LandOrc, headquartered in UAE, is a new Tech solutions provider that facilitates lending for real estate industry by providing access to Decentralised Financing (DeFI) and utilising land titles in non-fungible token (NFT) form as a collateral, with all transactions on the Ethereum blockchain for greater trust, transparency and speed.
Currently they are at their tail end of pioneer sales. LORC is being sold for $0.80 per token without vesting that will end on 29th August 2021. Investors will get additional 10% LORC based on their purchase amount. Private A funding will see the price of LORC at $0.80 per token with vesting period of 3 months, before opening for Private B at $0.90 (30 days vesting) followed by public sale at $1.00. Public sale will take place at designated exchangers that will be announced. Public sale is targeted to take place by end of September 2021, that is just next month. You can purchase your pioneer LORC tokens without vesting at https://landorc.io/ for one more day.
People often talk about missing out buying bitcoin when it was at its lowest price. If something that was created for transaction purpose can go high in value over the years, LandOrc (LORC) that has got real time solution will surely make wonders. For private sales that starts on 30th August 2021 you can access it through https://landorc.io/private-sale.html Some of the technologies that LandOrc seeks to deploy are as follows.
Land Title Digitalization
Developers who need funding will be able to approach LandOrc by using their land title as collateral. Ownership of those land or property titles will be tokenized through issuance of Land Non-Fungible Tokens (LandNFT) by LandOrc to facilitate digital transactions and the process of collateralization under LorcFinancing.
LandOrc works together with legal counsels, professional valuers and relevant local entities to authenticate ownership, value assessment as well as all other compliance requirements for respective jurisdiction for each LandNFT. This process of value assessment is done by a minimum of 3 independent valuers and lawyers to determine a consensus valuation range.
LandOrc platform also enables storage of multiple offline data points like GPS enabled visuals, vicinity analysis of the land based on location data along with the assessment of the land value. Data management of the NFT is synchronized to a IPFS (Inter Planetary File System) database via referral key.
Lorc Financing: Collateralized Financing for Real Estate Projects
As mentioned earlier, LorcFinancing offers to real estate developers and / or land owners who want to raise fund for their projects, an opportunity to raise liquidity through the crypto ecosystem at a relatively lower rate by collateralizing their real estate assets and/or projects. This is subject to clearance from voting process via Land Governance Tokens (LGOV).
Once clearance is obtained for LorcFinancing and its corresponding LandNFT being issued, the participating real estate developer will have to provide a land collateral at an overcollateralization ratio of two-times (2x) over the aggregate financing amount. The asset collateral will be pledged to a local special purpose vehicle that is affiliated with LandOrc. The overcollateralization ratio of 2x is to ensure sufficient liquidity cover in the event of a force-sale situation. Funds will only be released after completion of all these processes.
LandOrc would enable real estate developers to gain access to a global capital marketplace as well as borderless crypto ecosystem, allowing them to secure financing at a comparatively lower interest than their domestic markets and without costly fees, slow processes and restrictive conditions that is typical of mainstream financing options like banking loan.
Staking Opportunities for Digital Asset Owners and Crypto-Investors Alike
LandOrc offers Digital Asset owners (who own LORC tokens) to take part in their exciting investment avenues through staking opportunities. The rewards are backed by the interest rates being charged on LorcFinancing. Information on real estate and/or project development details, collateral and rate of return will be transparent and this will enable crypto-investors to easily identify opportunities across the platform or for specific projects.
To take part in the staking process you need to own LORC tokens. Head to https://landorc.io/ to purchase yours now. With the real use case of LandOrc, LORC tokens’ value might go higher after the public sale that is going to be at $1.00 per token. Digital asset owners and/or crypto-investors will be offered a staking reward or annual percentage rate (APR) that the specific chosen real estate assets and/or development project will deliver. This APR will be included in the staking smart contract.
The staking smart contract covers, based on percentage of staking, the proportionate amount of collateral value associated with the specific real estate assets in the event of a default on the repayment of LorcFinancing. This process, should it arise, will be featured in the platform after being validated and sale of the collateral executed by independent specialists.
Crypto-to-Fiat Conversion Through Respective Local Digital Asset Jurisdiction
Crypto transaction is not a legal tender in almost all jurisdictions in the world. Hence, the successful developers will get their funding through conversion of LORC to fiat currency of his respective jurisdiction or country. The conversion to fiat is done in a jurisdiction with an existing Digital Asset legal framework (Digital Asset Hub) and the prevailing fiat value is then transferred to the respective property developers as foreign direct investment (FDI) or short-term business loan via a locally domiciled affiliated special purpose vehicle entity or SPV. Oter than disbursing fiat currencies these SPVs will also the legal entity that holds the pledged collateralized assets under LorcFinancing. The SPVs that operates within the same jurisdiction with the real estate owners and/or property developers will ensure compliance with local authorities and on-the-ground communication point.
Under LorcFinancing smart contract, the real estate owner and/or property developer will be obligated to pay
(i) the contractual periodic interest payments to the affiliated SPV in local currency; and
(ii) repayment of principal LorcFinancing amount in local currency to the SPV.
Once the financing period matures, the affiliated SPV will process the loan repayment remittance of the equivalent fiat to the Digital Asset Hub. At the Digital Asset Hub, all fiat remittance will be converted into LORC of the equivalent value based on prevailing rates at the exchanges. This converted LORC would then be returned back to the respective Digital Asset owners’ wallets in accordance to their staking smart contracts as part of fulfilling contract obligation.
Best Platform, Perfect Solution
LandOrc has successfully identified a niche area that has been hard to be tackled in the real estate industry by many. They have combined both on-chain and off-chain methods to come up with the best ever solution for the industry. At the time of writing, LandOrc is already progressing through their negotiations with SPVs of a few countries (10 to be exact). They will be revealed at the right time. LandOrc is eager to welcome even more SPVs onboard. SPVs can range from credible financial and non-financial institutions, government bodies or even legal departments. Those who are interested, no matter which country you are from, feel free to write to LandOrc through navonil@landorc.io Remember to purchase your LORC at https://landorc.io/ One more day to complete their pioneer sales. From 30th August 2021 onwards you will need to get the LORC tokens through their private sales that starts on 30th August 2021. You can access it through https://landorc.io/private-sale.html An opportunity you should never miss to access real estate market globally through LandOrc platform, the first and only one of its kind.
