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STP Network

STP Network (STPT) is a decentralized platform for digital asset issuance powered by the STP token which issues token offerings in a regulatory-compliant manner in a large number of jurisdictions around the globe[1][2].

Overview


STPT protocol allows the integration of international regulations to enable compliant issuance of tokenized assets and cross-jurisdictional transfers of ownership. It also allows for issuer-specific parameters such as ownership concentration, holding periods, and voting[3][4].

By issuing a permissioned ERC20 token (STPT) on the Ethereum blockchain, Standard Tokenization Protocol ensures that:

  1. regulatory and issuer-specific compliance requirements included in the smart contract are met at the token level, and
  2. changes in the regulatory landscape can be captured and integrated. Standard Tokenization Protocol standard enables the tokenization of any type of asset in a globally compliant manner.

STPT Standard


STP Network’s STP-Standard is an open-source standard that defines how ownership of tokenized assets are generated, issued, sent, and received while complying with all necessary regulations.

Everything built on top of the STP-Standard will use the protocol’s on-chain Compliance Validator to verify compliance with relevant regulations (in the below example this includes KYC, AML, Accreditation, etc.) as well as any issuer-specific requirements (i.e. ownership concentration, holding periods, voting).

The Validator Committee will serve an advisory function to ensure the Compliance Validator is enforcing the most up-to-date legislation at all times. STP Network allows assets the freedom to move across jurisdictions and platforms in a way that is fully compliant across jurisdictions and platforms.

STP 2.0


STP 2.0 is a protocol for synthetic tokenization on polkadot.

  • Cross-Chain Tokenization: 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.

Cross-chain tokenization facilitates the value transfer between major blockchain platforms providing more liquidity, more products, more strategies, and even more opportunities in decentralized finance.

  • Multi-Chain Index: 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.).

The STP platform 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 is built on Polkadot as it enables cross-chain capability, and the para chain infrastructure which allows faster, cheaper transactions than the increasingly crowded Ethereum ecosystem.

STPT Integration


STP Integrates with Curve Finance (an exchange liquidity pool built on Ethereum, similar to Uniswap, designed for extremely efficient stablecoin trading) to Launch USTP Metapool. STP Protocol integration of its stablecoin, "USTP", with the Curve Finance platform to provide a USTP/USDT liquidity pool. The USTP pool is one of Curve’s newly launched "metapools" which allow one token to trade with another underlying base pool.

The metapool ensure sufficient liquidity for USTP, an important step for its usage in the STP ecosystem. STP Protocol also continues to integrate with more leading DeFi protocols like Curve to increase their activity in decentralized finance. The metapool allows USTP to be pooled with USDT, USDC, and DAI. A liquidity provider can get exposure to all stable coins by depositing one or several of the coins in the pool[5].

  • About USTP

USTP is a stablecoin designed for usage in the STP Ecosystem and STP DAO. It is a mechanism for decentralized governance in which STPT holders will help dictate the direction of important protocol decisions, including USTP and the respective DeFi platforms that utilize USTP. USTP allow users to earn yields, leverage lucrative DeFi strategies, and transact across multiple platforms within (i.e., Blockzone) and outside (i.e., ChickenSwap) their ecosystem. USTP is over 100% backed by STPT to reduce the risk of liquidation during price volatility.

STP & Piction Network (PXL)


Standard Tokenization Protocol has acquired part of the top Korean digital content platform "Piction Network" in order to expand into the NFT (Non-Fungible Token) sector. Piction Network is a peer to peer digital content platform that facilitates the issuance and trading of digital cartoons, dramas, movie, games, and music.

According to Mike Chen, the CEO of Standard Tokenization Protocol, indicated

“We are very excited to work with Piction Network and see lots of future opportunities for Piction in the NFT space as a subsidiary of Kakao Entertainment”.

With Piction Network, STP is looking to pave the way for new business. Piction Network is yet another platform added into the STP Ecosystem that continues to broaden its verticals. NFT’s are an important sector and use case for tokenization and the acquisition is a key component towards the development of the STP Ecosystem.

STP Token


STP Network’s platform token (STPT) will serve as an incentive structure that aligns all participants and strengthens the overall network. The token will be necessary for the proper functioning of the network and have the following utility:

  • Issuance Fee

Issuers can use STP Network to fractionalize legal ownership of their assets or features of their assets including provisioned resources, profits, etc. by creating STP-Standard tokens corresponding to a certain percentage of ownership. These tokens built on top of the STP Network STP-Standard will conform to the global regulatory framework embedded in the Compliance Validator, thus removing the burden of compliance from the issuer

  • Compliance Validator Gas

In order for the Compliance Validator to execute verification that both sides of a transaction (sender and receiver) comply with all necessary jurisdictional and issuer-specific requirements, a certain amount of Gas is needed. Gas is a small amount of an STPT token that is used by the smart contract to incentivize validators to prove that a transaction meets the CV requirements.

  • Staking

In addition to the prior two use cases of the STPT token, the network also enables a Proof-of-stake mechanism that allows token holders to stake and earn STPT. Specifically, token holders stake an amount of STPT proportional to their confidence that all Compliance Validator requirements are met, and they either earn Compliance Validator Gas tokens in return as a reward for honest behavior or else lose their stake to reward honest stakers

  • Governance

Token holders who desire to stake their STPT tokens will do so by delegating their stake to a token-elected Validator Committee. The validators who comprise this Committee will earn STPT for submitting publicly auditable proof that the Compliance Validator matches the laws of their jurisdiction or is otherwise functioning properly[6].

STP Ecosystem


To better understand the unique capability of STP to add value in this space, it is important to note the differences between this new decentralized asset class and traditional finance. In a decentralized ecosystem, network effects are fundamental to any project’s success.

In the early stages, community engagement is achieved by injecting traffic from traffic owners such as exchanges, wallets, investment banking firms, and similar retail-focused platforms. The STP ecosystem will develop to facilitate this through its protocol and existing network of key players in this environment.

STP Network utilizes its STP token to develop important use cases through its unique position in the blockchain ecosystem. The decentralized smart contract platform utilizes the native STP token to ensure that compliance considerations (both jurisdictional and issuer-specific) are met at the token level.

The STP token facilitates the incentive alignment of network participants by rewarding honest actors and stakers with STP tokens for their respective roles in maintaining the integrity and performance of the STP network. STP helps set the standard for a new method of fundraising and issuance that is more transparent, accessible, compliant, and efficient in today’s digital world

Team


  • Mike Chen - Chief Executive Officer
  • Sinhae Lee - Chief Operating Officer
  • Richard Lee - Co-Founder
  • Nathan Montone: Co-Founder

Advisors

  • Vincent Zhou: Founding Partner at FBG Capital
  • George Cao: CEO and Founder at BitMax Strategic

Partnerships


STP, RAI Finance, and Cobak have joined together to form the Korean Polkadot Alliance (KPA), a non-profit consortium of industry-leading projects and teams in Korea that are building on Polkadot. Top Asia crypto funds including NGC Ventures and GBIC are also initial founding members. The KPA’s mission is to facilitate and accelerate the development of the Polkadot ecosystem in Korea. Others are;

  • GBIC
  • FBG Capital
  • Block72
  • BitMax
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STP Network

Commit Info

Edited By

Edited On

August 10, 2022

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