2023

This was the year the application became transactional. A landowner could tokenize their own property end to end, buyers and sellers could trade tokenized parcels inside the application, purchases could be paid by card, and the first lending integration let owners borrow against a parcel.

Property issuance (on-ramp)

• Tokenize your own land through a guided flow. A complete self-serve issuance pipeline shipped, taking an owner from looking up their parcel, through entering ownership details, generating and reviewing the legal documents, completing online notarization, recording the deed with the county, and minting the token, with progress tracking and email updates throughout. This made self-serve tokenization of real United States property the platform's defining capability. Generated property imagery and descriptions were added to new properties, and county recording packages were given the scannable barcodes some recorders require.

Marketplace and trading

• Buy, list, and make offers inside the application. Trading moved into the application itself: first an in-app "buy now" path against existing listings, then aggregated marketplace rails so a property could be listed, bought, bid on, and have offers made and accepted without leaving the site. Listings, offers, and bids are visible to everyone, including logged-out visitors, and prices and offers can be denominated in more than one token.

Payments and onboarding

• Pay by card, and sign in without crypto experience. Card checkout was added alongside crypto payment so a buyer could fund a purchase without holding stablecoins. Login moved to an embedded-wallet system, so a first-time user could get a wallet from an email login and have transaction gas handled for them, while self-custody wallets continued to work for experienced holders.

Lending

• Borrow against a parcel for the first time. The first lending integration let an owner take a loan against a property token and a lender fund one. Loan offers, active loans, and payoff amounts were surfaced on property pages and in transaction history, with email notifications across the life of a loan. This was the start of the lending product that expanded in 2024.

Valuation

• Estimated value on property pages. The estimated value began appearing on property pages when a property was not listed for sale, giving visitors a price signal on each parcel to complement the listing and offer information.

Smart contracts

• Mainnet token and an upgradeable architecture. The v3 property token was deployed to Ethereum mainnet, and the validator and proxy design was established so the validator serves as the source of a token's metadata and legal-agreement information. The contracts moved to an upgradeable pattern, so fixes and features can ship without redeploying the token or disrupting holders. Minting to multiple recipients with custom supply amounts made it possible to split a property across several owners, and burning a token was corrected to reduce its supply accurately.