💥 NFT Bazaar Blockbuster News Release | MakerDAO Seems to Be on the Brink of Lending 21 Million Dollar to SolarX (An Real Estate/RWA Project)
【Updated on Sep. 10th 00:26】
MakerDAO, one of the largest and leading Decentralized Finance Community, has launched their annual Real-world-asset (RWAs) Onboarding Plan in 2021 Q1. By far, an MIP 6 Application regarding including a $21 million-valued real estate asset into the MakerDAO vault is about to be closed, according to UPRETS, the loan underwriter and technical adviser of this SolarX deal.
Demonstrated by MakerDAO forum, SolarX REIT is the developer and owner of the 10 solar farms, which will acquire land, construct the facilities and lease the solar farm plants to a 3rd party specialized operator via a long-term triple-net lease. The lease will be secured by a 20-year Power Purchase Agreement with a fixed electricity price, through a collaboration with Long Island Power Authority (LIPA) and the Department of Energy.
One of the decisive reasons that 98% of Maker holders approved the vote of adding SolarX as a new RWA vault type is their extensive commercial and industrial real estate investment and development experience and solar farm development expertise. The SolarX management team has performed thorough diligence process and ensured all identified and proposed properties are meeting preset investment criteria and within acceptable risk parameters. Meanwhile, SolarX contracted with 3rd party appraiser and construction consulting companies to determine the value and cost of development. UPRETS, as the underwriter and technical adviser of the mortgage, will perform individual and full cashflow-based underwriting upon origination by delivering the loan note and related loan documents into the escrow and collaborating with Legend with the broker job of the DAI-USD conversion.
Insider news has shown a great possibility that this $21 million-valued RWA deal will be closed with a month once the Maker Foundation has been formed and reached a joint agreement with SolarX and UPRETS. Among this booming time of Non-fungible Tokens (NFTs) by bringing more real-world collectibles into the digital industry, MakerDAO has never failed to leading this trend in terms of DeFi development and innovation.
“$21 Million is a big leap, but a small drop of the ocean. Starting from SolarX, in the very near future, a clear, formally compliant and financially significant Decentralized Finance approach of including batch quantity of real estate assets into crypto world will be realized.”
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.
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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:
And also, about Our UPRETS:
UPRETS is a platform focused on simplifying investment in real estate by advising on and digitalizing assets and securities.
We 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, we bring a network, experience and luxury assets to the platform.
For more information about UPRETS,
Lastest SolarX Project MakerDAO Forum: https://forum.makerdao.com/t/solarx-mip6-application-uprets-solarx-industrial-real-estate-backed-loans/6718
*Highlighted* OST Digital Securities MakerDAO Forum: https://forum.makerdao.com/t/ost-1-mip6-application-by-uprets-real-estate-backed-digital-security/4438