Name of Project: fRENT
Application type: Investment
fRENT is a platform where users will rent apartments ( owners and those who need an apartment to rent ) like Airbnb but the difference is that it will be internationally immune to inflation because all settlements will be done using $fRENT which is tokenized rental time - ultimate currency.
So, for the blockchain community, it will not matter from now on what is the price for rent in any part of the world as long as you have $fRENT and someone from the country you are looking for is listing his apartments for rent on fRENT platform because fRENT is rental time unit that is exchanged for staying in the selected apartment. At this time $fRENT was created and has its Gem mine on tokenjenny.one where collected fees are to be used for fRENT platform development.
The outcome I plan to have is a platform built on Harmony where apartment owners will list for renting their apartments and users will be able to rent those apartments in exchange for tokenized rental time $fRENT.
At this time $fRENT has 25 Gem miners and 42 holders as per Harmony Explorer data. Talking about the number of listed apartments around the world I aim for no less than Airbnb - 6 million apartments listed and no less than 150 million users, taking into account that Harmony is a cross-chain application and the number of crypto users grows rapidly being now ar approximately 200 million users.
The main strategy of acquiring users is partnerships/integrations with the same existing Airbnb and similar services around the world, to exclude rivalry and create cooperative and harmonious growth for all projects, extending rental opportunities for crypto space, saving people from inflationary effects on rental prices around the world, and currency exchange affiliated losses.
The help I need is in creating the platform itself based on Harmony smart contract and further integrations when partnerships will be agreed upon.
I see from this point now that to get the platform up and running I will need 70 thousand USD ( LLC registration in Ukraine under Virtual Assets law conditions, devs hiring, partnership building expanses covering)
Metrics for success
- Devs hired and start building the platform
- LLC registration done
- Partnership building process planed and started
- Medium article fRENT — Real rent for crypto. Dear friends, As we said before… | by Grozav Dumitru | Jul, 2021 | Medium
- $fRENT Gem mine: TokenJenny.ONE
@FRATE please review the Guidelines for the Ecosystem Fund and restructure your ask.
Amongst other things, the metrics of success should be driven by utility and not setting up teams, process or entities.
I’m voting no because based on his pages info he has multiple Jenn mines for XYA, KURO, JENN and more that he uses to dump for ONE and then buys his own token artificially increasing the price. Why do you need to dump other tokens for yours, not only is that a terrible thing to do but it also impedes the growth of other projects. Also why does your product need Blockchain technology? Answer it simply doesn’t.
Hi @Lamb and thank you for your feedback and vote
I will try to explain the concept of $FRATE ( the one that owns several gem mines) and $fRENT because your vote tells me that I didn’t explain it properly and the way a Gem mine works on TokenJenny.one also is not known well enough.
$FRATE is the governance token and acts like your share in the income that is generated through Gem mines and any other activity that will be announced. So basically anyone owning can sell it anytime and get his share of the accumulated income - this is the base of the “Be your own bank” concept of Frateria.
$fRENT is the first real-world utility token of Frateria and you can have it only through a Gem mine on TokenJenny.one ( the link is in my post), as a $FRATE holder when airdrops or buy it on ViperSwap.
Because we understand that Gem mining is a business for many people we are absolutely ok with the fact that our $fRENT coin is sold by miners on ViperSwap - that is normal. They paid a non-refundable fee of 550 JENN which is supporting $fRENT and now all they get from the mine is their profit. This was the deal. They became timeshare miners and have all the rights to sell their timeshares.
Same in regards to those mines where $FRATE holders have paid a non-refundable fee which actually was received and helped the founders of XYA, KURO, JENN.
We practice a very cooperative and win-win operation for our partners sir ( all people that buy a $fRENT Gem mine on TokenJenny.one is partners for us same as we see yourself as partners for those projects where we purchased a Gem mine, paying a non-refundable fee).
The answer to the question of why $fRENT has to be on Blockchain is simple: smart contracts, no middleman, and accessibility for many.
Hope this reply will help to see the positive impact of $fRENT
So from what i understand, aside from having only made a token on Token Jenny, applied for gem mines, dump other projects tokens, there is absolutely ZERO development. You have no devs currently, there is very very very little liquidity and volume. Why cant you apply for a simple bank loan instead? Also say i do rent an apartment, if harmony block time in 4 seconds instead of 2 does that mean i get double the rental time? Since it would be under smart contract i assume that makes sense. Otherwise if i am to simply send you tokens for the rental then you are the middle man in that case.
Hi @Lamb and thank you for your reply.
Development in your opinion is the code of the components of the entire platform from what I read in your reply, and here I need to stress that $fRENT Gem mine, the $fRENT token itself are those components that you see as development and I got them from a 3-rd party IT service provider ( i mean TokenJenny Team) - for my projects, the most efficient way is to use 3-rd party IT service providers and not to maintain a permanent IT team ( this is a common practice by the way ).
But also I need the smart contracts for managing the payments based on $fRENT ( rental time ) and this is the reason why I am applying here - to get that incubator type help as it is stated in this program conditions .
Like any reasonable entrepreneur, I look for the most efficient funding for my project and I believe that is why Harmony started this funding - to find entrepreneurs that have the courage to step up and change the paradigm.
And $fRENT is changing the paradigm for timesharing.
Besides the technical part, there is the most important one for me - community. And $fRENT has already 27 miners. He is generating already real income for people and actually please, you are welcome to join. Also, there are 45 holders - and it will continue growing.
Talking about liquidity is fine for a beginning and a token you can get it only through a fair distribution:
Getting to the block timing - agree with you, the question of block’s length stability is important and most probably will be an important challenge to be solved when $fRENT smart contracts will be created.
About dumping for sure is not about me - the regular farmer takes the rewards and the held amount of tokens. As result the project supported by a regular farmer gets nothing from him, actually just gives away all the time.
I pay a NON-REFUNDABLE fee what means i never claim this money back and this is fair towards the project I support buying a mining account - they get from me the NON-REFUNDABLE fee.
I trust you can see now that this is the fairest deal for token distribution and is a win-win deal for the project and supporters.
I hope I answered your questions and really appreciate your critical position - it helps explaining better the most complicated sides of my projects
@FRATE we have received enough signals to indicate that we won’t move forward with this initiative.
Fundamentals need revisiting. There’s complexity around mixing real world contracts with blockchain smart contracts. The bridged solutions from physical to the digital world is a high barrier to solve. If there’s an off-the-shelf solution you can use, with government or strong local community enforcements, then it might work. There are also questions around tokenomics and whether this is an actual problem to solve, a rent-by-the-minute (or seconds). I don’t think we need this level of granularity today, though in the distant future we could see this happen and disrupt the rental ecosystem as the real world and blockchain world moves at much different speeds.
Please visit the FAQ - Harmony Funding FAQ for more details on the next steps