RACE has introduced the launch of the testnet of its full-stack blockchain ecosystem designed to tokenize investable belongings, following a profitable $5 million fundraising effort. The platform goals to supply accredited and institutional traders a novel technique to interact with high-value real-world belongings (RWA) akin to plane, actual property, and artwork.
“We’ve got spent years constructing this tech stack to attach traders with probably the most high-end belongings within the international market,” Miguel Buffara, Lead Finance Engineer at RACE, acknowledged. “By empowering clientele to spend money on belongings from across the globe, tokenized on-chain, RACE is kicking off a brand new period of development in growing markets by enabling liquidity to maneuver across the globe and increase worldwide financial improvement.”
A key characteristic of the RACE ecosystem is the mixing of Decentralized Funding Committees (DICs), which include business consultants tasked with conducting due diligence on potential funding alternatives. Buffara explains to Crypto Briefing that the DIC will evaluation tokenization purposes in a radical strategy of due diligence, specializing in the viability, compliance, and worth of belongings earlier than they’re tokenized and made out there on the platform.
“If authorised, the shopper can select one in every of our good contracts templates and subject a token, NFT [non-fungible token], or no matter it’s concerning the challenge, after which the asset is tokenized contained in the RACE chain, able to be distributed to RACE Sensible Pockets customers.”
The Lead Finance Engineer at RACE states that the asset distribution fashions utilized at XP and Nubank, an asset administration agency and a neo-bank, each from Brazil. The objective is to onboard new customers by the RACE Sensible Pockets to the on-chain economic system, with no need them to know what a blockchain is. The pockets can also be freed from payment funds by utilizing fuel abstraction and has cross-chain compatibility.
“As soon as they’ve entry to those tokenized merchandise, they’ll be capable of use these merchandise on no matter infrastructure, akin to a lending protocol, they really feel comfy with. […] Placing these belongings on the blockchain leaves customers out there to get loans from any financial institution of the world.”
RACE is a layer-2 blockchain infrastructure constructed by way of OP Stack, the software program improvement package constructed by Optimism. The ecosystem is ready to beat conventional limitations within the high-value asset funding sector, akin to geographical limitations and opacity, which have traditionally restricted entry to the ultra-wealthy, simplifying using crypto by a user-friendly pockets to facilitate seamless investor onboarding.
Buffara added to Crypto Briefing that RACE is within the strategy of changing into one in every of Optimism’s Superchain networks. The Superchain is an ecosystem created by Optimism, which connects completely different blockchains constructed utilizing its OP Stack.
Krisanth Sivarajh, Director of Venture Administration at RACE, emphasised the user-centric design of the platform. “Our intention was to create infrastructure that may evolve to make every funding journey uniquely private and extremely environment friendly,” he concludes.