The Factom Asset Token Protocol

The Factom Asset Token

DBGrow Inc. is very excited to announce the Factom Asset Token (FAT) Protocol, a project we have been building over the past six months. FAT is an open source tokenization protocol built on the Factom blockchain that is efficient, modular, composable, and extensible allowing developers to layer token functionality to meet their specific use case. FAT is built around a set of open source standards that establish a pure-data tokenization implementation directly within the efficient entry chain structure of the Factom Blockchain.

FAT is entirely language independent, can express smart contract functionality natively, and can be integrated into DAPPs and stand alone smart contracts with ease. The FAT protocol will underpin a myriad of interoperable technologies and smart contract infrastructures running on the Factom Blockchain. The pure-data interpreted structure of the Factom Asset Token protocol will allow high degrees of complexity and efficiency of these technologies.

FAT tokens are exceedingly efficient, with a cost of $0.012 to issue tokens, and $0.001 to transfer tokens. FAT thrives in data intensive applications, such as non-fungible tokens. This efficiency is further amplified by the ability to integrate them into FAT Smart Contracts that will be able to write arbitrarily large amounts of data into the blockchain for a static $0.001 per kb of data, a feat other protocols cannot match.

Over the past month DBGrow has partnered with multiple companies to work on this technology, including Canonical Ledgers LLC and Luciap Technology Inc for core FAT protocol development, and Factomize LLC to build a robust source of Entry Credits to power the FAT protocol. With their help we are targeting a first test of the FAT protocol available to the public within 2 weeks. We will also be presenting the FAT protocol at the Texas Bitcoin Conference.

DBGrow has additionally entered into a partnership with LayerTech LLC to develop the FAT ecosystem. LayerTech is building an academic, regulatory, and legal presence around the FAT ecosystem, as well as providing outreach to onboard clients into the FAT ecosystem.

The FAT protocol has already garnered interest from a variety of parties. We will be working with Sphereon, a dutch company, to create tokenized currencies with unique graph-based network properties that will be deployed in approximately 15 cities in the Netherlands for government aid. Additionally, we have received interest in creating programmable currencies and tokenizing financial instruments like bonds and options contracts on the FAT protocol from a variety of government and corporate entities.

DBGrow and LayerTech are especially excited to announce an agreement with ***, a holding company representing vast asset holdings. We will be working with them to initially tokenize *** options contracts on the Factom Asset Token protocol. They have expressed interest in tokenizing far more *** as the platform matures, and eventually capturing *** within the FAT protocol. ***, DBGrow, and LayerTech have a shared vision that extends far beyond options contracts. With the Factom Asset Token protocol we can build out asset agnostic frameworks that give us a high degree of flexibility to operate on various interoperable asset classes.

FAT is governed by the Factom Asset Token Improvement Proposal System (FATIPS), facilitating open collaboration between all members of the community in developing the FAT protocol. We are creating all standards using CC0, putting intellectual property into the public domain so that FAT can belong to every one of us. This is an open source platform, please join us in building the FAT ecosystem and help us tokenize the world’s assets on the Factom protocol.

Transactions, Smart contracts, and Tokens are all data, and Factom is the most powerful blockchain for data in existence. Factom Asset Token will be the cheapest, most modular, flexible, and extensible tokenization platform in the blockchain market.

Factom Asset Token Github:
Factom Asset Token Specifications:
Please contact Julian Fletcher-Taylor @Julianft on Discord for invitation to the FAT Discord.
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FAT can be held at the same address as FCT, so airdrops are totally possible.

Even cooler to me is the ability to have tokens that you pay interest/dividends on, and being able to issue those interest/dividend payments in a new token directly to the addresses that hold the equity/ownership tokens. This operation would be exceptionally simple and efficient.