Astrix Finance AMA Transcript

Tokenized real estate platform built on Solana

By
Solana News
on
June 2, 2021
Category:
AMA

Andrew:Hey Maddox you here?


Maddox:

Hi Andrew - yep I'm here


Andrew:

Awesome welcome, it isgreat to have you here


Looking forward tolearning more about your project


Maddox:

Thanks, great to be here!


Andrew:

Wonderful, so let's start


1. So as a project thatis focused on Real Estate, can you explain more about yourbackground, how you came to start this project and the team yousurround yourself with to accomplish everything you have so far?


Sure, my career backgroundis in finance, having most recently worked in real estate privateequity. The idea for this project stemmed from the lack of realestate options I saw for retail investors. I was working on exciting,high returning projects in private equity which weren't available tothe average investor. As someone who loves investing, it frustratedme that good options for real estate investing weren't widelyavailable. I co-founded Astrix with a friend of mine who is asoftware engineer who also has experience building out blockchainprojects. He is the brains behind the tech and I'm the one with thereal estate experience. Our goal is to help retail investors getaccess to real estate investing opportunities that they don'tcurrently have; while also providing a fundraising platform for localdevelopers and operators.


Andrew:

wow really interesting, soyou saw a need for real estate options so you and your co-founderapplied your skills to put this project to life


Andrew:

This kind of leads into mynext question of:


2. How does yourproject allow the average Joe the ability to invest in private realestate projects that may not be easily accessible with Fiat?


Maddox:

Current platforms do allowthe average Joe to invest in private real estate projects; however,they are typically in a fund structure which has long lock-up periodsand penalties for withdrawal. Also, you are not typically able tochoose which project you invest in (they are pooled investments invarious projects). Lastly, current options do not focus on value-addand opportunistic types of deals, which Astrix has put a strongemphasis on. In terms of fiat vs. crypto - crypto and blockchaintechnology allows us to utilize smart contracts and provide liquidityin a novel way that hasn't been done before. Smart contracts allow usto run more efficiently (lower cost) and our liquidity solution isnew and unprecedented in the industry.


Andrew:

So with Astrix Financeusers will have no lock up periods and even have the option to choosewhich project to invest in?


Maddox:

That's right!


Andrew:

Amazing, blockchaintechnology really is game changing


3. As a platform thathas direct implications into the real world of real estate, how areyou doing in your forming of partnerships with real estateoperators/developers? Are any a little hesitant about doing businesswith a DeFi platform?


Maddox:

While some are hesitant,most are less hesitant than I expected and are interested in gettinginvolved. A lot of the world seems to be coming more open-minded tocrypto and some firms are very excited about the opportunity. We havea couple of partnerships which may be coming to fruition, but nothingofficial announced yet.


Andrew:

Wow how exciting, cryptois becoming more and more accepted by all sectors of business


Do you know when you mightannounce those partnerships?


Maddox:

We are looking to give asneak preview soon :)


Andrew:

Okay awesome so be on thelookout for that everyone!


4. Why did you chooseSolana as the blockchain to launch your project? How do you feel asthough you are contributing not only to Solana but as DeFi as a wholewith your project?


Maddox:

We chose Solana because webelieve it is a revolutionary blockchain which will gain market shareover the years. There is a lot of momentum with Solana and we wantedto build on something we believed in / would be around for a longtime.


Andrew:

Yeah definitely, I thinkthat building projects on Solana now are going to be so advantageouswhen looking back 5-10 years from now


5. Can you tell me moreabout your $ASTXtoken? What uses does it have for users?


Maddox:

We are planning for the$ASTXtoken to be able to be staked as well as its liquidity to be stakedvia a ASTX-USDC pair. Additionally, users who stake liquidity forreal estate projects will be able to earn ASTX tokens. Eventually, wewill role out a governance system allowing tokenholders to vote onimportant company decisions such as taking on new real estatepartners to join the platform, or changes to tokenomics.


Andrew:

Oh wow okay so you couldsay that $ASTXis essential to your operation?


Maddox:

I would say so. We'd liketo make it an important part of our project. I also forgot to mentionthat funding fees that we generate from our real estate partners willgo towards funding staking emissions and will also go towards $ASTXtoken burns


Andrew:

Okay I see so there iseven a burn that will be initiated !


6. Say I want to investinto a real estate property, how would I go about this? Would it bethrough liquidity pools, $ASTXstaking, NFTs?


Maddox:

All of our investmentswill be via USDC. We do not believe any crypto is stable enough yetto serve as a means of investing and thus all investments anddistributions will be in USDC. Investors will be able to contributeUSDC to a project of their choice on our platform and will receiveUSDC in the form of dividends from cash flowing assets as well asupon sale once the project is complete.


