Holy sh*tโฆ this could get insanely wild
Robinhoodโs Stock Tokens (+ other legitimate issuers) are not shares; theyโre debt securities issued by Robinhood Assets (Jersey) Limited. Holders get the economic exposure, but no direct shareholder voteโฆ this is a well known fact
BUT, the public tokens are backed by real shares held through the US custody stackโฆ those shares still carry voting power
There is no mechanism for tokenholders to direct those votes (yet). But Robinhood could theoretically build one:
Onchain vote โ Jersey issuer aggregates the result โ custodian casts the underlying proxy votes
If that share block became large enough, the community could support a director nominee and attempt to win a board seatโฆ
@vladtenev (or a nominated committee/ directr) could ACTUALLY enact โBoard Sitโ
The tokens would never vote directly. They would coordinate the entity controlling the โrealโ votes
This is going to cause all kinds of chaos as you could theoretically have outside interests directing the strategy of US corporationsโฆ
Supposedly this is the case entities with heavy sovereign interest could become prime targets; a potential financial opportunity emerges to get a list of these national Crown Jewels that are low(ish) caps and bid early
We are so early to where this is headingโฆ Board Sit(s) gonna be a movie