Emirex arranged an AMA session with Aqarchain where Waqas Nakhwa, the founder, answered the burning questions of the Emirex team and community! We were surprised with over 300 questions in under 1 minute. If you missed the AMA, here's a recap of all the questions that were answered. Waqas answered the most important questions from the Emirex team to share the most crucial information about the Aqarchain project.
Emirex Questions to Aqarchain CEO Waqas Nakhwa
Emirex: Welcome, @Waqas_Nakhwa! I hope this AMA session will be constructive and our community will be able to learn more about the Aqarchain project!👍
Waqas Nakhwa: Hello All, My name is Waqas Nakhwa and I am the founder of Aqarchain. We have an experienced team of individuals from the industry and expert advisors on the panel.
Emirex: Here we go, the first one: can you briefly describe Aqarchain?
Waqas Nakhwa: Aqarchain is digitizing the Real Estate industry with an end-to-end platform that enables a seamless online experience for the users. Aqarchain brings a state-of-the-art Investment platform for Real Estate investors with a decentralized tokenized infrastructure. Aqarchain will be the world’s first decentralized real estate marketplace. Aqarchain is a blockchain-powered real estate investing platform whose aim is to create a decentralized ecosystem where investment in real estate is as easy as investing in shares on the stock market. This aim is achieved by fractionalizing real estate properties.
Emirex: The next question is: how did you come up with merging real estate with blockchain?
Waqas Nakhwa: A fusion of technology and various industries today becomes a perfect marriage for advancement and growth. The blockchain technology and real estate industry describe a possibility of this fusion. Three main reasons for merging Real Estate and Blockchain are:
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We are a tech company and focus on emerging technologies like Blockchain. Our partners and Investors are a traditional group of Real estate investors.
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Blockchain technology made full sense and there is a need especially after the pandemic for tokenization.
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NFT, the biggest boom in blockchain space is a perfect use case for the real estate industry.
NFT is proof of ownership for the digital asset and it has become a very demanding technology solution, the biggest boom in blockchain space is a perfect use case for the real estate industry
Emirex: Agreed, the current NFT hype has brought a lot of attention from traditional investors to the cryptocurrency and blockchain industry. Okay, let’s move to the 3rd question. What kind of advantages will investors get from the AQR token?
Waqas Nakhwa: AQR token holders can stake on the platform to earn more AQR tokens in rewards. With the AQR token, you can participate in the governance voting. With AQR tokens, users will get an additional discount on purchasing fractional tokens. AQR tokens can be used to pay rent on the property. Users can earn dividends in AQR tokens. The more you hold and stake, the more you can earn and use on the platform.
Emirex: Perfect! Hey, Emirex Community! You can join the Aqarchain IEO on our platform.
AQR/USDT - https://emirex.com/investments/ieo/23
AQR/AED - https://emirex.com/investments/ieo/22
Wow! According to this list, it is very profitable to own an AQR token. The 4th question from the Emirex team is: will Aquarchain be a global platform, or is it focused on a specific country?
Waqas Nakhwa: Yes, Aqarchain is a global platform, currently, we will start with properties in Dubai for global investors to buy-in. But we will expand to Europe and South Asia as well to provide further more investment deals.
How do you divide property, and what determines the value of each fraction?
Waqas Nakhwa: An NFT is created for each property and metadata of NFT contains the property information like title deed, location, area, amenities, etc. The NFT is further fractionalized. Now how it is fractionalized in the area of the property determines the number of fractional tokens of the NFT, the area in sq mt or sq ft an accredited valuation of the property is done.
The properties listed on the platform are verified by the Aqarchain team and undergo a process of selection before being finally listed and ready for sale. The property documents are verified and a proper valuation through a registered valuer is conducted to determine the right value of the property.
Property Valuation ÷ Property Area in Sq. Meters|cm = Per Share Value
Emirex: Community, you can find more information in Aqarchain White Paper - https://Aqarchain.oss-me-east-1.aliyuncs.com/white-paper/White-Paper-English.pdf
Okay, and the final one before community questions. How are profits distributed on Aqarchain? How do the team and users gain from creating this project?
Waqas Nakhwa:
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Crowdfunding Commission - From the funds raised on selling fractional tokens, 2% - 5% is the platform commission.
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Rental Income - 10% of the rental income is held as property management fees and 90% divided among all fractional token holders.
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Secondary Trade - 5% of Capital gains is Platform fees charged only when secondary trade happens.
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Advertising Fees - Property developers can do project launches, or advertise on the platform by paying a fee.
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All sources of revenue are paid in AQR tokens and in case it is a deduction at source then AQR is bought from the open market and added to Treasury
Emirex: Thanks for your answers, Waqas! Let’s move on to the community questions! Pick up the most interesting questions and answer them to share more detailed information about your project. Let’s go, guys!
Community Questions
Community: Your project name seems to be very interesting. Does it have any story behind it? Can you share with us the inspiration for approaching this name?
