This article was first published on Waves Platform - Medium
BetterTokens aims to improve the quality of digital assets, bringing more consistency to the Waves ecosystem and benefiting the entire crypto community.
The Waves team is thrilled to announce that Waves Platform has signed a cooperation agreement with Tokenization Standards Association (TSA), operating under the brand name BetterTokens and aimed at creating standards for the crypto industry.
Waves is constantly looking to improve investor protection and fight fraud, making the Waves community and the crypto space in general a better and safer environment.
To achieve this, Waves joins forces with BetterTokens, an independent non-profit organisation registered in Zug, Switzerland, established by leading industry experts.
As part of the broader Waves ecosystem, BetterTokens’ main task will be the careful assessment of tokenisation projects under clear guidelines.
Any token issuer will be able to apply for the status of Qualified Token Issuer under the process explained in detail here.
Information gathered about token issuers will be recorded on the Waves blockchain as a DataTransaction, which will ensure its immutability and reliability.
Qualified Token Issuer status will guarantee membership in BetterTokens, verified token status on Waves, a ticker, logo and priority search listing on Waves DEX.
Projects that are already identified with a ticker on Waves DEX will be able to take advantage of a six-month grace period, beginning on the date of this announcement. To maintain their current tickers, they will have to go through BetterTokens’ review process in this period.
Projects that have not undergone BetterTokens’ review process will only be searchable on DEX by their token ID.
As an example of how the new status will be displayed on Waves Client, BetterTokens has pre-selected four tokens listed on DEX for which the information required for review was already available — namely WAVES, MRT, WCT and PBT. Those tokens were awarded Qualified Token Issuer status ...
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Waves Platform - Medium