{"id":36921,"date":"2019-03-04T03:46:41","date_gmt":"2019-03-04T03:46:41","guid":{"rendered":"https:\/\/cryptonews.com\/tr\/?p=36921"},"modified":"2022-02-10T14:03:10","modified_gmt":"2022-02-10T14:03:10","slug":"sto-nedir","status":"publish","type":"guides","link":"https:\/\/cryptonews.com\/tr\/guides\/sto-nedir\/","title":{"rendered":"Security Token Offerings (STO\u2019lar) Nedir?"},"content":{"rendered":"

Token evriminde bir sonraki ad\u0131m olarak g\u00f6r\u00fclen Security token offering (Menkul K\u0131ymet Token Teklifleri (STO\u2019lar) nedir ve neden \u00f6nemlidir?<\/p>

\"Security\r\n
<\/figcaption>\r\n<\/figure>

Token evriminde bir sonraki ad\u0131m olarak g\u00f6r\u00fclen Security token offering (Menkul K\u0131ymet Token Teklifleri (STO\u2019lar) nedir ve neden \u00f6nemlidir?<\/p>

STO Nedir?<\/h2><\/span>

STO, menkul k\u0131ymet tokenlerini temsil eder. Yat\u0131r\u0131mc\u0131n\u0131n yat\u0131r\u0131mlar\u0131n\u0131 temsil eden coinler ve tokenler i\u00e7in para al\u0131\u015fveri\u015finde bulundu\u011fu ICO\u2019ya benzer. Ancak, ICO\u2019lardan farkl\u0131 olarak, STO\u2019lar bunu bir ad\u0131m ileri g\u00f6t\u00fcrerek menkul k\u0131ymetler stat\u00fcs\u00fcnde tokenler da\u011f\u0131t\u0131yor. Bunlar, dayanak varl\u0131\u011fa hisse senetleri, gayri menkul yat\u0131r\u0131m ortakl\u0131klar\u0131 ve fonlar gibi ba\u011flan\u0131rlar.<\/p>

Bu nedenle, STO\u2019lar menkul k\u0131ymetler da\u011f\u0131t\u0131rlar. Bunlar de\u011fi\u015ftirilebilir, sat\u0131labilir, para k\u0131ymeti olan tokenlerdir. STO\u2019lar d\u00fczenli token borsalar\u0131nda i\u015flem g\u00f6rmezler. STO ticareti yapmak isteyen borsalar\u0131n token listeleri, veri payla\u015f\u0131m\u0131 ve yat\u0131r\u0131mc\u0131 kat\u0131l\u0131m prosed\u00fcrlerine uymak zorundad\u0131r.<\/p>

STO\u2019nun Faydalar\u0131 Nelerdir?<\/h2><\/span>

2017-2018 ICO \u00e7\u0131lg\u0131nl\u0131\u011f\u0131nda, bir\u00e7ok token ihra\u00e7\u00e7\u0131s\u0131 yat\u0131r\u0131mc\u0131lara, ekonomik hak ve de\u011ferler olmadan y\u0131\u011f\u0131nla token satt\u0131. STO\u2019lar normal token sat\u0131\u015flar\u0131na uyumlu alternatiflerdir. Yat\u0131r\u0131mc\u0131lara e\u015fitsizlikleri ortadan kald\u0131rmak i\u00e7in temett\u00fc hakk\u0131 gibi haklar sunarlar.<\/p>

STO tokenleri, ihra\u00e7\u00e7\u0131lar i\u00e7in de faydal\u0131d\u0131r. Tokenlerin i\u00e7sel de\u011feri olmadan yay\u0131nlanmas\u0131na gerek yoktur ve token ihrac\u0131yla ilgili a\u00e7\u0131k\u00e7a d\u00fczenlenmi\u015f prosed\u00fcrleri vard\u0131r.<\/p>

