IP Library Granted Patent US 12,165,116
Granted Patent B2
US 12,165,116 · App. 17/809,442 · Granted Dec 10, 2024

Assignable token backed real-time digital asset exchange

Inventors: Trevor Filter (New York, NY); Zachary Kilgore (Brooklyn, NY); Robert Leshner (New York, NY); Tyler Robert Spalding (New York, NY)
Assignee: Flexa Inc.
G06Q20/102G06F16/27G06Q10/10G06Q20/0655G06Q20/1235G06Q20/3674G06Q20/3676G06Q20/3678G06Q20/389G06Q30/0185G06Q40/03G06Q40/04G06Q50/184H04L9/3213G06Q2220/00H04L2209/56
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Quick Facts
Patent No.
US 12,165,116
App. No.
17/809,442
Granted
Dec 10, 2024
Kind
B2
Abstract

A method includes sending, by a trader computing device, an amount of a first digital asset to a digital asset exchange device for an exchange of the amount of the first digital asset to an amount of a second digital asset. The trader computing device includes a trader wallet that stores assignable tokens. The method further includes determining to assign conditional access rights to an amount of the assignable tokens to the digital asset exchange device to back the exchange, locking the amount of the assignable tokens, and providing the conditional access rights to the amount of the assignable tokens to the digital asset exchange device. The method further includes exchanging, by the digital asset exchange device, the amount of the first digital asset to the amount of the second digital asset and sending the amount of the second digital asset to the trader computing device.

Claims (82)

1. A method comprises:

storing, by a trader computing device, assignable tokens in a structure having a partitioning scheme, wherein a first dimension of the structure having the partitioning scheme represents addresses, wherein a second dimension of the structure having the partitioning scheme represents partitions, and wherein a first address of the addresses includes a first plurality of partitions of the partitions;

sending, by the trader computing device, an amount of a first digital asset to a digital asset exchange device for a real-time digital asset-based exchange of the amount of the first digital asset to an amount of a second digital asset, wherein the digital asset exchange device facilitates digital asset exchanges between a plurality of trader computing devices;

determining, by the trader computing device, to assign conditional access rights to an amount of assignable tokens of the assignable tokens to the digital asset exchange device to back the real-time digital asset-based exchange, wherein the conditional access rights are in accordance with a set of conditions, wherein the assignment of the conditional access rights is a self-enforcing smart contract embedded in an assignable token distributed ledger technology, and wherein the self-enforcing smart contract is operable to verify one or more aspects of the real-time digital asset-based exchange;

locking, by the trader computing device and in accordance with the self-enforcing smart contract, the amount of the assignable tokens in the first address, wherein the first address is associated with the trader computing device;

transferring, by the trader computing device, the amount of assignable tokens to a first partition of the first plurality of partitions;

providing, by the trader computing device and in accordance with the self-enforcing smart contract, the conditional access rights to the amount of the assignable tokens in the first partition to the digital asset exchange device;

exchanging, by the digital asset exchange device, the amount of the first digital asset to the amount of the second digital asset, wherein the amount of the first digital asset is substantially equivalent to the amount of the second digital asset; and

sending, by the digital asset exchange device, the amount of the second digital asset to the trader computing device.

2. The method of claim 1 , wherein the set of conditions includes:

one or more release conditions; and

one or more consume conditions.

3. The method of claim 2 , wherein the self-enforcing smart contract is operable to detect a release condition of the one or more release conditions, wherein the detection of the release condition triggers a release, wherein the release includes:

unlocking, by the trader computing device in accordance with the self-enforcing smart contract, the amount of the assignable tokens stored in the first address; and

terminating, by the trader computing device in accordance with the self-enforcing smart contract, the conditional access rights to the amount of the assignable tokens to the digital asset exchange device.

4. The method of claim 2 , wherein the self-enforcing smart contract is operable to detect a consume condition of the one or more consume conditions, wherein the detection of the consume condition triggers a consume, wherein the consume includes:

rendering, by the trader computing device in accordance with the self-enforcing smart contract, the amount of the assignable tokens transferrable to the digital asset exchange device; and

rendering, by the trader computing device in accordance with the self-enforcing smart contract, the amount of the assignable tokens unavailable to the trader computing device.

5. The method of claim 2 , wherein a release condition of the one or more release conditions includes one of:

a verification that the amount of a first digital asset is successfully obtained by the digital asset exchange device; and

an authorized termination of the exchange.

6. The method of claim 2 , wherein a consume condition of the one or more consume conditions includes one of:

a verification that the amount of a first digital asset is not successfully obtained by the digital asset exchange device; and

an unauthorized termination of the exchange.

7. The method of claim 1 , wherein the determining to assign conditional access rights to the amount of the assignable tokens to the digital asset exchange device further comprises:

receiving, by the trader computing device, a request to assign the conditional access rights from the digital asset exchange device.

8. The method of claim 1 , wherein the assignable token distributed ledger technology comprises:

an assignable token blockchain operable to execute self-enforcing smart contracts.

9. The method of claim 1 , wherein the self-enforcing smart contract is operable to verify one or more aspects of the exchange by one or more of:

receiving, by the self-enforcing smart contract, one or more data inputs containing information related to the one or more aspects of the exchange; and

verifying, by the self-enforcing smart contract, information related to the one or more aspects of the exchange included in the self-enforcing smart contract.

10. The method of claim 1 , wherein access rights of the conditional access rights include one or more of:

a right to take the amount of the assignable tokens via an on-chain transaction;

a right to view a representation of the amount of assignable tokens;

a right to lock at least a portion of the amount of assignable tokens;

a right to unlock at least a portion of the amount of assignable tokens;

a right to assign at least a portion of the amount of assignable tokens;

a right to transfer at least a portion of the amount of assignable tokens;

a right to move at least a portion of the amount of assignable tokens; and

a right to exchange at least a portion of the amount of assignable tokens.

