Smartlands launches platform for tokenisation and trading of real estate

On May 14, the launch of Smartlands — a platform for tokenisation and trading real estate — took place. At launch, users could invest in three commercial properties in Kyiv.

The Smartlands platform uses the Smarltands Network blockchain, which is based on the Stellar protocol. In developing the project, the team took into account European financial regulators’ requirements for customer identification (KYC):

• User verification. KYC- and AML-oracles confirm the user’s identity and the source of funds;
• Control of each asset type. Separate compliance-oracles verify asset transactions within a single country;
• Transparency for regulators. The Smarltands Network stores data on asset transactions in an open form;
• Regulated market. To launch a decentralized exchange on Smartlands Networks a retail exchange licence (Multilateral Trading Facility or MTF) is required.

The Smarlands Network uses the native token SLT. It is needed to run oracles and network nodes, pay transaction fees, and pay rewards to qualified token holders. The Smartlands Network will distribute 33% of fees monthly among users who have locked in a staking contract SLT valued at more than €1000. The Smartlands team plans to launch staking in June 2021.

When tokenising assets on the Smartlands platform, investors pay a 5% commission, and when selling tokens — 1%. The network also distributes these funds among qualified holders.

“Our long-term goal is to reach $1 billion of tokenised real estate on Smartlands. Then users will receive at least $3 profit for each token in staking. Under our tokenomics, holders’ income depends on the value of tokenised assets, not on the price of SLT,” commented Ilya Obraztsov, CEO of Smartlands.

At the time of publication, the price of SLT — $13.28. The issuance is capped at 5.1 million tokens. SLT trades on exchanges StellarTerm, StellarX and WhiteBit.

In April, tokenised real estate rose by 4%.

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