STP Network (Standard Tokenization Protocol) has raised $750K in less than one second on June 11, reported the official post. Asset owners apply Standard Tokenization Protocols to start, construct and complete the tokenization and syndication of their new reward.
The STP Network carried an IEO on the famous Bittrex International exchange which traded out in less than a second. The primary atonement of 75 million STPT tokens signifies a record as the quickest initial exchange offering to date and indicates high interest.
About STP Network
Standard Tokenization Protocol is a decentralized, open source model to tokenize and circulate any asset as a security token offering. An STO is comparable to an ICO in which atonement is delivered by a company to the people, in which customers obtain crypto tokens mounted on a blockchain, but the ICOs and STOs do not bestow common identities beyond that. ICOs are the exchange of coins, profits or even currencies, STOs are the trade of securities.
In other words, Security Tokens are in reality, cryptographic tokens that can compensate the buyer returns, authorize them to a percentage of earnings, give them credit, or, they can be applied to reinvest into other Security Tokens. The main distinction from ICO purchases it that people get real shares in the company that they invest in.
STP is striving to join the asset tokenization business which is now crowded with important members such as Securitize, Tokeny, Polymath, Swarm fund and more. The STP token can be staked in joining to being obtained as fees and utilized for transaction gas to improve agreement validators, a characteristic not currently discovered in tokens of most other members.
The official blog further stated that
The token sale was conducted with Bitcoin, requiring those who contributed to send BTC totaling between $10 and $2,500 USD, raising approximately $750,000, or 3.75% of the overall token supply. These funds will be used for further protocol development and the creation of a mobile app for retail users.
As mentioned earlier, STP Network is a decentralized platform for digital asset issuance backed by the STP token, a new smart contract etiquette structure for docile atonement. By circulating a permissioned token (STPT) on the Ethereum blockchain, STP Network guarantees that compliance problems have adhered at the token level through each STP token’s adherence to the Compliance Validator restrictions. STP Network allows the transfer of digital assets in a globally docile style.
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