Last updated 8 months ago
Real estate is illiquid, expensive, and lacks transparent fractional ownership. Cardano has no trusted model to bring properties fully on-chain.
TokenStay pilots tokenized real estate with fractional ownership, revenue sharing, and governance on Cardano. We launch an Estonia-based entity with people already having multiple on-chain Airbnbs
This is the total amount allocated to TokenStay - Tokenized Real Estate on Cardano.
Please provide your proposal title
TokenStay - Tokenized Real Estate on Cardano
Enter the amount of funding you are requesting in ADA
100000
Please specify how many months you expect your project to last
9
Please indicate if your proposal has been auto-translated
No
Original Language
en
What is the problem you want to solve?
Real estate is illiquid, expensive, and lacks transparent fractional ownership. Cardano has no trusted model to bring properties fully on-chain.
Does your project have any dependencies on other organizations, technical or otherwise?
No
Describe any dependencies or write 'No dependencies'
No dependencies
Will your project's outputs be fully open source?
No
License and Additional Information
Core smart contracts (escrow, voting, payouts) will be open-sourced. The platform UI will remain proprietary for security & sustainability reasons. This ensures community transparency while protecting the business model
Please choose the most relevant theme and tag related to the outcomes of your proposal.
Real Estate
Describe what makes your idea innovative compared to what has been previously funded (whether by you or others).
Our idea is innovative because it combines tokenized real estate with a proven short-term rental business model. Unlike prior proposals that focused only on theoretical tokenization, we will pilot with an Estonian-registered company and a partner who already operates 20+ Airbnbs ymanaged on-chain. By merging legal structure, governance, and real-world revenue streams, TokenStay will be the first fully compliant, revenue-generating real estate pilot on Cardano.
Describe what your prototype or MVP will demonstrate, and where it can be accessed.
The MVP will demonstrate a working tokenized property integrated into Cardano. Investors will be able to:
Buy fractional ownership tokens
Participate in on-chain governance votes
Receive revenue distributions from Airbnb rentals
The MVP will be deployed as a web dApp with wallet integration (Eternl, Lace). A pilot property will be tokenized under our Estonian legal entity, and token holders can verify real rental income via transparent on-chain reporting. The MVP will be accessible via browser
Describe realistic measures of success, ideally with on-chain metrics.
We will track measurable, on-chain outcomes:
1 pilot property tokenized under Estonian legal framework
Token holders with verified wallets
Governance votes
1 full revenue cycle completed, with rental income distributed to token holders transparently on-chain
≥100k ADA in transaction volume across investment, governance, and payouts
Success will be validated through open dashboards showing token distribution, vote participation, and payout records directly on Cardano.
Please describe your proposed solution and how it addresses the problem
SNEKStay enables real estate investors and users to participate in fractional ownership of properties fully integrated with Cardano. Our pilot will tokenize an Airbnb-style rental unit.
By establishing an Estonian legal entity, we ensure compliance with EU crypto-friendly laws, simplifying property tokenization and payout management. Token holders gain rights to revenue distribution, participate in governance votes (maintenance, upgrades, pricing), and can trade ownership stakes.
The platform leverages Cardano smart contracts for escrow, voting, and payouts, making it a transparent and efficient solution that bridges traditional real estate with decentralized finance.
Please define the positive impact your project will have on the wider Cardano community
Bridges real-world assets with Cardano.
Attracts serious investors while keeping community access affordable.
Positions Cardano as a leader in tokenized real estate.
Creates a scalable, repeatable model with global expansion potential.
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?
Our team combines blockchain developers, legal experts, and real estate professionals. With the operational know-how, feasibility is backed by proven real-world experience. The Estonian company structure ensures regulatory clarity. A pilot property will serve as a showcase, ensuring tangible success before scaling.
Milestone Title
Legal & Technical Framework
Milestone Outputs
Establish a legally compliant Estonian company as the operational backbone for TokenStay. Complete all legal research and compliance studies required to tokenize real-world real estate assets, ensuring the structure can scale to multiple properties.
Acceptance Criteria
Legal documentation confirming the Estonian entity has been incorporated, including licenses, compliance approval, and legal memos covering tokenized fractional ownership, revenue distribution, and property governance.
Evidence of Completion
Official company registration documents, signed legal compliance report, and a publicly accessible whitepaper outlining the token structure and legal framework. Shared with Catalyst community via project website.
Delivery Month
3
Cost
40000
Milestone Title
Smart Contract & Token Development
Milestone Outputs
Development and deployment of Cardano smart contracts to enable fractional tokenization, governance voting, and revenue-sharing. Tokens will represent ownership shares with built-in rules for payouts and rights enforcement.
Acceptance Criteria
Functional smart contracts deployed on Cardano testnet with open-source code available for review. Contracts must pass internal QA testing and demonstrate correct handling of token minting, voting, and simulated revenue distribution.
Evidence of Completion
Public GitHub repository containing smart contract code, documentation, and unit test results. Live demo.
Delivery Month
6
Cost
25000
Milestone Title
MVP Platform & Property Onboarding
Milestone Outputs
Launch a functioning MVP dApp with wallet integration. The platform enables investors to purchase fractional tokens, view property details, and participate in governance. First pilot Airbnb property is tokenized and onboarded.
Acceptance Criteria
Accessible MVP running in browser with user-friendly UI. At least one live property represented with token distribution completed. Token holders can interact with governance dashboard and vote on property-related proposals.
Evidence of Completion
Public URL of MVP dApp, screenshots of functional wallet integration, on-chain explorer links showing minted tokens and executed votes. Community demo video to Catalyst voters included.
Delivery Month
9
Cost
20000
Milestone Title
Revenue Cycle & Scaling Preparation
Milestone Outputs
Execute first full revenue cycle from pilot Airbnb property. Rental income is collected, distributed via smart contract to token holders, and reported transparently on-chain. Begin planning for onboarding additional properties and investors.
Acceptance Criteria
At least one payout transaction executed successfully to token holders. Governance vote held regarding reinvestment or revenue usage. Documentation of payout cycle and user feedback survey completed .
Evidence of Completion
Transaction hashes proving ADA payouts, governance records stored on-chain, investor survey results, and final report published with KPIs. Shared with Cardano community via website and social channels.
Delivery Month
12
Cost
15000
Please provide a cost breakdown of the proposed work and resources
Legal setup & compliance (Estonia): 40k
Smart contracts development: 25k
Platform dashboard & infra: 20k
Pilot property ops & launch: 15k
This budget ensures that all key aspects of the project are covered: legal incorporation and compliance in Estonia, development and audit of secure smart contracts, creation of a reliable dashboard and infrastructure, and full execution of the pilot property launch. Together, these cost items guarantee that TokenStay can move from concept to a fully operational pilot in a transparent and regulator-ready way.
How does the cost of the project represent value for the Cardano ecosystem?
For just 100k ADA, Catalyst funds the first real-world property tokenization pilot on Cardano with a trusted real estate operator already managing blockchain-based rentals. This creates a long-term bridge between Cardano and real-world investors, generating recurring adoption and transaction volume.
Terms and Conditions:
Yes
Maciej Giedzinski & Jesse Brooks - babysnek Founder team, backed by developers, legal experts and real estate experts, who alread have experience in tokenizing and fractionalizing real estate on chain.