Propy

Propy

PRO
$1.4%-10.61

Key Metrics

Price$1.4
Real Volume (24H)$4,967,994.78
Marketcap$139,935,639.39
Fully Diluted ValuationN/A
ATH$5.15
ATH Date1/5/2018, 3:00:00 AM
ATL$0.0303544
ATL Date3/13/2020, 5:24:40 AM
Circulating Supply58M
Total Supply100M
WebsiteN/A
WhitepaperN/A
Popularity Rank333
Chart
What is Propy?

Propy (PRO) is a revolutionary real estate platform that utilizes blockchain technology to streamline the property buying and selling process. By utilizing cloud and blockchain technology, Propy connects real estate participants, such as buyers, sellers, registries, and traders, from all over the world. The platform aims to make real estate assets more liquid and give users greater control over the transaction process.

One of the key features of Propy is its use of blockchain technology as proof of ownership in real estate transactions. The platform utilizes a private key to cryptographically validate blocks, which serves as a form of authentication to sign digital transactions. This attribute makes blockchain a secure technology for digital asset transfer, making it the perfect solution for managing real estate transactions through smart contracts, which ensure trustless infrastructure.

Propy supports three varieties of transactions on its platform, all of which are backed by the Propy protocol and recorded on the blockchain through smart contracts. The platform aims to support transactions using traditional currencies and mortgages that are listed on the site, as well as accepting a few cryptocurrencies as a means of payment for properties listed on the platform. Additionally, Propy tokenizes the real estate sector, allowing homeowners and property brokers to be a part of the process and history.

The platform offers NFTs for an entire property, a fraction of a property, and even 20% of a property. This allows for a new level of collectibility in the real estate market, with trophy properties such as those in prominent locations or with unique digital art and architecture becoming highly sought after.

The native token of the platform is PRO, an ERC20 token that is used for a seamless user experience. The platform enables users to write new data to the Propy registry using the interface in two ways; by creating a new title or transferring an existing title. The registration and modification of a property require the execution of a deed contract and title contract, and the Propy registry makes use of PRO to pay the related registry fees.

The Propy whitepaper states that the PRO tokens have a fixed supply and do not increase corresponding to demand. However, the team aims to reserve 35% of the total supply of PRO for network growth and incentivize platform participants by rewarding them for joining the platform. Furthermore, Propy also aims to distribute PROs from the network growth development pool to government and other major institutional entities to encourage them to use the platform.

Propy was co-founded by Natalia Karayaneva, Maria Angelova, and Denitza Tyufekchieva in 2016. The company, based in Palo Alto, is supported by leaders of the National Association of Realtors and Silicon Valley. The CEO, Natalia Karayaneva, has over 15 years of experience in the real estate industry and is committed to simplifying real estate transactions. The Propy team released their first whitepaper in July 2017, with a V2 in 2021.

Disclaimer

The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.

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