01 December 2021 07:18, UTC
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Chainlink nodes will provide valuation data from global, world-class consulting agencies.
CitaDAO is integrating the industry-leading Oracle Chainlink solution to unlock tokenized real estate use cases in DeFi. CitaDAO is building an Ethereum-powered Decentralized Finance (DeFi) Ecosystem featuring real estate-based sustainable income farms that can be combined with DeFi apps.
The integration will leverage the Chainlink oracle infrastructure to ensure the reliable flow of real estate valuation data into the DeFi ecosystem – a critical foundation for protocols and developers looking to build trustless decentralized applications using real estate-backed tokens.
The Chainlink nodes will provide valuation data from world-class global consulting agencies such as CBRE, Savills, Knight Frank, JLL and Cushman & Wakefield. The data is cryptographically signed, so the consumer of the data stream knows that it came directly from a known reliable source. Smart contract developers can use the Chainlink node as a price oracle to create primitives based on real estate valuations.
CitaDAO aims to create more use cases for tokenized real estate to unlock capital in the $ 32.6 trillion global commercial real estate market. Tokenized real estate will allow DeFi protocols to access that value and trigger use cases such as real estate-backed lending.
“By integrating with Chainlink, CitaDAO provides greater transparency and efficiency with regard to real estate appraisal data on blockchains. “PropMarketCap, the first recipient of the CitaDAO community grant, is working to create industry data standards and processes to ensure that real estate appraisal data can be stored and easily used by DeFi applications,” said Joel Lin, a CitaDAO contributor.
Oracularizing real estate valuation data will enable CitaDAO to kick-start a new wave of DeFi protocol innovation in the real estate industry and create powerful primitives and sustainable farms based on real estate for mass adoption of DeFi.
Posted by Newt Salamander, Analyst at Freedman Club Crypto News
#CitaDAO #integrates #Chainlink