Linkreal

Inspiration

I was inspired by the need to have a real-world asset tokenization platform that provides ownership verifications and most importantly a guarantee to investors that the asset they are buying or investing on-chain will be theirs/ give the investment benefits off-chain. For example, what guarantees me that I get the asset I bought on-chain, really in the real world.

What it does

For investors,

- they can invest in real estate ( fully or in shares ), with less trusted intermediaries.
- With a proper staking mechanism introduced for asset ownership verifier entities and asset guarantors ( without collateral guarantors ), then investors actually don’t have to trust anyone. Because the organizations ( private or government ) who does the attestations has provided stake on chain.
- If there’s no staking being done, investors can choose to trust the verifiable onchain written word of these organizations. ( which could be legally binding ). 

For Asset Owners

- open up new markets for getting income
- Requesting undercollateralized loans based on future rent of the asset.
- Selling the right to collect all the rent payments for a whole year, in exchange for an advanced payment.

For Society as a whole

- remove the cumbersome and problematic paper work needed in offchain paper based systems. 

How I built it and what it does

• Used EAS ( Ethereum Attestation service ) to provide on-chain verifiable attestations signed by the required entities. Basically used EAS for providing onchain Verifiable Credentials.
• Chainllink CCIP for making the tokenized assets not chain bound, Chainlink Functions for getting valuations, Chainlink Price feeds for converting USD valuation to USDC.
• LinkReal as a platform adds property ownership verifiers and guarantors to the platform. Apart from that rest is not controlled by the platform. ( this adding ownership verifiers and guarantors part is transparent and visible to the pubic as it's all done onchain )
• The asset ownership verifier is responsible is to confirm the legitimacy of the property owner's claim. Basically to claim onchain via an EAS attestation, that I have verified that this property belongs to the property owner represented by this onchain wallet.
• The guarantor's Role is to provide additional assurance to investors. For example by ensuring the transfer of property ownership upon sale. Gurantors has to be reputable entities like banks or insurance companies who list their wallet address on a publicly visible place ( like landing page )

Challengs I ran into

• Relative Lack of resources in DID and Verifiable credentials ecosystem and time constraints

What we learned

• Dived into Decentralized Identity and Verifiable credentials ecosystem

What's next for Linkreal

• Make this Proof Of Concept into a polished platform
• A gasless and wallet recovery enabled UX with ERC 4337 wallets ( which support EIP 1271 standard for signing )
• Privacy for property owners and investors with zk proofs
• Discuss and partner with entities who are willing to tokenized real-world assets

Built With

• chainlink-ccip
• chainlink-functions
• chainlink-pricefeeds
• eas
• hardhat
• scaffold-eth