> For the complete documentation index, see [llms.txt](https://docs.radao.org/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.radao.org/bookmark/external-links.md).
# External Links
Radao is being built in a fast-changing ecosystem of technical protocols, business models and regulations. This non-exhaustive bookmark brings together what seems to be important to know about investing in tokenized real-world assets.
| Url | What to learn |
| -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- |
| [France STO-friendly since LOI PACTE 2018 DEEP (“dispositif d’enregistrement électronique partagé”) allow shares to be digital](https://www.legifrance.gouv.fr/dossierlegislatif/JORFDOLE000037080861/?detailType=EXPOSE_MOTIFS\&detailId=) | Where magic comes from 1 share = 1 token in France |
| [EU’s strong regulatory framework MiCA (Markets in Crypto-Assets)](https://eur-lex.europa.eu/legal-content/FR/TXT/HTML/?uri=CELEX:52020PC0593\&from=EN) | Europe has set up a crypto regulation system that is ramping up until the end of 2024. No uncertainty for investors, the rules are clear! |
| [Finance décentralisée (DEFI), protocoles d'échange et gouvernance : vue d'ensemble, tendances observées et points de discussion réglementaires](https://www.amf-france.org/sites/institutionnel/files/private/2023-06/Papier%20de%20Discussion%20AMF%20sur%20la%20Finance%20D%C3%A9centralis%C3%A9e%20VF.pdf) | How the AMF, the French regulator for market (equivalent of SEC) sees DeFi today, the identification of risks and the first proposal for future regulation. The AMF is responsible for overseeing financial markets and investment firms.
(June 2023 - French)
|
| [Finance « décentralisée » ou « désintermédiée » : quelle réponse réglementaire ?](https://acpr.banque-france.fr/sites/default/files/medias/documents/20230403_finance_decentralisee_desintermediee_fr.pdf) | The ACPR, an independent administrative authority under the central bank, the Banque de France, supervises the banking and insurance sectors. Crypto exchanges linked to FIAT money are regulated financial institutions.
(April 2023 - French)
|
| [DeFi and MiCA: How much decentralisation is enough?](https://cms.law/en/int/publication/legal-experts-on-markets-in-crypto-assets-mica-regulation/defi-and-mica-how-much-decentralisation-is-enough) | "Only partially decentralised crypto services are subject to the MiCA regulation while fully decentralised services provided without intermediaries are excluded from its scope."
CMS is a is a leading advisor to financial institutions with 79 offices in more than 40 countries and 5,800+ lawyers worldwide.
|
| [Real World Assets: The Bridge Between TradFi and DeFi](https://www.binance.com/en/research/analysis/real-world-assets) | Real World Assets (“RWAs”) are assets that exist off-chain, but are tokenized and brought on-chain to be used as a source of yield within DeFi.
(Binance Research - Mac Naggar Mar 2nd, 2023)
|
| | |
| [Uniswap & Ethereum Values](https://blog.uniswap.org/uniswap-history#ethereum-values) | Radao fully embraces these values, which Uniswap emphasizes
- It was censorship resistant. No one could stop it.
- It was decentralized. No one controlled it.
- It was permissionless. Anyone could use it.
- It was secure. Anyone could verify execution.
+ "The protocol is also immutable, in other words not upgradeable. No party is able to pause the contracts, reverse trade execution, or otherwise change the behavior of the protocol in any way"
|
| [Morpho](https://docs.morpho.org/start-here/homepage) | A good example of the new generation of DeFi tools (also from France, cocorico!). Creating a second layer (in this case, Aave & Compound) enables the creation of new services for investors. Radao is naturally part of this approach, as we are building a framework for security tokens based on Uniswap's work. |
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