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| Friday, 19 May 2023, 10:00 HKT/SGT | |
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Source: Citadao | |
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| CitaDAO successfully tokenised second real estate in Singapore: 18 Sin Ming Lane |
SINGAPORE, May 19, 2023 - (ACN Newswire) - In a notable step forward, CitaDAO is delighted to share the successful completion of its third Introducing Real Estate On-Chain (IRO) project. This achievement, the tokenisation of a prime industrial property in Singapore's bustling Midview City, exemplifies the company's commitment to broadening access to one of the world's top real estate markets. CitaDAO is proud to be part of the journey towards a new wave of real estate innovation, creating a bridge between traditional and decentralised finance.
 | CitaDAO IRO Success: 18 Sin Ming Lane, Singapore
Introducing Real Estate On-chain (IRO) - 18 Sin Ming Lane, Singapore |
Following the successful IRO, a legal transaction will occur before the Real Estate Tokens can be minted and made available for claiming. For the IRO participants, do follow our Twitter or Discord for the updates.
Key IRO Recap
- Address: 18 Sin Ming Lane, Midview City, Singapore
- IRO Value: US$635,000
- IRO Date: April 18, 2023, to May 16, 2023
Solving liquidity challenges
At CitaDAO, one of our core missions has always been to address the liquidity challenge that has long been a plague in the real estate industry. Our previous IRO, 20SML0253SG, has been a testament to our success in achieving this mission. Through the tokenisation of a prime industrial property in Singapore, one of the most vibrant real estate markets in the world, we've demonstrated the immense value that can be unlocked when real estate is tokenised. Not only did we create a more valuable asset by democratising access to this premium property, but we also ensured constant liquidity in the market by leveraging the concentrated liquidity pool of Uniswap v3. This was evidenced by the $290,000 (46% of the real estate value) in Total Value Locked in the 20SML0253SG RET, making secondary transactions more convenient for all token holders - proving that our vision for making a liquid real estate market a tangible reality was successfully accomplished.
In offering a vibrant secondary market for the RET, CitaDAO creates an opportunity for RET holders to boost their returns by assuming the role of market makers. By adding liquidity to the pool, they can earn liquidity provider rewards passively, a benefit that mirrors the traditional real estate investments.
A Catalyst for DeFi Expansion
The successful tokenisation efforts by CitaDAO have laid the groundwork for a significant growth catalyst for the DeFi sector. By unlocking new capital streams from yield-producing assets, the platform invites new users and capital into the DeFi space, consequently generating innovative opportunities and applications.
Conclusion
CitaDAO firmly believes that tokenising real-world assets is a critical driver for the mainstream adoption of DeFi. If you're intrigued by the process, we invite you to experience the future of real estate through CitaDAO's innovative IRO process and look forward to our next IRO - 15 West Halkin Street.
Contact Information:
Alex C
Marketing Manager
press@citadao.io
Topic: Press release summary
Source: Citadao
Sectors: Real Estate & REIT, Crypto, Exchange, Blockchain Technology
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From the Asia Corporate News Network
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