KardiaChain x LABS Groups AMA Recap
After announcing the partnership between KardiaChain and LABS Groups, both teams were really eager to set up and immediate AMA to share and celebrate the mutual understanding of our beliefs in the capability of blockchain technology, and how this collaboration is the fantasy team-up to reach new heights in the real estate market with tokenization and NFT. The AMA, hosted by KAI Ambassador Nico Verderosa, occurred at 7 p.m +7 GMT on Monday, 22 Mar, 2021. The First part of the AMA are questions filled in a Google Docs, the second part are questions from KardiaChain’s community on Telegram.
Nico — 🅚🅐🅘 Official Ambassador,
It’s my pleasure to introduce @Yuen_Wong, CEO of LABS Group and @Pat_Labs, Managing Partner of LABS.
And, of course, we all know @lewtran, Head of Engineering of KardiaChain and @AstridnDAG, Head of Marketing and Partnerships of KardiaChain.
Welcome everyone! So happy to have you all here today.
How are you doing?
Yuen,
Hi everyone, thanks for having me here
Astrid,
We’re great to have our dear guests today from Labs group!
Yuen,
Watch “Introduction to LABS Group” on YouTube
A quick video about LABS🙏😌
Astrid,
Labs’ s exposure is good in Vietnam, they have Megala Ventures invested in and other community in Vietnam love Labs! Congratz on current success @Yuen_Wong
Yuen,
Thanks and it is our honor to have support from the lovely Vietnamese communities.
I would really like to be involved more here and also to share our updates and developments with you all.
This is just the beginning and so enjoy the ride together with us.
Nico — 🅚🅐🅘 Official Ambassador,
Alright!! It´s good to have one of Kardiachain’s latest partners here with us to answer some good questions the community members have asked. Are we ready?
We have a few preselected questions and then we will open the chat for further ones.
Astrid,
I believe we’re both ready ❤️ Lets go
Yuen,
Let’s shoot…in a nice way😀
Nico — 🅚🅐🅘 Official Ambassador,
The first question is for LABS…
Nico — 🅚🅐🅘 Official Ambassador,
Question 1: The user @SPADE_1 has asked: What are the barriers that blockchain and digital tokens face the real estate industry? How did the Labs remove those barriers
Yuen,
Well the real estate industrial pain points have always been first and foremost the lack of liquidity.
Then followed by the high barrier to entry and the high transactional costs.
While blockchain and digitisation can change and resolve these, it did face the challenge of legislation and the traditional people not understanding and accepting digital currencies.
However, things have certainly changed. And sad to say though Covid has certainly helped in the adoption of digitisation movement.
So yes, digitizing real estate means they can be transacted in smaller amounts in a more efficient and cost effective manner.
Nico — 🅚🅐🅘 Official Ambassador,
Yes, the whole COVID scenario has pushed blockchain technology towards mass adoption, for sure.
Nico — 🅚🅐🅘 Official Ambassador,
and speaking of that…
Question 2: The user @panda5151 would like to know your input on the following: When do you think people or the government will start to accept the ownership of each property through NFTs? If so, for example a non citizenship of a country can own a property of another country?
Yuen,
Well, not all governments would encourage that but on the other hand not all governments will discourage that.
It really depends on the government outlook and attitudes toward digitization.
Some economies are more open, such as Singapore, some are more closed and protective.
Just like bitcoin, some welcome and some hate it.
However, the mid to long term speaking, most have no choice but to accept that it is going to happen.
So yes, thru a SPV and digitisation, meaning digitizing the shares of a investment holding company, one can indeed own a property in another country.
Nico — 🅚🅐🅘 Official Ambassador,
That’s great!
It’s a true road to decentralization.
Yuen,
Yes, decentralization for everyone.
Nico — 🅚🅐🅘 Official Ambassador,
Let’s talk about LABS project in particular…
Question 3: Many new projects develop well at first, but then fail to achieve good results. How will you manage and develop your project to gain a position in the market and become a good project in the blockchain industry?
Yuen,
Well, admittedly, LABS is not the first, and definitely will not be the last to do property tokenisation.
However, we do see the others not being able to achieve what they could have been.
I think one core reason is that they are firstly real estate people, or finance people. And they tend to think in a traditional way.
As for LABS, we are firstly blockchain people, then real estate, then finance, then legal.
We first think of how blockchain can change certain sector and make it better. And we adopt blockchain spirit by embracing the community spirit, make it open and transparent, and embrace partnerships.
Then of coz LABS is s very practical team. Look at our model, it is definitely a hybrid and innovative model.
Nico — 🅚🅐🅘 Official Ambassador,
You definetely have that in common amongst the two teams…Kardiachain and LABS I mean.
Yuen,
It has property project tokens which are of securities nature, and yet LABS tokens are utility.
It has centralised part which is the regulated exchange, yet it has defi collaterised lending which is decentralised.
