Stobox Monthly Report — September 2021
We are pleased to release Stobox’s monthly report for September. This report helps Stobox investors, team members, fans, and regular users track the company’s progress and achievements. In order to cover all scope of the company’s developments, we logically divide our actives into the following categories:
Stobox Digital Securities Dashboard is a comprehensive SAAS solution to streamline all operations with tokenized securities. Reach investors globally, enable trading of your shares, and tap into new powerful sources of capital.
Current version – 2.9.10.
The product overview is available on the official website here.
1. Enabling setting up DS Dashboard environments for clients via configuration files
The software is adapted and customized for each client, which allows the client to independently manage their environment with tokenized securities and investors. The speed at which each dashboard is delivered to the client is a key metric for scalability. Thanks to automation, we have reduced the process of technical deployment of the dashboard to 2 days. Unfortunately, we cannot effectively reduce the time in other aspects such as legal preparation or preparation of documents from the client’s side.
2. Added regulatory rules for multi-jurisdiction offerings
3. Created API module
4. Optimization of current functionally
We have prioritized ongoing and future developments and focus on the following roadmap for Q4 2021:
1. Custody integration
Please note that, unlike crypto assets, security token custodian services must comply with securities legislation, which severely increases the complexity of this task.
2. Integration with fiat providers
Integration with fiat providers would allow investors to send payments within one service provider, lowering commissions and ensuring delivery versus payment. Great tool for the adoption of security tokens.
3. Cross-chain integration and bridging
Corporate securities can exist on different blockchains at once. Lower commissions, better speed, or availability of enhanced infrastructure may influence the decision on which network security tokens are currently stored. Therefore cross-chain capabilities and a blockchain agnostic project environment are essential.
4. Advanced API functions
Stobox team works on the proprietary CEX exchange for both business and individual users.
Current version – 0.6.0. An updated version is coming soon!At the time of writing this report, we are testing the 0.7.0 version internally and planning to release it on Week 40-41 (this or next week). The updated version includes:
- Multiple bug-fixes on both back-end and front-end;
- Connection to liquidity providers;
- Localization package (the first language after English is Ukrainian);
- Coingecko and Coinmarketcap required public pages: markets, fees, minimal trade amounts, etc.;
- Exchange statistics module.
Once we release the 0.7.0 (Week 40-41) version we will continue with adding new assets and start marketing activities.
A very important milestone is the legal setup of Stobox Exchange. We have finally cleared all legal arrangements with the registration of the exchange on the British Virgin Islands. BVI has no income tax and does not require licensing, which is cost-effective and convenient from an operational standpoint. However, in the future, we oversee the importance of acquiring crypto licenses in the countries where main operations take place.
Stobox L2 Blockchain
Stobox L2 is a temporary naming. Complete information on the network parameters and requirements will be published later in October. Plans: testnet launch – December 2021, mainnet launch – Q1 2022.
As we have stated earlier we are examining best practices in order to set up Stobox proprietary DeFi infrastructure which would be opt for security tokens primary and secondary transactions. As the result of our research and internal analysis, we have decided to take a very important step and go with the development of the Stobox proprietary network — Stobox L2 Blockchain. The implementation of POS permissioned blockchain would ensure minimal stable gas prices and give Stobox much more room for operations.
What does it mean for Stobox and its clients?
- Most secondary market transactions with security tokens will be done on Stobox L2 and published on L1 network (Ethereum, Polychain, Algorand). Thus we ensure maximum integrity of the registry while proving low fees for our customers.
- Every STO client who uses Stobox infrastructure for secondary market operations must be a node operator. This policy ensures that companies keep their registries themselves.
- Every node operator has to be legally validated: KYC/KYB. Unlike with most quasi-decentralized networks, we state that Stobox L2 is permissioned, with no barriers for block-miners other than verification.
- Unlike most public networks today, Stobox L2 respects international AML and KYC policies to comply with international rules and regulations.
What does it mean for STBU tokenholders?
- STBU transforms from a token to a coin.
- STBU will be mineable with no limits on total supply.
- Before the mainnet launch in Q1 2022, we will keep only 50M STBU on the Ethereum network. The rest will be burned. Therefore the total supply with be 50M. There will be also 50M L2 STBU premined and reside on the bridge, making it possible to shift from Ethereum to Stobox L2 networks to launch a node and to start operations. The Stobox team will not sell or distribute any STBU L2 coins. Only via the bridge from Ethereum or BSC networks.
- According to preliminary calculations, only around 1.5M STBU will be mined in the first year of operations.
Launching proprietary blockchain and DeFi activities of such type imply serious legal preparations.
Website and other product dev1.
Ongoing development of Stobox Official Website to v.8.0.0.
- Stobox ID / SSO
- Integration with DS Dashboard and Crypto Exchange
2. Updated corporate UX/UI guidelines ensuring better usability for Stobox products.
If you have any questions about Stobox products and the process of development, please write to [email protected]
We are proud to announce that in September 2 (two) new companies have signed a contract with Stobox in respect to their Security Token Offerings. Stobox team will execute full-cycle STOs for both new clients. Moreover, there are 20+ clients in the pipeline in the final stages. We are sure that most of them will choose Stobox as their tokenization provider.
In September 3 (three) clients have received consulting reports on how to perform a Security Token Offering. 100% of them are prepared to use Stobox DS Dashboard as the technical infrastructure.
The first STO to be released is Mariana Mining company.
Please note that the STO process may take from 2 to 6 months depending on the complexity and the client’s speed of preparing necessary documentation. Meanwhile, we are working on reducing the time spent on technical setup of a typical STO from 6 weeks to 2 weeks.
Other ongoing activities and achievements
- Refactored Stobox presentation and sales materials;
- Refactored STO packages and pricing;
- Finalized Stobox strategic Objective Key Results for the team;
- Participated in CoinAgenda event in Monaco;
- Prepared the STO delivery handbook;
- Updated the roadmap for Q4 2021;
- Registered a legal entity for Stobox Exchange operations;
- Listing on Trustcoin.cc;
- Launched Stobox Reddit Community.
Legal and financial structuring
It is extremely important to clarify the relationships between different legal entities within Stobox holding. Please note that Stobox operates 3 legal entities:
- Stobox Technologies Inc.
US-based c-corp which is focused on the delivery of tech products for tokenization and tokenization services B2B clients. The entity’s shares have been tokenized and can be purchased via Stobox DS Dashboard. Stobox Technologies Inc. also provides technical outsourcing services. Please note that none of Stobox crypto activity is associated with Stobox Technology Inc.’s legal entity.
- Marquest Finance Limited
British Virgin Islands limited company that operates Stobox Exchange and Stobox token activities. Please note that 10% of revenue generated from crypto services is passed on to Stobox Technologies Inc. according to IP contracts.
- Stobox Ukraine Ltd.
A Ukrainian legal entity is structured for Ukrainian operations including team management, crypto activity in Ukraine, local consulting and operations with third-party contractors. Stobox Ukraine Ltd is 100% subsidiary of Stobox Technologies Inc.
Invest in Stobox Tokenized Stock
We have tokenized our shares and are offering them to different investors groups via Security Token Offering. To invest into Stobox common stock please continue here.
This week, we plan to release a Q3 report for Stobox Technologies Inc. investors in STBX security token. The published report will be available in the Corporate Documents section of the Stobox Dashboard.