Tangible (TNGBL)

What is Tangible (TNGBL)?

Tangible (TNGBL) is a cryptocurrency token associated with the Tangible platform, a project focused on bringing real-world assets onto the blockchain. This involves tokenizing physical items, such as fine wines, luxury watches, and potentially other collectible or valuable assets, making them tradable and accessible within the digital realm. The goal is to bridge the gap between traditional investments and the emerging decentralized finance (DeFi) ecosystem.

By representing real-world assets as digital tokens, Tangible aims to increase liquidity, transparency, and accessibility for these typically illiquid assets. Tokenization allows for fractional ownership, enabling more people to invest in high-value items that would otherwise be out of reach. The platform also strives to ensure the authenticity and provenance of the tokenized assets.

How Does Tangible (TNGBL) Work?

Tangible leverages blockchain technology to create and manage digital representations of physical assets. The core process involves verifying the authenticity and value of a real-world asset and then creating a corresponding non-fungible token (NFT) or fungible token (FT) on a blockchain, typically Ethereum or a compatible network. This token represents ownership or a fractional share of the asset.

The physical asset is then often stored in a secure vault or facility, ensuring its safety and preserving its condition. Tangible implements systems for auditing and verification to maintain the integrity of the tokenized assets. These audits provide transparency and build trust among users of the platform.

Smart contracts are used to govern the tokenized assets, enabling automated processes for trading, ownership transfer, and potentially even fractionalization and redemption. These smart contracts also facilitate the integration of the tokens into the broader DeFi ecosystem, allowing users to use their tokenized assets as collateral or participate in other decentralized financial applications.

Tangible (TNGBL) Key Features and Technology

One of Tangible’s key features is its focus on verifiable asset authenticity and provenance. The platform utilizes methods such as expert appraisals and secure storage facilities to ensure the quality and authenticity of the tokenized assets. This instills confidence in the value and legitimacy of the tokens.

Tangible employs a robust system for token management and security, utilizing features like multi-signature wallets and audit trails to protect user funds and assets. Smart contracts are designed to be secure and auditable, providing a transparent and tamper-proof method of governing the tokenized assets. The platform also emphasizes interoperability with other DeFi protocols and applications.

Fractional ownership is another major feature. This allows for more people to participate in owning and trading high-value assets. Tangible aims to improve liquidity by making these assets more easily traded on decentralized exchanges (DEXs) and other platforms.

What is Tangible (TNGBL) Used For?

The primary use case for TNGBL is to facilitate the tokenization and trading of real-world assets on the Tangible platform. Users can purchase, sell, and trade tokenized representations of fine wines, luxury watches, and other valuable collectibles. This provides exposure to these assets without the complexities associated with physical ownership.

Token holders can also utilize their TNGBL-backed assets within the DeFi ecosystem. This involves using the tokens as collateral for loans or participating in yield farming and other decentralized financial activities. This expands the utility of real-world assets beyond simple ownership and storage.

The Tangible platform provides increased access to assets that were once out of the range of regular investors. The transparency offered by blockchain creates a more equitable market for assets. The reduced barriers to entry may lead to broader participation and wider adoption of tangible assets in decentralized finance.

How Do You Buy Tangible (TNGBL)?

Buying Tangible (TNGBL) typically involves purchasing it on a cryptocurrency exchange that lists the token. This process usually requires creating an account on the exchange, completing any necessary identity verification steps (KYC), and depositing funds into your account, often in the form of another cryptocurrency like Ethereum (ETH) or a stablecoin such as USDT.

Once your account is funded, you can navigate to the trading pair for TNGBL (e.g., TNGBL/ETH) and place an order to buy the token. Exchanges like PancakeSwap might be an option due to Tangible’s presence on the Binance Smart Chain (BSC). Always verify the exchange’s security measures and liquidity before making a purchase.

Be cautious of potential scams and always use official channels to verify the legitimacy of the token and the exchange. Research the exchange’s reputation and user reviews to ensure a safe trading experience. Make sure to understand the risks associated with cryptocurrency trading before investing.

How Do You Store Tangible (TNGBL)?

Storing Tangible (TNGBL) requires a compatible cryptocurrency wallet that supports the blockchain on which the token is based, most likely the Binance Smart Chain (BSC). Since TNGBL is a BEP-20 token, you’ll need a wallet that supports BEP-20 tokens.

Several options exist:

• Software Wallets (Hot Wallets): These are digital wallets that can be installed on your computer or mobile device. Examples include MetaMask, Trust Wallet, and Binance Chain Wallet. These wallets offer convenient access to your tokens but are more susceptible to online security risks.
• Hardware Wallets (Cold Wallets): These are physical devices that store your private keys offline, providing a high level of security. Examples include Ledger and Trezor. Hardware wallets are ideal for storing large amounts of cryptocurrency for the long term.
• Exchange Wallets: Storing TNGBL on the exchange where you purchased it is an option, but it’s generally not recommended for long-term storage due to the risk of exchange hacks or security breaches.

When setting up your wallet, be sure to securely store your seed phrase (recovery phrase). This phrase is essential for recovering your wallet if you lose access to your device. Never share your seed phrase with anyone, as it grants access to your funds.

Future Outlook and Analysis for Tangible (TNGBL)

The future outlook for Tangible (TNGBL) depends on the continued adoption of real-world asset tokenization and the success of the Tangible platform in building partnerships and attracting users. The potential to unlock liquidity and accessibility for previously illiquid assets is a significant advantage.

Challenges include regulatory uncertainty surrounding tokenized assets, the need for robust security measures to protect against fraud and theft, and the competition from other platforms offering similar services. The success of Tangible will also hinge on its ability to maintain the trust and confidence of users by ensuring the authenticity and security of the underlying assets.

The increasing interest in DeFi and the growing demand for alternative investments could drive further adoption of TNGBL and the Tangible platform. The platform’s ability to address the challenges mentioned above and capitalize on these trends will determine its long-term success. Tokenized assets are an emerging field and Tangible will need to adapt to the changes and continue innovation to succeed.

References

• CoinGecko
• CoinDesk