Auditchain’s AUDT token now supported on BitMart global exchange
AUDT – the native token of decentralised accounting platform developer Auditchain Labs AG – has today gone live on global cryptocurrency exchange BitMart.
AUDT is the staking, settlement and governance utility on the Auditchain Protocol with a supply cap determined through governance by the community of AUDT holders. AUDT is needed to fulfil staking requirements for Pacioli Node operators which perform financial statement and Process Control NFT validation.
By making AUDT available to BitMart’s nine million users, the support is expected to increase the token’s liquidity, making the Auditchain Protocol more accessible to early adopters ahead of its official launch on June 8 at the Digital Accountancy Show.
Auditchain is a decentralised protocol that enables reporting entities to automatically validate whether their financial reports are accurate, complete and comply with regulatory and financial reporting standards. It leverages XBRL (eXtensible Business Reporting Language), the global standard syntax for reporting machine-readable financial and business information originally championed by Auditchain product manager Charles Hoffman, CPA.
AUDT is also used to settle the allocation of royalties between creators and validators of Process Control NFTs. Process Control NFTs automate accounting, financial reporting, audit and analysis processes on the Auditchain Protocol. Creators of Process Control NFTs update and extend the functionality of the platform by developing logic-based controls.