RE: 170m in SYME account...!? Divvyup - Comments?18 Apr 2023 23:33
Phase Two
Phase Two involves the creation of an "Inventory Monetisation Platform 3.0" with an expected roadmap of Web3 features, including the issuance of NFTs, digital ownership and business-to-business (B2B) marketplaces, decentralised finance ("DeFi") and, overall, a governance protocol.
Phase Two comprises:
- the assessment of an innovative process designed to link digital assets to the real economy. The Company is working with VeChain to improve automation between the Platform and the VeChainThor blockchain services;
- the opportunity to involve multiple liquidity providers to deploy new IM transactions (crypto asset managers and direct investors through liquidity pools partnerships). In this regard, SYME is compiling, from its global pipeline, a portfolio of potential Client Companies up to approximately US$50 million of inventory to be monetised, reflecting the commitment budgeted by VeChain and, the opportunity to raise additional capital from the VeChain community and other crypto/ digital assets investors. SYME has also approached the market-leading Centrifuge[3] and MakerDAO[4] communities to explore potential funding of IM transactions through the Centrifuge protocol and to access liquidity through DeFi; and
- the creation of a governance protocol. The Company produced, with the support of its blockchain advisers, a strategic paper regarding the launch of governance and utility token which is expected to boost the investments into IM transactions performed via the Web3 route.
SYME and VeChain intend to make further announcements regarding the progress of Phase Two in due course.
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