Smartlands (SLT) had its Initial Coin Offering (ICO) on Nov. 2, 2017. This was the first ICO ever hosted on the Stellar network.  The SLT token is the native token on the Smartlands platform and has been designed to allow the seamless transfer of value between members of the farming community.

In their recent update, the team explained current state of the platform – it is fully functional and KYC/AML-compliant platform whose core functions are designed to transform the entire security token landscape.

The platform will open its doors for first users “very soon”. Smartlands obviously understood the message regulators sent to the cryptocurrency teams and the cornerstone of the whole platform is its focus on conformance with regulations.

“Since the Platform is prohibited from simply collecting cryptocurrencies from investors ICO-style, the actual token sales process prioritizes the safety of investor’s funds and ensures full legal compliance through the engagement of licensed custodians and licensed OTC exchanges. Those entities securely process funds, exchange cryptocurrencies to fiat, and accumulate fiat in an Escrow account to make a timely pay-out to an asset owner upon completion of a transaction.”

Integral part of Smartlands is its marketplace that serves as a hub for asset owners, managers and investors – it is essentially the core feature of the platform.

True to their regulatory compliance maxim, they have a separate document management section along with verification interface.

“Once an investor has selected a security offering in the Marketplace application and compliance rules are passed, several options to purchase are presented: XLM token for instant purchases, fiat bank transfer for institutions or fiat investors or investments in cryptocurrency.

The most important feature of the Smartlands Platform is that all pay-ins go directly to a licensed custodian account, who bears a legal obligation to store and safeguard users’ funds. The funds used for crypto purchases will be transferred through a licensed OTC exchange for instant exchange of the accumulated crypto to fiat.”

There is additional marketplace – secondary market for direct trades of tokens among investors.

For distribution of the payouts, Smartlands will utilize a flexible structure of Nominee, Custodian, and OTC-Exchange to ensure the correct amount of the dividend payment less a fraction of a penny in transaction costs. Further, to make the process of dividend distribution even more straightforward, the Smartlands Platform is considering the implementation of fiat tethers.

At the end of this report, Smartlands team explains why they picked Stellar blockchain to launch their project and also circles back to the regulatory component of the platform and the importance it has in their system.

The post Stellar (XLM) has a very promising project on its blockchain – Smartlands (SLT) appeared first on CaptainAltcoin.

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