Digital Asset Issuance
Asset token issuers can issue asset tokens through the Onboarding Dapp using the Issuance Core Component. Once the information entry of spot assets is completed through Onboarding Dapp, the following data verification and approval procedures are performed:
Data verification and asset token issuance of offline governance
Data verification and asset token approval by online governance
Deliver Asset Token to Asset Token Issuer
Data monitoring by Active Participants
The following asset classes are covered or will be supported by ELYSIA Protocol: - Real estate assets: property bond-type tokens, property shares type tokens - Digital assets: asset derivative tokens, digital native tokens
Asset tokens issued through the Issuance Core Component are used in Dapps using Distribution Core Components (e.g., Defi Bank, DeFi DEX, etc.).
Depending on the purpose of issuing asset tokens, the asset token issuer must either issue asset bond tokens to provide security to DeFi pool and borrow money, or create asset derivative tokens that follows real-world asset data to trade derivatives on DeFi DEX.
Below is an example of the issuance process of asset bond tokens and asset derivative tokens.
1) Asset bond tokens
Asset bond tokens are designed to exercise the rights for underlying assets and functions similar to an actual bond. Currently, asset bond tokens must be generated within the decentralized system to have legal effectiveness (force).
Owners of spot assets proceed with loan contracts and collateralization with contractors, including collateral corporations. (If the Dao organization is formally recognized, direct contracts are possible.) Afterwards, if the asset bond tokens generated by the owner and contractor are provided as collateral to the DeFi Money Pool, the owner of the spot asset can receive the cryptocurrency loan directly. Procedures (1) through (4) take place on the day of the loan request. Here, a contractor, including a collateral corporation, is a group of users who sign a collateral contract with the borrower in exchange for other digital assets. In return for providing the role of the contract in this process, you will obtain the interest and brokerage fees incurred in that process.
In addition, contractors, including collateral firms, can issue asset bond tokens containing the contents of existing collateral contracts, deposit them as collateral in the Defi, and borrow cryptocurrencies themselves to finance them. Through this series of processes, spot assets can be digitized and have real value even in the form of asset bond tokens.
A collateral entity that wishes to participate in the ELYSIA Protocol must have the appropriate license and have good financial status. If this is satisfied, anyone can participate in the asset bond token issuance process and receive compensation. However, any collateral entity that has an adverse effect on the system or in a difficult financial position may be monitored and sanctioned by the governance body.
(1) Asset Group Selection and Bond Agreement
The asset token issuer proceeds with loan contracts and collateralization with the collateral corporation.
(2) Select Network
Start by selecting the network on which you want to create a new asset bond token through the Onboarding Dapp. The following networks are currently supported: Asset tokens will be issued to various mainnet networks in the future.
Ethereum
(3) Address Connection
To deploy a new token, you must sign a transaction on the selected blockchain, so the first step is to link the addresses. ELYSIA Protocol will support various address connection methods.
(4) Creating Asset Token Contacts
The asset token can be issued after the input is completed according to the type of spot asset. The asset token issuer can determine which distribution network it distributes the asset token it owns.
2) Asset derivative tokens
Asset derivative tokens must follow asset prices in real-time while maintaining decentralization. The recommended interval to track real asset prices is every 5 minutes but may vary depending on the asset group. The issuer of the asset derivative token must also place 150% of the asset token value as collateral in EL tokens or stable coins.
(1) Select Asset Group
Specify asset group for tokenization
(2) Select Network
Start by choosing the network on which you want to create a new asset bond token through the Onboarding Dapp. The following networks are currently scheduled to be supported:It will also be supported to issue asset tokens to various mainnet networks in the future.
Ethereum
(3) Address Connection
To deploy a new token, you must sign a transaction on the selected blockchain, so the first step is to link the addresses. ELYSIA Protocol will support various address connection methods.
(4) Creating Asset Token Contacts
The asset derivative token can be issued after the input is completed according to the type of spot asset to follow the price. The asset token issuer can determine which distribution network it distributes the asset token it owns.
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