Chaincrib | Tokenizing RWA Real Estate Properties On Cardano

[GENERAL] Name and surname of main applicant

Xetinol Gakure

[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

Brian Savelkouls: https://pt.linkedin.com/in/briansavelkouls

Heraldas Gendvilas: https://www.linkedin.com/in/heraldas-gendvilas-35765720

Andrew Chong: https://www.sbcsustainability.com/speakers/andrew-chong

Izu Obazie: https://uk.linkedin.com/in/izuchukwu-obazie-741b342a1

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

6

[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)

Chaincrib leverages the Cardano blockchain to enable fractional ownership of real estate, significantly reducing entry barriers and making investment accessible and affordable to a broader audience.

[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?

Yes

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

All our Cardano / Aiken tokenization contracts will be open sourced if funded.

[METADATA] Horizons

Real Estate

[SOLUTION] Please describe your proposed solution

Understanding The Problem Faced When Traditionally Investing In Real Estate

The traditional real estate market presents significant barriers to entry, primarily due to high initial investment costs and complex management requirements. This restricts access for a large segment of potential investors, particularly those from lower income brackets or with limited capital.

Furthermore, the lack of liquidity in traditional real estate investments makes it challenging for investors to exit positions without substantial time delays or financial penalties.

Our Approach

Chaincrib addresses these challenges by leveraging blockchain technology & on-chain smart contracts (Cardano & Aiken specifically) to tokenize real estate properties.

This method allows for fractional ownership, significantly lowering the entry barriers and enabling more people to invest in real estate with much smaller capital outlays.

Our approach is grounded in making real estate investment accessible, transparent, and liquid, aligning with the principles of democratization of assets, which is a core value of the Cardano ecosystem.

Engagement Strategy

Chaincrib will engage a broad spectrum of stakeholders:

Investors: From small-scale to institutional investors looking for accessible real estate opportunities.

Real Estate Developers: Who can access a new avenue for property funding and investment.

Local Communities: Benefiting from increased investment in their real estate markets.

Demonstrating Impact

We will measure and demonstrate impact through:

Investment Volume Tracking: Monitoring the volume and diversity of investments on our platform.

Investor Demographics Analysis: Evaluating the broadening base of real estate investors, especially focusing on previously underrepresented groups.

Economic Impact Studies: Conducting periodic assessments on how investments influence local real estate markets and communities.

Uniqueness and Importance to Cardano

What sets Chaincrib apart is its integration with the Cardano blockchain, which is not merely for transactional purposes but also taps into Cardano’s strengths in security, scalability, and sustainability.

Our platform:

Utilizes Aiken smart contracts for transparent and immutable transaction records.

Ensures lower transaction fees and faster processing times, enhancing user experience and investment turnover.

Contributes to the Cardano ecosystem by broadening the use case for ADA and showcasing

Cardano’s capability beyond mere currency or simple contracts.

Why This Matters

Chaincrib’s innovation lies in transforming real estate — one of the oldest and largest asset classes — through modern blockchain technology.

By doing so, we not only provide a new investment platform but also foster broader economic participation and wealth distribution.

Our solution highlights how Cardano’s advanced blockchain technology can be harnessed to solve practical, large-scale problems, thereby promoting financial inclusion and economic diversification.

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

Value to the Cardano Community:

Chaincrib’s project directly aligns with Cardano’s overarching goal of fostering blockchain innovation and democratizing financial services. By introducing a real estate tokenization platform on Cardano, we facilitate:

Broader Adoption: Increased overall transactions and utility of the Cardano blockchain.

Increased Liquidity: We are adding liquidity to the Cardano ecosystem as we're utilizing and bringing RWAs on-chain.

Showcasing Cardano’s Capabilities: Demonstrating Cardano's scalability and robustness through the handling of high-value, complex real estate transactions, thereby attracting more developers and projects to the ecosystem.

Community Growth: Expanding the Cardano community by attracting a diverse group of users, from real estate investors to fintech enthusiasts, who may not have previously engaged with blockchain technologies.

