EliteX-Leasehold AMA Elite Round Table
EliteX held an online AMA round table with the theme “World’s first Property-Mining Pool” on April 24th. This conference invited EliteX’s commercial manager Bom, Leasehold founder Reo Elliot and Leasehold’s CTO Jonathan.
The following is the full text of this AMA event to share with you:
Bom: Thanks for Jonathan and Reo come to our community to share the project info.
Reo Elliot: Hi all, thank you for having us here today! I am Reo Elliot and I am the CEO and founder of Leasehold holdings.Here with me today is Jonathan,our CTO at Leasehold.
Bom: Thank you for the introduction and we appreciate you all for taking the time to join us us today! So my first question is: Q1: What is Leasehold(LSH)? Can you introduce more about it ? How does the project progress now?
Reo Elliot: Yes, for sure.Leasehold(http://leasehold.io) is a decentralised profit sharing business that shares rental income through tokenization. Leasehold (LSH) rewards token holders in the form of a buy-back and burn, which takes company profits, buys back tokens from the open market and destroys them while taking them out of circulation.
As a Deflationary token, LSH tokens will continue to be bought and burnt while the company sets strict policies that ensure further growth and acquisition that aims to increase the buy-back and burn power constantly. Leasehold Holdings has divided its business into 2 main branches, the first branch being:
1.1.1 Property rental of non-owned apartments. Here leasehold will run apartments for homeowners at agreed amount, where our marketing strategies and booking system methods will be applied, this will help Leasehold to acquire constant funding for our buybacks. Leasehold already has 5 signed contracts for 5 separate apartments starting April 15th. We will continue to sign more.
1.1.2 Property rental of owned properties. Here Leasehold will achieve the maximum amount of returns as all profits will belong to the company and distributed to the “Buy Backs” Leasehold (LSH) will continue to buy property on the open market and rent it out using our specially designed cross platform method.
Cross platform method is designed to increase occupancy rates of all our apartments by listing the properties available for short term rental on platforms such as booking.com, airbnb, homeway and many more all simultaneously. Bookings are then all synced across a single platform that allows all token holders access to real-time data of company profits in the form of buy-backs which are executed monthly. Tokenization of LSH allows people from all over the world to take part in profit sharing from the short term rental markets that are now booming all over the world without having to put up large amounts of capital at once.
Bom: Thanks Reo, very detailed answer.Let’s move on to the next one. What made the Leasehold project decide to do Real-estate ?
Reo Elliot: We have been supporters of Lisk since 2016.
But we do not support the Volatility of the Crypto Markets, so we decided to build something that was not dependent off the crypto markets and Property and short term markets are a very strong source of investment for us to build foundations for Leasehold on.
Bom: Sounds interesting, thank you telling us the motivation of your team. And you mentioned Lisk, why you choose work for Lisk. Can you introduce the technical background of your project?
Jonathan: There are multiple technical reasons why we chose Lisk. One major reason is because the Lisk network module supports features which are ideal for our DEX use case. I worked at Lisk for 2 years and was P2P team lead and we had designed the Network module for use cases like ours. So it made sense in terms of the merits of the tech but also we already had a good understanding of Lisk SDK within our team and this has been an advantage. A lot of the features related to message routing for example, proved very important for implementing the DEX with federated 2-way peg.
In many ways my work at Leasehold has felt like a continuation of my work at Lisk but in a slightly different but non-conflicting path.
Bom: Thank you for such a professional answer. let over to Reo Elliot , so does Leasehold already have income? As Leasehold is doing the housed renting market, will quarantine time influence your business area? And will you have more plans to expand your market all over. the world?
Reo Elliot: Yes, Leasehold already has 5 signed contracts for renting out apartments, that all generate income, however at the moment everything is on pause with the Covid 19 lockdowns in place, but those restrictions will slowly be lifted and business will continue to operate. we intend to install Coded locks on all the apartments to prevent human interaction. when guests check in, this will help shape the future travel for our industry with this Corono virus. We do 100% plan to expand to other countries , we want to target all tourist hostspots around the world.
Bom: That sounds make sense. And pray for everybody affected by the Corono Virus. I want to know more about the Delegates. So how to be the Delegates for Leasehold? Is there any rules for it ?
