Real Estate Blockchain Token CPROP To Launch On The ProBit Exchange
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Commercial real estate blockchain startup CPROP has announced that its native token will be launched on the ProBit Exchange.
Founded in 2017, CPROP develops and deploys proprietary and white-labelled applications across the real estate value chain – using blockchain where appropriate – to help its partners and clients reduce business risk, address pain points and capture new revenue opportunities.
CPROP has been developing a fully regulated decentralized exchange (DEX) that will enable DEX members to purchase and trade commercial real estate-backed digital asset securities from anywhere in the world. The DEX will provide an easy way for retail investors to enter the commercial real estate (CRE) market with low minimum investment requirements. For institutional investors, the advantage lies in the liquidity a DEX can deliver, particularly in view of the fact that most CRE is held in private, non-listed vehicles. Asset owners and managers can benefit by having a potentially much larger pool of potential funding sources for new developments.
CPROP will initially launch on January 27 on the ProBit Exchange, a global Top 20 crypto exchange. The launch will feature a CPROP/ETH pair.
“CPROP holders will benefit from every transaction that will eventually occur on the DEX,” the company said. “As members join the DEX, they will be required to hold CPROP tokens in order to list properties on the DEX. Furthermore, each time a digital asset security transaction takes place, a portion of the DEX fees will be used to buy back CPROP tokens from the market. Those tokens will be burned, thereby reducing supply. Token supply decreases with accumulated transaction volume thus providing a financial incentive to asset managers to list on the DEX. Prior to the launch of the DEX, CPROP will also burn tokens periodically at fixed intervals to gradually reduce the number of tokens in circulation. The first token burn will occur in conjunction with the launch of our Virtual Real Estate Summit, planned for March 2021.”
According to CPROP, their goal is to take the DEX live in 2021. In the interim, the company will continue to onboard asset owners, as well as work with different national governments to determine where legislation has progressed the most to allow tokenized trading of real estate.