Security Token Market Research From Rotterdam School of Management, Erasmus University
18 Sep 2020 — The recent scholastic paper from Rotterdam School of Management, Erasmus University (Dan Liebau, Thomas Lambert and Peter Roosenboom) discusses the two main set of findings that matter to the success of #SecurityToken Offering #STO.
1. Issuer and offering characteristics
– Voluntary information disclosed by issuers, such as source code available on a GitHub repository, is positively associated with the amount raised
– Telegram does not positively influenced the amount raised
– Setting high target amounts unlikely to reduce the chance of success.
– Use of a softcap and the duration of the STO, negatively correlate with amount raised
2. Corporate governance
– Unbundling voting rights and cashflow rights negatively correlates with amount raised
Native #DigitalSecurities (NDS), the next gen of securities are likely to come as digital natives on the blockchain, that is programmable securities.
Accordingly, NDS easily and cheaply enables:
– on-chain amendments and viewed by stakeholders, increasing in turn transparency
– both digital creation of investment products with any combination of corporate actions and securities product features
– the option of a protocol that is fork resistant when issuing, to manage related risks
Full paper: https://lnkd.in/gHwE2mF