STIMA-TOKEN RELEASE PROCESS

STIMA

Published in

Coinmonks

2 min readMar 1, 2022

To better explain the unlocking process, a detailed diagram of the decision making process has been drawn:

The process develops in 3 steps:

a) Does the owner decide to deposit the asset in the vaults?
As the tokens are minted, STIMA signs a contract with the owner which contains the following data:
- description of the asset,
- agreed value in dollars,
- value of the STIMA-tokens at that particular moment,
- timing to deposit the asset in the vault.
If the owner does not deposit the asset in the vault within the agreed time frame, the locked tokens are burned

b) Does the asset match the information?
During the minting process the owner completes the AML procedure, which includes KYC and KYO.
If the information received differs from the information found during the acceptance of the asset in the caveau, all the locked tokens are burned.

c) Does the asset pass the condition report?
The asset is subjected to an in-depth analysis of the conditions.
- If unacceptable damage is found, all locked tokens are burned.
- If acceptable damage is found, the asset value is recalculated, and the surplus tokens are burned.

Finally, if all the conditions listed in points a, b & c are respected, the tokens are unlocked.
From that moment on, the tokens can no longer be manipulated by STIMA, and are considered to be in free circulation.

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STIMA-TOKEN RELEASE PROCESS

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Written by STIMA