Axioma Holding, an Italian-based company was founded back in 2019. The platform’s goal is to facilitate peer-to-peer transactions in the global real estate market by introducing smart contracts.
Axioma Holding relocated its headquarters to the United Arab Emirates in 2022 to comply with Dubai's 2030 strategies for businesses operating in the blockchain and metaverse space by cultivating affinities with clients and concerned digital asset traders.
The business collaborated with BNB Chain and AXT as the payment processor to accomplish a deal that will significantly impact the global real estate market and tokenize assets worth more than EUR 535 million.
Mission
To keep the whole process uninterrupted, secure, and hassle-free, the company used an asset management platform and took control of the development and audit of smart contracts for real estate.
Smart contracts adoption brought multiple advantages to the project:
- Facilitated asset management processes automation
- Helped to establish compliance requirements
- Speeded up the KYC/AML confirmation
- Simplify payment validation and transaction processing
How does AXIOMA Work?
The parties willing to work out an agreement may use the platform to enact and maintain various types of transactions: property sale, purchase, and rent.
The company utilizes smart contracts for real estate to streamline transaction management. BEP-20 smart contracts, AXT tokens, and Binance Blockchain help to record the property transaction data.
The marketplace utilizes Blockchain to ensure safe tokenized property exchange and to provide the active users with small crypto rewards for taking active actions (e.g., listings review).
As a result, all the parties involved in the real estate transaction spend less time discussing details, and coordinating efforts and are closing the deals faster.
The platform's own tokens (AXT) are transformed into the paying party's preferred currency and applied to the contract that is made. It was agreed to assign a maximum of 33% of the real estate worth to each participant.
For a smart contract in real estate developed by AXIOMA Investments to work properly, the partakers have to discuss and agree upon all terms as mentioned below
- It may be sold after six months have passed since the purchase date.
- The ROI is paid out one year after the date of purchase conditions that can be coded into an agreement may include but aren’t limited to:
- Trade amount
- Payment deadline
- Full / JOINT payment
- Duration of a contract
- Discounts and penalties
- Transaction deposit
- Agreement between the Physical and Digital Valuation
Once all the terms are cleared and understood, AXIOMA Investment creates a smart contract that regulates the relationship between the parties. The completion of the variable (e.g., the final payment successfully received) coded into an agreement triggers the contract execution. The partakers may either renew the existing contract or create a new one if needed.