EntroFi Real-World Finance Partnership Series:UPRETS Onboarded to EntroFi and Introduces its OST Token
EntroFi and UPRETS have reached a strategic partnership to onboard EntroFi as capital originator and introduce RWA (real-world asset) backed digital assets technically-issued from UPRETS on EntroFi. EntroFi will first introduce OST, a tokenized residential apartment building in New York, as a collateral for its collaborated DeFi lending partners. Upon full integration, OST token holders will be able to deposit OST to EntroFi’s lending portal and use it as a collateral asset access to additional liquidity provided by other DeFi lending protocols.
This is the first of ongoing effort to bring on RWA backed tokens as collateral to EntroFi strategically with UPRETS. UPRETS is a one-stop technical service provider for property developers, project developers, owners and investors all over the world, through technically issuing digital securities for RWA to look for secondary liquidity.
UPRETS tokenized the Oosten residential apartment building in Williamsburg, Brooklyn, NY, USA. This digital securities token is named as “OST”.
Picture of Oosten Property OST Token
Picture of Another UPRETS’ Pilot DeFi Project SolarX REITs (above)
This is a prime example of innovative practice of connecting RWAs and digital assets, leveraging DeFi liquidity. Advancement of blockchain and DeFi has brought about evolutions of advanced concepts, such as real-world financing through DeFi. Current DeFi ecosystem is heavily focused and reliant on major cryptocurrency assets such as BTC and ETH, and does not extend its liquidity or market structure to accommodate real-world financing, which has broader use cases for liquidity. The team at EntroFi recognizes DeFi users’ desire for more variety of DeFi applications, and believe our partnerships with real-world finance to interlink the two has many beneficial practicalities.
There are additional real estate backed loans UPRETS is currently formulating and leading, for instance the SolarX REIT, which has already applied for loans on MakerDAO and ready to be funded in the very near future. In the loan, UPRETS will originate, underwrite, and deposit mortgage loans backed by land and solar farm facilities in New York to use as collateral to borrow DAI. The total purchase amount is anticipated to be up to $21MM DAI, and upon completion, EntroFi plans to extend its support to other assets originated by UPRETS.
Of the full spectrum of off-chain and on-chain assets EntroFi plans to incorporate as collateral, real estate is a key example of Tokenized RWAs as NFT Token. There are multiple real-world-finance-meets-DeFi partnerships and integrations coming to EntroFi; we suggest you follow us on our channels to stay up to date!
About NFT Bazaar：
The brand-new founded NFT Bazaar (https://nftbazaar.network) is one of the most-used aggregators that offering up to hyper-efficient NFT markets to benefit not only NFT token holders, but digital artists, musicians, gamers and all kinds of lovers as well, while providing one-stop NFT issuance, bidding and exchange platforms with ease.
NFT Bazaar is more than an info hub, but more like an aggregated digital art gallery and central market interchange that links all live trading venues, investors and creators on this unique platform with ease!! By dedicating to co-contributing the emerging Binance Smart Chain (BSC) ecosystem, NFT Bazaar, in the very near future, will become your handy NFT aggregator as well as exchange platform full of vitality.
At present, NFT Bazaar has collected 50,000+NFT contracts and 520,000+ on-chain transaction data, covering 9 categories such as art, collections, virtual world, sports, music, and games. The transaction data is updated in real time, which is far ahead of other similar platforms. Users can quickly find the information they want by category, price, transaction volume, market value, etc., and obtain intuitive chart price display, transaction history and other data.
NFT Bazaar has just been launched for 1.5 month, with average weekly UV2,000+ and PV 3,000+. It is expected to reach MAU 2,000+ by the end of the second quarter and MAU 10,000+ by the end of 2021.
The NFT issuance function has now been officially launched in May 2021, and NFTs in mainstream contract formats such as 721/1155 can be created at just one-click both in front-end and back-end modes. It is estimated that the platform can support 1000+ TPS and platform GMV will reach 500,000 US dollars/month. By the end of 2021, NFT Bazaar will rank among the top 15 global NFT platforms.
We have currently formed official strategic partnership relationships with other pioneers in this fields, including: @Redblock Capital @Resolute.fund @Rocki @bondlyfinance @Fortube @Ontology/Wing and so. Welcoming to join us at:
Website: https://nftbazaar.network
LinkedIn: https://www.linkedin.com/company/nft-bazaar
Twitter: https://twitter.com/BazaarNft
Facebook: https://www.facebook.com/NFTBazaar/
Weibo: https://weibo.com/6128629014/
Medium: https://nftbazaar.medium.com
About UPRETS
UPRETS is a platform focused on simplifying investment in real estate by advising on and digitalizing assets and securities. They are dedicated to providing a convenient, legally compliant and advanced real estate digital securitization platform for property developers, asset owners and investors globally. By utilizing our UPRETS platform, real estate developers and assets owners can create digital securities for their properties, providing investors with various low-barrier, secure and convenient forms of investments. Backed by a publicly listed real estate conglomerate (NYSE:XIN) and our award-winning, patented blockchain technology, Xbolt, they bring a network, experience and luxury assets to the platform.
For more information about UPRETS,
Website: https://www.uprets.io
LinkedIn: https://www.inkedin.com/company/uprets2019
Medium：https://medium.com/uprets
Twitter: https://twitter.com/uprets_io
Facebook: fb.me/uprets2019
Lastest SolarX Project MakerDAO Forum: https://forum.makerdao.com/t/solarx-mip6-application-uprets-solarx-industrial-real-estate-backed-loans/6718
OST Digital Securities MakerDAO Forum: https://forum.makerdao.com/t/ost-1-mip6-application-by-uprets-real-estate-backed-digital-security/4438
Could find more detailed info by catching up on the latest of EntroFi at:
