SUMOTEX Presale Goes Live, First Protocol To Spearhead USD 250 Mil Tvl Tokenisation Worth Of Real Estate Upon Ido

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Kuala Lumpur, Malaysia, 26th September, 2022, Chainwire

SUMOTEX is a revolutionary coin that is currently in its presale status. The project is developed on the vision of the cofounders of bringing web3 into real estate and institutional finance. Started out as an NFT project on the IoTeX blockchain, Sumotex has quickly gained traction and popularity within the ecosystem and has risen to become one of the top projects. The protocol solves one of the largest and most pressing issues that is long present in real estate and institutional finance, liquidity.

Sumotex AssetFi protocol tokenizes off-chain assets such as real estate, bonds, company shares and investment funds. Sumotex calls it (Tokenise-to-earn), where everybody will be able to tokenize their real estate/ real-world assets on the protocol where INSTANT liquidity is achieved. It is already proven as there are used case with Sumotex where they will be tokenizing a portfolio of real estate in Malaysia worth 2.5mil USD (Announcement: 

Updated term sheet pic.twitter.com/VRaOuCtR1c

The CEO of Sumotex, Dexter mentioned: “ We are finalizing the details of a mega tokenization project on our protocol worth 250mil USD. It will be a mixed development with a Development Value of 1.1 Billion USD”.

The blockchain community has never seen anything like this where liquidity is achieved almost instantaneously. In Sumotex's roadmap, Sumotex has also mentioned that they will be issuing the world's first over-collateralized Real Estate back stable coin, where asset’s owner will be able to tokenize their assets, choose to deposit their assets into