The ERC-3643, previously known as the T-REX protocol, is an open-source suite of smart contracts that enables the issuance, management, and transfer of permissioned tokens. $28bn worth of assets have been tokenized through ERC-3643.
More info at ERC3643.org
The source code is well crafted and follows security practices compliant with the architecture described in the whitepaper.
The infrastructure used in private markets consists of many disconnected and siloed service providers. Due to market fragmentation, analogue and arduous processes have been implemented to enforce trust. This lack of infrastructure leads to poor asset transferability and little to no liquidity.
The ERC-3643 allows market actors to apply trust, compliance and control on a shared infrastructure and achieve enhanced transferability. Actors utilizing the ERC-3643 can unlock the tremendous benefits that come from adopting a high functioning infrastructure and improve the liquidity of securities.
With the ERC-3643, the compliance is programmed into the security token. Transfers to ineligible investors are impossible through the fast and secure validation system.
Yes, the ERC-3643 is open source. See the GitHub here. Tokeny provides the APIs and software to easily deploy and manage these security tokens.
Yes, reliable companies support this standard and it has been externally audited by cybersecurity firm Kaspersky. It is the most proven protocol with years of development and evolution since 2017.
Via the investor and offering rules that are checked in every transfer. Investor rules are enabled with ONCHAINID and offering rules are enforced with the compliant ERC-3643 standard. Also, there are many built-in functions to control the tokens and assign roles and permissions to different stakeholders.
Yes, ERC-3643 is ERC-20 compatible, as well as with the majority of DeFi applications.
The ERC-3643 manages compliance by leveraging the security of the blockchain with an automatic validator system. This system applies the transfer rules related to users (identities) and those related to the offering. The issuer of the securities, or its agent, always keeps control of the tokens and the transfers. ERC1400 is another approach where each trade must be validated by a specific key generated offchain.
We firmly believe the future of finance will operate on public blockchains but by applying control and compliance through permissioned tokens and onchain identities. This is exactly what the ERC-3643 is providing. Private blockchains will struggle to progress because they defeat the purpose of what blockchain was set out to do in terms of removing fragmentation.
Modernize your securities with the leading security token standard via ready-to-use API and software