Waqas Nakhwa: Yes very much, from our personal experience, I found it was very difficult to invest in cross-border properties and access to deals that are only available for institutional investors. So this was the main reason to start Aqarchain as this platform now allows anyone across the world to invest in properties in even the most luxury properties.
Community: I want to support your project. Tell us more about the Ambassador Program and in what ways can we participate?
Waqas Nakhwa: Very soon after the TGE, we will be starting with the ambassador program. Please, follow our announcement channel and you will be updated about the future programs.
Community: Why did you choose the BEP20 network to build a project like this? Are you ready to face the current problems of the BEP20 network, token price drop, bugs, and other bugs, give feedback to yours?
Waqas Nakhwa: So, we have not chosen the BEP20 network. We are Independent of the chain. We create NFT, first, we will create NFT on Polygon, then on Tezos, and going forward on other chains also.
Community: Can you share with us your tokenomics? How much is the total and circulation supply of your tokens? Will there be a buyback system or token burning in the future?
Waqas Nakhwa: You can view total tokenomics on the website and yes there is a deflationary burn mechanism that is mentioned in the whitepaper. Please visit Aqarchain.io and download the latest whitepaper.
Community: Where can I get the latest updates or more information about the project?
Waqas Nakhwa: Please join our announcement channel on Telegram and Twitter, we post updates regularly there. And please feel free to ask questions anytime.
Community: Do the token holders have the right to participate in the governance of the project? What kind of decisions can they vote on about the project?
Waqas Nakhwa: Yes, the token holders can take part in the governance voting of the platform. Like which chain NFT to mint, which exchanges to list, which property to list, and so on. Staking for voting and earning rewards in AQR.
Community: If the user invests in some property, he will get an NFT of this property and have a right to receive dividends. What is the process of dividends distribution?
Waqas Nakhwa: Yes the NFT is fractionalized and dividends are given based on your share of the property in the form of AQR tokens.
Community: It is mentioned in your Whitepaper that the Aqar chain Platform can Fractionalize the Non-Fungible Tokens (NFTS) in a trustless and permissionless manner. Can you please explain this?
Waqas Nakhwa: An NFT is created for each property and metadata of NFT contains the property information like title deed, location, area, amenities, etc. The NFT is further fractionalized. Now how it is fractionalized in the area of the property determines the number of fractional tokens of the NFT, the area in sq mt or sq ft an accredited valuation of the property is done.
The properties listed on the platform are verified by the Aqarchain team and undergo a process of selection before being finally listed and ready for sale. The property documents are verified and a proper valuation through a registered valuer is conducted to determine the right value of the property.
Community: I'm still wondering about what sector is Aqarchain currently focusing on? Building and developing products or acquiring users, or maybe partnerships? Can you share it with us?
Waqas Nakhwa: The focus is on only acquiring properties and fractionalizing them. We have now secured close to 100 million USD worth of real estate.
How to buy your tokens/NFTs and is there gonna be pre-sales or something? And why should we buy and keep holding our tokens or keep on staking it, instead of taking profit every time? because let's be honest, people only want to make profits.
Waqas Nakhwa: You can currently buy on the Emirex exchange at a private sale price.
Community: I've just visited the Aqarchain website and found the details of the roadmap. Can you elaborate more about the concept of white label tokenization on Aqarchain as one of the Q4 2021 roadmap?
That is for developers to launch projects using our platform. We have compliance and legal experts on the board and very dedicated industry experts on the team.
Community: How do you deal with the security threats of your project? DO you have any AUDIT in recent times for trust?
Waqas Nakhwa: We have SHA256 encryption on our DB and IPFS for documents storage. We also have a dual audit on the contracts.
Community: Do you have tutorial videos so we can get to know your project more clearly or do you have a YouTube channel or something? Can you share it with us?
Waqas Nakhwa: Yes, we have tutorials and will have more videos uploaded on our YouTube channel.
Community: Excellent AMA, I wanna ask something about this, how is Aqarchain able to ensure its ability to create and sustain an adequate management control environment and compliance culture, particularly when faced with all the other issues of establishing a new business?
Waqas Nakhwa: We have compliance and legal experts on the board and very dedicated industry experts in the team.
Community: Collaboration and partnerships are some of the cornerstones to making DeFi more widespread. Can you share some of the partnerships you have formed with existing blockchain foundations recently??
Waqas Nakhwa: We were very fortunate to be incubated by TDEFI (tde.fi), one of the best DeFi accelerators who have supported us in every way. Plus our association with Emirex, Tezos, Polygon, and various other companies who have been key supporters of the project.
We decided to award the 5 best questions 100$. Below is the list of winners from the AMA session:
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@infinitybq1ts
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@francefranco
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@razadEE
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@rjjbbl
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@encompasss
Feel free to learn more about Aqarchain by visiting their Website, Twitter, Medium, Facebook, Instagram, or Telegram. Stay tuned for more AMA sessions on Emirex. Hope you enjoyed this one!
