Real Estate is the fastest and safest ways to wealth for most people, but a hard thing to get started investing in and it is hard for most people to qualify to buy their first home.
What it does
Stiff Money App helps people earn 10% APY on accepted currency deposited and staked, and lets them be a lender to First Time Home Buyers. Stiff.Money helps people become home owners with zero down payment Lease-To-Own smart contracts.
HARD tokens represents a token holders deposited dollar value of fiat or crypto currency that has been deposited into Stiff.Money App, a Note of credit with 10% APR.
A person can deposit accepted fait and crypto for HARD Tokens and when HARD is staked receive .0274% interest paid daily on the balance of the HARD Tokens held on a distributed ledger.
A person holding HARD Tokens can be assured of a stable value of the token because funds are held liquid until used to purchase real estate worth more than the value of the deposited funds. And property purchased is re-sold at a profit so the value of real estate held as collateral always exceeds the original value exchanged for HARD Tokens.
How I built it
https://stiffmoney.com/ is currently hosting the homepage and overview about Stiff.Money, also a Homebuyer application. In the future will link to https://Stiff.Money(in development) where there will be a Bitconomy payment gateway for people to make deposits, and those deposits $USD value will be converted into HARD tokens https://cchain.explorer.avax-test.network/tokens/0x76F420c18d284Dca44999ae7461f918F847F137f/token_transfers and staked in a distributed ledger on Avalanche.
Challenges I ran into
I was able to create a mintable ERC20 token using C-Chain, but unable to find a DEV to help create a ledger to record deposits. Would really like to leverage Bitconomy and distributed ledger using Avalanche but a little out of scope for the teams skills at this time.
Accomplishments that I'm proud of
This is a great idea that could offer people a safe and profitable place to hold funds, and offer other people a great opportunity to work towards home ownership without needing a down payment. This could big huge for helping people become first time home buyers.
What I learned
I did not know about Avalanche or Biconomy before this event.
What's next for Stiff Money App
Hopefully winning funding and guidance from MoneyDance to help support the continued development of the platform.