As AssetStream is а decentralized blockchain-based platform, the money used on it is in the form of cryptocurrency. This automatically creates the necessity for the platform to launch a specific cryptocurrency to serve the needs of borrowers and lenders. AssetStream has created the AST token to fulfil these needs, and below you can see why this token is so important to the platform.
What is the AST token?
The AST, or the AssetStream token, is the virtual currency used on the AssetStream platform.
It replaces physical cash and traditional currencies, in order to allow the use of benefits like smart contracts and lightning-fast transaction processing on the platform.
AST is a token like any other, and you will be able to purchase it in exchange for other cryptocurrencies like Bitcoin and Ethereum, or fiat currency like dollars.
Why is AST important?
AssetStream has developed a platform, which will grant financial access to many unbanked and underbanked people. One of the essential advantages of the platform is that there is no intermediary, which significantly reduces the costs to provide this financial service; thus more people will have access to it.
However, just as there’s no smoke without fire, AssetStream would not be able to work properly without the AST token, as the whole platform is based on blockchain. In order to benefit from the smart contracts and faster transaction times blockchain offers, the system has to run on cryptocurrency, therefore it needs the AST token.
This is why, AST is actually a valuable core element of the platform, just as much as it carries monetary value. Without it, the platform wouldn’t be able to offer quality services and fulfill their mission.
What is AST worth on the platform and on the markets?
Values on the platform and markets vary because AssetStream uses the token only as transaction methods, while the outside market values AST as a cryptocurrency of its own.
The market value of AST will fluctuate based on numerous factors, mainly supply and demand. While the AST token will have a fixed value when used in the AssetStream platform, in order to ensure the stability of the system, when it is purchased on secondary markets, its value will be solely determined by the supply and demand on markets.
According to the AssetStream Whitepaper, AST will have a fixed value of 0.01 USD when bought and used on the platform. This fixed price is intentionally set so that everyone purchasing and receiving funds via the platform has a unified currency to do that. The AST token will also promote security and stability on the platform, as it is going to remain an unchangeable variable when you lend or borrow on AssetStream.
AST is not only important for financial transactions, but for AssetStream’s mission
AST is one of the revolutionary elements AssetStream introduces to the platform, so don’t waste any more time and get to buying some tokens!