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Chainlink
$22.28 1.48%
LINK · 7w

CitaDAO Is Integrating with Chainlink to bring Real Estate Appraisal Data and Tokenized Real Estate to DeFi

We’re excited to announce that CitaDAO is integrating industry-leading oracle solution Chainlink to unlock tokenized real estate use cases in DeFi. The integration will leverage Chainlink oracle infrastructure to provide a reliable real estate valuation data feed to the DeFi ecosystem — a crucial backbone for protocols and developers wanting to build trustless decentralized applications using real estate-backed tokens.

Chainlink nodes will provide appraisal data sourced from world-class global real estate consultancies such as CBRE, Savills, Knight Frank, JLL, and Cushman & Wakefield. The data is cryptographically signed so that the consumer of the data feed 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 global commercial real estate market, estimated to be valued at $32.6 trillion U.S. dollars. The tokenized real estate will allow DeFi protocols to access this value and start to enable use cases such as lending backed by real estate.

“Through an integration with Chainlink, CitaDAO is creating greater transparency and efficiency around real estate valuation data on blockchains. PropMarketCap, CitaDAO’s first community grant recipient, is working to create industry data standards and processes to ensure real estate valuation data can be stored and utilized easily by DeFi applications.” — Joel Lin, a contributor to CitaDAO.

“We’re excited to empower CitaDAO to unlock a novel asset class for DeFi by enabling them to bring high-quality real estate appraisal data on to leading blockchains. Doing so will allow DeFi applications to price tokenized assets using professional market assessments, enabling wider access to the opening up a real estate market, the world’s most significant store of wealth worth hundreds of ...

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