Measuring Impact

Quantitative Metrics:

Transaction Volume: Track the volume and value of transactions conducted in ADA on Chaincrib, demonstrating increased usage of the Cardano blockchain.

User Growth: Measure the increase in new wallets and active users engaging with the Cardano blockchain as a result of our platform.

Investment Diversification: Analyze the types and locations of properties listed, showcasing the global reach and inclusivity of the Cardano blockchain.

Qualitative Metrics:

User Satisfaction and Feedback: Through surveys and community engagement, gather feedback on the usability of the Cardano blockchain for real estate transactions and improvements made possible by our platform.

Case Studies: Develop detailed case studies on successful real estate investments made through Chaincrib, illustrating the practical benefits of using Cardano for large-scale asset tokenization.

Sharing Outputs and Opportunities

Communication Channels:

Community Updates: Regular updates via Chaincrib’s and Cardano’s official social media channels, blogs, and forums to keep the community informed about progress, milestones, and success stories.

Workshops and Webinars: Host educational sessions that not only promote our platform but also teach about Cardano’s technology, driving deeper understanding and engagement within the community.

Collaborations with Other Cardano Projects: Partner with other projects within the ecosystem to cross-promote and develop integrations that enhance the utility of ADA and the Cardano platform.

Open Access Data: Provide open access to non-sensitive data generated by our operations for research and development purposes, encouraging innovation and supporting new academic and commercial projects on Cardano.

By measuring our impact through these methods and openly sharing the results, Chaincrib will actively contribute to the growth and development of the Cardano ecosystem, bringing real-world utility and visibility to Cardano’s advanced blockchain capabilities.

[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?

We believe that we have the Capability to Deliver with Trust and Accountability

Team Expertise and Experience:

Our team is composed of experienced professionals from the fields of blockchain technology, real estate investment, finance, product development and product management.

Our founding team have worked with several high-profile projects in these sectors, demonstrating deep industry knowledge and management capability.

We have also onboarded a financial advisor to ensure our books are in order.

Transparency and Communication:

We commit to maintaining high levels of transparency and regular communication with all stakeholders.

This includes:

Monthly progress reports shared via our website and community forums.

Conducting regular financial audits by an independent third party, the results which will be made public.

Open community Q&A sessions to address any concerns and gather feedback from the Cardano community.

Feasibility Validation:

Proof of Concept (PoC): Before launching, we have developed a PoC to demonstrate the technical viability of our real estate tokenization platform on the Cardano blockchain. You can view the POC here: https://chain-c.vercel.app/dashboard-portfolio

Beta Testing: Conduct extensive beta testing with a closed group of users to refine our platform, fix bugs, and ensure usability and security.

Partnerships with Industry Experts: Collaborate with real estate experts and legal advisors to ensure that our business model is compliant with real estate laws and blockchain regulations.

Demonstration of Trust and Fund Management:

Detailed Budget Plans: We will provide detailed, itemized budget plans for how funds will be allocated and spent, available for public review.

Risk Management and Mitigation:

We have a detailed risk assessment framework and contingency plans in place to address potential challenges.

These include:

Technological risks, addressed through continuous testing and updates.

Market risks, mitigated by adaptive business strategies and ongoing market analysis.

Legal and compliance risks, managed through constant updates from our legal advisors specialized in real estate and blockchain technology.

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

To streamline the Chaincrib project plan, we have consolidated our plans into three major milestones, ensuring each milestone has clear outputs, acceptance criteria, and evidence of completion as per the guidelines provided.

Prototyping & Platform Development

A: Milestone Outputs

Initial user interface and transaction functionalities built.

Development and deployment of a functional prototype on the Cardano testnet.

B: Acceptance Criteria

Successful integration with the Cardano blockchain and basic functionalities such as user onboarding, property tokenization and purchase are operational.

No critical vulnerabilities reported by the third-party security audit.

Positive feedback from initial user testing indicating the platform’s usability and security.

C: Evidence of Milestone Completion

Deployment logs and testnet transaction records.

