The cryptocurrency exchange Sonata.ai, currently in the development, started a public sale of its security token. While the team of Sonata.ai is meeting private investors, the public sale is in a full swing. The official sale started on 1 March 2019.
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STOs lead the way
There is not much left of the previous attempts of ICOs to get an attention of investors. As the regulations gradually will clarify the potential legal issues of the new decentralised economy, we are witnessing new opportunities in the crypto world. We can see a growing interest of what were previously hesitant users. Others, who have feared the grey zone are now at least considering the option to jump on-board. Many have predicted an end for ICOs already during 2017. But by the end of 2018 the industry was smarter, more proficient and ICOs stayed with us. The year 2019 is looking to be very optimistic as many capable projects are rearing to go.
Although ICOs were (until quite recently) fully in the hands of utility tokens, this year will surely belong to security token offerings. The excessive abundance of utility tokens represents an idea contradictory to what we see in the real world. Most people want to use cryptocurrency as ordinary money, without the need to exchange between hundreds of coins. They want to take advantage of the security and versatility which crypto can provide.
Securities to rock this year
Another type of token offered by initial coin offerings are security tokens. STOs (security token offerings) can be embraced by investors who understand that not every monetary interaction should have its proprietary token. There is just no natural demand for “sexcoin”, “potcoin” or “breadcoin”. These coins are used just for mere speculations, although they are promoted as a digital counterpart to money.
Security tokens are closer to stock. The stock market is real, it is an important part of the global economy and has existed in some form since almost the 15th century. An easy way to recognise a security token from any other type (e.g. utility or equity token) is to take the Howey test. The security tokens can establish an investment contract with contributors, who on the other side can anticipate future benefits in the form of dividends. Dividends can be represented as a revenue share or as a price appreciation.
Minefield worth venturing to
These days, it is challenging to navigate the legal minefield of security tokens. Even acquiring a proper licence to be able to sell security tokens on crypto exchange takes a long time in months. The prices for legal services and licences are tremendous. Although countries like Malta, Gibraltar and Switzerland are building legislative frameworks for new companies to operate, there is still a long way from achieving a smooth boarding process.
“We got the cold shoulder in Czech Republic. There is no official procedure or licence that would allow us to offer our tokens there. Our lawyers suggested to try it out in other crypto-friendly countries and that seems to be a valid way to do it. Now it’s just a matter of time.”, says the main investor and CEO of Sonata.ai, Eduard Sedlmajer. The company is pushing forward to acquire all necessary legalities to provide trading of STOs on its platform.
Sonata.ai to take advantage of STO
Sonata.ai is a crypto exchange created in co-operation with brokers and Forex analytics. The platform is built on a security-first approach and offers advanced AI features to improve overall user-experience. Sonata.ai’s own security token SONT will reward it’s owners with 80 % from all collected fees. These rewards will be sent to registered supporters once they pass the KYC procedure.
In addition, Sonata.ai is currently working on its way to become full STO trading framework – an exchange market for security tokens. This, in combination with the revenue model, makes it a perfect example of an STO with great prospects for the future.
Platform that delivers
Sonata.ai is being co-created together with active brokers. The designers aim to create a straight-forward interface with an intuitive visuals and functional design. The exchange also offers margin trading for its customers, a feature much expected by token owners. Margin trading is a way to increase a traders’ profit in the case that a trading operation is successful. The team of Sonata.ai is perfecting an AI-based system, that will automatically pair lenders and borrowers and close the trade before the lender gets himself to the red numbers
Sonata.ai will offer:
- multi-level security,
- cold storage – hardware wallets,
- high performance,
- margin trading functionality and protection from negative trade,
- social platform for seamless user interaction,
- AI-based future price prediction,
- AI-based trading assistant for beginners,
- support for custom bots via advanced API,
- security token listing.
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