Recapitulation of LABS GROUP PROJECT AMA event held at AMA LOVERS CLUB.
Date: Saturday, 27th February, 2021
Time: 13:00 UTC
The LABS GROUP PROJECT team was represented by @Yuen_Wong who judiciously shared with us detailed knowledge and information about LABS GROUP PROJECT.
1st Segment: INTRODUCTION
Q1: Can you please introduce yourself and your background, also introduce the Team working on the LABS project?
ANS: My name is Yuen, and I'm the founder and CEO of LABS Group, which is a digitised real estate investment ecosystem powered by blockchain.
My background has always been in blockchain and real estate, and that’s why I’m doing this great project with a great team!
Prior to launching LABS, I was Managing Partner for a UK property company and I'm still involved at times in Bitmart exchange as a partner.
LABS team includes plus chairman Mahesh, who is from the renowned Harilela Family in hong Kong, which privately owns 19 4 to 5 stars hotels.
And LABS team also includes professionals from blockchain, real estate, finance and legal.
It took us some good to assemble this great and comprehensive team:)
Q2: Can you introduce the LABS project, what critical problems does it solve that existing solutions are not solving and what's the competitve advantage?
ANS: LABS, which stands for Liquifying Asset Backed Securities, is a Digitised Real Estate Investment Ecosystem.
LABS' vision is to make real estate for everyone by changing the way people invest in real estate thru digitalisation, thereby solving the high involvement and transactional costs as well as illiquidity.
The blockchain powered ecosystem is comprised of:
1. Primary trading platform: the token issuance and Crowdfunding platform
2. Secondary trading platform: Digitised Real Estate Exchange, regulated and able to target retail investors.
3. Auxiliary DeFi platforms: staking pools, collaterised lending platform and integration of DEX.
With the digitization of real estate powered by blockchain and Defi, LABS can solve the real estate pain points:
2. High involvement costs
3. High transactional costs
4. Difficulty in cross border involvement and transaction
So with LABS, and our exchange that is allowed to target retail investors, and by fractionatising real estate and making it intro small digital shares, we can solve the liquidity issue.
As well as lowering both the involvement costs and transactional costs, since people can invest with as low as 100 USD.
And transactional costs are reduced since rental yields and sales proceeds can be sent thru the network and directly into investors wallets.
Cross border investments now become easy sincew we can do the due diligence and legal works on behalf.
Q3: Can you briefly describe the Top milestones you have achieved? and your target milestones with timelines, also share your roadmap?
ANS: LABS has started this journey since 2018. And only until recently we think the timing is right and we have enough traction to finally launch this and get people impressed.
We have just completed our private rounds...raising 6M in 12 days or so.
We will be starting our public sales.
First with Duck Starter, then with Poolz.
After which, we will do our IDO with Uniswap in about mid March.
Our issuance and crowdfunding platform has been built and ready for showcasing.
We will announce our exchange license and the first batch of properties to be tokenised.
And LABS has formed strategic
Partnership with centrifuge, Enjin and polkacover.
And more bigger ones are coming
And we have blockchain KOLs who love our idea and have chosen to join us on spreading our project and vision.
Including Mandy, Ivan on Tech, Boxmining and... 5 mins ago, just got confirmed on tehMoonwalker.
Q4: Can you briefly describe your PARTNERSHIPS, we got notified this week that the Sale would be in POOLZ, Can you give a run down for the investors to participate?
ANS: Yes of course.
Centrifuge is focused on bringing traditional assets on chain and having them funded. So with centrifuge, we can work together to have real estate tokens pooled there and being funded, say thru collaterisation.
We are also working with one of the largest lending platform to have the liquidity support and solutions.
As for Enjin, I think many will be familiar with them since they are the largest nft project out there. We work with them to marry up nft with property.
For example, in a hotel with 100 rooms, we can issue 100 nft tokens to represent them. All direct revenues can be attributed directly into those nft. Can also design some time sharing into them as well.
As for polkacover, they are into defi insurance, so I guess this is easy to understand.
We have some bigger ones coming and we are working to release them among the way, so stay tuned.
As with Poolz, the CEO and team really like our idea, and of coz we also like the way they do things.
Hence we will be launching on their platform to conduct the public sales.
For the exact rules in how to be involved, Poolz will publish soon on this. So sign up to their community and watch closely:)
Q5: Can you give an overview of your Tokenomics, and the UTILITY of the LABS Token?
ANS: Remember the date: 8th March
LABS tokens are Ecosystem tokens (Utility tokens) with our special G.A.I.N.S. model :
Our token holders can vote on important matters of interests.
LABS token holders can get early access to real estate projects that the ecosystem introduces.
LABS token holders can get incentives should they decide to get involved in our projects on our ecosystem.
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.
So you can see LABS is a very unique and hybrid business model, in which its ecosystem runs ST but its LABS tokens are utility tokens, such are value backed. Best of both worlds.
LABS tokens are priced at 0.006USDT publicly.
2nd Segment: LIVE Questions
Q1: Your project is the first to introduce the G.A.I.N.S model (Governance, Access, Incentives, Nomination, Staking) on its utility token. This is a very strong combination. So what do you think this strong combination will bring to your LABS and its users?
ANS: Well yes, we have thought very hard to come up with this GAINS model, and always remember we are the one to first create this:)
As you look at how we design it, the LABS tokens encourage win win for all, encourages openness and collaboration, encourages crowd participation.