Security audit report published on the Chaincrib website.

User testing feedback report and revised UI screenshots.

Beta Testing and Platform Launch

A: Milestone Outputs

Launch of the closed beta version to a select group of users.

Addressing feedback and final adjustments leading to the full platform launch on the Cardano mainnet.

B: Acceptance Criteria

Engagement of at least 100 active beta testers with a satisfaction rate exceeding 80% measured through a quarterly survey.

Successful mainnet launch with all core functionalities working as expected

C: Evidence of Milestone Completion

Beta testing engagement report and analytics.

Mainnet launch announcement and operational data.

Expansion and Scalability

A: Milestone Outputs

Expansion of property listings and user base.

Establishment of new partnerships with real estate and financial entities.

Continuous platform improvements based on ongoing user feedback and technological advancements.

B: Acceptance Criteria

Increase to over 3 property listings on the platform.

User base growth to over 1000 registered users.

Successful integration of new features and improvements, as evidenced by user adoption and enhanced platform performance.

C: Evidence of Milestone Completion

Updated property listing and user registration reports.

Signed partnership agreements and press releases.

Release notes for platform updates, user feedback surveys, and performance metrics.

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

Current Chaincrib Team Members:

1. Eli Xetinol - Founder / CEO

• Role & Responsibilities: Eli leads the strategic vision and overall execution of Chaincrib, focusing on aligning business goals with market opportunities, overseeing company operations, and leading the executive team.
• X Profile: https://twitter.com/xetinol
• Engagement: Eli plays a crucial role in forming strategic partnerships and securing funding to fuel the company's growth. He is an active participant in community discussions on platforms like Discord and Telegram.

2. Brian Savelkouls - Co-founder / CTO

• Role & Responsibilities: Brian is responsible for overseeing the technical strategy of Chaincrib, including the development and integration of blockchain technologies and maintaining high standards for system security and architecture.
• LinkedIn Profile: https://www.linkedin.com/in/briansavelkouls/
• Engagement: He is actively involved in the blockchain development community, establishing a robust network of developers and contributing to technical thought leadership in the space.

3. Anna Ten Bensel - Co-founder / CTO

• Role & Responsibilities: Anna works closely with Brian to ensure that the technical strategy of Chaincrib, including the development and integration of blockchain technologies maintains a very high standard.
• LinkedIn Profile: https://www.linkedin.com/in/anna-ten-bensel-576657124/
• Engagement: She is actively involved in the blockchain development and github community where she has established a robust network of developers.

4. Obumma Ernest - Software Engineer

• Role & Responsibilities: Obumma is focused on the development and optimization of the Chaincrib platform, implementing new features, enhancing system performance, and ensuring the technical robustness of the platform.
• X Profile: https://twitter.com/Ernyxt
• Engagement: He collaborates closely with the technical team to innovate and refine Chaincrib's technological offerings.

5. Heraldas Gendvilas - Social Media Manager

• Role & Responsibilities: Heraldas manages all social media channels for Chaincrib, crafting content strategies that enhance engagement, driving brand awareness, and nurturing an active online community.
• LinkedIn Profile: https://www.linkedin.com/in/heraldas-gendvilas-35765720

6. Richmond - Product Designer

• Role & Responsibilities: Richmond is responsible for the design and user experience of the Chaincrib platform, ensuring the interface is user-friendly, aesthetically pleasing, and optimally designed for user engagement.
• X Profile: https://twitter.com/OhaleweRichmond

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

For a comprehensive and transparent cost breakdown of the proposed Chaincrib project, we've segmented the budget according to the phases outlined in our plan, covering all necessary resources including third-party services, software licenses, and other operational costs.

The breakdown will ensure that every financial aspect is accounted for and aligns with our overall project goals.

Cost Breakdown by Project Phase

1. Version 0.1 Development

Renumeration for Developers and Project Managers: ₳45,000 (We estimated a total of 530 developer housers for the development of Chaincrib Platform Frontend, Backend Infrastructure Development & Project Managers).

