Blocksquare-Tokeniza Property Tokens (BSPT-TOKs) are a standard Ethereum ERC-20 smart contract with a defined maximum issuance of 100,000 tokens per real estate property, where 1,000 tokens can be issued for every 1% of an asset’s capital stack.
Each asset has its own BSPT-TOK, meaning that the token symbol varies from property to property, i.e. BSPT-TOK-##. The token standard includes property valuation on the chain, creating legally binding and enforceable tokens via a standardized corporate resolution stored in IPFS.
Characteristics of the token contract:
-the asset’s capital stack information
-the location of the asset’s street
-the geographical coordinates of the asset
-real estate valuation
-the token valuation of the property – the type of property (i.e. residential, office, leisure…)
-the land registry data (i.e. cadastral municipality, plot number, identification number, part of the building…).
Blocksquare’s Property Factory smart contract is the leading smart contract for generating a “PropTokenContract” – an ERC-20 backward-compatible token standard developed by Blocksquare designed to tokenize a specific real estate property and the revenue it generates.
The protocol features a standardized token symbol BSPT-TOK-###, where BSPT stands for BlockSquare Property Token, TOK is a unique alphanumeric symbol defined for the Certified Partner “Tokenize”, and ### is an automatically incrementing number.
Each PropToken contract is registered in the Blocksquare and Tookeniza Property Registry-a smart contract where the “identifying data” of all real estate properties is publicly available.
The “maximum amount” of tokens that can be issued is 100,000, where 100,000 tokens represent a predefined percentage of dividends from any and all net income, including income generated from a sale of the property to a third party. The royalty percentage is stored and sealed in the PropToken contract.
