The problem Realty solves

Realty addresses the challenge faced by property owners who lack funds for renovation or construction, as well as investors looking for fractional ownership opportunities without significant capital outlay. It aims to democratize Fractional Ownership in real estate investment. Here’s how it benefits both parties:

For Property Owners:

• Property owners often struggle to secure financing for renovations or construction, especially if they lack substantial capital or face obstacles with traditional loans.
• Realty allows owners to raise funds by tokenizing their property projects, enabling them to initiate renovations or build homes without upfront costs.

For Investors:

• Realty offers investors the opportunity to purchase fractional ownership in properties through tokenization, making real estate investment accessible with smaller amounts of capital.
• Earn monthly rental income from fractional ownership shares. Leveraging the potential rental yields of the properties tokenized on the platform.

How Realty solves on the Diamante Net Blockchain:

• Property owners tokenize their projects on the Diamante Net Blockchain, dividing ownership into tradable digital tokens representing fractions of the property’s value.
• Investors purchase these tokens using DIAM native tokens to fund property renovations or construction. In return, they gain fractional ownership and future monthly yields. And on claim of their yields, they gain NFTs that represent their certificate/proof of their claim.
• Owners use the raised funds to complete renovations or construction on their properties, enhancing their market value.
• Rental income from tenants is distributed monthly to token holders based on their ownership. Over time, investors benefit from property appreciation, enhancing their overall investment value alongside market conditions.

Challenges I ran into

During the development of Realty, we faced several significant challenges:

• Adoption and Learning Curve in DiamSDK: Integrating and effectively utilizing DiamSdk was a significant challenge that required a deep understanding of the Diamante blockchain. Overcoming these technical hurdles was crucial for enabling seamless asset trading and effective transaction management. This required extensive research, experimentation, and testing to implement the functionalities correctly and ensure they worked as intended.

• Asset Issuance: Issuing assets to a user requires a couple of transactions to go through like we have to do operation changeTrust and then mint/transfer the assets for NFTs and custom tokens, which takes a significant delay in interaction to the blockchain when rendering the UI during these processes. Optimized transaction handling and asynchronous operations improved UI responsiveness during asset issuance. This involved streamlining backend processes and optimizing API calls for quicker blockchain interactions.

• Wallet Integration: Initially encountered some challenges in integrating diam wallet with the application, Over time, we successfully resolved these challenges through diligent effort and troubleshooting.

The comprehensive documentation and Diamante Blockchain YouTube videos were instrumental in helping navigate these complexities. With these resources, implemented the necessary functionalities correctly and successfully ensured they worked as intended.