CitaDAO integrates Chainlink to carry tokenized actual property to DeFi

CitaDAO is integrating industry-leading oracle resolution Chainlink to unlock tokenized actual property use circumstances in DeFi. CitaDAO is making a Actual Property powered Decentralized Finance (DeFi) ecosystem on Ethereum that options sustainable yield farms powered by actual property which are composable with DeFi functions.

The combination will leverage Chainlink oracle infrastructure to offer a dependable actual property valuation information feed to the DeFi ecosystem—an important spine for protocols and builders wanting to construct trustless decentralized functions utilizing actual estate-backed tokens.

Chainlink nodes will present appraisal information sourced from world-class world actual property consultancies comparable to CBRE, Savills, Knight Frank, JLL, and Cushman & Wakefield. The information is cryptographically signed in order that the patron of the info feed is aware of that it got here instantly from a recognized, dependable supply. Good contract builders can use the Chainlink node as a worth oracle to create primitives primarily based on actual property valuations.

CitaDAO goals to create extra use circumstances for tokenized actual property to unlock capital within the world industrial actual property market, estimated to be valued at $32.6 trillion U.S. {dollars}. The tokenized actual property will permit DeFi protocols to entry this worth and begin to allow use circumstances comparable to lending backed by actual property.

“By integration with Chainlink, CitaDAO is creating better transparency and effectivity round actual property valuation information on blockchains. PropMarketCap, CitaDAO’s first group grant recipient, is working to create {industry} information requirements and processes to make sure actual property valuation information could be saved and utilized simply by DeFi functions,” stated Joel Lin, a contributor to CitaDAO.

The ‘oraclelization’ of actual property valuation information will permit CitaDAO to kickstart a brand new wave of DeFi protocol innovation in the actual property {industry} and create highly effective primitives and sustainable yield farms powered by real-world actual property to drive mass adoption of DeFi.

The publish CitaDAO integrates Chainlink to carry tokenized actual property to DeFi appeared first on CryptoSlate.

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2 Comments
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