What is RealtyX?
RealtyX is a revolutionary Real World Asset (RWA) project on the Base blockchain. It is designed to provide global users with the opportunity to benefit from the real estate market, all without the need to own physical properties.
One of the key challenges in the current real estate investment industry is the substantial capital requirement, which often excludes the majority of people around the world from participating.
RealtyX addresses this issue by implementing a concept known as “real estate tokenization.”
This forward-thinking approach involves the creation of a Decentralized Autonomous Organization (DAO) — The RealtyX DAO. Within the RealtyX DAO, each property is overseen by its designated Special Purpose Decentralized Division (“SPDD”). Facilitated by a robust legal framework, property rights are bestowed upon SPDD members, who hold the corresponding SPDD governance tokens.
The governance structure of each SPDD operates autonomously, guided by its dedicated governance token. Through holding governance tokens, members of the SPDD can actively participate in decisions regarding tokenized properties, ensuring not only decision-making power but also the benefits derived from the value generated by these assets.
This innovative system democratizes real estate value sharing and offers a more accessible and inclusive way for individuals to benefit from the real estate market.
Governance
RealtyX introduces a decentralized platform for property tokenization, guided by community-driven and community-managed principles. The governance of RealtyX is overseen by the RealtyX DAO. While the platform’s founding team currently assumes a leading role in platform maintenance and development, the roadmap envisions a transition over time towards greater community empowerment.
This evolution means that the community will gain the ability to make significant decisions that shape the RealtyX ecosystem. In the future, these decisions include:
- Upgrading contracts
- Selecting properties for tokenization
- Influence rewards and platform token distribution
SPDDs
Furthermore, RealtyX introduces SPDDs for each tokenized property, creating micro-communities with various governance rights. These rights encompass advising on property sales, participating in property-related votes, and contributing to property-specific initiatives.
To gain membership and engage in the decentralized decision-making of a RealtyX SPDD, users are required to obtain governance tokens. These tokens are ERC-20 tokens backed by high-quality properties as their underlying assets. Known as RealtyX SPDD Tokens (RST), they serve as the key to both governance participation and value sharing in the RealtyX ecosystem.
As RealtyX evolves, the transition to community-based governance underscores its commitment to inclusivity, transparency, and decentralization, enabling the community to actively participate in shaping the platform’s future.
Participants
In RealtyX’s ecosystem, there are currently two primary roles: property owners and RST token holders. Furthermore, the process of property tokenization is facilitated by trusted third-party service providers, which include a trust foundation, treasury management, and property management teams.
Property Owners: These participants play a pivotal role by offering their properties for tokenization through the platform, making these assets available to a wider user base. Property owners are required to transfer their properties to a trust foundation under the guardianship of RealtyX DAO. It’s important to note that this trust foundation operates under strict government regulations. This regulatory oversight assures users that property owners cannot arbitrarily reclaim once a property is tokenized.
RST Token Holders: RST token holders are individuals who engage in property tokenization to explore alternative value streams on the blockchain. They undergo a real-life identity verification process (KYC) to ensure their legitimacy. KYC is commonly adopted in the RWA industry. This industry-standard practice is in place to safeguard a secure and trustworthy environment.
These two roles, along with the support of trusted third-party service providers, collectively contribute to the efficient and legally compliant tokenization of properties within the RealtyX ecosystem.
How RealtyX Works
Property owners, whether they are individuals or institutions, initiate the process by determining the percentage of their property’s value that they wish to tokenize through the RealtyX platform. The tokenized property units are made accessible to members of the RealtyX DAO for purchase, and these units are represented in the form of ERC-20 tokens known as the aforementioned RealtyX SPDD Tokens (RST).
To acquire these RST tokens, DAO members use stablecoins, currently USDC, as their payment method. RealtyX’s platform retains a service fee, represented as a percentage (3%), from the stablecoins collected. The remainder of the stablecoins collected are then passed on to the property owners.
Members of the RealtyX ecosystem who hold RST tokens are granted governance rights, endowing them with decision-making power in the collective oversight of the tokenized real estate.
As a benefit of their active involvement in governance, they are entitled to the sharing of the rental income produced by the properties overseen by each SPDD. This represents the tangible rewards for SPDD members, with expected yields ranging from 7–10%.
In this way, the RealtyX platform extends global access to the real estate market, simultaneously offering property owners the benefits of liquidity without necessitating the complete relinquishment of ownership.
In the future, RealtyX DAO envisions the potential for the community to have ownership stakes in the properties. This future development would lead to the complete decentralization of property ownership on-chain, with the community collectively holding property assets.
It’s important to acknowledge that one of the biggest challenges in accomplishing this vision is regulation. However, the RealtyX DAO legal team is highly experienced and actively working towards finding the best operational structure to overcome these challenges.
At the same time, we are actively exploring DeFi protocols to enhance the accessibility and composability of our RWA offerings, ensuring a seamless and compliant pathway towards decentralized property ownership and value distribution.
Tokens
In the RealtyX ecosystem, two distinct types of tokens play a central role: ERC-20 tokens (RST tokens) and ERC-721 tokens (NFTs). Furthermore, the RealtyX platform employs stablecoins for the purchase of RST tokens.
RST Tokens: RST, short for RealtyX SPDD Tokens, are the cornerstone of RealtyX’s property tokenization process. Primarily, they grant governance rights specific to the tokenized property they represent. By retaining these tokens and adhering to the RealtyX DAO’s terms and conditions, holders can become active members involved in the decision-making for their respective property within the ecosystem.
Moreover, they symbolize active engagement within the community, signifying that participants have staked stablecoins to partake in communal decision-making processes that determine the allocation of economic rewards emanating from the asset.
NFTs in the Ecosystem: Within the ecosystem, NFTs take the form of RealtyX Launch Pass and Genesis Cards. The Launch Pass is a key that unlocks access to reward raffles, and it also serves as an engagement pathway for more exciting community activities. Ultimately, it acts as a prerequisite for obtaining the prestigious Genesis Card. The Genesis Card represents the status of premium members within the RealtyX DAO, offering holders tangible real-world value.
In the near future, RealtyX plans to roll out dedicated DAO governance tokens, giving community members the ability to shape the platform through active governance participation.
Countdown to RealtyX Launch: Be Ready for the Exclusive 10 ETH Prize Drop
The RealtyX platform is getting ready for its much-awaited debut. It will begin with a pilot launch, during which the community can expect to receive the coveted Launch Pass NFTs through an airdrop if they are eligible. As mentioned before, this pass is not just a symbol, but it also provides access to a generous prize pool, with the potential to unlock rewards worth up to 10 ETH.
Keep up with RealtyX DAO
Stay in the loop with RealtyX DAO! Follow us on social media to catch all the latest updates, exclusive insights, and exciting rewards as we reshape the future of real-world assets together.
- One-pager Website｜https://www.realtyx.co/
- Twitter｜https://twitter.com/RealtyX_DAO
- Wiki｜https://realtyx.gitbook.io/realtyx/
- QuestN | https://app.questn.com/realtyx_dao
- Discord | https://discord.gg/2aPZ9nusFN