11. A non-transitory computer readable memory comprises:

a first memory element that stores operational instructions that, when executed by a trader computing device, causes the trader computing device to:

store assignable tokens in a structure having a partitioning scheme, wherein a first dimension of the structure having the partitioning scheme represents addresses, wherein a second dimension of the structure having the partitioning scheme represents partitions, and wherein a first address of the addresses includes a first plurality of partitions of the partitions;

send an amount of a first digital asset to a digital asset exchange device for a real-time digital asset-based exchange of the amount of the first digital asset to an amount of a second digital asset, wherein the digital asset exchange device facilitates digital asset exchanges between a plurality of trader computing devices;

determine to assign conditional access rights to an amount of assignable tokens of the assignable tokens to the digital asset exchange device to back the real-time digital asset-based exchange, wherein the conditional access rights are in accordance with a set of conditions, wherein the assignment of the conditional access rights is a self-enforcing smart contract embedded in an assignable token distributed ledger technology, and wherein the self-enforcing smart contract is operable to verify one or more aspects of the real-time digital asset-based exchange;

lock in accordance with the self-enforcing smart contract, the amount of the assignable tokens of the assignable tokens in the first address, wherein the first address is associated with the trader computing device;

transfer the amount of assignable tokens to a first partition of the first plurality of partitions; and

provide in accordance with the self-enforcing smart contract, the conditional access rights to the amount of the assignable tokens in the first partition to the digital asset exchange device; and

a second memory element that stores operational instructions that, when executed by the digital asset exchange device, causes the digital asset exchange device to:

exchange the amount of the first digital asset to the amount of the second digital asset, wherein the amount of the first digital asset is substantially equivalent to the amount of the second digital asset; and

send the amount of the second digital asset to the trader computing device.

12. The non-transitory computer readable memory of claim 11 , wherein the set of conditions includes:

one or more release conditions; and

one or more consume conditions.

13. The non-transitory computer readable memory of claim 12 , wherein the first memory element further stores operational instructions that, when executed by the trader computing device, causes the trader computing device to, in accordance with the self-enforcing smart contract, detect a release condition of the one or more release conditions, wherein the detection of the release condition triggers a release, wherein the release includes:

unlocking the amount of the assignable tokens stored in the first address; and

terminating the conditional access rights to the amount of the assignable tokens to the digital asset exchange device.

14. The non-transitory computer readable memory of claim 12 , wherein the first memory element further stores operational instructions that, when executed by the trader computing device, causes the trader computing device to, in accordance with the self-enforcing smart contract, detect a consume condition of the one or more consume conditions, wherein the detection of the consume condition triggers a consume, wherein the consume includes:

rendering the amount of the assignable tokens transferrable to the digital asset exchange device; and

rendering the amount of the assignable tokens unavailable to the trader computing device.

15. The non-transitory computer readable memory of claim 12 , wherein a release condition of the one or more release conditions includes one of:

a verification that the amount of a first digital asset is successfully obtained by the digital asset exchange device; and

an authorized termination of the exchange.

16. The non-transitory computer readable memory of claim 12 , wherein a consume condition of the one or more consume conditions includes one of:

a verification that the amount of a first digital asset is not successfully obtained by the digital asset exchange device; and

an unauthorized termination of the exchange.

17. The non-transitory computer readable memory of claim 11 , wherein the first memory element further stores operational instructions that, when executed by the trader computing device, causes the trader computing device to determine to assign conditional access rights to the amount of the assignable tokens to the digital asset exchange device by:

receiving a request to assign the conditional access rights from the digital asset exchange device.

18. The non-transitory computer readable memory of claim 11 , wherein the assignable token distributed ledger technology comprises:

an assignable token blockchain operable to execute self-enforcing smart contracts.

19. The non-transitory computer readable memory of claim 11 , wherein the self-enforcing smart contract is operable to verify one or more aspects of the exchange by one or more of:

receiving one or more data inputs containing information related to the one or more aspects of the exchange; and

verifying information related to the one or more aspects of the exchange included in the self-enforcing smart contract.

20. The non-transitory computer readable memory of claim 11 , wherein access rights of the conditional access rights include one or more of:

a right to take the amount of the assignable tokens via an on-chain transaction;

a right to view a representation of the amount of assignable tokens;

a right to lock at least a portion of the amount of assignable tokens;

a right to unlock at least a portion of the amount of assignable tokens;

a right to assign at least a portion of the amount of assignable tokens;

a right to transfer at least a portion of the amount of assignable tokens;

a right to move at least a portion of the amount of assignable tokens; and

a right to exchange at least a portion of the amount of assignable tokens.

Assignments (3)
CHANGE OF NAME Recorded Jul 12, 2023
From: FLEXA NETWORK INC.
To: FLEXA INC.
Reel/Frame 064256/0585 →
ASSIGNMENT OF ASSIGNOR'S INTEREST Recorded Nov 17, 2022
From: LESHNER, ROBERT
To: FLEXA NETWORK INC.
Reel/Frame 061959/0383 →
ASSIGNMENT OF ASSIGNOR'S INTEREST Recorded Nov 17, 2022
From: FILTER, TREVOR; KILGORE, ZACHARY; SPALDING, TYLER ROBERT
To: FLEXA NETWORK INC.
Reel/Frame 061959/0441 →
Continuity (3)
Continuation 17204665 · Mar 17, 2021
Continuation In Part 17014624 · Sep 8, 2020
Related Publication 20220351163A1 · Nov 3, 2022