Universal Wallet - Development Update 01

Dear LTO Community,

As promised, I am following up our Wallet Roadmap with regular technical updates to show you howe we are progressing and where the wallet development is at.

We have made HUGE progress in the last two weeks since the Roadmap. Several key pieces of technology which we have been developing are nearing not just completion, but integration also.

The way that development on this project works is that, we first have to build any major backend functions that are required. This is then followed up by building a front end to those functions in to the SDK wallet. Then Rocketlab guys will integrate our SDK code into the iOS and Android versions of the wallet.

Relay Server:

The most crucial thing we have been working on is the Relay Server. This serves as the backbone for all of the major utilities of the Ownables. An Ownable is not so useful if you can't send it to someone from the wallet. The transfer functions of the relay server are also used by the Bridge (the Ownable must be sent to the Bridge so that it can verify it before bridging) and also when an Ownable is created, it must be able to be sent to the wallet of the first owner.

This is all done via the Relay Server.

The Relay Server code is complete and we have made updates to the required libraries. We also had to update the LTO Network libraries as well as some of the calls from the Relay Server were not responding correctly. The changes here need to be merged across the various code branches and then this aspect will be considered complete. We expect the Relay Server to be finalised by early to mid next week.

Ownable Generator:

The Ownables Generator is an app that lets you create an Ownable without any coding skills, using just a web page. This app now creates the Ownable, it mints an NFT on EVM chains which is married to your new Ownable and then collects payment in $LTO for the gas fees and TX fees.

All that is required now is to connect it to the Relay Server so it sends the Ownable to the person who asked for it to be made. Once this is done, we will need to test and see if any issues come up.

Ownables Bridge: The bridge allows you to lock your Ownable and release an NFT on EVM chains so that the Ownable can be traded on NFT marketplaces. (Once the trading happens, you can bring the NFT back to the bridge and redeem your Ownable).

The backend for this has been complete for some time, but the front end needs work. So far we have the Ownable locking function done. We now need to wait for the Relay Server to be complete so the wallet can send the Ownable to the bridge for verification.

Transfer Ownables:

When the Relay Server is done also, the button that allows you to send an Ownable from one person to another from the wallet will also be able to be completed.

General: The Rocketlab guys are going to let me know when the next sprint will be done at their end. Their next spring will bring all the management functionality to the Ownables (sorting, making groups/collections/filtering etc) as well as integrating our Bridge UI and the code we will deliver, including the Transfer Ownables function.

We will do an assessment early next week to see what other tasks are remaining to be done and re-evaluate from there.

I will provide another community update in around 2 weeks.

Regards,

LTO Team

Journal
Analyst Shares 12 RWA Cryptocurrencies Accumulated By BlackRock

Vignesh Karunanidhi
March 29, 2024

The world of finance is bracing for a seismic shift as the tokenization of real-world assets (RWAs) gains unprecedented momentum. Recently, industry giants BlackRock and Coinbase revealed their plans to lead this revolution, acknowledging the immense potential of the RWA market, predicted to reach a staggering $16 trillion valuation by 2030.
BlackRock’s Tokenized Fund: A Game-Changer
In a groundbreaking move, BlackRock announced the launch of its first tokenized fund on the Ethereum blockchain. This decision not only solidifies BlackRock’s commitment to embracing cryptocurrency but also sets the stage for widespread adoption of tokenization across the financial sector.
Coinbase: The Chosen Infrastructure Provider
BlackRock has selected Coinbase, the largest centralized cryptocurrency exchange in the United States, as the primary infrastructure provider for its RWA endeavors. This strategic partnership positions both entities at the forefront of the RWA market, unlocking significant upside potential as the demand for tokenized assets continues to surge.
Uncovering BlackRock’s RWA Holdings
Analyst Ardizor conducted an in-depth analysis of BlackRock’s holdings using ArkhamIntel to identify the most promising RWA projects poised for success in 2024. The findings revealed a diverse portfolio of 12 tokens that BlackRock has been actively accumulating, each representing a unique value proposition within the RWA ecosystem.
The Top 12 RWA Tokens on BlackRock’s Radar
Polytrade ($TRADE): A decentralized protocol revolutionizing receivables financing.Polymesh ($POLYX): An institutional-grade permissioned blockchain built for regulated assets.Realio ($RIO): A blockchain-based platform for digital securities and cryptoassets.Boson Protocol ($BOSON): Enabling the tokenization and trade of physical items as redeemable NFTs.LTO Network ($LTO ): Bridging the gap between real-world and digital ownership.Xend Finance ($RWA): Introducing the tokenization of real estate, art, stocks, and intellectual properties.Hathor Network ($HTR): A blockchain technology offering scalability, security, and interoperability.Dusk ($DUSK): An L1 blockchain designed for institutional-level privacy and compliance.MANTRA ($OM): A security RWA L1 blockchain for permissionless apps with regulatory compliance.LandX ($LNDX): The first global decentralized platform for investing in farmland and agricultural commodities.Nexera ($NXRA): Integrating blockchain technology for streamlined digital, financial, and RWA management.Chintai Nexus ($CHEX): Offering a comprehensive solution for responsible digital assets and utility tokens.
As the RWA tokenization tsunami continues to gain momentum, the strategic partnership between BlackRock and Coinbase will undoubtedly shape the future of finance. By leveraging their combined expertise and resources, these industry titans are poised to drive widespread adoption and unlock new opportunities within the RWA market.
Investors and market participants alike will closely monitor the performance and impact of BlackRock’s tokenized fund, as well as the growth trajectories of the identified RWA projects. The next few years promise to be a transformative period for the financia sector, as tokenization redefines the way we perceive and interact with real-world assets.
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