Elysia is a decentralized autonomous organization (DAO) intended to provide the technology and incentives for the digital transformation of real estate assets. The goal is to apply blockchain technology to create digital representations of real estate assets and support market participants contributing to the issuance, distribution, pricing, and exchange of these digitalized (synthesized) real estate assets. More importantly, the Elysia DAO will act as a bridge to align the interests of traditional real estate owners and digital asset owners looking for new opportunities.
Approach
Elysia DAO generates smart contracts on the Ethereum network to allow issuers to associate the data and value of their real estate assets to create unique representations in a form of tokens. These tokens contain records related to the property such as current market price, financials, ownership stake, and binding legal documents. Issuance provision ensures that by owning the token it is entitled to the ownership rights both on and offline, while the DAO governance model will engage in the activities related to the exchange and utilization. Once approved by the governance body, the tokens can be transferred to the secondary market for sale and redemption.
Strategy
In order for real estate assets to be valued and utilized online, the overall logical structure must be consistent and valid, and the existing legal structure must also be considered. In addition, Oracle issues must be addressed in the process of linking real estate information and on-chain data. Elysia is also focused on setting provisions so that the scope of key decision-making processes and reward schemes can be extended both online and offline. Structure and relationships between participants should be reasonable to allow voluntary participation during the selection and confirmation of tokenized real estate. In this document, the Elysia DAO will uncover what we have learned so far, and provide further information on how the organization intends to adopt new methods to create an autonomous system that will motivate participants to create, buy, sell and manage real estate tokens.