From Vacancy to Vitality: Cardano DAO and RWAs Transforming 424,000 Homes into $33 Billion Economic Hubs

[GENERAL] Name and surname of main applicant

Chris Dai

[GENERAL] Are you delivering this project as an individual or as an entity (whether formally incorporated or not)

Entity (Incorporated)

[GENERAL] Co-proposers and additional applicants

Yi Liu

[GENERAL] Please specify how many months you expect your project to last (from 2-12 months)

10

[GENERAL] Please indicate if your proposal has been auto-translated into English from another language

No

[GENERAL] Summarize your solution to the problem (200-character limit including spaces)

Provide tool for issuing and exchange tokens of RWA DAOs to provide money and liquidity to social conscious projects that otherwise would not have started. Help the projects to get funding and users.

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

No

[GENERAL] If YES, please describe what the dependency is and why you believe it is essential for your project’s delivery. If NO, please write “No dependencies.”

No dependencies

[GENERAL] Will your project’s output/s be fully open source?

No

[GENERAL] Please provide here more information on the open source status of your project outputs

on-chain part can be opensource

[METADATA] SDG rating

ANGO DAOs one use case - the rehabilitation of vacant houses can contribute to SDGs 8 and 11.

SDGs Goal 8

With regard to 8 Decent work and economic growth, ANGO DAOs utilizes vacant houses (akiya) to create vacation rentals that are run by the community, thus creating job positions in rural areas where jobs are scarce. Also helping the rural economy to bring in more tourists and grow the economy through tourism.Currently, the initiative has the potential to engage 34 million users in the long term, significantly impacting local economies.

SDGs Goal 11

As for SDGs goal 11, sustainable cities and communities, instead of destroying the old houses and built new ones, which is costly and not environment friendly, ANGO DAO brings people from the cities to rural areas and renovate the vacant houses together and lower the cost to the society. ANGO tokens as reward token paid to the volunteers and can be used to redeem RWAs like free rent or food at local restaurants. ANGO believes that it can contribute to the comprehensive creation of livable towns (local revitalization).

[SOLUTION] Please describe your proposed solution

◼︎日本語はこちら（pdf）

Innovative solution to Japan's vacant property problem: building a community-driven property revitalisation platform using the Cardano blockchain.

Problem

Japan has a growing problem of vacant houses in rural areas, which is hindering the revitalisation of local communities and the health of the property market. Conventional financial instruments have limitations in terms of financing and management, and a new approach is needed to utilize vacant houses effectively. This issue is not just for vacant but also true for overlooked resources and assets in local communities. We hope to provide a common solution for the problem.

In addition, while we have implemented a prototype on Ethereum and appealed to domestic web2.0 users for ease of use, there are currently few connections with overseas real web3.0 ecosystems. In aiming to become a fundraising platform using RWAs and DAOs in web 3.0 not just in Japan but globally, we believe it is necessary to work with Cardano to create connections with the web 3.0 ecosystem at home and abroad, while attracting international web 3.0 users.

Prototype

The current prototype can be fully viewed here (schematic diagram of how it works):

Here is an overview of the current prototype.

ANGO-owned properties attract customers through various OTA sites (e.g. Airbnb) to generate main sales.The ANGO's properties are being developed and managed by DAOs for the properties.

DAO members contribute to the properties using their own expertise and receive reward tokens in return.Reward tokens can be redeemed for free nights in ANGO properties.

Currently ANGO is, A booking website for the general public, DAO members with their own token management screen.

Value of prototypes

ANGO brings three values to solve local problems.

First, it improves property utilization.

Realistically, by industry standards, it is very difficult to achieve an annual property utilization rate of more than 50% by attracting guests through overnight stays alone. Therefore, by opening up available dates to DAO members, the property utilization rate can be increased greatly.

Second, it lowers operating costs.

By enlisting the help of DAO members, the development and operation of properties can proceed without inflating resources within the ANGO. Not only that, but because ANGO DAO members are located throughout the country, property development can proceed quickly and on a large scale.

Third, new jobs are created.

In the future, ANGO reward tokens will be redeemable for access to all RWAs. The more diverse the redemption opportunities, the more DAO members will be able to contribute their talents to the ANGO. New employment opportunities will be created here.

