Tokens are "things serving as a visible or tangible representation of a fact, event, object, feeling" [Oxford English Dictionary, 2009 Edition]. Digital tokens are nothing else but a string of bits. Data containers, and sometimes an embedded set of instructions, making such representation possible through a computer system.
What would they be used for? Tokenization. What is that? It is the act of using tokens for representing (and possibly enhancing) property or contractual rights into fungible or non-fungible instruments. The versatility of digital media, however, means that digital tokens can also be easily used to deconstruct such rights, or to natively create some.
Representation is simply the replication of any transactional or other features inherent to existing property or contracts. What about deconstruction? Also known as fractionalization, it is the act of breaking down any rights over property or contracts such that several unrelated parties can share in, and mitigate the risk of, ownership. And creation? In a digital platform, those are rights that originate in digital form and are only embodied in such digital instruments (they are digitally-native).
Why polymorphic? It means no two ARES tokens need to be the same, nor need to stay the same over time. Such flexibility makes ARES unique for representing, deconstructing or creating (possibly evolving) rights of an absolute nature (property) or a relative nature (contractual claims). Plus allowing for different asset classes to be incorporated simultaneously, in the same token. That makes ARES tokens technically interchangeable with each other even if their underlying properties are completely different. By design.
ARES is set to become the foundation for a new and future-proof standard. Please visit our ARES site for more information.