A game-changer in real estate investing
Hello, Sphere community!
We have expanded our Due Diligence team and we are really excited to announce that Propchain is the first project to have gone through our enhanced project research process.
The Whitelist for Propchains’ upcoming IDO on Sphere for $PROPC is live now!
The link to apply for the whitelist can be found in the Whitelisting section, however please read the article in full first.
The Whitelisting process for PropChain is not based on FCFS (First-Come-First-Served) so don’t feel any need to rush through the process.
An important disclaimer before you proceed. It is essential to double-check you are always using our official website and channels at all times.
Headline
Investing in real estate has been one of the oldest and most trusted forms of wealth creation and perseverance, yet it is still impossible for most to create their legacies by real estate investing, until now, where Propchain steps in.
Propchain is an organization that specializes in the tokenization of real estate assets and enables users to invest in fractionalized real estate strategies and assets.
- Token type: ERC-20
- Ticker: PROPC
- Initial Market Cap: $1.1m
- IDO price: $0.35
- Listing price: $0.5
Insight into Propchain
Based in Luxembourg with subsidiaries in Lithuania and Dubai, Propchain is aiming to revolutionize the real estate investment space.
The problem:
Investing in real estate is filled with challenges, which have put barriers in place that have resulted in this world being closed to most. From liquidity issues to fees and taxation and supply issues to high entry levels, these are hard to overcome, even by the most seasoned professional.
The solution:
Provide a complete technological infrastructure for asset tokenization, making it easy and secure for users to invest in tokenized real estate. Tokenization allows real estate assets to be divided into digital tokens representing fractional ownership which in turn improves areas from liquidity and supply to fees and taxation. As well as having a team of investment professionals with over 100+ years of experience, curating the right assets and opportunities for the users on the platform.
Some key stats:
- All assets and strategies available on the platform are managed by Propchain and its professional partners, with the aim of achieving an average return between 8–12% in yearly ROI.
- Propchain’s investment platform is fully regulatory compliant and undergoes investment-related audits by Ernst & Young Luxembourg.
- Propchain has sold over 1M EUR in tokenized assets, has over 250 active users, and is currently boarding close to 13,000 users on its waitlist.
- Token sales have been successfully concluded, with over $5M sold to date.
5 key areas our DD team highlighted
In every IDO moving forward, we are going to highlight a few areas that stood out for us, that were a few of the key reasons why we felt the project merited coming on our platform.
- Experienced well rounded executive team with deep relevant industry experience
- $20M of Real Estate assets under management
- Low circulating Maketcap at launch
- CEXs booked in for launch and in months following
- Good mix of KOLs and private investors
Please note: The points we highlight above, in no way remove the need for you to do your own research.
Tokenomics
Token Distribution:
Token Utility
The token will provide a range of functions and features, including:
- Liquidity pool (LP) staking
- Accessing an investment vault
- Participating in voting
- Engaging in peer-to-peer property transactions
- Gas in the validation process
Propchain token utility plays an essential role in the Propchain ecosystem. Users can lock their $PROPC LP tokens as a part of staking operations and receive rewards, $PROPC tokens can be put into a Prop investment vault. The vault is for users that want to invest in a tokenized Property. $PROPC tokens are a means to internally access the P2P marketplace and other products. $PROPC tokens are used by participants to govern the Prop ecosystem, ensuring consensus in core decisions. The $PROPC token will function in the near future as the gas token for the validation of tokenized properties.
AMA
We will be holding an in-depth AMA with a senior member of the Propchain team on Thursday, May 11th. Details of this will be shared on our official Telegram channel here
Important links
Propchain has gone through our enhanced due diligence process and we have been impressed by their team, the stage they are at in their development, their road map and partnerships, among other things.
However, you should never take part in an IDO purely on the work we have done. Any investment you make is your decision and doing your own research is extremely important. We strongly advise you to review the links below, speak to their community, read their documentation and get a strong understanding of the project and the solution it is set to deliver.
Whitelisting
Propchain is on Ethereum, so please make sure you have a supported wallet. We support MetaMask and Trust Wallet. (DO NOT USE AN EXCHANGE ADDRESS). You will be asked to enter your wallet address during the KYC process.
We have strived to make the Whitelist process as simple as possible by limiting it to the completion of six basic tasks. We have put these tasks in an easy to follow form that you can complete here.
To be entered into the Whitelist you must complete all six tasks on the form. Applicants will be checked to ensure that they have completed the required tasks.
Whitelisting closes on Saturday, May 13th at 8 pm UTC. After this point, we will draw a lottery and Whitelisted people will be notified via email on Sunday, May 14th.
The IDO will be taking place on May 15th and 16th, details of which will be shared with whitelist place winners in their confirmation email.
Why do we ask for KYC
On the form you will be asked to complete KYC. All IDO participants need to successfully complete KYC and all projects that IDO with us have to complete this too.
KYC is here to prove who you are and where you are from. You will not be able to participate in an IDO if you do not complete KYC successfully
Our KYC partner is Fractal and doing your KYC is very easy. All you need is:
- Your email and your Wallet address
- KYC documents, these are usually an official ID such as a passport or driver’s license and a proof of address. More information on this is given as you go through the process
If you have done KYC before then Fractal have provided a helpful guide for re-doing your KYC. Please just ask our moderators in our Telegram for it.
If you have any issues with your KYC at any point, please contact Fractal direct:
Note that at no time will Fractal, Sphere or Propchain ever ask for funds.
IDO Details
On May 13th at 8 pm UTC, the whitelist will close and participants will be selected following KYC and task verification. Winners will be emailed on May 14th.
IDO will be taking place May 15th to 16th and a full swap guide will be shared with winners prior to that.
Propchain is listing on a major CEX at launch with more to follow shortly after. Full details of this will be shared by PropChain. Those that participate in the IDO will be able to claim their allocation at the point of listing.
The IDO rate is $0.35 per PROPC, with 50% unlocked at TGE and then 50% unlocked in month two. Note there will be an individual cap per user.
Airdrop
Propchain will be doing a special $5,000* airdrop competition in their native token for our community as part of their IDO. Winners of the airdrop will be randomly selected from successful whitelist applications. The prize breakdown is as follows:
- 2 x $1,000 winners
- 2 x $500 winners
- 5 x $200 winners
- 10 x $100 winners
Continuing the Dialogue
If there is anything else you’d like to know, please engage in our various channels:
Refund Policy
We take the protection of our community very seriously. It is with that in mind that we have put in place a refund policy that covers all IDOs that we do. Please review the refund policy here.
IDO — the risks
Any investment has risk and an IDO is no different. It is important to us that you understand the risks associated with taking part in an IDO. Please read the article we have put together here, before taking part in any IDO. The article looks at some of the risks and why it is so important you do your own research and due diligence.
Important Disclaimer
Beware of Telegram, Online and Twitter groups trying to impersonate Sphere. Always ensure you are on our official channel or groups.