Third-Party Services:

Legal Services for Compliance, Property DAO Set Up and Structure: ₳12,000

Server Costs & API Subscriptions: ₳7000

Total for Phase 1: ₳64,000

2. Further Development, Security Auditing and Beta Testing

Code Auditing by Third-Party Security Firm: ₳20,000 (Negotiating a focused audit covering only the most critical aspects of the code).

Beta Testing Infrastructure: ₳5,000

Efficient use of existing infrastructures to reduce costs.

Community Engagement and Feedback Collection: ₳2,500 (Leveraging organic engagement strategies and digital tools to collect feedback).

Total for Phase 2: ₳27,500

3. Launch and Marketing

Marketing and Publicity: ₳20,000 (Concentrated marketing efforts on digital platforms to maximize reach and minimize costs)

Launch Operational Costs: ₳15,000 (To ensure a smooth launch by monitoring all vital points to enhance efficiency at launch).

Total for Phase 3: ₳35,000

Total Project Cost (Phase 1-3): ₳126,500 (This Is For The Entire Duration Till The Closeout Period 

Expansion and Scalability (Would Require External Budgeting)

Adding Additional Rental Real Estate Listings and Partnerships

Scalability Infrastructure Upgrade

Community Growth, Management and Engagement

Budget Management

A dedicated financial officer will be appointed to manage the budget, ensuring all expenditures are tracked and reported transparently. Regular financial audits will be conducted, and results will be shared with the community via quarterly reports.

This budget plan is designed to cover all necessary costs within the next 3 quarters while ensuring that the Chaincrib project adheres to high standards of quality, security, and community engagement.

By managing our resources wisely and leveraging both community and private funding, we aim to deliver a robust and sustainable tokenized real estate platform that meets the needs of the Cardano community and real estate investors worldwide.

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

The budget allocation for the Chaincrib project on the Cardano ecosystem has been meticulously planned to ensure that each dollar spent not only contributes directly to the tangible outputs and milestones of the project but also enhances the value of the Cardano ecosystem itself.

Here’s how the project represents value for money:

Justification of Costs

Development and Infrastructure Costs:

Blockchain Development Tools and Infrastructure: The Server costs allocated are based on industry-standard costs for secure, robust server cloud environments for blockchain development and they are essential for building on a complex platform like Cardano. These tools are necessary to ensure the platform's functionality and security from the outset.

Salaries for Developers and Project Managers: The ₳45,000 budget for the entire six month duration is justified by the fact that it’s at par or even below with the average wage for blockchain developers and project managers in the industry.

We have priced this based on the median salary data from global and regional benchmarks, ensuring we attract skilled professionals while remaining cost-effective.

Third-Party Services:

Legal Services: The ₳12,000 allocated reflects the specialized nature of legal advice in blockchain and real estate, ensuring compliance with both financial regulations and real estate law. These costs are consistent with market rates for legal services in these niche areas.

Security Auditing: The ₳20,000 for a security audit by a reputable third-party aligns with the average cost for comprehensive smart contract audits, critical for maintaining user trust and securing investment.

Marketing and Community Engagement

Marketing and Publicity: The focused budget of ₳20,000 for marketing is designed to efficiently utilize digital marketing strategies that provide high ROI, ensuring broad reach and effective community engagement at a lower cost.

Value for Money for the Cardano Ecosystem

Enhancing Cardano’s Utilization: By facilitating real estate investments on the Cardano platform, Chaincrib significantly increases the use cases for ADA, enhancing its utility and demand, which directly benefits the Cardano ecosystem’s growth and valuation.

Driving Adoption: The project introduces new users to Cardano, potentially increasing the user base and fostering broader adoption of ADA.

Showcasing Innovation: By successfully implementing a real estate tokenization platform, Chaincrib highlights Cardano's capabilities in handling complex, high-value transactions and smart contracts, positioning Cardano as a leader in blockchain innovation.

Community and Stakeholder Benefits: The project’s focus on community engagement and governance aligns with Cardano’s ethos of creating a more transparent, inclusive, and participatory financial ecosystem.