Ethereum-Based Uniswap Exchange Lists its First Real Estate Security Token | BTCMANAGER
Bitcoin, Blockchain & Cryptocurrency News
RealT, a real estate tokenization platform based in the United States, has announced that one of their properties, 9943 Marlowe St in Detroit, is being listed on Uniswap to gradually roll out their vision of bringing liquidity to the real estate market. As a naturally illiquid market, this is a major step for tokenization and real estate, especially given the success of Uniswap, November 4, 2019.
Yesterday’s Pipedream is Now a Reality
It wasn’t too long ago that everyone was buzzing about tokenizing real estate on the blockchain to facilitate liquidity through divisible tokens.
We have seen a number of real estate developers issue their tokens over a blockchain and raise money through the once prized, STO model. However, this is the first instance of a real estate token being listed on a widely used exchange.
RealT token holders make passive income off the rent paid by the tenant of the property. The entire process of setting up a tokenized property is slightly cumbersome, as it requires a separate limited liability company (LLC) so there is no counterparty and minimal scope for wrongdoing.
Uniswap integrates a blissful mix of decentralization and efficiency. Instead of having to match orders via an orderbook, anyone who wants to exchange a token just trades against the asset pool i.e. the contract. This is sometimes called “peer-to-contract” transactions.
Users residing in the United States cannot purchase RealTokens, owing to the strict regulations within the country.