COLLABORATIVE ONCHAIN INVESTMENT AND TRADING OF NEIGHBORHOODS (COiTON)
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/////////////////////////////////////////////| REAL ESTATE! |\
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[ COLLABORATIVE ON-CHAIN INVESTMENT AND TRADING OF NEIGHBORHOODS ]
[[[[[[[[]]]]]]] (COiTON) ]
[ ] BUY AND SELL REAL ESTATE ASSETS ]
[ ] TRADE REAL ESTATE INDICES [[[[[[[[]]]]]]]] ]
[_____________] TRADE NFT's [ ] ]
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This project aims to develop a Decentralized Real Estate Trading Platform that enables users to speculate on and trade city indices representing real estate markets. The platform will use blockchain technology to ensure transparency, security, and accessibility, allowing users to engage in trading without the need to own physical properties.
COiTON offers users enhanced flexibility in trading various property indices that have been transformed into NFTs. Initially, the valuation of each NFT mirrors the price of its corresponding physical property. However, due to the dynamics of virtual trading, while the starting price of each NFT is equivalent to the actual property, it may fluctuate based on user interactions. The prices of the NFT properties will vary as different users engage in buying or selling these tokens, influencing their market value.
The schema includes fields for ERC20 and ERC721 tokens, which serve as our payment and trading mechanisms respectively. The ERC20 token is essential for tokenizing the system, requiring users to possess this token to participate in governance. On the other hand, the ERC721 token represents the NFT, as previously mentioned, which facilitates the conversion of listed real estate into NFTs. This allows users the flexibility to trade these NFTs, and due to the nature of ERC721, users can buy and sell shares of a single real estate NFT.
The verification process for real estate is crucial to confirm the legitimacy of properties listed on COiTON. To facilitate this, a DAO has been integrated into the system, managed by the land and property administrations across various states and regions. This DAO acts as a multi-process approval mechanism for authenticating listed real estate. It enhances COiTON's security by mitigating potential vulnerabilities in the services it offers.
As a result, each DAO must be registered specifically for each state and region. This necessity arises because different states have their own unique land and property regulations. By having separate DAOs for different states, COiTON can accommodate the varied requirements of listed properties from different regions, ensuring a flexible and secure platform.
Refer HERE for clear image
The COiTON Token is a stablecoin tied to the value of the USDT dollar, using an Algorithmic Supply Adjustment mechanism for stability. This method involves adjusting the token supply based on demand. When the stablecoin's price consistently exceeds the target value, more tokens may be issued to increase circulation. Conversely, if the price consistently falls below the target, tokens may be burned to reduce supply.
Here to view Tokenomics
Here for project documentation
Here sepolia-blockscout.lisk
- X: Web3Bridge Cohort X Team XI