It’s been a busy time for Landshare! Just over one week ago, we officially launched our DAO and V2 Token migration. While this process was a big undertaking, it went very smoothly thanks to the support and cooperation of the community. As of today, roughly 70% of all tokens have been migrated!
If you still haven’t migrated your tokens, don’t worry! You can complete the migration at any time on our migration page. If you need help or have questions about the migration, be sure to check out the guides in our docs here or ask your questions on our Telegram group.
In addition to the migration, the community has been busy drafting and posting proposals to the brand-new DAO page. We are excited to see how quickly the community has taken to this new feature and believe this can be a key pillar in the Landshare ecosystem going forward. So far, we’ve already had two passing proposals: a staking rewards and our first ever marketing bounty.
Staking Rewards Change
With an overwhelming 97.45% to 2.55% margin, the community has voted to approve a proposal to reduce staking rewards. The daily distribution for LAND Staking has been reduced from 1600 to 1000 per day, and the LP farm has been reduced from 1400 to 1000 per day. From the proposal:
Reducing LP and Land staking rewards collectively by 1000 per day will significantly reduce the potential selling pressure from the rewards being minted. This will help to increase the price of the Land token and slow down the introduction of rewards into circulation.
View the full proposal here: Landshare Proposal: [Change Vault Allocation] Reduce Land and LP staking (snapshot.org)
Video Creation Contest
Another convincing victory, this proposal to create a video creation contest passed with 99.1% of the vote! This proposal will trigger our first ever marketing bounty.
This proposal seeks to create a contest for the best Landshare related videos on Youtube or TikTok.
Total Prize pool: 175 LAND
Timeframe: 4 weeks (04/01/23–04/30/23)
1st prize: 100 LAND
2nd place: 50 LAND
3rd place: 25 LANDIn order to enter the contest, you must create and upload a new, original Youtube or TikTok video about the Landshare platform. After the 2 week submission period, the community will vote for the top 3 videos.
On April 1st, the team will post a submissions page where anyone interested in entering the contest can submit their videos. Any video made from now until the end of the submission period will be eligible. After the submission period, an admin will create a new proposal in the DAO to vote for the winners.
Read the full proposal here: Landshare Proposal: [Create Bounty] Landshare Video Contest 04/2023 (snapshot.org)
Twitter Retweet Competition
Another marketing bounty will go active during the month of April, passing with over 99% of the vote! This bounty will incetivize retweeting Landshare posts on Twitter:
The competition will run during the month of April (Start on the 1st of April and finish the 30th of April)
On the 1st of May one random tweet made by the oficial Landshare twitter in the month of April between the dates above will be selected for the competition, anyone who retweeted the chosen tweet will run into the draw to win one of the prizes up for grabs.
The prizes are;
1x prize of 100 Land tokens.
4x prizes of 25 Land tokens.
10x prizes of 10 Land tokens.
1x bonus prize of 50 Land tokens for most liked comment on the selected tweet. (Split if it’s a tie)Total of 16 individual prizes with 350 Land tokens up for grabs.
Read the full proposal here: Landshare Proposal: [Create Bounty] Twitter retweet competition (snapshot.org)
What’s Next: Landshare RWA Token & More
With our migration and DAO now live, it’s time to refocus our efforts on the heart of our platform: tokenized real estate! After conducting the first tokenized real estate offering on BSC, followed by its first on-chain house flip, we are continuing to look for new ways to improve and refine our real estate offerings. While we are satisfied with our progress so far, we believe that there is always room for improvement.
With that in mind, the first question we had to ask was simple: what can real estate on the blockchain look like? What benefits does it provide, and how can it distinguish itself from off-chain alternatives? In the end, we determined that tokenized real estate should maintain the following unique characteristics:
- Healthy liquidity and easy cash-outs
- Token price adherence to the value of underlying assets
- DeFi compatibility and integrations
- High scalability
While we have come a long way in meeting these goals with our Asset Token DEX, auto-compounding, and OTC features, there are still some hurdles that prevent us from achieving these goals to the extent we believe is possible. Thus, we had to critically analyze our current model and determine if there were any adjustments that could be made to improve upon it.
Current Tokenization Model
The tokenization model currently used by Landshare has enabled real estate asset to be fractionalized, tokenized, and traded on-chain. It is, in its own right, a huge leap forward and one of the foundational components of RWAs on-chain. The model is widely used, and can be viewed as something of a standard in the industry. However, we’ve run into some limitations with the current model over time, including:
- Inefficient scaling: Each property requires a new legal entity and separate offering, incurring fees in the process. While there are ways to mitigate these issues, they are inherent to the model itself.
- Volatility: If a property becomes vacant or depreciates in value, anyone holding that specific token will lose considerable value.
- Liquidity limitations: Since each Asset Token’s market cap is essentially tethered to the property’s underlying value, liquidity is inherently limited. This means price impacts on DEXes will always be higher than desired, and liquidity for large buys and sells is not available.
- DeFi integration: Integration in DeFi products, including loan protocols and our NFT ecosystem, is made more difficult due to the need to support a new token contract for each asset.
