SAN FRANCISCO, October 18, 2022 (GLOBE NEWSWIRE) — roof stockis a leading digital real estate platform dedicated to single family rental (SFR) properties, today Roofstock onChain (ROC), its web3 subsidiary. ROC facilitates the immediate sale and settlement of single family rental (SFR) properties listed on the ROC. NFT Marketplace powered by origin protocolThis property in Columbia, South Carolina is the first USDC sale with on-chain finance. By leveraging web3 technology, property purchases can be made more efficiently, transparently and at a lower cost than traditional residential real estate transactions.
“I never imagined that I would be able to buy and finance a home with just a click without going through the time-consuming and cumbersome traditional payment and mortgage process. Thank you for opening up,” said Adam Slipakoff, a buyer of SFR South Carolina real estate and a veteran real estate investor. “Instead of waiting months for underwriting, appraisals, title searches and preparing deeds, we were able to purchase a fully titled, ready to rent property with one click. Best of all, I’m no web3 expert, and the Roofstock onChain platform has made Web3 simple and easy.”
Each house is owned by a limited liability company, and that ownership is tied to a unique Home onChain, an NFT on the Ethereum blockchain. Each home on-chain is transferred using a smart contract deployed on the Ethereum network, and the entire transaction happens transparently on the blockchain.
“For Roofstock, providing a radically simple way to buy and sell SFR properties in one click using web3 technology is a major milestone. We are ushering in a new era of real-world asset ownership through our partnership with Roofstock onChain,” added Sanjay Raghavan, head of the web3 initiative at Roofstock onChain.
of teller protocol Used to provide financing options for current and future properties. Buyers can ask for a loan up to 80% of the NFT’s selling price. USDC Homes, a DeFi lending pool maintained by the Teller Protocol. USDC Homes is not affiliated with Circle, the publisher of USD Coin (USDC) and Euro Coin (EUROC). USDC Homes partners with a network of underwriters and data providers to verify identities and provide credit reviews to lenders. Buyers can seamlessly convert USD to USDC. wireThe teller has tapped polygon Facilitating loans with Polygon’s low gas rates and decentralized network.
“Teller’s USDC Homes Lending Pool connects the real estate market with DeFi. We are excited to see USDC Homes ramping up its fundraising capabilities in the real estate market on Roofstock onChain. Currency loans can now be used to finance real estate purchases,” said Ryan Berkun, Founder and CEO of Teller.
Circle Chief Revenue Officer Kash Razzaghi said: “Circle is excited to work with Roofstock to bring the benefits of USDC – a more efficient, secure and transparent way of exchanging value over the internet – to the world of real estate.”
Liquidity providers offer individual mortgages to borrowers through Teller’s USDC Homes pool. USDC Homes also offers both unsecured and secured lending options where ETH, BTC, USDC and other popular coins can be offered as collateral. All loan-related transactions take place on-chain, but borrowers can include off-chain data, such as their credit score, when applying.
“Reducing brokerage fees is one of the pillars of Web3 and this is just the beginning. We will see a more efficient and liquid marketplace,” said Matthew Liu, co-founder of Origin Protocol.
As with all Teller pools, users can participate as lenders or borrowers. Borrowers can submit loan requests to finance the purchase of USDC Homes Home on Chain (NFTs tied to underlying SFR properties). Once the lender approves and funds the borrower’s request, the USDC Homes platform will use the funds to purchase his LLC NFT, and then convert the NFT into multisig his, until the borrower has repaid the entire loan with interest. to the escrow account, which is the wallet of Polygon network.
“The Roofstock team is innovating at the forefront of real estate financing. Roofstock onChain allows buyers to efficiently fund SFR properties without going through the traditional payment process. With low gas prices and robust security, we are excited to be the foundation for the next phase of DeFi,” said Hamzah Khan, Head of DeFi at Polygon.
“We are thrilled to continue bridging the transition between traditional and digital economies by being the gateway to crypto for USDC-purchased real estate NFTs.” Yani GiannarosCEO and co-founder of Wyre.
About Roofstock On Chain
Roofstock onChain is a web3 subsidiary of Roofstock, the leading digital real estate investment platform for the $4 trillion single-family rental housing sector. Using blockchain technology, Roofstock onChain offers investors the ability to buy tokenized single-family rental properties in one click and transact with cryptocurrencies, reducing the time and costs associated with legacy systems. .
Roofstock offers extensive resources for investors to actively participate in the SFR space, including data analytics, connections to property managers and contractors, and other management tools. Founded in 2015, Roofstock has to date facilitated over $5 billion in investment deals.
To learn more or get started with Roofstock onChain, visit onchain.roofstock.com.
Teller A market-participant driven DeFi (“decentralized finance”) protocol that enables the lending and borrowing of unsecured digital assets. The Teller Protocol achieves this through an open order book model that allows participants to share commonly used off-chain credit data with on-chain loan requests.
Marketplaces and lending platforms can integrate Teller Protocol to fulfill loan requests, allowing lenders to make decisions about which loans to make based on added borrower data. The Teller Protocol expands the reach of potential market participants for digital asset lending, fosters DeFi adoption, and ultimately a new class of cryptocurrency loans tied to both off-chain and on-chain credit signals. Promote product development.
About the origin protocol
Founded in 2017, Origin Protocol is a web3 pioneer developing innovative products in the fastest growing industries of non-fungible tokens (NFTs) and decentralized finance (DeFi) cryptocurrencies. Origin’s NFT Platform, origin storyThe platform’s NFT product, , led to 3LAU’s record-breaking $11.7 million in music sales, global headline-making Charlie Bit My Finger’s viral video sales, and Paris Hilton’s iconic “Past Lives, New Beginnings” series. Promoted sales of NFTs, such as drops of In addition to development, Origin has worked with top NFT creators such as Trevor Jones and Alotta Money, as well as brands such as Rolling Stones and Inspiration4/SpaceX. brand marketplace Beloved NFT collections like Pudgy Penguins and Karafuru.
About the wire
Wre is a leading payments infrastructure company built for the cryptocurrency ecosystem. Focused on developers, the company offers easy-to-integrate APIs, enabling thousands of developers to bring cryptocurrencies to the masses. The company has “thrown” over 15 million end-users into its partners and has processed over $10 billion in payments since inception. Wyre’s flagship product, Checkout, is the world’s fastest fiat-to-crypto gateway, helping hundreds of cryptocurrency applications better reach their customers. Wyre has been active in the cryptocurrency space since his 2013, supporting customers in over 100 countries around the world and providing seamless access to blockchain technology. For more information, see: www.sendwyre.com.
polygon is a leading blockchain development platform providing scalable, affordable, secure and sustainable blockchains for Web3. Its ever-growing product suite gives developers easy access to leading scaling solutions including L2 (ZK Rollup and Optimistic Rollup), Sidechain, Hybrid, Standalone, Enterprise Chain, and Data Availability. Polygon’s scaling solutions are widely adopted with over 53,000 distributed applications hosted, over 2.1 billion total transactions processed, over 174.9 million unique user addresses, and over $5 billion in assets protected. I’m here. The network is home to some of his biggest Web3 projects like Aave, Uniswap and OpenSea, as well as big name companies like Meta, Stripe and Adobe. Polygon is carbon neutral and aims to lead the Web3 ecosystem to become carbon negative.
If you’re an Ethereum developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your dApps and get started here.
Roofstock on-chain media
Kayla Gill | Serotonin
origin protocol media contact
Shira Berg | Autumn Communications