The first view of the CRWDNetwork Token Generator
The idea of the Token Generator is to enable companies to set up their own Security Token. A security token, at its core, requires four elements. The first element is the legal contract itself which is used to start the fundraising. The compliance working group works on these templates. The second element is the fulfilment of the regulatory requirements. In the token generator, a process is presented how the companies can easily get in touch with their law firm (the compliance partner) and prepare the consumer information and regulatory documents. The third element is the administration level. The administration level is covered on the one side, on the blockchain, with the security token itself and on the other side with the CRWDNetwork Token Generator. The fourth element is the funding page for the companies, which will be presented in the next blog post.
It is planned that there is a login to the token generator via MetaMask or via a wallet from Upvest.
The funding generator wireframe can be accessed here:
https://www.figma.com/proto/nPdMSMor3D7sN4FGEjU9XT/CRWDNetwork
If you have ideas or feedback, please send it to team@crwdnetwork.com
Dashboard of the Token Generator
The Token Generator is where the company can view information about its own Security Token. In the Dashboard, the different offerings are listed. By clicking on “details”, all of the details of the offering can be evaluated, such as contract, campaign and compliance information. On the left side, the menu offers four core areas. The “New Offering” is the start of the generator for a new Security Token. The next area is the Know Your Customer tool. Every investor has to have a KYC-Check. In the Alpha Version this will be done by the company together with the KYC/AML-Provider. Thus, the area, “Know Your Customer” is the view of the company on the investor’s KYC check status. The last area is the settings part, where the other provider can be selected.
New Offering — The Token Generator
A Token can be created in six steps. The first step is the upload or the creation of the contract. For this, a generator will be provided which works on top of the templates developed in the compliance working group.
After finishing the contract generator, the contract is provided as a draft and can be used in the next steps. Additionally, the details of the campaign itself are collected.
In the next step, the consumer information needs to be created. Creation consists of two phases. In the first phase again, a generator is used to prepare the consumer documents. These documents are then sent in the second phase to the different law firms (the compliance partner).
In the last step, the CRWDTokens need to be paid to start the Security Token Sale. As soon as enough tokens are paid, the token can be activated.
In the alpha version, the company can manually confirm that the tokens have been paid to the IBAN account of the company and the tokens can be issued by the company. This allows full control of the issuing process. In a later phase this might be automated, incorporating learnings from the first security token projects.
Know Your Customer
The Know Your Customer interface is used in order to identify the investors before they can make an investment. The process will be split into three steps.
The first level requires just an upload of a passport and a selfie, which will be checked by the company. In the second level, video identification is also required. In the last step, a full AML check is required, where information about the source of funds proven by documents is collected.
Summary
The wireframe gives the first overview of the CRWDNetwork Token Generator. It is used as a form of communication, so everyone interested can give feedback in an early phase. It must be pointed out, that the actual version will of course look different at different stages, which will reflect the feedback we receive.
Thus, we are looking forward to your feedback and are more than happy to discuss possible questions. Please send us an email to team@crwdnetwork.com