Most of these issues revolve around the “one-property-one-token” model. There are advantages to having a separate token for each property, and they were considered carefully. However, after weighing the pros and cons, we believe that a single token which represents the ownership of all future assets provides a more efficient and scalable model for tokenization.
Landshare RWA Token
The Landshare RWA Token is our proposed solution to the problems presented in our current model. It breaks away from the standard and offers a brand-new way to invest in real estate with Landshare. This model will simplify and streamline the investment process with Landshare: if you’d like to invest in real estate, you can do so at any time and benefit from appreciation and rental income from all Landshare properties by simply buying and holding the Landshare RWA Token.
The Landshare RWA Token will go a long way to remedy the aforementioned limitations, and more. Here are some of the advantages:
- Simplified investment: Rather than conducting individual offerings for each new property, the Landshare RWA Token will be available in a perpetual offering, with no hard caps or time limits. If you’d like to invest with Landshare, it’s as simple as buying and holding the RWA token.
- Improved scaling: With a single legal entity and a single token, acquiring new properties is much simpler. Filing fees, legal fees, and other overhead costs are greatly reduced, if not eliminated entirely.
- Reduced Volatility: Exposure to several properties located in different markets and neighborhoods distributes risk. Any vacancies or damages will be mitigated by the income from the other properties.
- DeFi integration: Landshare RWA will greatly improve our ability to integrate with DeFi products, including loan protocols, by improving liquidity and simplifying integration to a single token.
- Cross-chain: While we’ve been exploring a potential cross-chain move for Landshare for some time, the biggest hang-up has always been our limited ability to take RWAs to new chains. With the Landshare RWA Token’s perpetual offering model, we can split our offerings to multiple chains.
In addition to a single token model, the Landshare RWA will feature a significant change to the way token value and direct sales are handled.
RWA Token Redemption Feature
As mentioned above, one of our core goals with the new system is to ensure that the token price adheres to the value of underlying assets. Put simply, this means that if the price of the underlying assets increases, the market value of your token should increase by the same percentage.
In order to meet this goal, the RWA token will feature a greatly improved replacement to the direct sale system. Rather than having to wait for approval from the team, you will be able to redeem your tokens at any time instantly and automatically. Best of all, the redemption value of the token will track the total value of the underlying properties, which will be updated frequently as their value changes. In other words, RWA tokens will provide direct 1:1 exposure to their underlying assets at all times.
DAO Updates
The DAO launched with a total of 6 preset options, covering some basic proposal types that can be implemented autonomously. Going forward, we will be expanding these preset options to allow for more choices and more control the DAO can implement. Here are a few of the new choices in the works.
Custom Proposal
While you can already submit a custom proposal on the Landshare Snapshot page, we will soon be adding the ability to create a custom proposal in the DAO interface. We welcome custom proposals, but please make sure you are adhering to the custom proposal guidelines! Custom proposals should not be used for feature requests, listing requests, or other actions that require non-DAO resources unless the means to acquire those resources are outlined in the proposal.
Add Liquidity
Another new preset in the works is the ability to use treasury funds to add liquidity to Pancakeswap. This process will include selling some LAND for BNB, so be sure to use it with discretion. DAO-controlled LP would be held in the DAO treasury until a separate proposal to withdraw the liquidity is passed. The DAO could also elect to put the LP into a timelock contract, if desired.
Change DAO Parameters
A few of the new presets would allow for modifications to the way voting, proposal creation, and other DAO features work.
- Change Voting Period: The current voting period is set to 5 days. This new preset would allow the DAO to request a modification to the voting period for proposals.
- Change Minimum LAND Requirement: By default, 100 LAND is required to create a proposal. This preset would allow the DAO to increase or decrease this number.
- Change Quorum: A quorum is the minimum amount of voting power (in LAND) that is required for a proposal to be considered valid. If the quorum is not met, the proposal is invalid regardless of outcome. Currently, the quorum is set to 20,000 LAND, and this proposal would allow it to be changed.
The DAO is run by the community, so if you have any ideas for new proposal presets, don’t hesitate to reach out!
Proposal Posts
We want to ensure the DAO has as much participation as possible so that everyone has a hand in the future of the platform. Going forward, all proposals will be posted and pinned to the Telegram group once reviewed and approved by the team.
Closing Thoughts
With the DAO and migration now live, we are looking ahead to what’s next. Our ultimate goal is simple: more properties, more opportunities, and a more streamlined model of tokenization. In addition, we will continue to polish and improve our existing features, with several under-the-hood changes coming soon that will improve the user experience on the Landshare App.
The Landshare RWA Token is still in development, and we are looking forward to hearing your feedback. If you have any ideas, questions, or concerns, please reach out to us. There is plenty more to come, and the RWA Token is just the first step! In the future, you can expect to hear more about upcoming features and platform changes, as well as more details on the RWA Token.
About Landshare: Invest in Tokenized Real Estate with as little as $50 directly on the blockchain through the Landshare platform. Landshare’s property offerings are carefully vetted and hand selected among thousands of potential options. View the current offerings at https://app.landshare.io/property-details
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