Article V - v0.3.0 Draft EOS.IO Constitution - No Owner or Fiduciary（第V条 - v0.3.0 EOS.IO章程草案 - 无所有者或受托人）
Thomas反对将EOS当作证券资产
Purpose（目的）
As previously discussed in the Design Principles of this Draft, the EOSIO Software creates a Governed Blockchain. It is self-governing and is not owned or controlled by any person or group of people, except the Members acting collectively. This Article states this thesis.
正如前面在本草案设计原则中讨论的那样，EOSIO软件创建了一个收管理的区块链。 它是自治的，并非由任何人或一群人拥有或控制，但集体成员行为除外。 本文阐述了这篇论文。
Text of Article（条款内容）
This EOS Blockchain has no owner, manager or fiduciary. It is governed exclusively under the terms of this Constitution.
这EOS区块链没有所有者，经理或受托人。 它完全根据本宪法的规定进行排他管理。
Discussion（讨论）
It's important that the EOS token not turn into a security. If the blockchain somehow acquires a fiduciary, i.e. if token holders implicitly come to reasonably expect that someone or some group will take care of their interests like a fiduciary would, this can lead to the token becoming a de facto security. To prevent this we declare that the chain has no owner (other than the Members collectively) and no fiduciaries.
很重要的是，EOS令牌不会成为证券。 如果区块链以某种方式获得受托人，比如令牌持有人暗中合理地期望某人或某个群体像受托人那样维护他们的利益，则这可能导致令牌成为事实上的证券。 为了防止这种情况，我们宣布该链没有所有人（除了成员集体）而且没有受托人。
Article VI - v0.3.0 Draft EOS.IO Constitution - 10% Ownership Cap（第VI条 - v0.3.0 EOS.IO章程草案 - 10％所有权上限）
Thomas多有权上限限制的说明
As discussed under Article V of this Draft Constitution, the EOSIO Software must not have a fiduciary. To prevent this, as well as to prevent whale control of the chain, the Constitution proposes capping ownership by any one "Member or Beneficial Interest" at a maximum of 10% of all issued tokens.
正如本宪法草案第五条所讨论的那样，EOSIO软件不得有受托人。为了防止这种情况发生，以及为了防止对链条的鲸鱼控制，“宪法”建议将任何一个“成员或实益权益”的所有权限制在所有已发行令牌的10％及以内。
Text of Article（条款内容）
No Member nor any Beneficial Interest shall own more than 10% of issued tokens.
任何成员或任何实益权益均不得拥有已发行代币的10％以上。
Discussion（讨论）
Several reasons exist to cap token ownership as a percent of the whole.
Token ownership above a certain size has historically been a stepping stone to abusive behavior that has harmed other blockchains.
Many governments and regulatory bodies have an ownership threshold, above which different and more exacting rules apply. The figure 10% is often used. The SEC requires "shareholders who own more than 10% of a class of the company's equity securities" to file as "insiders" just like a firm's directors and officers do.
Once a person becomes a large enough token holder, they can start to act like a fiduciary out of normal self-interest; this can lead to a legitimate utility token (i.e. a non-security) becoming an implicit security, through the behavior of a large token holder and the creation of expectations.
存在几个原因来将标记所有权限制为整体的某一百分比。
一直以来，令牌拥有量超过一定规模，从历史上来看都会为该区块链的发展带来伤害性的行为。
许多政府和监管机构都有一个所有权门槛，超过这个门槛，就会执行不同的或更严格的规则。10％这个数字经常被使用。美国证券交易委员会要求“拥有超过10％的公司股票证券类的股东”，就像公司的董事和高级职员那样，将其作为“insider”归档记录。
一旦一个人成为一个足够大的令牌持有者，他们可以开始像正常的自我利益一样充当受托人;这可以通过大型令牌持有者的行为和预期的创建而导致合法的效用令牌（即非安全性）成为潜在风险。
