First Fee Pool Distribution Up-Date
Smartlands is pleased to confirm that during November, we carried out a number of technical deals over our platform to ensure that everything is working to plan at the technical level. Some minor adjustments were identified, and these have been rectified, meaning that the system is now ready to operate as designed.
The technical deals during all our testing period, of course, generated fees to Smartlands, and as per our commitment to token holders, 33% of this will be due to be distributed to qualifying token holders. This is the final step in our complete stress testing of the Smartlands platform and is arguably the most important aspect of the testing as it relates directly to the income token holders will receive by holding and staking SLT. In order to ensure that all aspects of the feel pool distribution operate fully automatically as planned, we have decided to move the first fee pool distribution payment from the 1st December to the 10th December for the first payment only. Future fee pool distribution payments after December will be made on the 1st of each month to qualifying token holders based upon revenue received in the previous month.
The initial fee pool distribution payment due on the 10th December will not be large as it is based upon fees received from technical listings during November; however, it will allow the formation of the payment protocols to reward all qualifying token holders moving forward and will demonstrate our commitment on premium sharing with our token holders.
Moving forward and looking at Q1 of 2022, we have an impressive pipeline of projects to be listed on the Smartlands platform. First among these is a Euro 5 mln minority stake in a commercial property which we expect to have fully sold during the first quarter generating some useful fees for fee pool distribution to token holders. In addition, we have further real estate listings and offerings from the tech sector to add to the platform during Q1. All things considered, there is an exciting pipeline of projects to come and we look forward to generating a solid stream of revenue as these deals are closed and fees are accrued by Smartlands.
On other news, the Smartlands application for a brokerage licence within Ukraine remains on target, and we expect this to be issued during December.
During December, we plan to inform the market of our outline schedule of ICOs on the Smartlands platform that are planned for Q1 of 2022 in order that token holders can get a feel for the amount of revenue that will be available for the fee pool distribution.
With this announcement, then, we are confirming that the system construction and stress testing are now complete and that first fees have already been generated by the Smartlands platform on the back of technical listings for distribution on 10th December. Next year, 2022, will be an excellent year for Smartlands as we move from a technical to an operational focus, and the revenue starts rolling in as our program of platform ICOs gets underway.
SLT Wallet is not only a Smartlands Platform-specific tool but a multifunctional toolbox for any trader on the Stellar blockchain. It’s designed to accommodate the most demanding trader experience conveniently and intuitively, with the most relevant information always at hand. Moreover, SLT Wallet will assist users in selecting between all investment opportunities provided by Smartlands Platform.
Smartlands is a digital investments platform with a proven use case for tokenizing shares in real assets. Having its mission of tokenizing the real economy and bringing all its benefits to a broad audience, Smartlands launched an alternative investments project in Ukraine. The SLT is a cryptocurrency of the Smartlands ecosystem. It is limited to a maximum of 7.1mn tokens and runs on the Stellar open-source network.