BetterTokens is thrilled to announce the results of the review of the applications for June and July. Cooperation of Waves and BetterTokens continues to bring more clarity and trust to the community.
During this month, the BetterTokens team received more than 20 application requests for Qualified status.
Positive review results
The assessment of 15 projects has been finalized and only 3 projects out of 15 were awarded Qualified status.
We welcome new members on board: TurtleNetwork, EncryptoTel and iQCash. Those projects will receive logo in Waves client and ticker on DEX, together with Qualified status.
The remaining 13 projects reviewed by BetterTokens were not able to demonstrate the required level of compliance with Tokenization Standards and obtain Qualified status.
As usual, we would like to draw the issuers’ attention to the following reasons for not obtaining the status:
- Poor quality of the White Papers. During this stream, we have received 3 White Papers which were fully copied from the White Papers of the existing projects (Dash and Waves). We draw the attention of the issuers that in such cases the applications are disregarded and the status cannot be awarded.
- Lack of AML/KYC procedures in place for stable coin project.
- Inconsistent and misleading information.
Recommendations for the applicants
We kindly ask all applicants with the pending applications to submit documents or periodically update the BetterTokens team regarding the status. If you receive the follow-up email from our side we also expect to receive a response from your side.
Please also keep in mind application requirements. It is important to provide a basic description of the project, requested ticker (not exceeding 4 symbols) and logo (20 kB is the maximum size).
The issuer should have a separate website. We cannot proceed with the review of applications with the indicated website address which is not HTTPS secured and independent (the website should not be based on the BlogSpot, simplesite or other similar platforms).
BetterTokens team is open for your applications and requests, feel free to connect with us via firstname.lastname@example.org.