IX Swap Lists Security Token of World’s Most Valuable Sapphire
IX Swap, a Singapore-based DeFi and CeFi company that is gearing to launch its security token platform STO Swap, has announced the MS Token (MSTO) as its first listing.
The MS Token (MSTO) is a security token that represents fractionalized ownership in the Millennium Sapphire®, the world’s most valuable sapphire currently valued at $150,000,000.
The token also represents future pro-rata share in the potential profits driven by the NFTs of the Millennium Sapphire NFT Studio created in collaboration with some of the world’s most talented studios and digital artists.
As of writing, the MS Token has already produced $37 million worth of NFTs and is backed with the following tokenomics.
- Total MS Tokens: 150 million tokens issued and in circulation
- Public Sale: 3 million tokens – 2%
- Art Acquisitions: 30 million tokens – 20%
- Incentives: 5 million tokens – 3.33%
- Team: 19.62 million tokens – 13.08%
- MFAI Shareholders: 92.38 million tokens – 61.58%
By listing MSTO, IX Swap users can easily trade and invest in the MS Token right from the app at IX Swap. Upon purchase of the asset, they will gain fractional ownership of the record-breaking gemstone and will be able to trade the token on the platform.
The Story Behind the Millennium Sapphire®
The Millennium Sapphire® was discovered in 1995 in Madagascar and designated as a national treasure with an initial value reported between US$90 and US$500 million.
The record-breaking natural sapphire weighed 12.3 kg (61,500 carats) and was carved as a tribute to the creative genius of humanity and is now valued at US$150 million.
Parts of the multimillion-dollar Millennium Sapphire® were sold as NFTs during its security token offering last November 16, 2021, with 150 million tokens minted as part of the sale. It was conducted by Millennium Fine Art Inc. (MFAI) through its wholly-owned subsidiary, MS Token LLC.
STO Swap – The Security Token Platform of IX Swap
The STO Swap platform is a decentralized exchange (DEX) designed for security tokens and harnesses automated market maker capabilities and liquidity pools to facilitate its trading. It comes with a range of features that include liquidity pools, staking, and access to the security tokens catalogue on top of the ability to trade these security tokens 24/7.
As IX Swap’s first major launch this year, the STO Swap milestone is part of the company’s multi-platform roadmap that aims to solve many of the current challenges in the STO ecosystem, most notably the persistent liquidity problem in the industry and the high barrier to entry.
STO Swap will empower both retail and institutional investors to take advantage of the potential of the security token market with unprecedented ease and accessibility through a completely licensed platform.
With STO Swap, companies can have their security token listed easily, while investors can participate in providing the needed liquidity to facilitate the trading of these security tokens. This democratizes access to new investment opportunities by making it possible for everyone to list their tokens and make them truly tradeable.
“We are proud to mark the Swap launch, our first major milestone this year, by listing the security token of one of the world’s most valuable gemstones, the Millennium Sapphire®,” IX Swap co-founder Aaron Ong explain. “We have big plans in the security token space and by harnessing the innovations brought by blockchain technology and DeFi, we want everyone to make the most out of their security token experience – whether you’re a company doing your first issuance, a business that wants to invest in a project you believe in, or a retail investor looking for new opportunities.”
About IX Swap
IX Swap is a next-generation platform that leverages DeFi services backed by CeFi regulatory compliance to facilitate safe and convenient issuance, listing, and trading of security tokens and fractionalized NFTs.
By bridging the gap between traditional finance and innovative blockchain-based solutions, IX Swap is paving the way in democratizing access to traditional financial markets that have never been done before.
Read related stories: MS Token Launches Its First Non-fungible Token Auction
MS Token Launches STO for Millennium Sapphire
Photo by Jené Stephaniuk on Unsplash
Read other stories: Eastern Caribbean Securities Exchange Signs Master Agreement with Blockstation to Launch Regulated Digital Asset Platform
You Might also Like
Related Stories
