SAFT Verification
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is suitable for institution to use the SAFT agreement signed with the project team, to create NFTs to express the quantity and vesting models of the token that has not been obtained, and sell it on the market. In this flow, Decentralized Verification will be particularly important, because the token cannot be controlled at this time.
The project team acknowledges the behavior of the institution in advance and use the token creator's wallet to verify the SAFT and its smart contract to reduce the risk to the lowest. The decentralized verification allows the Institution (NFT creator) to upload its SAFT agreement in pdf format to the blockchain and get a hash, while the Project Team (token creator) also then uploads its SAFT agreement and get a hash. Once these two hashes are matched as identical documents, in particular, the status of NFT Smart Contract Addresses and the NFTs will be moved to Verified.
The Verification is processed by smart contracts on-chain.
Through such a decentralized verification, the buyer's risk can be greatly reduced. The only risk is that the project team does not transfer the token into the smart contract according to the SAFT Verification. In addition, the smart contract can smoothly distribute the token shares listed on the SAFT agreement held by the institution to the NFT holders in accordance with the set vesting model.