Andrew:

Do you think that yourplatform will require investors to do a lot of research beforeinvesting or would it be kind of a "hm let's see what this isabout" and pick a project?


Maddox:

We will audit each projectbefore they are posted, so investors are protected in that sense;however, every investor should definitely spend time familiarizingthemselves with each project they invest in. We will require our realestate partners to post comprehensive decks showcasing the deal andbusiness plan etc.


Andrew:

Yes definitely. DYOR anddon't yell at Maddox haha


Maddox:

^ you heard the man


Andrew:

7. How would revenueand profits be distributed amongst investors?


Maddox:

Via USDC based on thenumber of project tokens an investor holds. Dividends will bedistributed monthly based on the cash flow the property generates.Profits from the sale will also be distributed upon completion / saleof the project. All dividends and profits will be distributedpro-rata to investors based on tokens (equity) held in the project.


Andrew:

Okay understood.


8. I see that towardsthe end of 2021 you plan on adding real estate debt fundraising. Canyou explain more about what this is?


Maddox:

Our platform willinitially focus on equity crowdfunding for projects, meaninginvestors receive equity in the project which is higher returning innature but also has its risks. Generally, most real estate projectsare funded with some mix of equity and debt, where debtholders have ahigher claim on the property if something were to go wrong. Becauseof this, returns from debt holders are also not as high - typically afixed rate based on where interest rates are. However, debtfundraising is a huge part of real estate investing and it is amarket we are looking to capture. We plan on having a separatesection on our app which allows for debt fundraising projects.


Andrew:

Okay so for someone likeme who is not experienced in real estate... your project is removingthe role of the debtholder and implementing that into a differentsection as to allow investors to focus on purely equity?


Maddox:

We expect that ourpartners will raise debt from banks or other traditional lenders -debt is generally a lot easier to raise than equity. So we initiallyaim to provide equity fundraising for our partners. Then, once theplatform is established, we will open it up to debt fundraising aswell.


Andrew:

Gotcha gotcha


9. Where do you seethis project 5-10 years from now? Can you see a world where yourproject is available to the mass public so that maybe people who maynot know much about DeFi are looking to invest through your platform?


Maddox:

Absolutely. The goal is tomake real estate investing as accessible as possible to the public.We hope the platform is seamless to use and that experience in crypto/ DeFi is not a hurdle. We will however continue to always cautionthe risks of investing as people should understand the product theyare investing in. Luckily, our liquidity solution will make it a bitless daunting and will provide an exit solution in the event someoneinvests in something they decide they don't want anymore.


Andrew:

Of course, glad to see aproject that is looking to bridge this gap between those who may behesitant about defi and even making real estate accessible for thosein defi


So last question fromme...


10. When do you plan onlaunching the app? And any new exciting developments you want toshare?


Maddox:

We plan on launchingsometime in Q3 2021. As far as new developments - we are growing ourteam and are in the process of onboarding additional members to helpwith legal, marketing, and software developments


We are extremely excitedand think these 3 additions will help us grow and develop ourplatform. They all bring something unique to the table and havestrong backgrounds


Andrew:

Yeah that is exciting,maybe we can speak again in the near future and see how much theproject has grown !


So now we will go to theaudience questions that were picked from twitter


Maddox:

That'd be great


Andrew:

These two questions willbe the giveaway winners as well .


@CryptoMate20:

While you build yourproject, do you take into account community feedback anddemands?While you build your project, do you take into accountcommunity feedback and demands?


Maddox:

Yes, we absolutely plan onlistening to our community and taking their feedback. We will belaunching an MVP of our platform before the full release and willgather as much feedback as possible from our user base to helpperfect the product.


Andrew:

Okay and for the lastquestion...


@MaysaQorry:

about the futureplanning structure of the astrix project? governance ? anyone whosupports the astrix project? is there ido and presale?


Maddox:

Governance will come intoplay later in the year once we are more established. Regarding IDOand pre-sale, a lot of discussions are in the works and we have notdecided on a path forward yet - there are many pros and cons to weighas we have received inbound from some investors who could be veryhelpful in our growth, but we also care about the community and wantthe token to be fairly priced / equally accessible to everyone. If wedo a seed round or presale, it likely won't be large as our focus ison the community. We plan on deciding shortly and will keep you allin the loop.


Andrew:

Wonderful !


Thank you for joining ustoday Maddox. Is there anything you want to say before we open theroom?


Maddox:

Sure, shamelesspromotion... check out our socials :)

website:

twitter:

discord:


Andrew:

hahaha sounds good


Maddox:

and thank you all so muchfor listening in!


i will stick around in theroom for a bit to answer any questions if you have, or just hang out


Andrew:

Well congratulations oneverything you and your team have accomplished so far and we arelooking forward to seeing your project's development. 😁


And of course a big thankyou to our audience !


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