Throughout the past couple of years, we have seen how the novel idea of tokenization has gone through many different forms from initial coin offerings, security tokens to present-day DeFi tokens. The benefits and utilities from tokenizing assets have also iterated from a fundraising mechanism (ICO’s) to a method to unlock trapped value from traditional assets (Security Tokens) and to a hybrid automated fee/governance model (DeFi tokens).
Here at STP, we have innovated with different forms of tokenization through Micro Token Offerings (MTO) which distributed tokens based on various requirements whether it be active participation in the community or protocol, funding, engagement, or stake amount.
Today, we are announcing our new vision STP 2.0, a new iteration of the Standard Tokenization Protocol that facilitates the issuance and trading of synthetic assets that track assets on other blockchain platforms. STP 2.0 will give users access to multi-chain assets and new financial products on different blockchains without heavy over-collateralization or expensive bridge fees.
What’s New in STP 2.0?
The Standard Tokenization Protocol facilitates the issuance and trading of synthetic assets (ST-Assets) that track assets on other blockchain platforms. Additionally, users are able to construct and trade indices of tokens from other blockchains through these ST-Assets. A detailed breakdown of the synthetic tokenization process can be found here. Cross-chain tokenization will facilitate the value transfer between major blockchain platforms providing more liquidity, more products, more strategies, and even more opportunities in decentralized finance.
Users can issue an asset representative of an index that tracks the performance of a group of underlying assets across various blockchain platforms (i.e. ERC20, KCT, OEP-4, etc.). From using leverage, yield farming, or any other of the constantly growing number of tools, these indices can employ a wide range of tools for endless strategies that can interact with other decentralized protocols including AMMs and lending protocols. The STP platform will issue the initial multi-chain indices that users can utilize while eventually opening up the issuance process to token holders for high degrees of customization.
Building on Polkadot:
STP 2.0 will be built on Polkadot as it enables cross-chain capability, and the parachain infrastructure should allow for faster, cheaper transactions than the increasingly crowded Ethereum ecosystem. By using Moonbeam, contracts can be written in Solidity and deployed to the Moonbeam parachain, allowing STP to integrate with the Polkadot ecosystem while leveraging the work done in Solidity. We believe parachains will give STP a significant edge in the issuance and trading of synthetic assets as the bridges for Polkadot parachains to other chains that are under rapid development. This sets STP apart from other synthetic protocols like Mirror and Synthetix.
We anticipate that STP 2.0 will begin its rollout at the end of Q1 2021 and be fully functioning on Polkadot by Q3 2021. The initial assets for tokenization will begin with ERC20 and gradually expand to other chains. Stay tuned for details on the launch!
Anyone interested in learning more can visit us at https://stp.network/
If you’re an issuer interested in tokenizing your asset, please reach out to us at: firstname.lastname@example.org
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