RIET tokens
This will be the native token on Cardano that will drive the operations of this network
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This will be the native token on Cardano that will drive the operations of this network
Last updated
Was this helpful?
The RIET token is a native token on Cardano for this project.
Policy id: 1a49530b152d1e090a0242ecfe79a5b6b7d28e57f0d9d1b64f42eba4
Main usage of this token :
Transactions fees for buying and selling of the real estate NFT assets using decentralised network.
Governance of the protocol
Treasury
Minting unique NFT’s
The private sales, will be a channel to reserve some tokens for mid/large cap investors who would like a direct channel to acquire the tokens at a presumed fixed valuation corresponding to an early sale.
ISPO is the fairest way to democratise the participation in initial token distribution, and allows a proportionate distribution of value across all segments of investors. A fixed number of tokens will be allocated for this channel of value distribution.
This is a natural extension of reward distribution to the employees and advisors of ReitCircles who will have a stake in the development and progress of the company they are working for, and participate in the development of this protocol. The exact distribution and split will be determined later and published here.
For partnership with DEX's and existing real estate platforms, for interoperability, this budget will help in growing the platform and ecosystem.
We are working on decentralising as much as possible the entire protocol, related to transactions for real estate bids and other functionalities on this platform. It means we will be using appropriate technology in Cardano and use the POS network for this process.
The tokens will be released in phases so that the token distribution is more uniform and spread across different phases of the project. It also allows investor participation at later stage
The foundation will be a non-profit organisation and will have the following goals.
Work on setting goals for the protocol so that it spreads power to the edges in the area of real estate transactions.
Work on creating partnerships in order to enhance the utility and value of the protocol
Work on enabling a global developer ecosystem platform that takes care of decentralised application development on the toolchains built and this will truly ensure that even the smallest of the real estate agents in a remote part of the world, can use this platform in order to enable their small team to deliver world class experience to their local community in terms of buy/sell of assets.
Work on creating a global mindset and far reaching collaboration with largest of real estate players so that it is a win-win for all and ensures the goal 1 set above.
Work on developing proper B2B channels both to large cap clients as well as government organisations as real estate sits at the boundary of these.
The labs is for developing the protocol and kickstarting the initial set of tools to kickstart the ecosystem. Laying the base protocol which will be handed over to the Foundation, who will thereof maintain and extend it. The goals of the lab are
Work on developing the basic protocols that leads to decentralisation of the key functions in the real estate transactions.
Integrate as necessary with other partners in the ecosystem, so as to not recreate the wheel.
Make the protocol functioning in a specific segment of the large real estate ecosystem and create a real world example showing use and utility.
The fund raising for REITCIRCLES will be done via the selling of the utility token called REIT. This is the tokens that will have to be used for buying/selling of the real estate assets. As mentioned above this tokens will also act as governance token for this protocol.
