbor exempting securities offered entirely outside the US to non-US persons. Ondo's USDY available globally under Reg S with on-chain transfer restrictions preventing US transfers. Combined with Reg D to cover domestic + international.
Legal and technical constraints limiting who can hold a regulated token, enforced on every transfer. Prohibit transfers to non-KYC'd, sanctioned, or non-eligible addresses. On Solana, implemented via Token-2022's transfer hook executing compliance checks per transfer.
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SEC safe harbor exempting securities offered entirely outside the US to non-US persons. Ondo's USDY available globally under Reg S with on-chain transfer restrictions preventing US transfers. Combined with Reg D to cover domestic + international.
Glossary entries become useful when they are connected. These links are the shortest path to adjacent ideas.
Blockchain token representing a regulated financial security (equity, debt, fund share) subject to securities law. Requires KYC/AML, transfer restrictions, and regulatory reporting. On Solana, implemented with Token-2022's transfer hook and default account state extensions.
SEC regulatory category: individuals with $1M+ net worth or $200K+ annual income permitted to participate in private securities offerings. Most tokenized security offerings on Solana restrict participation to accredited investors, requiring KYC and wallet whitelisting.
SEC safe harbor exempting securities offered entirely outside the US to non-US persons. Ondo's USDY available globally under Reg S with on-chain transfer restrictions preventing US transfers. Combined with Reg D to cover domestic + international.
Legal and technical constraints limiting who can hold a regulated token, enforced on every transfer. Prohibit transfers to non-KYC'd, sanctioned, or non-eligible addresses. On Solana, implemented via Token-2022's transfer hook executing compliance checks per transfer.
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A protocol that enables token swaps using algorithmic pricing against pooled liquidity instead of matching individual buyers and sellers. AMMs use mathematical formulas (typically constant product x*y=k) to determine prices based on the ratio of tokens in a liquidity pool. On Solana, major AMMs include Raydium, Orca, and Meteora.
An AMM design where liquidity providers concentrate their capital within specific price ranges instead of across the full 0-to-infinity range. CLMMs dramatically improve capital efficiency—LPs earn more fees per dollar deposited within their active range. If the price moves outside the range, the position becomes inactive. Orca Whirlpools and Raydium CLMM are leading implementations on Solana.
A smart-contract-held reserve of two or more tokens that enables trading via an AMM. Users deposit token pairs in specified ratios to become liquidity providers and earn trading fees. Pools are identified by their token pair and fee tier. Pool depth (total value locked) determines price impact for trades.
A token issued to liquidity providers representing their proportional share of a pool's reserves and accrued fees. LP tokens can be burned to withdraw the underlying assets. The value of LP tokens changes as the pool's token ratios shift and fees accumulate. LP tokens are often stakeable in yield farming programs for additional rewards.