Ironlight is bringing Tokenization to TradFi. This is done by creating a fully regulated secondary trading venue for tokenized Real World Assets (RWA). The RWAs are private market funds, company equity and real estate. Ironlight is different from most other players in 3 major aspects:

1. Liquidity: Ironlight has secured 4 major institutions to backstop trading. Additionally, RIAs & Wealth Advisors from the major banks are market participants.

2. Sponsor Access Model: The Alternative Trading System (ATS) allows for trading & settling between anyone in the US financial system not just within it’s own network. This allows for dramatically more participants and thus facilitates liquidity.

3. Institutional Grade Technology: Built from the ground up, the technology can process 2 million messages per second at 20 microseconds per transaction. Additionally, built under Reg SCI. The technology was built at the same standard Wall Street expects for Public Market ATS/Exchanges.

Ironlight was created to bridge the gap between TradFi and Defi. It stemmed from the belief that the winner of the space will be the first who can get widespread adoption of the TradFi market. To do that:

• TradFi needs to be met where they currently are and given an easy path to adopt Defi.

• Ironlight has made strategic decisions to conform all technology to current TradFi standards (ex. Fix protocol and Sponsored Access Models).

• Add on blockchain support for numerous implementations like settlement where the biggest benefit of blockchain is realized.

Additionally, there is a massive pain point in private market liquidity. This is due to:

• Companies staying private longer

• The legal overhead in the secondary market

• Challenges in finding buyers.

By tokenizing these assets, they become tradable in a standardized method. This extra liquidity has the added benefit of increasing the value of these assets by removing the illiquidity discount.

Leveraging Cardano makes complete sense. One of the core design principles of Cardano was interoperability with TradFi. As Ironlight pushes TradFi into the Defi concepts, this becomes more important. Issuing directly onto the ledger solves:

• Fastest settlement time (T+0)

• Automates issuance, compliance, dividend payments, reducing reliance on intermediaries which will lower costs

• Smart contracts can enforce compliance at the protocol level

• Off-chain metadata and the Atala PRISM Identity Layer will be crucial for the future of the capital markets.

• Increased accessibility through fractionalization

Ironlight believes that we live in the world the way it is today, while helping create the world of tomorrow.