Claiming to claim that your token is backed by something is one thing, but actually backing it up means spending a lot of money in process
It's dumb! And it just sounds like the next scheme in the line of altcoin>ICO>Fork>defi/tokens. Why would anyone give up their own Bitcoin to buy a token created out of thin air, only because they
promise to keep the Bitcoin? There used to be a time when dollars were backed by gold. Until someone decided to remove that promise.
Why would anyone want to hodl an IOU for Bitcoin?
Asking the real questions here!
All altcoins, ICOs, Forkcoins and now this crap are only created to make the creator rich. Don't surrender your Bitcoins, if you don't own the keys, you don't own them. Period.
You call it tokenization.
I'm going to call it forgery. Or counterfeiting. Or just an exit scam waiting to happen.