Reo Elliot: Yes we have a total of 39 active delegates that can forge the Leasehold Network , Delegates are elected via voting. the voting mechanism is designed to allow vote weight to be accumulated on delegates and the 39 highest voted delegates will be elected to forge. 1LSH = 1 vote, example a wallet with 1 million LSH can vote 39 delegates with 1% since the total amount of tokens is 100 million
Delegates Earn network fees as well as 60% of the Fees generated from the LDEX, so these positions will be valuable.
Bom: Great! it sounds very exciting. Regarding the LSH, where can people get LSH token? This is the last questions for our 1st sessions ,also most people interested in. Let’s invite. Jonathan to answer this.
Jonathan: We have started collecting Lisk, Ethereum and Bitcoin as part of our ITO https://leasehold.io/ito. If you sign up on the website it gives you the steps to purchase some LSH as part of the ITO. Later, on June 2 we will open up the DEX for trading against Lisk so this will be another way to buy LSH tokens. To access the Leasehold LSH tokens, you will need to download the wallet from the Leasehold.io website.
Bom: Cool stuff! Guys, download the wallet from the Leasehold.io website first , and attend the ITO. This was a great opportunity for community members to learn more about Leasehold, thank you Jonathan and Reo Elliot for taking the time to answer these questions. Our 1st part now finished and then we will move to part 2 — we collected several questions from our community members. Also for the nest 10–20 mins,the board is open to everyone please ask any last questions, and we will try to answer as many as we can. Thank you.
Manih anak: how is the global influence of this pandemic on your project? Because in my opinion the world is now experiencing a recession due to the global pandemic.
Jonathan: We discussed this between Directors a fair bit. Ultimately people will always need property. The lockdowns will not last forever. If it turns out to be a bigger problem than anticipated we can tailor our business strategy around the new reality but people will still need holidays.
Reo Elliot: We have implemented ways to reduce human interaction when guests check in , and we strongly believe that things will go back to normal, the economy cannot function the way it is, and once restrictions are lifted , many people will go to travel because they are tired to sit in home. Since the Leasehold project does not have Debts like many companies, all our property was purchased with cash and will continue to do so, our expenses and overheads are very low , it will be very hard for the company not to do really well.
Bom: We collected several questions from our community members. Let me put infomation in here. Q1: Why does Leasehold focus in the world of investing in property rental ?
Reo Elliot: The size of the professionally managed global real estate investment market grew from $7.4 trillion in 2016 to $8.5 trillion in 2017. Real estate tokenization is the process of representing an ownership interest in real estate with a token. The tokenization of assets is the next logical step in the technological evolution of commerce, particularly when it comes to the real estate market.
Zhou: Could I ask what is your project’s merit? What kind of remaining industrial pain points could you solve?
Reo Elliot: This is also a very good question, Leasehold actually solves quite a few issues with the current markets. The first one: Liquidity. Currently real estate is far from liquid, in fact many real estate owners know they can wait months if not years to sell a piece of property or land, leasehold solves this but turning real estate into a liquidity market in the form of Tokenization. Second one, individuals wanting to enter the real estate market need to put up large amounts of capital in order to take part, with leasehold we allow that entry level to be much lower, Example someone wants to invest 5000 euros into property but where will they find a property worth 5000 euros that would give them the same return as a property worth 200000 euros ?
Leasehold allows them now to own tokens valued at 5000, for a share in the public company that would allow the investor to profit from the same share of his 5000 as it would from a 100000 share, eg 1 property is worth 100k, then 20 people investing 5000 euros would now allow them to earn rental income off the 5000 euro share, which makes it secure, and low risk, hope this answers some of your concerns @zhou.
Jonathan: There are definitely big trends in the tonekization of financial assets with the DeFi movement for example. Real estate is tangible asset which Leasehold can own without brokers or additional intermediaries so it’s ideal as an asset for tokenization in terms of removing middlemen from the equation. Its just you (the investor) and Leasehold Pty Ltd. No other intermediaries, even to buy the tokens.
We will operate the DEX so no intermediaries, and the trade history will be on-chain so you get perfect transparency too.
Reo Elliot: Transparency is a top priority for leasehold, I am happy to announce to everyone Binance APPROVED us a Corporate account for Leasehold holdings we will be getting some of the best conversion rates in the industry as well.
Bom: Fantastic! Unfortunately, we are out of time. Any further questions, please visit official Leasehold channels. Please also pop into Leasehold discord and meet the community: https://discord.gg/uMp2nW