• 13 Mar 2023

    |

    Blocksquare (BST) Listing Vote

    Blocksquare is Developing APIs and solutions for the tokenization of real estate, including a protocol, white label platforms and defi bridge. They are applying for Deepwaters to list their BST token.

    Madeleine

    Head of Community

    • March 17, 2023 update: The vote was held from March 13 - March 16, and the community & team vote has passed with 11 votes for, 2 against, and one abstention. We will be working with Blocksquare on the listing of BST.

    Deepwaters Analyst Report: Blocksquare (BST)

    At-a-Glance

    Project

    • Project Summary: Developing APIs and Solutions for the tokenization of real estate, including a protocol, white label platforms and defi bridge. 

    • Founded: 2018

    • Website: https://blocksquare.io/ 

    • Team Size: 12

    • Stage: Operational product (v1); growth stage

    • Whitepaper - https://docs.blocksquare.io/ 

    Token

    Table of Contents

    • At-a-Glance

      • Project

      • Token

    • Table of Contents

    • Summary

      • Project Overview

      • Market Opportunity

    • Token & Tokenomics

      • Tokenomics

    • Founders / Key Team Members

      • Additional Notable Team Members

    • Technical Development

      • Roadmap

      • Contract Audits

    • Fundraising / Financial

    • Traction / Community / Media

      • Social Media

      • Selection of News

    • Disclaimers

    Summary

    Blocksquare appears to be a very strong project with an impressive team. They are changing the way that the world invests in real estate. Real estate is the biggest asset class in the world. At the same time it’s also one of the most illiquid investments you can make. As a result, investors engage only in the top markets, leaving 100s of smaller markets suffering from illiquidity.

    Tokenization offers the ability to match available market demand by reaching investors of any size. A solution that can increase liquidity for a wider selection of players in the commercial real estate investment space.

    With reputable partners including Deloitte and CV Labs among others they are an exciting project with solid tokenomics and a strong focus on community. 

    Project Overview

    Blocksquare is a technology company building the required infrastructure to transfer real estate assets to the internet. Businesses of all types — from startups to large enterprises — can use Blocksquare’s solutions and APIs to digitize the value of real estate properties, launch their investment platforms and connect people to tokenized real estate deals online.

    Unlike many platforms which seek to perform the tokenization of real estate themselves, Blocksquare has adopted a platform model, providing other companies with the infrastructure to tokenize real estate assets and provide tokenized real estate markets. Metaphorically speaking, they intend to be the Shopify of real estate tokenization. Blocksquare's vision is to power 100s of platforms across the globe, connecting investors to real estate opportunities in their region.

    Blocksquare offers three main products:

    1. Real estate tokenization protocol

    2. White-label marketplace 

    3. DeFi bridge

    Market Opportunity

    According to Savills, The value of all the world’s real estate reached $326.5 trillion in 2020, a 5% increase on 2019 levels and a record high.  Growth was driven by residential which is by far the largest real estate sector, accounting for 79% of all global real estate value.  It saw its value increase by 8% over the year, to some $258.5 trillion.

    The world’s most significant store of wealth, real estate is more valuable than all global equities and debt securities combined, and almost four times that of global GDP.  The value of all gold ever mined pales by comparison at $12.1 trillion, at just 4% the value of global property.

    Token & Tokenomics

    The Blocksquare Token BST is the governance token that serves as the basis for the Oceanpoint ecosystem. To vote on proposals posted on Snapshot, BST holders need to first deposit and stake their tokens in the Governance pool. Staking also enables BST holders to passively accumulate more BST as the protocol grows.

    There are three ways to earn BST tokens:

    • Participating in Oceanpoint pools. Each listed pool is assigned a share of all BST tokens accumulated for rewards and distributed to participants proportionate to size of stake in a specific pool.

    • Providing liquidity. Liquidity Providers to the BST-ETH Uniswap pair are incentivized with BST similarly to other pools. Note: The trading pair will be incentivized only after v0.2 is launched.

    • Staking your BST. Users can deposit their tokens to the Governance pool. Staking BST enables token holders to passively accumulate more BST as the protocol grows and receive sBST to vote on proposals posted on Snapshot.

    BST tokens are 'deposited' to pool participants, and held by the pool smart contract until a participant broadcasts a transaction to exit the pool, whereupon the BST is delivered to their address.

    At the moment, BST can only be purchased via Uniswap. 

    Tokenomics

    Team BST vesting: 24 months after launch of v0.1 (22.2.2024) Mentors BST vesting: 12 months after launch of v0.1 (22.2.2023)

    The biggest chunk, 40% out of the 100M BST total supply, has been allocated for liquidity mining rewards. Although this initially set allocation to incentivise the early community could be changed through a governance vote, the distribution schedule is currently set to:

    • 1,000,000 BST / month for the initial 3 months after launch (launched on Feb 22, 2022)

    • 500,000 BST / month until the 40M BST is reached (approx. 6 years)

    Rewards will initially be directed 100% to the Governance pool. Once real estate staking is introduced with v0.2, the monthly reward will be split 50/50 between Governance pool and the first Asset pool. With v0.3, when Liquidity pools are introduced, the BST:ETH liquidity pool deployed on Uniswap v2 will receive 50% of monthly BST rewards, while the Governance pool and Asset pool shall split 50/50 the remaining 50%. The split between pools shall from that point on be governed by the community through voting, however, the team encourages a split as depicted in the graphic below.

