RealToro Real Assets Registry - Mortgage Smart Contract Test Trials, UI Development, and Audit

[GENERAL] Name and surname of main applicant

Patrick Serafin

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

Entity (Not Incorporated)

[GENERAL] Requested funds in ada

300000

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

9

[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)

• Continue building UI for real assets registry and marketplace to maturity
• Incentivized TestNet trials
• Produce an open standard for RWA tokenization
• Audit smart contract

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

Yes

[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.”

• MintMatrix Digital Assets
• MintMatrix DID
• Aiken

[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

The user interface will remain proprietary, although a formal specification for the contract interface will be released as well eventually the mortgage contract itself.

[SOLUTION] Please describe your proposed solution

• Continue building UI for real assets registry and marketplace to maturity
• Run formal incentivized testnet trials
• Produce an open standard for RWA tokenization
• Audit smart contract

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

Bringing realfi utility to Cardano.

[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?

An insane amount of progress is already complete and most of the hard parts are done. 3 Aiken contracts already complete and 2 years of front-end development (4 years including the deprecated php v0). Just need hands on deck for refinement and establishing legal standing.

Overall state:

• MVP Asset Minting & Smart Contracts: https://app.mintmatrix.io
• Documents
• Real Estate
• Aiken Contract: Fractionalization
• Aiken Contract: Mortgage
• MVP Credentialing System: https://did.mintmatrix.io
• Aiken Contract: Credential Vending
• R&D Level ZK-Proof (BTC Nonce): https://github.com/mach-diamond/risc0-nonce-proof
• To be converted for DID use in future

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

Close the loop on integrating base features into dedicated real estate dApp: https://RealToro.org

• Quick Mint Complete
• Mints randomly generated real estate RWA token (for streamlining testnet trials)
• Interface for creating mortgage contracts Complete
• Set up parameters and send base token into mortgage contract
• Search/Find Assets: Partially Complete
• Needs significant improvement

Develop legal process/basis for tokenized property with local jurisdiction.

Develop legal process/basis for mortgage smart contract.

Run 1st cohort of testnet users to discover bugs, receive feedback, and improve UX.

Run 2nd cohort of testnet users to discover bugs, receive feedback, and further improve UX.

Have a fully working, mature product.

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

Pat - Lead Engineer

David - Real Estate Law Consultant

TBD - Community manager for testnet users

TBD - Auditors

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

• Front end development
• Legal paperwork and proceedings
• To lawfully tokenize assets
• To lawfully handle mortgages
• Incentivized Testnet
• Participation payment
• Bug bounties
• Auditing (funding source for audit may come from elsewhere)

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

Many things are either already complete or awaiting integration. The money would be going towards refining and improving rather than R&D expenses.

This stuff is already complete:

• Mortgage smart contract
• Aiken script
• Prelim UI integration
• Documentation (50%)
• Fractionalization smart contract
• Aiken script
• Prelim UI integration
• Documentation (50%)
• Digital Identity / Credential token vending
• Tokenization framework for real assets
• NFT Asset Minting
• Wallet off-chain account system