And lastly the design simply ensure that LABS success will be LABS token success too, since reward will go direct to the holders.
And always remember, LABS tokens are valued backed and will never go to zero. However, many pure DeFi projects, one day could.
Q2: LABS is making hugh improvements in the Real Estate investment by including blockchain solutions to automate and facilitate the work, are you still incorporating the traditional human hand work to this solutions or it will be all automated in the future?
ANS: In our opinion, no amount of automation and technical integration can take away the human touch and work.
Especially real estate industry where most property developers are much more conservative and hesitate to explore new ways. It could be they have had the best in the good old days.
However, technological advances, growing acceptance on digital currencies, and the covid situation have all combined to force them to do rethink. In fact, reality has forced them to consider the alternative route.
Hence LABS will still have business development executives to go around to explain and guide them to adopt this better way of raising funds. So that this become a win win for all, including the retail investors like you and me.
Q3: With Labs the investors can invest in fractionated Real State products so you are eliminating the high minimum investment. What are the legalities behind these "fractional" investments? Are state regulations a problem in some countries?
ANS: LABS is approved by the government to offer our digitized real estate shares or tokens to the retail investors.
That means we also need to be fully compliant to the regulations. Such as, we need to do proper kyc for our clients, and due diligence checks on the project owners.
LABS however can't take investments from USA retail investors due to SEC ultra strict regulations and long arm policy and enforcement.
Q4: We know how important partnerships are for the strengthening of crypto projects, but I could not see information about your partnerships on your website. Do you plan to make new partnerships that will support the labsgroupio ecosystem in the coming period?
ANS: Yes of coz.
We are working with one of the largest defi lending platform on am collateralized real estate tokens staking and lending, so that our retail investors can obtain leveraging like traditional ones, except it is much better success it can happen in seconds.
That is, no need to wait at banks and fill in papers and then wait for them to be approved.
We have also formed partnerships with several property developers, and I'm honored to announce here that we have one with a NYSE listco, which owns more than 1bn worth of property.
Q5: Can you please explain further what you mean by we can invest as low as $100? I have checked around and really cannot see how a $100 can get me into real estate. How possible is this?
ANS: Well, we do it this way:
Transfer the property asset into a investment company, e.g. SPV.
Have the title held in a trust or custody.
Tokenise the shares of that holding company.
Then retail investors can buy on any amount they want just like btc. However due to admin and business costs, we decided to set a minimum of 100 USD, which we believe everyone can afford.
Q6: 🍀Do you have any plans for other assets digital assets like GOLD or FIAT so Labs may aim REAL ESTATE investment? https://mobile.twitter.com/Gb_asdfg/status/1365538935993229312
ANS: LABS only want to focus on real estate.
It is the largest asset class which is worth 228 trillion USD.
It has real pain points which is ripe for disruption. Illiquid, high barrier to entry, high transactional costs, and difficult for cross border investment or involvement.
Q7: Please tell us how is your Tokenomics Distribution? How many tokens will be printed? how many tokens will the team lock? https://twitter.com/Pradana37433809/status/1365650974988066819?s=19
ANS: Pleas kindly visit our website labgroup.io and you can readily find this info.
For example, on our whitepaper.
Yes LABS has a very successful private round.
Next we want everyone to help us spread the words on our project so that everyone can get involved in changing this industry and encourage financial inclusion.
Just think of how many people don't even have a bank account to do such investment. But now with a digital wallet and internet connection, you are no longer excluded from this asset class which is proven and yet reserved for the privileged ones.
Together, we can change the way people invest in real estate and make real estate for everyone. Including you and me.
Thanks, I wish to end this interesting AMA.with a final recap on LABS highlights:
KEY SELLING POINTS:
LABS key highlights:
1. Real estate is the largest asset class (>228tn USD) and the way people invest in it can be disrupted.
Digitised Property on blockchain offered to global investors thru crowdfunding and digital exchange is the answer.
2. LABS ecosystem solves all real estate investment pain points:
... High barrier of entry
... High transactional and exit costs
Fractionalising real estate investment
Global Crowdfunding utilising digital currencies
Transactions and distributions on blockchain
Exchange offering and trading
3. LABS revolutionary and wholistic business model is an ecosystem comprising 3 different layers focusing solely on real estate:
...advisory and management
... Issuance and crowdfunding platform
... licensed digital security exchange
4. LABS augmented its ecosystem by incorporating DeFi solutions, including staking pool, Dex and lending platform.
LABS crowdfunding platform is built on Polkadot with their support.
5. LABS has traction and project pipelines:
... Advisory and management deals done
... Issuance and crowdfunding platform fully ready
... Digital security exchange license obtained and in UX/UI testing and finalisation stage.
... LABS already have projects officially agreed to be launched
6. LABS has great token design, economics and usage, and address to both markets looking for short and long term rewards:
...Staking (for rewards)
7. LABS has strong international strategic partnerships in both blockchain and property sectors:
8. LABS has a strong team with knowledge, ability, credentials and network in real estate, blockchain, finance and legal to make this project works.
9. LABS is strategically located for this project：
Hong Kong is property crazed and a place where most property groups are headquartered here.
It is hintered by a newly rich China where many investors look to invest in overseas properties to diversify their risks and returns.
10. The timing is perfect:
... Adoption of Crypto currencies (even by institutions)
... Advent of CBDC/DCEP (aka digital RMB) raised awareness and acceptance
... Covid further expedites digital revolution as well as making property owners more willing to explore other ways.
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