Project Team: ManuelMaccou, thinkDecade, NFThinker
CitaDAO collaborator(s): Ethan | CitaDAO
This post outlines the proposed grant from CitaDAO to BanklessDAO to develop content for CitaDAO’s protocol. The content will be distributed via Bankless’ medium, newsletter, social media, and podcast channel. CitaDAO offered $15k in fees to BanklessDAO with a split of $5k worth of $BANK (or any other preferred tokens - ETH, USDC, USDT etc) and $10k worth of CitaDAO tokens paid to BanklessDAO treasury.
CitaDAO’s vision is to accelerate mass adoption through real estate, an asset that’s familiar to every single society, and add legitimacy to the DeFi space. We are aligned with BanklessDAO’s vision to bring one billion users and we would like to leverage the social weight of BanklessDAO to spread awareness of our platform.
We believe CitaDAO will realize DeFi’s promise of creating a fair access ecosystem by removing some of the barriers to entry that prevented the unbanked and underbanked from accessing real estate as an asset class.
CitaDAO vision is to build Sustainable DeFi Yield Farms powered by Real Estate globally. We will leverage DeFi to improve liquidity, accessibility, and composability for the existing real estate ecosystem by creating interoperability with other DeFi applications/primitives operating on the Ethereum protocol.
The protocol has two sets of tokens, consisting of the CitaDAO platform governance token that represents governance rights to the platform, as well as the Real Estate Tokens (RET) that will benefit from the underlying Real Estate listed on the CitaDAO Platform. To facilitate a decentralized consensus alignment of the platform rules, the tokens will be issued on the public Ethereum Blockchain.
We will Introduce Real Estate On-chain (“IRO”) via the IRO process where the community decides the real estate which they will commit to bring on chain.
Every real estate will need to go through the IRO process, and only assets with sufficient commitment from the community will be tokenized.
Community members that staked their stablecoin to back the listing will receive Real Estate Tokens (RET), an ERC20 token with the right to buyout all other fraction holders to redeem the underlying real estate title IRL.
Eventually, CitaDAO wants to enable permissionless real estate listing by landlord globally. In the current launch version, we are focused on commercial real estate in the commonwealth countries (e.g. Canada, Australia, UK, Singapore, etc).
The project aims to promote CitaDAO’s IRO to the bDAO audience with the aim of
- Increasing awareness about CitaDAO’s upcoming launch;
- Increasing the number of users who interact CitaDAO’s Discord
The focus of the educational content will be on average to low experienced users who are not familiar with CitaDAO. A very simple and intuitive communicative style will be adopted.
Total Fees: $15k
We propose to split the fees to BanklessDAO with $BANK (or any other preferred tokens - ETH, USDC, USDT etc) and CitaDAO tokens from the foundation. The token and vesting contracts are currently not live.
CitaDAO believes in developing sustainable relationships with our strategic partners given the long-term nature of our project vision and mission.
We believe in aligning our success with our partners and therefore propose USD$5k in USDC or its $BANK equivalent, and USD$10,000 in CitaDAO tokens at TGE value with a vesting period of 48 months.
Given that 2% of all real estate TVL on our platform will accrue towards the CitaDAO treasury, and the positive correlation the real estate tokens will have with inflation, our CitaDAO tokens will increase in value as more real estate is introduced on-chain via CitaDAO permissionless platform.
We believe that over the course of 48 months, the value of CitaDAO tokens will far exceed its TGE value, thus benefiting both Bankless DAO and CitaDAO treasury while also providing Bankless DAO treasury a natural hedge against inflation on-chain, complementing Bankless DAO treasury of stablecoins and native tokens.
Most importantly, we value the voice of the BanklessDAO community and with the issuance of governance tokens to the treasury, we hope that we can bring in a diverse community to guide the future growth CitaDAO’s governance platform.
Grants committee to fund $10k BANK to education guild.
- Interview on CryptoSapiens
- AMA within bDAO discord hosted by NFThinker
- Features in newsletters
- DAO spotlight
- Sponsored spots within State of the DAO (subject to availability)
- Link of medium article outlining CitaDAO platform guide
- Education articles posted on Bankless’ platform (Medium)
- Short-form contents distributed via Twitter and IG posts from BanklessDAO’s social media
- 2 articles to be featured in International Media Node
Project Timeline and details
The first IRO launch date on Jan 7, 2022. The real estate getting tokenized is a $20.69 m real estate, located in the prime shopping belt in Cardiff City, Wales. The historic building is currently leased to HSBC with an annual rent review that provides stability of rental income to hedge against inflation. DocSend
Additional BanklessDAO member benefit
We see a lot of overlap with the bankless community and we’d like to offer CitaDAO governance token airdrop to anyone who holds >10,000 BANK to onboard a broader community to participate in our governance process. We would leverage BanklessDAO’s discord channel to help spread the message to the community and create a microsite for token holders to claim the airdrop.
In order to facilitate the governance process, we will set up a delegation mechanism to allow bDAO members to vote on CitaDAO’s snapshot.
- Yes - BanklessDAO to create content for CitaDAO
- Needs Revision