Our approach

The ANGO project uses DAO and RWA NFT to transform vacant houses into attractive holiday homes run by the community. This will let people rediscover the attractiveness of the area and generate new economic activity, using the Cardano blockchain as a foundation, which will ensure transparency and attract investment from all over the world. we also hope to offer this platform to third party projects that share a similar vision.

In addition to our current prototype, we plan to Issue akiya property RWA NFTs to raise money from users. So users can own the RWA properties through DAO. 

Engagement

Local community members can be involved in the design and management of the project, thus creating a direct connection with the users. This builds trust and interest in the project and enables it to operate sustainably.

Specificity

This project is the first attempt to utilize real-world assets (RWAs) together with DAOs on the Cardano blockchain and proposes a new model for local development using decentralized technology and organization model. 

Importance to Cardano

If the project is successful, it will provide an opportunity for Cardano technology to be accepted by more companies and regions. It will also increase its credibility with other developers and investors as an example of the practicality and scalability of the Cardano blockchain. We can potentially bring in more than 34 million users to the Cardano ecosystem in the long run.

[IMPACT] Please define the positive impact your project will have on the wider Cardano community

◼︎日本語はこちら（pdf）

Setting KPIs (Key Performance Indicators)

To assess progress and achievements as an MVP, three KPIs are set as short-term targets.

1. Number of vacant house renovation projects: the number of vacant houses renovated within the timeframe from the start of the project is regularly measured. The target is to achieve 10 successful rehabilitations in the first year.
2. Users: number of people staying at the properties, local residents and members registered and actively involved in the platform. The target is to have 8000 users in the first year.
3. Annual occupancy rate: 36% (from past results)
4. Average number of guests: 6 (from past results)
5. Number of properties: 10 (from KPI 1 )
6. *Slightly discounted figure set as target to take account of duplication of guests.
7. Economic impact: the impact on the local economy is assessed in monetary terms, with indicators such as return on investment (ROI) and number of jobs created. The target is to generate a direct economic impact of at least 7.8 million dollar from the project in the first phase.
8. Number of users: 8,000 (from KPI 2)
9. Average tourism budget: 10,000 yen/stay (from ANGO)
10. Percentage allocated to employment: half of accommodation costs (hypothetical)

These KPIs are key indicators for measuring the specific impact of the project and are adjusted and optimized through regular reviews.

Expected Impacts

We estimate that the benefits that ANGO can provide in the Long-Term in collaboration with Cardano are as follows

1. Number of vacant house renovation projects: 424,000 units.
2. Number of vacant houses in Japan: 8.48 million.
3. ANGO & other projects using ANGO platform share: 5%.
4. Number of users Number of participants: 34 million (calculated from per capita KPIs)
5. Number of transactions: 68 million (at least 2 transactions/user)
6. Economic impact: $33 billion (calculated from per capita KPIs).

In addition, the following impact can be expected.

• Revitalisation of the local economy: new tourist destinations and accommodation facilities will be created through the renovation of vacant houses, increasing the number of visitors from outside the area and stimulating local commercial and service activities.
• Increasing property values: the value of the renovated properties increases, which in turn contributes to the revitalisation of the local property market as a whole.
• Fostering technological innovation: the use of the Cardano blockchain will increase transparency in property management and transactions. This also represents a new use case for blockchain technology and opens up the possibility of its application in other industries.

These effects aim to demonstrate the potential of the Cardano blockchain through the success of the project and lead to its wider adoption.

Building a cooperation structure

The ANGO project will deepen its engagement with the local community and other DAOs through the following cooperation structures

• Partnership with local communities and local DAOs: workshops and public discussions will be organized on a regular basis to enable local residents, DAOs and businesses to actively participate in the planning and implementation of the project. This will help develop plans based on local needs and promote community-based sustainable development.
• Technical support and education: we will provide educational programmes to engage local participants with Cardano's technology and provide enhanced technical support. This will reduce hurdles to the use of blockchain technology and promote the technology within the region.
• Collaboration with other Catalyst projects: we will collaborate with other Cardano community projects to share solutions to common challenges and mobilize resources to promote best practice globally.

Through these cooperation structures, the ANGO project will work closely with local communities and DAOs to support the development of the region as a whole and demonstrate the practical benefits of the Cardano blockchain.