    BST Buybacks: Once real estate owners start staking in the Asset pool, their real estate asset tokens i.e. BSPT become part of Oceanpoint, and after the 6 months lock-up period, Blocksquare might exercise the legal right to revenues generated by these real estate assets. BSPT tokens owned by Oceanpoint will thus accrue DAI used to buy BST on the market to be distributed to active users of Oceanpoint.

    Founders / Key Team Members

    Additional Notable Team Members

    Technical Development

    Roadmap

    Blocksquare does not have a publicly announced roadmap however they do have a roadmap page found in their investment deck. See below:

    Contract Audits

    Blocksquare has 3 Audits completed by Hacken from Mar 28,2022, Jul 06,2022 and the latest from Feb 09,2023 - https://hacken.io/audits/#blocksquare

    Fundraising / Financial

    Please note: Deepwaters does not ask projects for financial documents and relies on the statements of the projects.

    Blocksquare reports that they are generating enough revenue and keeping a moderate burn rate to be able to continue operating, however, they are planning to raise capital in the upcoming months to boost market presence and accelerate growth.

    Traction / Community / Media

    Social Media

    • Twitter: 13,900 followers [link]

    • YouTube: 2,150 subscribers [link]

    • Telegram: 812 members [link]

    • Discord: 1,222 members [link]

    Selection of News

    Disclaimers

    This report of the Blocksquare Token (the “Token”), issued by Blocksquare (the “Issuer”) is made by Deepwaters EU s.r.o., a Czech limited liability company, company number: 179 11 257, with its registered seat at Rybná 716/24, Staré Město, 110 00 Prague 1, Czech Republic, email: info@deepwaters.xyz (the “Exchange”).

    This report is not, nor should be considered, an endorsement, approval or disapproval of any particular project, team, code, technology, asset or anything else. This report is not, nor should be considered, an indication of the economics or value of any technology, product or asset created by any team or project. This report does not provide any warranty or guarantee regarding the quality or nature of the technology analysed, nor does it provide any indication of the technology’s proprietors, business, business model or legal compliance.

    To the fullest extent permitted by the applicable law, the Exchange disclaims all warranties, expressed or implied, in connection with this report, its content, and the related services and products and your use thereof, including, without limitation, the implied warranties of merchantability, fitness for a particular purpose, and non-infringement. This report is provided on an as-is, where-is, and as-available basis. The Exchange does not warrant, endorse, guarantee, or assume responsibility for any product or service advertised or offered by the Client or any third party through the product, any open source or third-party software, code, libraries, materials, or information linked to, called by, referenced by or accessible through the report, its content, and the related services, assets and products, any hyperlinked websites, any websites or mobile applications appearing on any advertising, and the Exchange will not be a party to or in any way be responsible for monitoring any transaction between you and the Client and/or any third-party providers of products or services.

    This report should not be used in any way by anyone to make decisions around investment or involvement with any particular project, services or assets, especially not to make decisions to buy or sell any assets or products. This report provides general information and is not tailored to anyone’s specific situation, its content, access, and/or usage thereof, including any associated services or materials, shall not be considered or relied upon as any form of financial, investment, professional, tax, legal, regulatory, or other advice.

    This report is based on the scope of materials and documentation provided for a limited review at the time provided. The Exchange prepared this report as an informational exercise documenting the due diligence involved in the course of listing of the Client’s token on the Exchange only, and this report makes no claims or guarantees concerning the smart contract's operation after listing. This report provides no opinion or guarantee on the security of the code, smart contracts, project, related assets or anything else at the time of listing or after listing. Smart contracts can be invoked by anyone on the internet and as such carry substantial risk. The Exchange has no duty to monitor the Client’s operation of the project and update the report accordingly.  

    The information contained in this report may not be complete nor inclusive of all vulnerabilities. This report is not comprehensive in scope, it excludes a number of components critical to the correct operation of this system. You agree that your access to and/or use of, including but not limited to, any associated services, products, protocols, platforms, content, assets, and materials will be at your sole risk. On its own, it cannot be considered a sufficient assessment of the correctness of the code or any technology. 

    Deepwaters has conducted the analysis for its own internal purposes and should be perceived as such, therefore, Deepwaters recommends seeking multiple independent opinions on any claims which impact any functioning of the code, project, smart contracts, systems, technology or involvement of any funds or assets. Deepwaters’s position is that each company and individual are responsible for their own due diligence and continuous security.

    © 2023 Deepwaters EU, s.r.o. All rights reserved.

      Sign up for our newsletter.