Whether or not investors are able to trade or transfer their Equity Tokens depends on the sole discretion of the company that issues the tokens. Investors will be informed prior to investing in a specific ETO if the equity tokens are transferable immediately after the ETO (this can also be changed later at the company's discretion). In order to acquire Equity Tokens on a secondary market, new investors (i.e., buyers) will be required to register on the secondary market exchange and undergo an identity verification process (KYC) on that platform. We are working closely with partners to enable the trading of equity tokens issued during ETOs.