Landshare Development Update — October 1st, 2022
It has been an exciting week for Landshare and our Tokenized Assets! We are one step closer to launching the first ever tokenized house flip on the Binance Smart Chain. For further details about our upcoming House Flipping protocol, check out our article here, and for further information on our first offering check out our offering page.
In addition to our new Tokenized House Flipping feature, we have several updates slated for existing features. In this post, we will cover some upcoming changes to Vaults, the NFT marketplace, and secondary market options for Asset Tokens.
As our staking vaults continue to increase in volume, we have decided to reassess our reward structure and allocation. This reshuffling is designed to improve staking distributions for LAND holders without increasing net token emissions.
Starting on October 15th, the BUSD staking vault will no longer be supported on the Landshare platform. It is suggested that all users withdraw from the vault as soon as possible before it is no longer supported on October 15th. LAND emissions from the BUSD Vault will instead be added to a new LAND Staking Vault V3, which will replace the existing LAND vault with increased rewards.
As we continue to grow and adapt, so must our features. The BUSD staking vault was originally created at the start of our platform, and as we have evolved it is simply not compatible with our business model going forward. For this reason, we have made the decision to reallocate its rewards to LAND staking.
BUSD Closure Details
Effectively immediately, new deposits into the BUSD Vault will be disabled. 2 weeks later, on October 15th at 11:59 PM CST, support for the vault will officially end. To ensure all rewards are distributed, it is suggested that users withdraw from the vault as soon as possible. After the closure date, accrued rewards will no longer be available, and you will only receive your deposit back.
If you are having issues withdrawing from the vault during the closure process, please contact the Landshare Team at email@example.com or DM an admin from the Telegram group. Keep in mind that during the end of the closure process, withdrawals may fail. If this occurs, please contact the team, or try again later. All withdrawals and rewards are guaranteed up to and including October 15th. After this date, deposits will be airdropped to your wallet, sans rewards.
Land Vault migration
As part of the new reward structure, users will be required to migrate both V2 and Auto LAND deposits to the new V3 contracts. A 1-day grace period will be in place where the V2 vault will continue to produce rewards, after which only the V3 vault will produce rewards. Users can simply withdraw from the existing vault and deposit into the new vault when it goes live. More details on the new LAND Vaults will be made available before they go live.
OTC Asset Token Sales
Asset Token holders have been asking for a way to liquidate their Asset Tokens quickly and easily in the event they need to access their capital. While our Asset Token DEX is great for instantly buying and selling shares of real estate, the price impact can often be high for larger token amounts. Our upcoming OTC feature is designed to easily remedy this issue.
The OTC feature will allow you to buy or sell larger token amounts at a fixed rate, avoiding the price impact of the DEX. This feature will allow users to enter the number of tokens they’d like to buy or sell via the property’s overview page. Once the team processes the request, the user will be able to perform the swap at a fixed rate, without a significant price impact.
We expect this feature to go live in the coming weeks. In the meantime, you can still buy or sell Asset Tokens against LAND and BUSD pairs on DS Swap.
NFT Marketplace Update
Our NFT marketplace is getting an upgrade commonly requested by the community. Soon, you will be able to view previously sold NFTs, which can give you a better idea of the prices you should buy or sell at. Additionally, you can now sort and filters NFTs by cost, listing date, property type, and more.
There are several more updates planned for NFT holders and our NFT ecosystem. Stay tuned for more updates!
As we approach the launch of our next major feature, Tokenized House Flipping, we are focused on optimizing and polishing our existing features. Many of these new updates are the direct result of community feedback, so please be sure to visit our Telegram group and let us know what you’d like to see next!