Sumotex Presale Goes Live, Spearheading $250M TVL Tokenisation Worth of Real Estate Upon Ido
[PRESS RELEASE – Kuala Lumpur, Malaysia, 26th September 2022]
SUMOTEX is a revolutionary coin that is currently in its presale status. The project is developed on the vision of the cofounders of bringing web3 into real estate and institutional finance. Started out as an NFT project on the IoTeX blockchain, Sumotex has quickly gained traction and popularity within the ecosystem and has risen to become one of the top projects. The protocol solves one of the largest and most pressing issues that is long present in real estate and institutional finance, liquidity.
Sumotex AssetFi protocol tokenizes off-chain assets such as real estate, bonds, company shares and investment funds. Sumotex calls it (Tokenise-to-earn), where everybody will be able to tokenize their real estate/ real-world assets on the protocol where INSTANT liquidity is achieved. It is already proven as there are used case with Sumotex where they will be tokenizing a portfolio of real estate in Malaysia worth 2.5mil USD.
The CEO of Sumotex, Dexter mentioned: “We are finalizing the details of a mega tokenization project on our protocol worth 250mil USD. It will be a mixed development with a Development Value of 1.1 Billion US.”
The blockchain community has never seen anything like this where liquidity is achieved almost instantaneously. In Sumotex’s roadmap, Sumotex has also mentioned that they will be issuing the world’s first over-collateralized Real Estate back stable coin, where asset’s owner will be able to tokenize their assets, choose to deposit their assets into Sumotex stablecoin vault for stablecoin issuance at a margin.
With the vision, capability and potential of SUMOTEX’s goal of bringing web3 to traditional real estate and institutional finance. This presale is not one to be missed where Phase 1 goes for 0.07USD per SMTX while listing price on Uniswap will be 0.10USD per SMTX.
Users can buy here: https://coin.sumotex.co
About Sumotex
Executive Summary
Founded in 2021, Sumotex was established to revolutionize the long stagnated real estate industry. Traditional (Web2) Real Estates are known to be illiquid, expensive, and vague where we think that it is time for web3 Real Estate to take over. Our NFTs carry a special trait: Ownership to our investments (metaverse or off-chain assets). Furthermore, they will be able to stake their NFT on the IOTEX blockchain while mining token from the Ethereum Network.
SMTX Token
Institutional finance has always been the foundation of our economic growth, and a paradigm shift towards blockchain is unavoidable. SUMOTEX always believes that the stagnated institutional finance and real estate sector is poised to be disrupted with our Web3 solution, the AssetFi protocol. Our protocol is based on the tokenization of off-chain assets ( Real estates, bonds, funds, company shares).
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OhNoRipple via https://www.ohnocrypto.com/ @Press Release, @Khareem Sudlow