Binaryx Monthly Update May 2023: Second Property on Sale, Binaryx Wallet, Token Value Growing

It’s been two months since Binaryx Marketplace was launched on the Polygon blockchain and successfully sold the first tokenized penthouse in Bali. While the property is already bringing rental income to 199 investors, we’re selling the second one – and releasing new features that make real estate investing easier.     

The second tokenized penthouse is on sale 

We tokenized the second gorgeous property in the PARQ Ubud residential complex in Bali and put it on sale on Binaryx Marketplace. Everyone who buys at least one token of this penthouse worth $50 will become its landlord and earn a passive income of 22% APY.  

Take a look at the property: 

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33% of this $175,000 penthouse has already been sold. When it’s sold out completely, its ownership will be transferred to those who purchased the tokens. A tenant will enter the apartment, and the rent that they pay will be put on the smart contract and distributed to token owners. 

Read the interview of the tenant who lives in the first property tokenized by Binaryx Platform. Here’s a spoiler: he loves it! 

Property tokens were reevaluated for the first time

Binaryx Platform offers an APY of up to 22%: 12% of this sum comes from rent, and 10% – from projected property appreciation. The real estate market in Bali is on the rise and we expect the properties to increase their value by 10% year-to-year.

In practice, this means that the price of the real estate tokens that you buy on Binaryx Marketplace will gradually grow. In May, our team changed the token price of the first property for the first time: by 0.8%, from $50 to $50.4, based on market monitoring. The total property value increased from $170,250 to $171,612. 

This is just the beginning and such reevaluations will be made a few times per year. 

Binaryx internal wallet: No MetaMask is needed 

We aim to make our product easy to use for everyone, including the audience that is unfamiliar with crypto. That’s why we implemented Binaryx Wallet: it is created automatically for those who sign up to Binaryx Platform via email.   

MetaMask which is usually used by web3 enthusiasts may become an obstacle to real estate investing when it comes to non-crypto audiences. That’s why we built the Binaryx Wallet so everyone can use our platform without the hassle of installing MetaMask. Our wallet is non-custodial, so investors are in full control of their tokens.  

Selling your tokens is now possible 

We’ve implemented the selling feature: now, investors can not only buy real estate tokens on Binaryx Marketplace but also sell them to other users. Thus we’ve made the tokens liquid and enabled the possibility of their free exchange. 

This is the first iteration of the secondary market on Binaryx Marketplace. It is realized through email-based buying and selling waitlists, but we are working on a full-fledged secondary market where the token exchange will be executed in seconds. 

We’re running the Web3 Landlord Quest 

We launched a new community quest with a prize pool of 300,000 USDT to encourage our users to test our platform and invest in real estate. Over 10K participants are already completing tasks and collecting their USDT vouchers that can be used to buy real estate tokens on Binaryx for less.

The first 500 participants who complete the Quest get one $50 property token for free. And everyone who completes the program will receive a unique Early Adopter NFT that gives you the right for the BNRX airdrop, USDT bonuses for future sales, early access to our new sales and features, and priority right to sell tokens on the secondary market. The Quest will run until July 17: join it now!

Binaryx Ambassador Program

Binaryx Ambassador Program is now live. Content creators, bloggers, and designers with a passion for our product are welcome to join this program, spread the word about Binaryx Platform, and earn multiple rewards: from enhanced referral bonuses to the possibility to join our team. 

If you want to craft articles, host Binaryx community events, design infographics, or educate your community on social media – apply for the program. On a private call with you, we will create your personal plan and calculate your future rewards. 

We’re hiring 

We’re expanding the team and have a few open positions at the moment. Let us know if you’d like to apply or know someone who could! 

Those were the main updates for May. Thank you and we wish you a productive month!

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