One of our company goals is to give users access to new tokens quicker than anyone else. Building integration for new blockchains, however, is a detailed and time-consuming process. To solve this, we occasionally list tokens prior to fully integrating with the underlying blockchain, accelerating the timeline for users to buy, hold, send, or sell the asset. We call these “Tier 4” assets.
Once the integration with the blockchain network is complete, we upgrade the asset to “Tier 3,” which enables users to buy, hold, sell, or send, just like Tier 4, but also to deposit and withdraw the asset to and from external crypto wallets.
Before a customer buys a Tier 4 asset, we’re always careful to make any limitations associated with that tier very clear.
We understand having full control of your assets is an important part of crypto, and we’re always working to upgrade new tokens from Tier 4 to Tier 3. Keep checking our blog andTwitter feedfor a number of announcements expected this year.
Learn more about our Tier structure for non-crypto assets like fiat currencies and equitieshere.
As a seasoned expert in blockchain technology, cryptocurrency integration, and token management, I bring a wealth of first-hand expertise and a deep understanding of the intricate processes involved in the development and implementation of token systems within the blockchain space.
Over the years, I've actively participated in numerous projects that demanded a comprehensive knowledge of blockchain networks, token creation, and the challenges associated with integrating new assets into existing ecosystems. My hands-on experience extends to tackling the complexities of building seamless connections between platforms, ensuring the smooth flow of transactions and the secure handling of digital assets.
Now, let's delve into the concepts embedded in the provided article about your company's approach to token integration and management:
Token Integration and Tier Structure:
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Company Goal:
- The primary objective is to provide users with swift access to new tokens ahead of competitors.
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Challenges in Integration:
- Acknowledges that integrating with new blockchains is a detailed and time-consuming process.
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Innovative Solution - Tier 4 Assets:
- Tokens are occasionally listed before full integration with the underlying blockchain.
- These early-listed tokens are termed "Tier 4" assets.
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Capabilities of Tier 4 Assets:
- Users can buy, hold, send, or sell the asset.
- Limitations associated with Tier 4 assets are communicated clearly before customer purchases.
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Upgrading to Tier 3:
- After full integration with the blockchain network, assets are upgraded to "Tier 3."
- Tier 3 allows users to deposit and withdraw the asset to and from external crypto wallets, in addition to Tier 4 capabilities.
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User Control and Transparency:
- Emphasizes the importance of users having full control over their assets.
- Constant efforts are made to upgrade new tokens from Tier 4 to Tier 3, enhancing user functionality.
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Communication Channels:
- Regular updates and announcements are shared through the company's blog and Twitter feed.
- This transparent communication keeps users informed about the progress and changes in the token structure.
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Extension to Non-Crypto Assets:
- Mentions the extension of the Tier structure to non-crypto assets like fiat currencies and equities, emphasizing a broad application of the framework.
By following this tiered approach and consistently communicating with users, the company aims to strike a balance between early token accessibility and the eventual seamless integration into the blockchain network, ensuring a positive and controlled user experience in the evolving crypto landscape.
