Here's how it works
Here's how an enterprise tokenizes Singapore Dollars (SGDR) with Rate3 Protocol
1. User completes KYC/AML checks and provides Ethereum or Stellar public address to registered trust company
Rate3 Protocol
2. Upon approval, user transfers the Singapore dollars to the trust company
3. After fund verification, Rate3 smart contracts mint and send corresponding tokens to users' wallet address
RTE Token Usage
The RTE token is a utility token for work on the Rate3 Ecosystem. It also align incentives, by encouraging good behavior and punishing bad actors.
Asset & Identity Staking
Collaterializes all underlying assets and identity, for increased trust and accountability in the system
Transaction fees
Key actions require transaction fees, paid proportionally to stakers of the underlying assets
Incentives
Third party service providers get paid for performing services (asset evaluation, auditing, notary services) for the network
Bridging enterprises to blockchains