And lastly, definitely the timing. Market timing is really important.
We have worked since 2018 to have arrived here. We have worked hard to be lucky.
Nico — 🅚🅐🅘 Official Ambassador,
Let’s give LABS a breather, next question is for Kardiachain team…
Nico — 🅚🅐🅘 Official Ambassador,
Question 4: @AstridnDAG A user would like to know what is KardiaChain strategy for building a strong community? Do you agree that the power of the community will lead your project to develop globally?
Astrid,
Of course, the community is helping us to go far like today.
You know, when your product is good, it really boosts your confidence in promoting it. And when your product is good, it just needs a nudge for other members to know about you and believe in you!
We did IEO in April last year, when our Twitter page had only 1000 followers, then 8k followers in July — the first ATH at 5 cent when we released multiple good news and product development, big cap project partnerships. We now reached 21k followers.
We cannot be here without community! We were at the bottom around IEO time but EU community found out about KAI and researched in KAI, they invested much and then earned decent for their belief. This is proof for the good product being marketed well.
Yuen,
Really impressive😃
Nico — 🅚🅐🅘 Official Ambassador,
Let me just add a follow up question here of my own, Kardiachain was originally thought for Vietnam and SEA. Have you ever imagined it would become this popular this quickly in other areas of the world?
Astrid,
From the other half of 2020, when we launched more apps for Vietnamese users, announced partnerships with big corporation in the nation such as Geleximco, Mai Linh taxi, the list of Vietnamese enterprises to become our validators, the belief of local users put in us is unparraleled. We all went to home country from US, UK… to build Vietnam. Then later in 2020, after the partnership with VNDC, with nearly 1mil users in their community. KAI exposure is getting skyrocket growth in local.
Astrid,
Other focused market as Korea, China, South-East Asia have also supported KAI. We have decent base from the West and the East to spread the KAI ability to everyone.
Yuen,
Interesting….Let’s also try to change the real estate scene in Vietnam as well…together that is.😊
Nico — 🅚🅐🅘 Official Ambassador,
I’m sure this partnership will bring exactly that.
Astrid,
US market is the decent market for KAI, we saw great traffics of users, holders, traders and community members from US. As such you can see the latest news about Simplex opening fiat gateway to buy KAI.
Nico — 🅚🅐🅘 Official Ambassador,
Yes, the US investors must be happy with that!
Ok, last 2 questions of this first part and then we open the chat for a few more.
Question 5: So @Yuen_Wong , you mentioned that there are project tokens (which are securities) and utility tokens. @RushinBerdi has asked: How is the labs utility token correlated with the security token? If i want to own a fraction of a real estate asset i need to buy the ST or hold the LABS utility token? Does revenue generated at all levels flow back to the utility token to a certain extent?
Yuen,
Well the property tokens that are launched within the LABS ecosystem will mostly be security tokens as long as we distribute the income directly back to the token holders.
LABS tokens are designed differently though
LABS tokens are Ecosystem tokens (Utility tokens) with our special G.A.I.N.S. model :
Yuen,
G.A.I.N.S model:
…Governance
Our token holders can vote on important matters of interests.
…Access
LABS token holders can get early access to real estate projects that the ecosystem introduces.
…Incentives
LABS token holders can get incentives should they decide to get involved in our projects on our ecosystem.
…Nomination
LABS token holders can nominate projects they wish to be launched on our platforms and be rewarded.
…Staking (for rewards)
LABS token holders can stake the tokens to get rewards. LABS will use its governed 80 percent profit generated by the LABS ecosystem to buy back LABS tokens from the open market in a quarterly manner, and distribute to the staking pool in accordance to the size and days staked in the pool.
By buying back from open markets with the ecosystem profits, the token price would be boosted and holders will be rewarded when the ecosystem gets even bigger traction.
This unique mechanism will address the needs of short term investors and mid long terms holders.
Nico — 🅚🅐🅘 Official Ambassador,
Excellent!! that will make everyone super happy I’m sure!
Yuen,
Hence in short, even if we allow people to use LABS tokens to buy property tokens, proper kyc needs to be conducted.
Nico — 🅚🅐🅘 Official Ambassador,
Alright…this last question is for both teams and then we move on to the next part of this #AMA session.
Nico — 🅚🅐🅘 Official Ambassador,
Question 6: What are your top 3 priorities for 2021?
@Yuen_Wong do you want to take the lead to answer this one?
Yuen,
For LABS, it will be conducting our lucky draw hto reward the liquidity provider and nft membership purchasers) successfully as it is our major promotion campaign, whereby we will give away a luxury resort unit in Phuket.
Then launching our platform and regulated exchange, which is approved by the government to target retail investors.
And lastly, hopefully our planning on launching NFT on property will be a breakthrough.
