RWA narrative tokens you say? We’ve got you covered.
Redbelly ($RBNT) is an EVM-compatible Layer 1 blockchain, purpose-built and specifically designed for compliant asset tokenization (or, “CAT”) for Real World Assets (RWA). I assume the compliance part is with the Australian government where they are based and headquartered in Sydney. The Australian SIC (securities and investments commission) is quite extensive in their regulation of the stock market, so by extension I imagine that if compliance can be achieved there it has a good chance of getting recognized in other jurisdictions.
The project has been under development for more than 5 years, with an office in Chandigarh, India. Apparently, not much of that development has gone towards making their website look better, lol.
They have “already signed” and are projecting to get a TVL of $73.8B in 2024, which could make it the #1 Global "Real World Asset" Network, or the biggest crypto project in terms of TVL at launch, even more than Ethereum, Tron, Binance Smart Chain & Solana combined. Say hello to skepticism on that, but then also an incredible upside if it plays out.
Redbelly has already announced publicly that both private equity and rent roll tokenisation solutions are being built for customers Liquidise and Hutly. More research on these two names needs to be done.
Since those announcements, further use cases and commitments from existing customers have been secured, as well as agreements with several major new customers yet to be announced.
Their native token, $RBNT is now confirmed.
According to tokenomics, over 37% is allocated for incentives & rewards, with 15% rumored for rewards. They currently have their incentivized testnet open.
CEO Alan Burt claims that “Redbelly marks the first time a compliant solution has been made a reality. Multiple different tokenisation customers have explored how it solves the KYC, AML and CTF regulations in their own industries, and have committed to joining their testnet which was launched at the end of May.”
To participate, you’ll need to complete KYC with a passport, so do note that before you proceed.
Faucet is available on their Discord: discord.gg/2dEuXYpH
So far, the testnet surpassed 15k transactions in the first week of launch despite limitations on DID integration and KYC identity documents.
https://www.redbelly.network/blog/redbelly-launches-testnet-announces-pipeline Show Less
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