Tokensoft Unveils Web3-Oriented Platform On Ethereum and Avalanche
- Tokensoft intends to foster the deployment of the V2 network on ten chains before 2022 ends.
A leading technology and Web3 company, Tokensoft has unveiled a Web3-oriented platform identified as Tokensoft V2 on Ethereum and Avalanche. The newly unveiled platform, according to Tokensoft, helps in providing an avenue for customers to trade and circulate their respective tokens easily.
As reported, the firm said Tokensoft emanated owing to its resolve to make subscribers enjoy open and more equitable sales. The firm hinted that achieving such also involves identifying existing problems such as the prevalence of bots on networks, skewed price discovery, and unexpected hikes in transaction fees.
According to findings, the new V2 platform became deployed to Ethereum and Avalanche after about four weeks of testnet operations, carried out with 13,637 subscribers. Now, the firm intends to foster the deployment of the V2 network on ten chains before 2022 ends.
Findings reveal that Tokensoft had obtained a preparatory grant clearance from blockchains projects, including Avalanche and Polygon. Reportedly, Polygon’s chain launch is predicted to attract about 5000-10000 consistent users to the network. The Tokensoft group further intends to attract additional users by easing the experiences incurred in sales and distribution of tokens.
Tokensoft V2 Platform Aids Compliance
Notably, TokensoftV2 further offers mechanisms necessary to ensure compliance with the cumbersome rules associated with global token sales. Reflecting on the development, the CEO of technology and web3 firm, Mason Borda, hinted that Tokensoft has constantly dealt with regulations compliance challenges since its emergence in 2017.
In an interview held a few days ago, Mason revealed that Tokensoft frequently collaborates with its customer counsels to assess existing regulations. According to him, the effort is necessary since developers who operate some projects possess little or no knowledge of regulatory guidelines. Reportedly, the company secured a permit for her first two projects from the regulator.
Worth noting that the web3 firm developed a mechanism in 2019 to assist token issuers in hearkening to the existing regulations. More so, it facilitated an administrative panel for all its transfer agents. Reportedly, Tokensoft has continued to maintain such technique to date, as evident in its recent launching of a web3-oriented network.
As of now, Tokensoft is gearing up efforts to exterminate bots capable of monopolizing sales. According to the firm, the steps will help to pave the way for original users to access and participate in its sales programs. Notably, the platform also uses native Web3 technology to place subscribers in the sale at a determined cost.
Rebecca is a Senior Staff Writer at BitcoinWisdom, working hard to bring you the latest breaking news in the cryptocurrency market. In the words of Elon Musk “Buy stock in several companies that make products & services that *you* believe in. Only sell if you think their products & services are trending worse. Don’t panic when the market does. This will serve you well in the long-term.”
