The Loopring Foundation and Corl Financial Technologies Inc., have signed a Memorandum of Understanding (MoU) with the intent to list the CORL token on Loopring-based DEXs and form a partnership for advancing the Security Token ecosystem.
Corl, aiming to be the first fully licensed and regulated Security Token, will allocate a portion of their $49.5M raised to fund startups and SMEs. By distributing founder-friendly funding, Corl is entitled to flexible monthly repayments that are proportionate to funded companies’ revenue. Corl token-holders receive quarterly dividends, paid in ETH, derived from portfolio companies’ performance.
As an asset-backed token, CORL is a security, and that status subjects them to securities laws and regulations. Corl must take measures to ensure that they remain compliant, and follow regulations such as Know Your Customer (KYC). Corl will KYC 50K Early Adopters and Investors by whitelisting the address associated with each user via IdentityMind and Polymath, protocols created to streamline the Security Token compliance process.
In the secondary market, compliance is written into the smart contract level and precludes the token from being held/traded by disallowed individuals. Since regulation is blockchain address-based, all trades run through this “smart contract screener”. As such, decentralized and peer-to-peer trading of non-public securities becomes a lot easier: with compliance baked-in, larger and deeper liquidity pools can form, and asset transfer is rendered near-frictionless.
For these reasons, Loopring is cognizant of the Security Token landscape, and believes the trading of these assets will inevitably take place on decentralized exchanges. Loopring’s protocol is open and flexible, and we know that some of the projects and DEXs built on top may position themselves as purely Security Token DEXs.
We are pleased to form this MoU with Corl to:
A) Facilitate the listing of CORL on future Loopring DEXs (whether it be our own reference implementations, or those of third parties),
B) Build out further tools and infrastructure for the Security Token trading ecosystem.
Corl is revolutionizing the way businesses raise funding with a transparent blockchain investment platform. By leveraging automation and quantified risk management, Corl’s Security Token offers an intuitive way to inject capital into high-potential early revenue businesses. Founders get fast, fairly-priced non-dilutive growth capital and investors receive dividends paid out in ETH.
To find out more about Corl’s Security Token Offering or to apply for funding, please visit: http://corl.io.
Loopring is a blockchain agnostic open protocol for decentralized token exchange. Currently deployed on top of Ethereum, Loopring allows developers and companies to build decentralized exchanges or otherwise implement non-custodial exchange functionality within their dApps. With hybrid off-chain order management and on-chain settlement model, Loopring ensures a trustless trade environment without sacrificing performance.
To find out more about the Loopring protocol and how you can build your own DEX, please visit http://loopring.org.
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