I am helping a project called CitaDAO.io - they are tokenizing real estate in a truly DeFi way. I think there is opportunity for SPELL community and CitaDAO to collaborate.
But FIRST, some background what is CitaDAO. They are building a Real Estate powered DeFi ecosystem, featuring a two-way asset tokenization bridge, ample liquidity, and bearer asset tokens that are composable with the broader DeFi applications and primitives. Real estate tokens will enable the DeFi community generate sustainable yield through real world productive assets, diversify their portfolio on-chain, AND serve the growing demand for on-chain yield. Unlike past real estate tokenization attempts, they are taking a 100% DeFi approach that leverages composability with other projects in DeFi, allowing us to scale users and usecases rapidly (as an example, see recent partnership with XToken to provide concentrated liquidity on UniswapV3: https://twitter.com/xtokenmarket/status/1461716880713039872 )
Through CitaDAO platform, Crypto Anons will soon be taking over meatspace real world assets and we shall see the physical world re-made in the likeness of our own Crypto community, and use tokenized real estate as collateral for permission-less loans on-chain via our collaboration with Chainlink on price feeds for real estate: (https://twitter.com/chainlink/status/1465814283938377729 )
The first property to be tokenized through an “IRO”, Introducing Real estate Onchain, will be a $20m prime real estate located in Cardiff, Wales, UK - in around February 2022 - exact date TBD, property details here: Cardiff Commercial Building IRO - CitaDAO Docs
OK, that’s fine. So what? Here is the collaboration idea:
Initial phase of collaboration: CitaDAO will use MIM exclusively as the contribution token for the IRO. SPELL treasury contributes $10.69M of their treasury into the IRO and receives the pro rata stake in the property, and achieves some treasury diversification while collecting rental income from the rent-seeking big banks (this property being leased to a global bank).
Frog nation takeover of meatspace commences. SPELL treasury also receives a percentage, say 3.33% of all CitaDAO governance tokens (would need to discuss with the team exact figures) with vesting timeline. The project has no token yet, but will, soon…
Subsequent to IRO, Abracadabra would allow real estate tokens to be used to mint MIM, this would be feasible as rails with Chainlink are being built to provide price feed data on the real estate.
This would just be the start of the takeover of meatspace by anons.
Would love to get your thoughts on this!