Yuen,
Oops, like to add one more, which is to make our partnership, including with Kardiachain, from a dream to a reality😌🙏
Nico — 🅚🅐🅘 Official Ambassador,
Alright! and what can we expect to be top 3 priorities for Kardiachain @lewtran?
Lew Tran,
Our goals for 2021:
1. Listing on other T1 exchanges
2. Mainnet 2.0 with fully functional dualnode, KSLM, crosschain data transfering, and expand its ecosystem (kai dex, crosschain swap, defi, nft…)
3. 1M active users and over 100M organic transactions
Nico — 🅚🅐🅘 Official Ambassador,
😊 That was assumed, but nice to read it, too.
Yuen,
Amazing stuff which will become the facts.
Lew Tran,
That looks promising @Yuen_Wong ❤️
Astrid,
That’s why we’re here and now ^^
Nico — 🅚🅐🅘 Official Ambassador,
Ok, thanks for this first part guys and girl! You’ve all been great!
Astrid,
Thanks @Yuen_Wong @Pat_Labs
Patrick (Will never PM you first),
Thanks everyone for hosting!
Nico — 🅚🅐🅘 Official Ambassador,
I’ll open the chat now for the audience to shoot some more Qs. Sounds good?
Astrid,
Yes please do
Yuen,
Ready, set…And go…
P 🅚🅐🅘 B 🅚🅐🅘,
Question 6: What is the average price of a property in vietnam and what would be the maximum an investor could invest eg could one in theory purchase a property with their kai and resell or rent it out to make future gains? And not even step foot in the country
Lew Tran,
Avg of 2400 USD per square meter in Ho Chi Minh City and 2800 USD in Hanoi Capital City, and you know Real Estate grow overtime.
Yuen,
Well for LABS, we are not sure about the average price of property in Vietnam. But I have heard that foreigners are allowed to own Vietnamese property.
Hence we could move property title to a SPV and then tokenise it, being the shares, and then sell it at 100 USDT slices or fraction.
Hence even one person in Japan, Singapore or even Europe, can indeed own it indirectly.
Lew Tran,
IMO Labs do a great jobs to reduce the government workloads and traditional paperworks and It can apply in any country
P 🅚🅐🅘 B 🅚🅐🅘,
Amazing thank you so much for your reply
Daniel McK,
Question 7: Are the Kai and Labs team able to speak about something more specific regarding partnership goals? For example, tapping into the Vietnamese real estate? Is there any specific areas in Vietnam to collaborate on in real estate tokenisation?
Astrid,
Please take a look at Labs use cases and KardiaChain use cases, you can see we have multiple mutual points here.
For KAI team, real estate is a promising market, not to say the real estate market in Vietnam — the top fast-growing economy in South East Asia with bulidings and skyscraper mushrooming every year.
Let’s take a look at Geleximco, Phu Long Real estate validator, and others name (I can not disclose here now but you will know when official announcement comes). The DeFi Vietnam plan with 5 steps to tokenize many sectors will shed some lights on this.
Vietnam startups landscape is an open place to do business. Our demographic is golden with young generation who are tech-savy and sensitive to innovation. While you know KardiaChain has great collaboration with enterprises here.
Labs team is not only doing NFT but also doing it in real estate market, owns the security exchange and as they shared, they start themselves from blockchain and know deeply what blockchain can drive us, we share the mutual goal for mass adoption of blockchain to real life, equip users with equal opportunities to invest. Fractional investment through NFT real-estate is the driving force for better opportunities.
Yuen,
Model answer😀
JaIroc,
Question 8: Hello, can you please tell me what Kardiachain can do for LABS that your your partnerships with RioDefi and ENJIN can’t do?
Yuen,
Well we have learned that Kardia is an expert in cross chain NFT😌😃
Astrid,
Cross-chain features are included in Labs roadmap if you can see! KardiaChain strength is non-invasive interoperability with hybrid solution to connect any private or public blockchain.
JaIroc,
Thank you and good luck!
Rob — CFO 🧮,
Question 10: What will be security/collateral for investment in Labs (not in property)? & what will be planned IRR for projects? Thx! 🙏
Yuen,
If you are taking about investing in LABS tokens, then the value is backed by LABS ecosystem profits which has been mentioned earlier.
If you are talking about those property projects within the LABS ecosystem, then the collateral will be the property title held within the SPV or with the custodian.
The IRR for the former is naturally high given its nature, while the latter would hover around 10 to 20. Free with property leveraging using pour collaterised lending, you can leverage like a professional without using to queue in banks and wait for months.
Rob — CFO 🧮,
Thanks & good luck with the project! ✌️
Nico — 🅚🅐🅘 Official Ambassador,
Alright, I think we got some very good answers from both teams. I want to thank our guests from LABS and of course Astrid and Lew from Kardiachain for reassuring us all how bullish this year will be!
Thank you all for tuning in!
