The WORBLI Token Protocol (WTP) Explained
The WORBLI team has been busy developing features that will enable DeFi as we’ve never seen it before. The value proposition of DeFi, or Decentralized Finance, is a system that will enable efficient, transparent and fair financial services for the world. This can only be achieved with cutting-edge technology and features such as the recently developed WORBLI Token Protocol (WTP), available to all developers building applications on the WORBLI network.
The WTP will allow developers using the WORBLI Network to create certain parameters and rulesets within on-chain token contracts, opening up a plethora of opportunities around functionality and compliance. In conventional application development, these parameters and rulesets would need to be built into the application or chain layer, creating friction and bottlenecks for users and developers alike.
The WORBLI Token Protocol is made possible through the use of on-chain registries that provide data associated with our network chain accounts. Smart contracts are able to obtain this data, allowing for specific parameters to be added for users. While the registries provide account level control of on-chain activities, we also provide a set of token contract enhancements to apply controls against properties of the token such as token supply, number of unique holders, and number of transfers; granting token issuers and developers increased flexibility.
With the WORBLI Token Protocol, development and compliance structuring times are significantly reduced. Some of the features that can be easily implemented at the token level are listed below.
Geolocated Tokens
This feature will allow developers to track and monitor their user’s tokens and gain location statistics, allowing for enhanced geolocated human aid and charities with cryptocurrencies, community/country-based currencies, voting tokens within a specific area, and augmented reality capabilities.
Accredited Investor Tokens
Friction around onboarding accredited investors for applications and fundraising will be significantly reduced with the WTP. The protocol will enable developers to set certain rules around accredited investors and provide a single check for accredited investors for multiple investment opportunities. This will be particularly valuable to companies looking to implement a Security Token Offering (STO), with the ability to track and monitor tokens belonging to accredited investors.
Transfer Limits
The WTP allows developers to set certain transfer limits when dealing with the exchange of tokens, along with various other token metrics.
Compliance
Compliance is made even easier on the WORBLI Network, with the reduction in the amount of transactional monitoring a compliant business has to perform and the ability to Assign permissions to tokens to simplify compliance requirements.
Everything that we do at WORBLI is focused on reducing friction; whether that be from a developer’s standpoint, compliance for a startup, or for users of our network and applications. The WORBLI Token Protocol is yet another tool for the belt of our developers who are working on building the next generation of financial services, capable of bringing fairness and inclusion to the world.
The WORBLI business development team loves working with great projects. If you think WORBLI’s state of the art financial services blockchain could help your business or application, send an email to mitch@worbli.io
To learn more about WORBLI or create an account? visit www.worbli.io
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