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Superstate, the tokenization startup, co-founder of Defi OG Robert Leshner, announced a new stock tokenization product on Solana and Ethereum this morning.
With the name “Opening Bell”, the Platform enables companies to specify the shares of the shares – a remarkable innovation for Tokenized public shares. The Solana-oriented holding company Sol strategies became the first participant of the platform.
Many in Solana quickly celebrated the news, because co-founder Anatoly Yakovenko, co-founder of Solana, would compare the network on the blockchain with Nasdaq. Nowadays, Yakovenko wrote a rare blog post alongside Anza headcurrent Max Resnick in which it is explained how Solana’s path drives to creating a decentralized Nasdaq through the implementation of several simultaneous leaders, where different validators can simultaneously create blocks.
The concept of Tokenized shares is not new: I could give you a sign in exchange for your Tesla shares, and there it is. In addition to potential red flags of regulations, the problem with things like this is that your token would act in a less liquid environment than the original stock. If you try to exchange it on Dexs, you can get stuck with musty prices compared to what is available at trade fairs.
What seems to be distinguished superstate is the sec-registered transfer intermediary This carries out the issue and repayment of shares or dividends on behalf of companies. Onchain Equity published In this way the world can move more efficiently around the world and perhaps even be used as collateral in Defi. Users must go through KYC checks before they have access to shares when opening Bell.
Assist point Another interesting use case: “Up-listing”, where non-public companies can spend shares on a crypto-native market before they try to reach a list on the Nasdaq or Nyse. In a telegram message, Leshner said that Superstate cannot make it easier for companies to become public, but he believes that the “open” process will become popular.
To see why this can be the case, consider a hypothetical: SOL strategies is currently waiting for approval to act on the Nasdaq. If the shares increase a lot of interest in opening Bell, that could perhaps be insured in approving and investment bankers more enthusiastically about the endorsement of the American SOL strategies shares.
‘[We’re] Proud to be the first public company that works hard to take this step, “said Leah Wald, CEO of Sol Strategies.” Tokenizing shares is more than a technology -upgrade -it is about being in accordance with the next generation of market infrastructure and expectations of investors. “
Credit : cryptonews.net
