With the problem arose that majority of Special Purpose Acquisition Company (SPAC) shares are primarily owned by corporate leaders and private equity firms, while individual investors obtain the smallest available shares in which to invest.
Concerns raised about traditional SPAC by the US SEC, states that:
“Differing economic interests. SPAC sponsors generally acquire equity in the SPAC at more favorable terms than investors in the IPO or subsequent investors on the open market. As a result, the sponsors will benefit more than investors from the SPAC's completion of a business combination and may have an incentive to complete a transaction on terms that may be less favorable to you.” Source: https://www.sec.gov
TrueSPAC tokens were created as the world's 1st True Special Purpose Agreement Contract (TrueSPAC), with Staking Rewards & Liquidity Pools to empower consumers and investors, affording them greater opportunities, and greater consumer protection when compared to the traditional SPAC.
You can think of TrueSPAC STO token (iSPAC) as Blank Cryptocurrency Check for high yield Securities Token Offering (STO) for investors providing greater investor protection along with greater investor incentives powered and enhanced by Blockchain technology, while the TrueSPAC Utilities token (TSPAC) is used for any agreement between parties seeking a token to represent a contractual non securities business arrangement or agreement, that may or may not involve Liquidity pools, while the second TrueSPAC Utilities token, as semi stable payments token (SPACp) are used for fees, governance and LP rewards.
TrueSPAC has tokens designed for Precious Metals & Gems, along with Green Energy Mining & Mineral Utilities tokens known as TrueSPAC Gold (tGLD), TrueSPAC Diamond (tDMD), and TrueSPAC Mining (tMNG) . TrueSPAC tokens used within the mining industry are price hedge forward contract tokens, in addition to the mining and mineral token also as a Carbon Credit token. Price forward contract or price hedge tokens for precious metals, gems and minerals are also ERC20 tokens .
Tawfiki Finance LLC, signed an agreement with Soledad Mining Inc., in respect to Gold mining operations in Guyana, which would see TrueSPAC Investment (iSPAC) Securities token conduct an Securities Token Offering (STO), for expand existing Gold mining operations in Guyana.