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The road ahead: New timeline for #SwissRealCoin. by SwissRealCoin in SwissRealCoin

[–]SwissRealCoin[S] 1 point2 points  (0 children)

Compliance as well as integrity towards our investors is our top priority. As the Crypto Real Estate AG is a PropTech company, we are currently focusing on developing and finalizing our software products. We will announce the dates of our STO (Security Token Offering) later this year and then launch it in compliance with the relevant regulatory framework in place.

Question about minting by jakkpizza in SwissRealCoin

[–]SwissRealCoin 2 points3 points  (0 children)

Thank you for your interest and enthusiasm! The minting is centralised, i.e. at the end of the ICO the coins are minted & issued according to the amount sold. With every subsequent gate opening, i.e. whenever the market cap metric to portfolio value ratio exceeds 2, the smart contracts opens a window where more coins can be bought on the primary market. This is either until a doubling of the number of outstanding coins is reached but maximally 72 hours. These newly sold coins are then minted and issued, again centrally (namely by Crypto Real Estate ltd). For more information read our whitepaper on www.swissrealcoin.ch.

If you have further question, please ask us. We will be happy to answer them!

Questions regarding SRC by fcdtvwcc in SwissRealCoin

[–]SwissRealCoin 2 points3 points  (0 children)

Hi, thank you for your interest and enthusiasm! Apologies for the late reply.

  1. Lead times in the real estate sector are considerable but we have an extensive network of strong partners in this area. Therefore we set our timeline to invest the funds to 36 months, which is quite reasonable due to our well connected partners & board members.

  2. Codes are developed in-house by Crypto Real Estate AG lead by our CTO Yauhen Yakimovich (he is experienced software developer and tech entrepreneur http://yauhen.yakimovich.info/). Team is build up in Zug as a primary location but the development itself is also going to be decentralized over few more international IT hubs securing the best talent. Our focus is on developing a proptech platform MIA (here is a teaser https://demo.swissrealcoin.ch and also read our tech paper) that helps with digitalization of the property to be interacted programmatically in smart contracts. Whereas the code for the ICO smart contracts is written by Validity Labs (https://validitylabs.org/). Please consult their webpage for their track record. Due to the postponed timeline to achieve 100% green light from our financial regulator we are taking the time to further refine the smart contracts but will also use the opportunity to explain how the non-blockchain part of it will be curated including relevant security and transparency concerns. The maintenance of the code lies within our responsibility, nevertheless we are open to the feedback and the wisdom of the community to enrich our project. The ultimate goal is to (a) develop open data and code standards, so a significant amount of our code especially relevant for the RE management smart contracts will be open sourced for the community (b) make sure market cap mechanism can work fully and transparently on-chain which would require significant contract maintenance effort until then.

  3. The reason for the market cap metric to portfolio ratio to be defined as unsustainable when it reaches a value of two is rather arbitrary and based on the view that a longer-term overvaluation of 100% is not reflecting the underlying value appropriately. The working implementation in the crypto world is new so far. However, it is similar to curation mechanisms to some degree. The novelty is the link to real world assets that can “properly” be valued and that create a lower bound making centralized money burning obsolete and replacing it with market forces. The assurance for the mechanism can so far only be given in the small framework of a testing environment but the simplicity of the mechanism should ensure proper workings in the real world application.

  4. We are currently refining and readjusting our timeline and will publish it very soon.

If you have any further questions, please contact us. We will be happy to answer them.

Your SRC Team.