Moflix onboarding platform for TokenSwap
Moflix offers a compliant onboarding solution for the de-tokenization of digital assets. Everything you need in one platform.
Remote onboarding for Token Swaps
An initial coin offering (ICO) is a fundraising tool, similar to a crowdfunding campaign, such as Initial Public Offering (IPO). During an Initial Coin Offering, companies issue digital tokens where the token represents an underlying tangible or intangible asset, thus the economic value of the asset is granted to the token. With an ICO, companies can raise capital faster and at a lower cost compared to the traditional methods of fundraising.
However, unlike IPOs, which are heavily regulated, ICOs have little regulatory oversight. The unregulated market of the ICOs has also favored scams. In fact, countries like South Korea and China have banned ICOs after finding that some Token projects broke the rules.
In many cases, it is very difficult for companies that have raised money using an ICO to raise money again using a different method, as well as getting listed in traditional stock markets.
Moflix offers a fully digital solution for companies that have raised money through ICOs and have issued tokens, and want to move towards more regulated markets.
Through the Moflix onboarding Platform, token-holders can easily complete the self-onboarding and and choose to exchange their tokens for a recognized financial market instrument or cash, for example. Once the token-holder has successfully completed the onboarding, the app generates a "burn address" and then the token-holder can send the tokens to his personal burn address.
Key features:
- White-Label platform: a ready made-solution for easy implementation and fast time-to-market with full compliance.
- Know Your Customer: Implementation of customer identification (KYC) and identity verification for remote onboarding using Onfido with customizations such as document and country restrictions.
- Very compact client and backend implementation.
- Connection to Ethereum network.
- Backend generates "burn address" for collecting tokens.
- Remotely configurable UI strings (no app release needed).
- All screens covered with test automation
- AWS deployment with fully automatic pipelines (dev / staging / prod)
- Automatically generated reports of "burned" tokens.
- AWS Lambda code sharing with "layers"
Remote onboarding
"We needed a secure digital on-boarding solution for our token holders so that they could swap their MOD tokens for either cash or participation certificates. Moflix provided us with a flawless digital onboarding solution that makes it easier for the tokenholders to complete the self-onboarding in under three minutes"
Sacha Uhlmann
Chief Product Officer at modum.io AG