Propy
Crypto Overview
Overview
Propy is a blockchain-based real estate transaction platform launched in 2017 that aims to automate real estate transactions through smart contracts. The PRO token is used for governance, payment of transaction fees, and accessing premium features within the Propy ecosystem.
Intended Utility
The PRO token is designed to facilitate real estate transactions, property transfers, and title deed registrations on the blockchain. It serves as the native currency for paying platform fees and accessing various services within the Propy ecosystem.
Actual Utility
Propy has demonstrated real-world adoption with several notable property transactions executed through their platform. In 2022, they facilitated the first NFT-based home sale in the United States. The platform continues to develop partnerships with real estate agencies and has integrated with multiple blockchain networks to enhance functionality.
Platform Development
There is consistent development activity on the platform, with regular updates to their smart contracts and user interface. The team maintains active GitHub repositories and regularly releases new features.
Token Distribution
The total supply of PRO tokens is 100 million. According to available data, approximately 25% was allocated to the founding team and advisors with a vesting schedule, 15% for platform development, and 60% distributed through token sales and to the community.
Revenue Model
The platform generates revenue through transaction fees paid in PRO tokens for real estate deals executed on the platform. These fees are transparent and based on actual service provision, not interest-based mechanisms.
Crypto Impact
To assign a comfort level investing in Propy from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to Propy.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.