STO Tokenlerinin Sa\u011flad\u0131\u011f\u0131 Di\u011fer Avantajlar:<\/p>

    \r\n
  • G\u00fcvenilirlik<\/b>. ICO\u2019nun tam anlam\u0131yla kaos oldu\u011funu s\u00f6yleyebiliriz. Bir\u00e7ok insan doland\u0131r\u0131ld\u0131, bir\u00e7ok proje vaatlerini yerine getirmedi ve bir\u00e7ok yat\u0131r\u0131mc\u0131 ellerindeki i\u015fe yaramaz tokenlerle kald\u0131lar. Buna kar\u015f\u0131l\u0131k, STO\u2019lar d\u00fczenlemelerin d\u0131\u015f\u0131na \u00e7\u0131kmayarak blockchain ve kripto para birimlerinin g\u00fcvenirlili\u011fini kaybetmemesini sa\u011fl\u0131yor.<\/li>\r\n
  • Geleneksel finans\u0131n iyile\u015ftirilmesi<\/b>. Geleneksel menkul k\u0131ymetler eski alt yap\u0131lar\u0131 ve arac\u0131lar nedeniyle yava\u015f ve pahal\u0131d\u0131r. STO tokenleri hizmetleri daha d\u00fc\u015f\u00fck maliyetler sayesinde kolayla\u015ft\u0131r\u0131r.<\/li>\r\n
  • Programlanabilirlik<\/b>. STO tokenleri programlanabilir ve ak\u0131ll\u0131 s\u00f6zle\u015fmeler taraf\u0131ndan zorlanabilir.<\/li>\r\n
  • Serbest piyasa<\/b>. S\u0131n\u0131rlar ve yerel d\u00fczenlemeler STO tokenlerini s\u0131n\u0131rlamaz.<\/li>\r\n
  • Bir\u00e7ok yat\u0131r\u0131mc\u0131<\/b>. Geleneksel g\u00fcvenlik anla\u015fmalar\u0131n\u0131n aksine, STO tokenler internet \u00fczerindeki herkese a\u00e7\u0131kt\u0131r.<\/li>\r\n
  • Azalt\u0131lm\u0131\u015f kurumsal manip\u00fclasyon<\/b>. Daha az arac\u0131ya sahip serbest ve a\u00e7\u0131k pazar.<\/li>\r\n
  • Daha fazla likidite<\/b>. STO tokenleri \u00f6zel g\u00fcvenlik borsalar\u0131nda i\u015flem g\u00f6rerek, yat\u0131r\u0131mc\u0131lar\u0131n varl\u0131klar\u0131n\u0131 likidite etmelerini sa\u011flayacak.<\/li>\r\n<\/ul>

    En \u00f6nemlisi, STO\u2019lar \u015firketlerin payda\u015flar edinmesine izin veriyor.<\/p>

    STO\u2019lar geleneksel menkul k\u0131ymetleri geli\u015ftirme potansiyeline sahip oldu\u011fu i\u00e7in, ICO\u2019lar\u0131n aksine bir geli\u015fme olarak kabul edilir.<\/p>

    Tokenin G\u00fcvenli Olup Olmad\u0131\u011f\u0131 Nas\u0131l Belirlenir?<\/h2><\/span>
    \"The\r\n
    Source: Congressional Research Service<\/figcaption>\r\n<\/figure>

    Security token\u2019leri utility token\u2019lerden ay\u0131rman\u0131n en yayg\u0131n y\u00f6ntemi Howey Test uygulamas\u0131d\u0131r. Howey Test ismi, Florida Howey Company\u2019nin yer ald\u0131\u011f\u0131 1946 ABD Y\u00fcksek Mahkemesi davas\u0131ndan geliyor. Dava, \u015firketin m\u00fclk\u00fcn\u00fcn yar\u0131s\u0131n\u0131 kar etmek amac\u0131yla spek\u00fclat\u00f6rlere kiralamaya \u00e7al\u0131\u015fmas\u0131 ve i\u015flemlerin ABD Menkul K\u0131ymetler ve Borsa Komisyonu (SEC) taraf\u0131ndan onaylanmamas\u0131na dayan\u0131yor. Dava yarg\u0131taya geldi\u011finde e\u015fsiz oldu\u011fu d\u00fc\u015f\u00fcn\u00fclm\u00fc\u015f ve g\u00fcvenlikle alakal\u0131 de\u011ferlendirme yapmak amac\u0131yla Howey Test\u2019i uygulanm\u0131\u015ft\u0131r.<\/p>

    Bu teste g\u00f6re, bir i\u015flemin g\u00fcvenli olarak kabul edilmesi i\u00e7in a\u015fa\u011f\u0131daki kriterleri sa\u011flamas\u0131 gerekiyor:<\/p>

      \r\n
    1. Bu para bir yat\u0131r\u0131md\u0131r.<\/li>\r\n
    2. Yat\u0131r\u0131m ortak bir giri\u015fimdir.<\/li>\r\n
    3. Destekleyicilerin ya da \u00fc\u00e7\u00fcnc\u00fc \u015fah\u0131slar\u0131n \u00e7al\u0131\u015fmalar\u0131ndan kar beklentisi vard\u0131r.<\/li>\r\n<\/ol>

      Howey testini ge\u00e7en bir token, g\u00fcvenli token olarak de\u011ferlendiriliyor.<\/p>

