CitaDAO - Briefing Document
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-- PRE-CALL CHECKLIST ---
General Discovery
About the event
- Project: CitaDAO
- Guests: Joel Lin. UBS Investment Bank, CBRE, CapitaLand.
- Topic: Creating the DeFi real estate ecosystem. (We are not just tokenizing real estate. We are building the Ethereum of Real Estate.)
- NOT FINANCIAL ADVICE
About our guest speaker
- Joel Lin, Contributor at CitaDAO. Joel is pronounced (Johl) - One Syllable. (Twitter: @0xRealFi) (Discord: Joel | Citadao đ°Â Never DM You) Tachyon#7849
- Write a short bio about the guest(s) including their role at the project they are speaking about.
- Joelâs real estate journey began in 2008, working with the largest real estate developer and consultancy in the world (CBRE) helping institutions invest in real estate globally.
- Joelâs crypto journey began back in 2017, where tokenization was all the hype, and everyone was launching a tokenized project. Joel received many proposals to tokenize the real estate in his institutional portfolio but didnât know exactly how to represent the rights to the underlying real estate at the time. Nonetheless, he was very excited about the potential for tokenizing real estate.
- Joel was able to capitalize on his crypto journey by discovering how to redeem the real estate token for the underlying real estate in the same way that you can redeem the US dollar with USDC. Joel and his team tweaked some of the structures that the private equity professionals use in the traditional world, and were able to connect the dots and link the real world space with the blockchain metaverse.
- What are some notable achievements that increase their web3 reputation?
- The CitaDAO team developed a solution to enable crypto investors to diversify their portfolio of crypto assets into real world real estate assets without ever having to go off chain.
- Incentivizes landlords to independently mint their properties as NFTs.
About the project
- General Position: Permissionless, decentralized investing platform to instantly unlock liquidity in home equity. What is the general positioning of the project? i.e. DeFi, NFTs, DAOs, governance.
- What is the value proposition of the project? How does it clearly differentiate itself from others in the web3 space?
- How does it benefit it community members and general web3 communities at large?
- Real estate prices have gone up globally, especially in Asia, and that sort of locked out the millennials from the real estate market. For the majority of the younger generation, itâs a matter of luck. Either you're born into a family that can afford to own a home or you have to rent for the rest of your life. CitaDAOâs mission is to change that and make the real estate market accessible for everyone through the power of web3 and DeFi.
- Is it bridging blockchains, protocols, tools, communities, etc.?
- Does it bring a unique vision or approach to solve challenges in web3?
- How does it improve the web3 ecosystem?
- Generally, how does the product work?
- Provide basic information about the product
- Details of product stemming off high level overview
- Outline a few mid to high-level topics about the product
- Results of the product so far
- Practical applications of product.
- Detail current functionality of project, where it is deployed, TVL.
- Current and potential use cases.
- Outline steps for a beginner to get started.
- Token economy.
- Any recent, meaningful updates to the project.
- Roadmap/future applications
- Technical updates
- Community updates or changes
- What is the general positioning of the project? i.e. DeFi, NFTs, DAOs, governance.
- General Position: A permissionless, decentralized investing platform that allows users to instantly unlock the liquidity in their home equity. CitaDAO utilizes DeFi, NFTs, DAOs, and governance.
- What is the value proposition of the project? How does it clearly differentiate itself from others in the web3 space?
- Unlike the other real estate tokenization attempts, CitaDAO is differentiating itself from its competitors by taking a 100% DeFi approach that leverages composability with other projects, allowing them to scale users and use-cases rapidly. (Recently collaborated with xToken to provide concentrated liquidity on UniV3).
- How does it benefit community members and general web3 communities at large?
- Real estate prices have gone up globally, especially in Asia, and that sort of locked out the millennials from the real estate market. For the majority of the younger generation, itâs a matter of luck. Either you're born into a family that can afford to own a home or you have to rent for the rest of your life. CitaDAOâs mission is to change that and make the real estate market accessible for everyone through DeFi.
- Is it bridging blockchains, protocols, tools, communities, etc.?
- CitaDAO will be launching on the Ethereum blockchain for its (PoC) Proof of Concept, and is integrated with two other DeFi protocols: Chainlink to provide a reliable real estate valuation data feed to the DeFi ecosystem, this is crucial for protocols wanting to build trustless decentralized applications, and xToken to facilitate the liquidity investors need to trade those assets.
- Does it bring a unique vision or approach to solve challenges in web3?
- CitaDAO is the first and only platform that allows a âtwo-way bridge,â the two-way bridge allows the listed real estate, not only to be listed on the platform and tokenized, but to be de-tokenized and redeemed.
- How does it improve the web3 ecosystem?
- Creates many more use-cases for real estate investing through DeFi, which will expand the overall adoption of web3 and the scalability of multiple protocols.
- Connects the physical word to the blockchain.
- Generally, how does the product work?
- Overview
- Landlord lists real estate and verifies ownership
- (IRO) â Introducing Real Estate On-Chain
- NFT minted and ERC20 fractions are distributed to buyers.
- Trading via AMM commerce.
- Buyout provision enables fraction holder to redeem the full NFT and de-tokenize.
- NFT owner receives the title to the real estate.
- Details of product stemming off high level overview
- 2 way Tokenization Bridge for Real Estate
- Taking real estate back and forth from the off-chain meat space to the on-chain metaverse.
- Landlord mints their property as an NFT on the CitaDAO platform.
- Multiple DeFi options made available via AMM commerce
- Buyout provision allows a fraction holder to own the tokenized property in its entirety.
- The new property owner can now de-tokenize and receive the title to the real estate.
