Dusk Network All Set to Launch its First $24 Million Security Token Offering in Bitfinex Partnership

In yet more exciting news for the crypto sector, a representative for the Dusk Network (DUSK) has said that his firm has teamed up with Maltese real estate company, BWRE, in order to launch its very first STO (security token offering).

Additionally, for those who may not know, BWRE specializes in renovating and marketing short-stay lets. With this latest partnership, the firm is looking to raise approximately $24m (out of which $6.3m has already been procured).

Dusk: An Overview

In its core essence, the Dusk Network is designed to help provide companies with a technological framework so that they can launch a regulatory-compliant STO. When using the platform, investors have the ability to freely communicate and exchange tokens via the network.

At this point, it is also worth mentioning that the BWRE STO is scheduled to commence sometime after the Dusk Network mainnet goes live in Q2, 2019.

Dusk: A Technical Overview

The Dusk Network is made up of three separate layers that provide the platform with the ability to facilitate payments as well as communicate with other participants in a completely private and secure manner. Not only that, since compliance is on-chain, teams have the option to interact and transact confidentially without having to go through any intermediary entities. As a result of this, the network can be scaled up as well as transaction costs can be reduced quite substantially.

Lastly, just yesterday, European investment fund, Olymp Capital, announced that it had invested in BRWE’s STO. On the matter, Olymp CEO Christophe de Courson, was quoted as saying:

“The Dusk Network team has created a technology that adapts uniquely to the needs of STO investors, and we see tremendous upside from their infrastructure.”

Final Take

Since equities are quite an established asset class unto themselves, STO's can easily make use of their existing regulatory frameworks. As a result of this, companies can participate in token sales much more easily (something that was previously not possible with ICOs).

Speaking on the matter, Dusk executive Jelle Pol was quoted as saying that initial STOs like BWRE present the firm with the right opportunity to showcase the platform’s true potential.

Pol then went on to add:

‘’Although Dusk is a protocol play we have chosen to help the first few propositions to market through our digital asset hub. We are extremely keen to showcase what Dusk Network can do as a layer 0, and really see working together with parties like BWRE as a great kickstart to our ecosystem.We cannot wait to see more platforms use Dusk as an underlying protocol,”

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