Decentralised Futures: Trust-less Real Estate Investment Future

Ecosystem
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The global property market is broken. High rents and property prices are meaning many people cannot envisage ever being able to afford to buy their own home. By tokenising and fractionalising individual properties and removing third party intermediaries, affordability and flexibility are now introduced to an extremely illiquid market.

Value Proposition
Xcavate is a decentralised and community-driven protocol for real estate investments and tokenisation.

Abstract
Our goal is to bring greater transparency, accessibility, speed and efficiency to the global real estate sector. Xcavate features open processes with less friction, removing opaque layers of intermediaries and associated costs. All regulatory requirements are fully complied with as part of the onboarding process using reusable digital credentials that are cryptographically secured and easily verified for authenticity.

Problem we are looking to solve
Total global Real Estate was valued at over $378.7 trillion at the end of 2022, representing the largest store of wealth across all sectors. While this asset class is readily accessible for high networth individuals, many real estate investment opportunities are not possible for the average person due to high initial capital requirements, the complex nature of real estate investment, and the traditional need for trusted intermediaries.

Tech Stack
The Xcavate protocol, developed using the Polkadot SDK, executes code in a trust-less manner and automates token transfers, mitigating counterparty risks and human errors in the investment process. Xcavate’s decentralised approach ensures global access to early-stage real estate investments with low entry barriers for all network participants.

Xcavate aims to level the playing field through increasing capital and technical efficiency, reducing friction by automating and simplifying processes, and removing intermediaries. This is achieved by leveraging digital identity, dApps and oracles. The resulting protocol is transparent and auditable without requiring deep expertise, and brings trust-less accessibility and security to the real estate market.

New builds and property developers are carefully vetted before they are allowed to list on the marketplace, and typically cumbersome checks - such as for title deeds or price planning - are handled automatically and are visible on-chain, along with KYC/KYB/AML. The Xcavate protocol is governed by token holders, aligning incentives for the growth, stability and sustainability of the protocol.

Xcavate is built on the Polkadot SDK and features several of Polkadot’s pallets, as well as custom-built pallets to incorporate all required functionalities to make a flourishing on-chain real estate market a reality.

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Ecosystem Engagement
Xcavate also builds on multiple other dApps in the Polkadot ecosystem or accesses them by leveraging Polkadot’s native cross-chain messaging (XCM) capabilities:

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  • Xcavate will be deployed using Tanssi, an appchain infrastructure protocol.
  • Real-world inputs will be provided using oracles set up through Acurast, a decentralised and serverless cloud.
  • In order to guarantee compliance with pertinent legislation, Xcavate uses pseudonymous credentials that are verified on-chain through the KILT protocol.
  • Evidence of construction milestones will be gathered using Click, which relies on a decentralised network of smartphones by Nodle.
  • On-chain access to a pool of certified solicitors will be established using Logion, a decentralised network ensuring robust legal certification for blockchain transactions.
  • A percentage of real estate sale fees (decided by XCAV holders) will be used to purchase carbon credits on the Bitgreen marketplace, to offset the carbon footprint of a property build.

Our Solution
Xcavate has been in development since 2022, with our MVP winning the dApp & Smart Contract category of the 2023 Winter Polkadot Hackathon. We expect to acquire a Polkadot parachain slot (or purchase Polkadot coretime) in Q2 of 2024.

Conclusion
By creating a decentralised community driven protocol, which delivers the values and goals of the many and not just the few, will help to make the world a better place.

Please engage with us and comment :slight_smile:

9 Likes
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I had the pleasure of meeting Richard at the Polkadot relayers incubator and the Xcavate team in Hong Kong during the 2023 Winter Polkadot Hackathon.

This is a very big and urgent problem. And blockchain technology can be used to solve it. This is a prime example of a real world use case.

It’s great to see how Xcavate is utilizing different pices of the Polkadot ecosystem. It shows the value of the whole Polkadot network and how it can be utelized to solve real world problems.

Overall, I support this proposal.

5 Likes
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It has always been great to interact with Richard and the team, they were very valuable in testing and providing constructive feedback on Acurast’s architecture as an oracle for their real-world asset use case.

It’s great to see Xcavate leveraging the ecosystem’s infrastructure with Tanssi, Crust, verifiable credentials etc.

3 Likes
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I know Richard from the Polkadot Blockchain Academy in Berkeley and since then I’ve collaborated with the Xcavate team on the Polkadot Winter Hackathon MVP project which was a massive success! I’m really passionate about the future of the Xcavate project and what it can bring to the real estate space. I also love the fact that it leverages so many other Polkadot parachain technologies, it’s a great show case of the interoperability benefits available in the ecosystem and the types of amazing ideas that can be brought to life.

6 Likes
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I had the chance to meet some of the amazing team members. Xcavate has got a really strong team with a very dedicated leader!

Xcavate team is focusing on the areas that matter the most, like doing everything legally!

Good luck!

3 Likes
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I had the pleasure of meeting Richard during the AngelHack incubator in Singapore. Despite our brief encounter, it was evident that Richard knows his stuff, and I truly admired his depth of knowledge and passion for his proposal. His confidence and expertise left a lasting impression on me.

The global property market is undeniably broken, with soaring rents and property prices rendering homeownership an unattainable dream for many. Xcavate’s vision to tokenize and fractionalize individual properties, while eliminating third-party intermediaries, promises to revolutionize this stagnant and illiquid market. By introducing affordability and flexibility into the equation, Xcavate’s proposal offers a beacon of hope for countless individuals striving to secure their place in the real estate market. I am wholeheartedly supportive of Xcavate’s initiative and am eager to see the transformative impact it will undoubtedly have.

2 Likes
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As BD at Crust Network I fully support this proposal.
Xcavate always has proven to be a reliable partner for us and always delivers according to their promises. The team has lots of experience in their niche and i love how they constantly push towards new ways of leveraging existing DOT services to improve their own solution.

2 Likes
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Xcavate has a solid team with a highly dedicated leader. If you want to learn more about the project, check out the podcast episode https://www.youtube.com/watch?v=Y73owvm9xPE

2 Likes
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I have been working with Xcavate for 10 months. We have experienced numerous highs and lows, which is what has kept me committed to this project for an extended period. Despite not having met each other personally, we have established solid connections and trust. Working with Xcavate has provided me with the opportunity to learn new things every day and connect with people from all over the world. I have been a staunch supporter of Xcavate’s initiative from the beginning and am eager to witness the transformative impact it will bring in the future.

3 Likes
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I met Richard online through a Discord community while searching for a team to join for a hackathon competition. I was immediately impressed by the Xcavate project’s vision of addressing the high costs associated with property ownership and rentals. Since joining the team, I’ve been working diligently to contribute to this vision’s realization.

I initially had limited knowledge about the Polkadot ecosystem, but through my involvement with Xcavate, I’ve gained valuable insights and am continuously learning more.

Although we didn’t win the initial hackathon, the Xcavate team has made significant progress, including winning the dApp & Smart Contract category at the 2023 Polkadot Winter Hackathon. Working remotely with this geographically diverse team has been an enriching experience. We’ve effectively communicated, assigned tasks, and built a strong foundation despite not meeting in person.

2 Likes
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I have been working with Xcavate since a hackathon in May 2023. Xcavate has a great team with people from all over the world and I love working with them. I learned a lot through all the challenges we faced so far and I admire Richards passion for this project.

I am confident that Xcavate will add value to the Polkadot ecosystem. It will bring new people from web2 to web3 and we are always trying to find new ways to utilize existing technologies from Polkadot.

3 Likes