Telos, a web3-based blockchain platform, today announced that no-code Dapp development platform Katalyo will be using the Telos blockchain to tokenize real estate in Croatia. Worth approximately €30 million in total, the properties are located on the coast of Croatia, one of the most beautiful places in Europe to live and visit.
Several Croatian real estate portfolios will be tokenized on the Telos blockchain, with token holders receiving dividends in the form of fiat-based stable coins generated from rental revenue. Two tokens will be issued, one representing ownership of the real estate, and the second a fiat-based stable coin for dividend payouts. The Katalyo platform will support the entire end-to-end process of investing, including KYC/AML, and give investors the ability to sell their shares via a smart contract.
“We are at the dawn of tokenization revolutionizing the real estate industry. Telos has been building toolsets to make it easier for developers to create instantaneous, fee-less, transparent, and governed tokenized economies as well as the adjacent tools like DeFi, cross-chain transactions, decentralized data storage and oracles that increase their value even further. With Katalyo now bringing their innovative no-code development suite to Telos, I expect to see an explosion of new tokenized projects,” said Douglas Horn, Chief Architect of the Telos Blockchain.
“Telos is one of the most advanced blockchains for performance and is extremely well-suited for tokenizing real estate,” said Ivica Ljubicic, Co-Founder of Katalyo. “With Telos, we have the tools we need to support a sophisticated platform, which helps us welcome investors to the Croatian real estate market.”
The Telos network currently supports 10,000 transactions per second (TPS) with zero transaction fees. In addition to increased speed and capacity, Telos has many advantages over other platforms that make it the most advanced blockchain software for building new smart contracts and decentralized applications. In addition to Katalyo, Telos also continues to join with other partners in the crypto space, including social impact startup All_EBT, interoperability platform Transledger, creative platform Newlife, privacy-focused social media DApp Murmur, and trading protocol EvolutionDex.