[CAPABILITY & FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

◼︎日本語はこちら（pdf）

ANGO has already launched its services on Ethereum. So we believe we can do the same on Cardano.

ANGO has also been adopted as an official tool of the DAO Association of Japan and is one of the few projects in Japan, where limited liability company(LLC) - type DAOs are permitted, that can create many cases of projects utilizing both RWA and DAO.

ANGO will operate as a wholly-owned subsidiary of RECIKA and its personnel will be made up of RECIKA members.

RECIKA has been building solutions for the social use of NFTs, not only with ANGO, but also with other public companies such as UNICASK (https://unicask.jp/) and DigitalMe.

Our experience and past records ensure that the project is ready to be implemented with a high degree of reliability and transparency.

Thus, the team is very committed and the project has gained a great deal of credibility.

[PROJECT MILESTONES] What are the key milestones you need to achieve in order to complete your project successfully?

◼︎日本語はこちら（pdf）

Technical research and marketing preparation.

A: Milestone outputs

Milestone 1 includes the following key activities. Milestone 1 focuses on research on how to engage web3.0 international users, which the current prototype is not focusing on.

• Literature review on the issue.
• Research on international web 3.0 user needs.
• Research on technical aspects of RWA DAOs abroad.
• Interviews and analysis of relevant stakeholders.
• Prepare a technical research paper and a marketing paper summarizing the results of the above research.

B: Acceptance criteria

Finalize the market and technical research papers, publish them on Google Docs and share them with the Catalyst Challenge reviewers.

C: Evidence of milestone completion

Reviewers will have access to the market and technical research reports and will be able to review the following

Marketing research

Stakeholder interviews and analysis

Technical aspects of the project

Detailed action plan for the project

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Estimated timeline for delivery: 2nd month

Cost: 29,111 ADA ( $ 13,100 )

Completion rate: 15%

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Back-end & blockchain development.

A: Milestone outputs

Milestone 2 will include the following key activities

• Brainstorming and ideation based on the research paper
• Back-end development
• Blockchain development
• Demonstration screenshots or videos

B: Acceptance criteria

Catalyst Challenge reviewers have access to an explanatory demo presentation video.

C: Evidence of milestone completion

Explanatory demo video.

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Estimated delivery date: 5th month.

Cost: 65,556 ADA ( $ 29,500 )

Completion rate: 50%.

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Back-end and blockchain testing and bug fixes Total / Revenue.

A: Milestone outputs

Milestone 3 includes the following key activities

• Unit testing
• Manual testing
• Bug fixing
• Documentation

B: Acceptance criteria

Reviewers have access to an explanatory video on Youtube.

Reviewers have access to photos and sales listings.

Community members can access public session reports in a Google spreadsheet.

C: Evidence of milestone completion

Reviewers have access to the Youtube instructional video.

Reviewers have access to photos and sales lists.

Community members have access to public session reports.

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Estimated delivery date: 6th month.

Cost: 28,000 ADA ( $ 12,600 )

Completion rate: 65%.

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UI/UX design, front-end development, sales.

A: Milestone outputs

Milestone 4 will mainly involve the following activities

• Brainstorming and ideation of the design
• Finalization of UI/UX design 
• Completion of the design
• Front-end development
• Selling/hosting sessions (recording photos) 

B: Acceptance criteria

A walkthrough of these features will be filmed and the video will be posted on YouTube for community members to access.

Reviewers will have access to photos and sales lists.

Community members can access reports of the public sessions on a Google spreadsheet.

C: Evidence of milestone completion

Community members can review designs on Google Spreadsheet and walkthrough videos on Youtube channel.

Reviewers can access photos and sales lists.

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Timeline for delivery: 7th month

Cost: 21,778 ADA ( $ 8,600 )

Completion rate: 76%

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Final milestones.

A: Milestone outputs

The final milestone includes the following key activities

• Bug fixes
• Preparation of the project closing report
• These steps result in two deliverables: a closing report and a closing video.

B: Acceptance criteria

The following items are made available to the community for review

Project closing report

End-of-project video.

C: Evidence of milestone completion

Community members can access and review the project completion report. An end-of-project video is made available on Youtube for community members to view.

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Estimated timeline for delivery: 10th month.

Cost: 45,667 ADA( $ 20,550 )

Completion rate: 100%

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[RESOURCES] Who is in the project team and what are their roles?

