UAE LandOrc, a blockchain real estate enabled ecosystem, partners with Polygon, an Ethereum scaling platform to offer DeFi lending real estate services to its ecosystem.
Through the partnership between LandOrc and Polygon, the decentralized Ethereum scaling platform with an ecosystem of over 7,000 applications (dApp), Digital Asset Owners can benefit from DeFi-enabled, tokenized lending in the global real estate industry – using real-world assets as collateral. The Polygon user base with a market capitalization of USD 12 billion can now seamlessly participate in the LandOrc ecosystem and benefit from this integration.
Investors also benefit from the lower gas fees on the Polygon network and faster speed of transactions during staking, enabling lenders to easily stake for varying time periods on the platform, and to enter and exit at will with minimal cost. The LandOrc platform staking developed on Ethereum has been rolled out on the Polygon network.
LandOrc’s integration on Polygon is a phased roll-out. Smart contracts for platform staking have been transitioned to the Matic payment gateway within the Polygon network as part of the first phase, with subsequent phases planned out in the coming months.
By harnessing recent developments in the applications of distributed ledger technology, LandOrc has effectively brought these previously disparate worlds together – making it possible for real estate development lending to be tokenized, traded, and owned, by anyone, anywhere in the world. Polygon’s network is aiding the process of scaling the LandOrc solution to a wider user base by reducing the cost of transactions and making the process even faster. Anybody, anywhere in the world today can participate in one click at buy.landorc.io.” says Navonil Roy, CEO, LandOrc.
“The LandOrc token was developed in the Ethereum blockchain, and now with the help of Polygon interoperability protocol and Proof of Stake (PoS) consensus algorithm, LandOrc is able to bridge the native ERC20 token from Ethereum to Polygon network.”
Land titles integrated with real-world visuals, as well as data on the property’s location and vicinity, the LandOrc NFT, or ‘LandNFT’ on the blockchain, is used as a collateral for lending. It effectively represents ownership of the physical asset in the real world – making the transfer of real estate fluid and borderless.
Headquartered in the United Arab Emirates (UAE), with lending operations in India, the UAE, and soon, Australia and the United States. LandOrc makes its operations seamless in terms of lending and collateral management using Special Purpose Vehicles (SPV) in each of the operating regions.
In august 2021, LandOrc closed a seed round.
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