Rentible (RNB) - BancorDAO Whitelist Proposal
This proposal is expected to appear on Snapshot for voting on Monday 14th June 2021
TL;DR
- Proposal to whitelist Rentible (RNB)
- Proposed co-investment is 100,000 BNT
- Security audit by TechRate
- Code updates on GitHub, doxxed team, growing supportive community, no reason to doubt the legitimacy of the project
- Solid fundamentals, long term goals, real-life use-cases with mass adoption appeal, can clearly benefit Bancor’s community
Token Address: 0x2a039b1d9bbdccbb91be28691b730ca893e5e743
Project Website: https://rentible.io/
Token Security
- Rentible token supply is fixed at 3,500,000 RNBs, 1,925,000 RNBs were listed on Uniswap as well as 15 ETH
- No minting or burning functions
- Liquidity locked: here
- Smart contract audit: here
- Vesting details: here
Project
Rentible introduces a decentralized-PropTech platform, enabling tenants and landlords to conveniently send and receive rental payments in different cryptocurrencies, while streamlining market verticals and remedying problems of fraud and data ownership manipulation.
PropTech (Property Technology) is an approach using IT to digitize the real-estate sector and make renting, buying, selling, and managing properties - whether residential or commercial, easier.
The overlapping between Blockchain and PropTech utilizes the characteristics of Blockchain Technology to solve security and privacy gaps existing in PropTech, streamline processes, and add a layer of direct transactions.
Rentible tackles pain points across the mid-to-long term online property rentals market, with a focus on deposit fraud and privacy theft, deposits withholding, limited liquidity and non accessibility to “non-savvy” participants in handling crypto-to-crypto and crypto-to-Fiat payments between landlords and tenants. The project seeks to fuse innovative characteristics of blockchain technology with PropTech through an intuitive mass-adoption oriented platform.
Rentible serves a clear purpose now and in the future as a first-mover in a massive yet untapped segment of the market.
Examples for problems that Rentible seeks to remedy:
| Problem & Real life example | Solution |
|---|---|
| Fraudulent deposit & let-and-run schemes | Online scammers using fake/stolen ID’s to extract downpayment deposits (i.e - a student from Spain moving to London and sending in advance hundreds of GBP as downpayment for a property that doesn’t exist). More than £918 million lost due to similar online property rental fraud in the UK alone over a year |
| Accessibility & Gateway | “less-savvy” homeowners don’t know how to open a wallet such as MetaMask, yet had they received their rent in BTC in 2020, their yield would have quadrupled (if not more) in 2021. As an intuitive platform, Rentible will serve as a gateway not only for crypto enthusiasts, but also to newcomers into the cryptosphere whom are looking for an intuitive way to send/receive rent-related payments in cryptocurrency but don’t know where to start |
| Liquidity | It is common that a person gets stuck without being able to pay rent for a week or doesn’t have available funds to put down a deposit on a flat, while on the other hand - the person can’t get an immediate loan or prefers not to sell their crypto as they expect it will appreciate. Rentible’s community pool will enable participants and token holders to put ETH for example as collateral in order to draw a short term bridge loan to gap this situation |
| Deposit withholding | Many times landlords / agencies withhold deposits from tenants upon expiry of the agreement, often unjustifiably, and as the tenant returns to their countries (i.e. in the case of an International student), they can’t mitigate this from afar. This can be solved by automated release of deposits combined with community arbitration in case of dispute between landlord/tenant |
| Multisig contract processing | When signing a rental agreement between several parties hosted in different regions (I.e., a homeshare with several rooms), there’s a period in which one of the parties is delayed in signing the contract leaving the other parties exposed to unexpected changes in the agreement. Automating disbursement and recording of rental-related payments (mainly for good order and trackability) |
| High fees | Lowering costs via disintermediation and decreasing dependency on renal agencies, allowing tighter more controlled screening process for landlords |
Tokenomics
Rentible’s native utility token (RNB) is required to gain beneficial access to the platform’s functions as well as participate in the ecosystem’s network and services. Platform’s services benefited through the usage of RNB include: discounts on uploading property listings, highlighting features, calling for execution smart contracts such as deposit payments and rental agreements, verification of title deeds, discounts across 3rd party service partnerships, privileges for accessing community liquidity pool, governance, participation in arbitration protocol, and access to accelerated staking program for an initial period of 12 months. In addition, 525,000 will be moved from transaction fees to the vault and subjected to the community’s governance.
Community and Communication
Rentible is active on Telegram (1170 members), Twitter (1610 followers), Medium, and Reddit. YouTube channel will include discussion panels and platform versions reviews as developments and mockups rollout to the public. As part of its expansion into new audiences, translations of material to Chinese already started and community building in WeChat and Weibo via local community representatives will follow. The technical community can review the work on GitHub, where development activities are available open-source. RNB token has 800 holders. Team is fully presented on the website, AMA’s are being held weekly and the community can directly reach the team via social networks and provided email addresses.
Market and Trading Data
- Token launch date: 1 May 2021
- Launch price: $0.023
- All-time high $5.53 (4 May)
- All-time low: $0.023
- Price at the time of wiring is $0.61
- Total Supply: 3,500,000
- Circulating supply: 1,713,000
- Diluted market cap is $2,157,198
- RNB is available on Uniswap (516,127 pooled RNB)
Benefits for Bancor:
Single-Sided Liquidity will be a catalyst in driving new and existing members to move their staking to Bancor from Uniswap, as well as increased exposure via marketing efforts on the project’s channels to promote the whitelisting. As the Rentible project has a clear mainstream usability and a long term technological roadmap, trading volume is projected to increase in tandem with the platform’s growth and expansion into new locations.
Voter Incentives:
Current RNB token holders benefit from a very generous staking program as details here for early adopters on Uniswap as well as accessibility to raffles, which can be extended to Bacnor voters and contributors to the pool.