      Menkul K\u0131ymet Tokenleri (security token) ile Tokenle\u015ftirilmi\u015f Menkul K\u0131ymetler (tokenized security) Aras\u0131ndaki Fark Nedir?<\/h2><\/span>

      Bu iki kavram\u0131 birbiriyle kar\u0131\u015ft\u0131rmak olduk\u00e7a kolayd\u0131r. \u0130ki kavram aras\u0131ndaki temal fark \u015fudur: security tokenler da\u011f\u0131t\u0131lm\u0131\u015f defter \u00fczerinde i\u015flem g\u00f6ren menkul k\u0131ymetlerken; tokenle\u015ftirilmi\u015f menkul k\u0131ymetler, mevcut finanslar varl\u0131klar\u0131n token ile temsilidir. Benzer gibi g\u00f6r\u00fcnseler de farkl\u0131 \u015fekillerde ihra\u00e7 edilirler.<\/p>

      STO\u2019lar\u0131n K\u0131sa Tarihi<\/h2><\/span>

      \u0130lk STO 10 Nisan 2017 tarihinde Blockchain Capital (BCAP) taraf\u0131ndan ba\u015flat\u0131lm\u0131\u015f ve STO bir g\u00fcnde 10.000.000 dolar toplam\u0131\u015ft\u0131r. STO, 2018 ve 2019 tarihleri boyunca, bug\u00fcne kadar \u00e7eki\u015f kazanmaya devam etmi\u015ftir.<\/p>

      \"STO'lar\u0131n\r\n
      Kaynak: Security Token Overview Series \/ Smith+Crown<\/figcaption>\r\n<\/figure>

      STO Lansman Platformlar\u0131<\/h2><\/span>

      \u0130\u015fletmelerin STO\u2019lar\u0131n\u0131 Ba\u015flatmas\u0131nda Onlara Yard\u0131mc\u0131 Olan Projeler \u015eunlard\u0131r:<\/p>

        \r\n
      • Polymath (POLY)<\/li>\r\n
      • Securitize<\/li>\r\n
      • Harbor<\/li>\r\n
      • Swarm<\/li>\r\n<\/ul>

        Bu projeler genellikle, \u015firketlere token ihra\u00e7lar\u0131 ve ilgili di\u011fer konularda yard\u0131mc\u0131 oluyorlar.<\/p>

        Bir STO\u2019ya Kat\u0131labilir Misiniz?<\/h2><\/span>

        Amerika Birle\u015fik Devletleri\u2019nde STO\u2019lar sadece akredite yat\u0131r\u0131mc\u0131lar i\u00e7indir. Ancak, ABD d\u0131\u015f\u0131nda ya\u015fayanlar i\u00e7in akredite yat\u0131r\u0131mc\u0131 kural\u0131 ge\u00e7erli de\u011fildir ve \u00e7o\u011fu STO\u2019ya kat\u0131labilirsiniz. Spesifik k\u0131s\u0131tlamalara kar\u015f\u0131, yat\u0131r\u0131m yapmadan \u00f6nce bilgi edininiz.<\/p>","protected":false},"excerpt":{"rendered":"

        Token evriminde bir sonraki ad\u0131m olarak g\u00f6r\u00fclen Security token offering (Menkul K\u0131ymet Token Teklifleri (STO\u2019lar) nedir ve neden \u00f6nemlidir?Token evriminde bir sonraki ad\u0131m olarak g\u00f6r\u00fclen Security token offering (Menkul K\u0131ymet Token Teklifleri (STO\u2019lar) nedir ve neden \u00f6nemlidir?STO Nedir?STO, menkul k\u0131ymet tokenlerini temsil eder. Yat\u0131r\u0131mc\u0131n\u0131n yat\u0131r\u0131mlar\u0131n\u0131 temsil eden coinler ve tokenler i\u00e7in para al\u0131\u015fveri\u015finde bulundu\u011fu ICO\u2019ya […]<\/p>\n","protected":false},"author":1,"featured_media":0,"template":"","format":"standard","tags":[],"guide_categories":[18],"editors":[],"class_list":["post-36921","guides","type-guides","status-publish","format-standard","hentry","guide_categories-icos"],"acf":[],"yoast_head":"\nSecurity Token Offerings (STO\u2019lar) Nedir?<\/title>\n<meta name=\"description\" content=\"Token evriminde bir sonraki ad\u0131m olarak g\u00f6r\u00fclen Security token offering (Menkul K\u0131ymet Token Teklifleri (STO\u2019lar) nedir ve neden \u00f6nemlidir?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.com\/tr\/guides\/sto-nedir\/\" \/>\n<meta property=\"og:locale\" content=\"tr_TR\" \/>\n<meta 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