◼︎日本語はこちら（pdf）

Chris Dai

Blockchain evangelist and co-founder and CEO of Japanese blockchain companies. Pioneered redeemable physical asset NFTs and successfully completed several NFTs sales. Focuses on inventing decentralized businesses in the non-financial sector utilizing blockchain technology. Deeply attracted to the decentralized model and its business, social and philosophical aspects. Advisor to Japan Blockchain Association, Committee member of the Investigation of Blockchain Utilization of Authentication Information of Japanese Positioning Satellites, and Research Institute of Economy, Trade, and Industry Blockchain research team member. 

Co-authored (2019) Next Blockchain: Ecosystem for Next Generation Industries. Nikkei Business Publications and (2020). Blockchain and Crypt Currency. Springer.

Yi Liu

CTO of Recika. Seasoned blockchain product manager. Lead system development for UniCask and ANGO. 

Possesses over 10 years of experience in system development at a major securities company, with deep knowledge in software engineering and project management. Completed a Master's degree in Engineering at Nagoya University.

Kento Honda

Joined RECIKA at the end of 2021 and became Business manager of UniCask in 2022.

He was responsible for the planning, design, sales and marketing of the world's first small batch whisky cask NFT.

As a result, the $40 million barrel sold out in nine minutes. He then sold the NFT in collaboration with seven IPs, and was also in charge of planning, coordination with various parties and marketing here.

In addition, as a POC for Livesola (a service that visualizes fan behavior and contributions in the form of NFTs and tokens), we organized a three-hour live broadcast using a TV station's studio.

He has also participated in other consulting teams for major automotive companies, and has experience in coordinating projects mainly using NFTs with a wide variety of stakeholders.

He has also been involved in ANGO since 2023. Currently, he is working with engineers on the development required to raise funds using NFTs in a limited liability company type DAO from new property development.

[BUDGET & COSTS] Please provide a cost breakdown of the proposed work and resources

Milestone 1

• Estimated timeline for delivery: 2nd month
• Cost: 29,111 ADA ( $ 13,100 )
• Completion rate: 15%

Milestone 2

• Estimated delivery date: 5th month.
• Cost: 65,556 ADA ( $ 29,500 )
• Completion rate: 50%.

Milestone 3

• Estimated delivery date: 6th month.
• Cost: 28,000 ADA ( $ 12,600 )
• Completion rate: 65%.

Milestone 4

Timeline for delivery: 7th month

Cost: 21,778 ADA ( $ 8,600 )

Completion rate: 76%

Milestone 5（final）

Estimated timeline for delivery: 10th month.

Cost: 45,667 ADA( $ 20,550 )

Completion rate: 100%

[VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?

The ANGO project, which carries out renovation of vacant houses and local revitalisation efforts offers a high investment value to the Cardano ecosystem. Although the project involves costs, these costs are well justified and cost-effective for the following reasons

(i) TVL (total value locked) increase.

Based on the following assumptions as described in the long term impact, we can expect TVL to rise by $55,120,000,000 ($55.1B).

• Number of properties: 424,000 units (see above)
• Property value: 20 million yen/unit
• Yen-dollar rate: 0.0065

This amount corresponds to approximately 650,000 times the investment amount.

Even if the number of properties is calculated for this MVP period (10 properties), a TVL increase of at least $1,300,000 (1.3 million) can be expected.

(ii) Rise in the number of users.

If we assume a Long-Term, we can expect an increase of 33,920,000 users, as described in the expected impact portion.

Calculating that each user will do so at least two transactions (grant and use of accommodation NFTs), we can expect more than 60 million transactions.

Other benefits can be expected to include.

• Driving technological innovation: a property management system powered by the Cardano blockchain will significantly increase transparency and efficiency, differentiating it from other blockchain platforms. This will trigger the adoption of Cardano technology in more industries.
• Building a sustainable local economy: attracting new commercial activity to the area through the rehabilitated vacant houses will have a direct economic impact on the local economy. The initiative is implemented with the support of the local community, thus promoting community involvement and support for the project.
• Expanding the ecosystem: by concretising property management as a Cardano use scenario and attracting new users and developers, the value and reach of the Cardano network is expanded.

In light of the above, the invested funds are expected to generate a high return on the expansion of the Cardano ecosystem and the funds are expected to be used effectively.