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Maltese real estate company BWRE will launch their own token on the Dusk Network, the first STO held on the platform. The offering will be done with the help of iFinex, the owner and operator of the Bitfinex and Ethfinex exchanges.
The Dusk Network is trying to position itself as the “Ethereum for security token offerings” and they are now planning on holding the first STO on their platform in 2019. It has been announced that Maltese real estate firm BWRE will tokenize its assets and hold its STO on the Dusk Network. BWRE specializes in short-stay real estate and their STO is expected to be held in Q2 of 2019. The project aims to be raise $24M in funding.
However, just as importantly, the Dusk Network is set to begin holding their STOs on both Bitfinex and Ethfinex exchanges. Their operator, iFinex, will offer a period of exclusivity for Dusk Network’s security token offerings. iFinex, being strong believers in the Dusk platform, themselves invested $2m towards their private sale. Dusk Network’s own token sale was one of the first to be held on Ethfinex, and we can expect all of Dusk Network’s security token offerings to be listed on both Bitfinex and Ethfinex.
About Dusk Network
Dusk Network relies on a zero-knowledge cryptography to remove the middlemen from the security market, with the goal being to significantly lower the barriers to entry and capital requirements to invest in security tokens. The Dusk MainNet is expected to go live around Q2 2019 which is around the same time BWRE’s STO is expected to be held.
One of the main reasons the founders of Dusk Network began constructing their platform was over concerns of privacy. There is still a lingering question over whether or not security token platforms can both assure privacy while also remaining compliant. However, Dusk also hopes to bring down the funding requirements for future STOs, an issue that some analysts have said might lead to a “big crunch” in the still-young security token space.
Any thoughts on Dusk Network? Does the platform have an advantage over competitors? Let us know in the comments your thoughts.
Image courtesy of Medium.
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