Security Token Offerings (STO), what some say as the next evolution of Initial Coin Offering (ICO), has gained a lot of fanfare and interest. But the landscape is a mess.
Many of the developments have been piecemeal or standalone. Very little effort has been made to connect the dots between them.
STO Network aims to address this by creating a community and is betting heavily on a new token to help it achieve one.
As a marriage between a media platform and the largest marketplace in Asia, STO Network was created to bring together crypto markets and traditional finance by providing a platform to match security tokens.
Essentially, STO Network is a platform under CoinsNetwork and was established in October 2018 to bridge the gap between traditional finance and cryptocurrency and to explore the opportunities in the security token market.
“There are different industry players across the globe, but the information mobility is limited between service providers, project teams and investors. We want to be the bridge to linking different stakeholders and make it as easy as possible to explore opportunities with one another," said Sum Chi Ho, head of Asia Operations at STO Network.
STON, STO Network's internal token, aims to be the gel to hold the network together.
STO Network will reward token issuers and service providers who list on the platform, giving them access to discount rates.
Meanwhile, current projects can use STONs for consultancy services and other advice, while general users can unlock more information about STO projects using the token.
According to the press release, STON has bigger ambitions. It aims to be used for other financial services when certain requirements are met as well as leveraged as an incentive to users.
STONs are not just for STO projects. Users can also get them as rewards for referring the STO Network to others, promote their favorite projects and services on the STO Network platform to fellow users and generate original content such as project reviews, blogs and videos.