We are excited to announce that Redlight has partnered with HOM DAO, the creator of the HOM-NFT Minting App, the HOM Protocol, Vote-to-Earn staking awards, and a completely decentralized finance approach to real estate lending; The Title app.
HOM DAO is a Decentralized Autonomous Organization (DAO) currently on Polygon blockchain, however, they will be launching their Title App Token on Redlight Chain, which has complex mechanics, made possible by our gasless blockchain.
HOM DAO has an immense pool of talent behind it, including;
HOM DAO also boasts a solid team of advisors, you can read more about here.
HOM DAOs key partners include Crowdbotics, Polygon, Attom, KYC-Chain, Hampsons Attorneys at law and Zuber Lawler.
HOM DAO is committed to providing access to safe, sustainable housing for everyone, backed by NFT Technology with real-world utility.
They are currently creating the HOM-NFT Minting Web-App, which is a permissionless platform that allows property owners to convert their physical real estate property into an NFT called a Digital Title Certificate (DTC). This makes it possible for property owners to be able to buy, sell, rent and even finance properties on Redlight Chain, which means they can facilitate many forms of real estate transactions at a lower cost with more security, transparency and speed than ever before.
DTCs will also be able to track the chain of ownership for a range of physical goods, including real estate, automobiles, boats, and eventually other types of assets such as stocks.
Alongside the NFT Minting platform, they will also be creating a blockchain based land registry system, which means every NFT minted will have its information (Metadata) added to a distributed ledger of properties from around the world. This is a key step in transparency for property ownership records on a global scale.
Parts of the world that previously had no land registry will be able to leverage this technology to instantly boost their economies, as the immutable ledger of public information becomes freely accessible to everyone with an internet connection.
The TITLE Token acts as a five-year loan provided to HOM DAO for the Title App project, which will earn 10% interest annually, paid out in TITLE Tokens. The loans are secured by the cash flow generated by Title App's Software-as-a-Service.
Having a protocol such as the Title App on our blockchain is a big step towards global mass adoption. Thanks to HOM DAOs experience in their respective fields, this partnership is going to put more eyes on Redlight Chain, and further showcase the barriers that are broken thanks to the power of being gasless.
The partnership between Redlight Network and HOM DAO is poised to revolutionize the transfer of ownership across various industries. The launch of the TITLE token will pave the way for more transparent and efficient ownership transfers, saving time and money for everyone involved.
Once a year title token holders will be able to participate in DAO voting, with higher participation resulting in higher rewards paid out to holders. This encourages community decisions to be made and decided on by everyone involved in the project.
The launch of the TITLE token will take place on Redlight Chain's decentralized exchange, DawnSwap, on May 21, 2023 at a starting price of $1.00. The initial offering will consist of 1,000,000 TITLE tokens, with a maximum of 10,000,000 TITLE loan tokens to be released, based on demand. The tokens can be purchased on DawnSwap using USDT-R.
As part of the launch, anyone interested can participate in the whitelist by filling out a Google Doc, which requires users to KYC. If you participate in the whitelist, you will be able to purchase TITLE Tokens for a discounted price of $0.90/token. Please note that TITLE will not be available to US citizens. You can access the Google document by clicking on this link:
The Title App Litepaper: https://hom-dao.gitbook.io/hom-dao/the-title-app/the-title-app-litepaper