AllianceBlock, the platform which self-describes as one that “provides the bridge between traditional and digital capital markets for all participants, reflecting how traditional finance would be designed today with current technology,” has announced a token generation event (TGE), according to a press release.

This is “just weeks after AllianceBlock closed its 1,200% oversubscribed private sale, raising $0.5 million. The project now moves on to the next stage of development — coding the v1.0 platform and expanding the AllianceBlock ecosystem,” the release continues.

On top of this, the group has introduced what it calls the Prometheus Protocol, a “multi-layered architecture that serves to solve some of the biggest pain points of the traditional finance (TradFi) industry while funneling potentially trillions of dollars of traditional capital into the blossoming decentralized finance (DeFi) industry.”

Of course, the goal is to help track blockchain and DeFi development. The goal is to focus on improving compliance, security, and user experience in the decentralized finance space, the release continues.

Speaking on the matter is Matthijs deVries, the Founder and CTO of AllianceBlock, who said:

“The Token Generation Event is an important milestone for AllianceBlock and we look forward to an exciting journey ahead.”

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