- Outline a few mid to high-level topics about the product
- CitaDAO brings physical real estate to the blockchain metaverse. Once the real estate is on the blockchain, liquidity in the home equity is instantly unlocked, and you can put that liquidity to use in various defi protocols. CitaDAO believes that on-chain real estate will become more valuable than off-chain real estate, simply due to the various use-cases through DeFi protocols. CitaDAO prides itself on composability, in order to scale and to provide as many services for their users as possible.
- Results of the product so far
- CitaDAO is launching their first âIntroducing Real Estate On-Chainâ (IRO) in Cardiff, UK. During the IRO period, you can commit your interest to own a fraction of the real estate. You can do so by staking USDC in the commit pool. Once liquidity is staked to the pool, it cannot be withdrawn. In return for locking up liquidity, stakers will receive daily rewards based on the percentage contribution to the launch pool.
- Practical applications of product.
- Detail current functionality of project, where it is deployed, TVL.
- The first (IRO) âIntroducing Real Estate On-Chainâ launches in January on the CitaDAO website.
- Current and potential use cases.
- Increases the value of real estate by integrating the property with DeFi protocols for multiple use-cases for the unlocked liquidity.
- Bridges the physical world with the blockchain, thus expanding the adoption of web3.
- Outline steps for a beginner to get started.
- The project launches in January, so a beginner can get started by participating in the IRO on the CitaDAO website by connecting with their MetaMask wallet and staking USDC.
- Token economy.
- The token has not launched yet.
- Any recent, meaningful updates to the project.
- Recently collaborated with xToken to provide concentrated liquidity on UniV3.
- Roadmap/future applications
- Technical updates
- October 2020: Initial conceptualization of CitaDAO.
- July 2021: Litepaper published.
- Q4 2021: Building community and creating content.
- Q1 2022: Proof-of-Concept launch. Launch POC and beta version on Ethereum. First IRO.
- Q2 2022: More IROs from various commonwealth countries.
- Q3 2022: Opening the platform for the public to IRO.
- Community updates or changes
- Project introduction call at 3:00pm UTC 12/28/2022 on the CitaDAO discord server.
About the ecosystem
- Find one or two things the speaker has shared in the past about the future growth, impact of web3?
- Joel believes that in the near future there will be two set prices for real estate; real estate on-chain and real estate off-chain. Joel is convinced that the price of real estate on-chain will have a higher value, simply because there will be more use-cases. The Web2 World is constrained by competition and limitations, whereas web3 is all about collaboration and scalability. Web3 is a lot more progressive than what we have today in the traditional finance world.
- How will their project(s) contribute to the evolution and adoption of web3?
- CitaDAO will expand the adoption of web3 by creating many use-cases within real estate through DeFi protocols. CitaDAO integrates the physical world with the blockchain. Allowing landlords to mint their property as an NFT, along with being able to access the locked liquidity in their home equity to be put to other uses that will generate yield will dramatically change real estate as we know it. CitaDAO will be a major catalyst in the worldwide adoption of DeFi.
- What are some web3 projects/tools that the project integrates to create a more robust ecosystem?
- The CitaDAO ecosystem consists of two sets of tokens. One is the underlying Real Estate Token (RETs) and the other is the CitaDAO platform governance token. The platform governance token is special, because it is designed to scale the community. There is no way you can actually buy the platform governance token, it has to be earned/mined. The CitaDAO governance token is earned by providing liquidity or to actually provide good quality real estate into the platform.
Anything else?
- Joel made an interesting parallel to the real world today. He uses the Apple ecosystem as a metaphor for CitaDAO. Now, with the Apple ecosystem, you have the iPhone, the advantages of the iPhone is not in the phone itself, the advantages are all of the apps on the App Store. The apps generate the use cases that make the phone more attractive. The more use-cases you have for the iPhone increases the demand, and the App Store takes a cut of all the revenue generated by the apps listed on the App Store. Now, that's exactly what CitaDAO is doing here. The CitaDAO platform is the App Store for real estate. The real estate broker is the iPhone, and CitaDAOâs objective is to build a community of other DeFi projects on the platform to increase the number of use-cases, thus increasing the demand for the underlying real estate token.
Resources
References
- Relevant project links including discord, website, twitter, podcast, medium, mirror, substack, gitbook, etc.
- Docs:Â https://docs.citadao.io/
- AMA with Chainlink: https://www.youtube.com/watch?v=ZGZhIncLr84
- AMA with Next Creators:Â https://www.listennotes.com/podcasts/next-creators/whats-a-real-estate-use-case-EBa865LK-Yi/
- AMA with CRÎ8R: https://www.youtube.com/watch?v=cTx7evD8tRE
- Social media details of the guest.
- Twitter: https://twitter.com/0xRealFi
- Discord: Joel | Citadao đ°Â Never DM You) Tachyon#7849
Sources
- List every source used to curative the information in this outline. including blogs, tweets, sources of images, websites, youtube videos, interviews, podcasts, books, etc.
- Site: https://citadao.io/
- Twitter:Â https://twitter.com/citadao_io
- Medium: https://citadao.medium.com/
- https://cryptoslate.com/citadao-integrates-chainlink-to-bring-tokenized-real-estate-to-defi/
- https://medium.com/@xtokenteam/announcing-xtoken-terminal-our-uniswap-v3-liquidity-mining-portal-c28511c3d7a4
- https://twitter.com/xtokenmarket/status/1461716880713039872
- https://twitter.com/citadao_io/status/1472057612250140675
- https://citadao.medium.com/5-reasons-why-citadao-real-estate-nfts-are-superior-to-actual-real-estate-9dc6b601211d
- https://coinmarketcap.com/headlines/news/citadao-integrates-chainlink-to-bring-tokenized-real-estate-to-defi/
- https://citadao.medium.com/the-dark-past-and-bright-future-of-real-estate-tokenization-f0dcf936823b
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