Olyn developed and maintains a web3 framework which allows asset tokenization in various forms, from a simple frictionless approach of web3 to more complete and sophisticated options to fully handle all variables interacting with the underlying blockchain infrastructure.
Olyn API service allows managing this level of complexity when issuing a token for an asset to an underlying owner, from just pointing to the destination, to manually crafting or completing a partially initialized transaction.
Asset tokens are deployed in public available chains, allowing to validate the existence of the tokens in each chain without the need to rely on Olyn tools. Although the Olyn Asset framework is designed to provide this level of transparency for each individual token it does not give away sensible data that can be exposed, retrieved or scraped by other external parties without an affiliation to the developer business.
The current stage of web3 tokenization protocols is dispersed and without a clear roadmap, furthermore, a lot of current similar services are not optimized for scale or purpose. on-chain data is majorly public as all of them rely upon standard protocols such as ERC-721 or ERC-1155, they are only optimized to be displayed in all wallets without regard to the service or purpose of the token. Similar protocols have challenges when trying to upgrade features or modify the underlying protocol as new features are added, as they are copy-pasted from already existing source codes and sometimes not thought through. Olyn provides the developer with an easy and automatic upgradeability feature so already issued tokens can have the same features as recently tokenized assets.
Olyn Asset Framework has been built from the ground up, to provide customizability on the registry itself, and privacy layers without sacrificing external validation of the blockchain itself.
Each asset token is unique and cost-optimized to guarantee scalability when dealing with big volumes and allows for various individual rules for each asset token that brings another layer of interaction into the asset itself.
Lastly, asset tokenization is performed via an API call, allowing the developer to set on the request various parameters (or in the registry template creation as well) on how the token will be deployed and how it will behave in the environment.
Olyn asset Protocol is feature-rich and customizable by the developer, allowing to set different rules at initialization, therefore each token has only the needed embedded logic and information.
This framework allows each use case of the developers to have a token which behaves as they want. And at the same time able to be composable with other business tokens if wanted, as all of them are generated from the same protocol.
It's worth to mentions, as this Protocol has been built from the grown-up unless specifically built by the wallet provides the token will not be visible in the frontend interfaces of the wallets. Olyn offers tools out-of-the-box tools to search, interact and display token data properly and private through wallet interfaces.
Updated over 1 year ago