Fees & Service Charges

Our platform takes pride in its transparent fee structure, designed to provide you with clarity about every cost you might encounter while using our services. Below, we provide a detailed explanation of each fee type.

1. Minting Fees

The creation of an NFT to represent your property is known as "minting." This process occurs on the blockchain and incurs minting fees.

• What are they? Minting a DeedNFT refers to the process of creating a new NFT to represent your property. It's a one-time operation carried out on the blockchain.

• Why are they charged? Minting fees mainly cover the computational resources needed to process this operation on the blockchain. They're intrinsic to the operation of decentralized networks.

• Cost variability: Please note, minting fees can fluctuate based on network congestion at the time of minting.

As with all blockchain operations, minting fees are necessary to facilitate the process and secure the network.

2. Registration Fees

The registration of your property on our platform is a crucial initial step. We ensure the validity and legal compliance of each property with a nominal fee.

• What are they? When you first register your property on our platform, a flat registration fee of $500 is charged.

• Why are they charged? This fee covers the costs of property verification, document handling, and other administrative processes. It ensures the integrity and reliability of the platform.

• Per Property: The registration fee is charged for each individual property you register, which each represent an individual LLC that holds the property.

The registration fee is instrumental in maintaining the high standard of properties listed on our platform.

3. Transfer Fees

When ownership of a DeedNFT shifts from one user to another, transfer fees are incurred.

• What are they? Transfer fees are charged when a DeedNFT is transferred from one user to another.

• Why are they charged? These fees cover both computational costs associated with securely transferring ownership of the NFT on the blockchain and off-chain administrative costs.

• Cost: The transfer fee is 5% of the property's latest recorded price or a minimum of $100 in xDAI, whichever is higher.

This fee helps to cover the costs associated with the secure transfer of assets and administrative services.

4. Gas Fees

Each transaction performed on the Ethereum network (which our platform is built upon) comes with its associated gas fees.

• What are they? Gas fees are transaction costs that the Ethereum network (on which our platform operates) charges to process and validate blockchain transactions.

• Why are they charged? Gas fees are necessary for the miners who validate and secure the Ethereum network. They vary depending on the complexity of the transaction and the network congestion at the time of the transaction.

• Activity-based: Any action performed on the platform, such as minting, transferring, leasing, or selling properties, incurs gas fees.

It's important to note that gas fees are an essential aspect of maintaining the security and integrity of the Ethereum network.

5. Platform Transaction Fees

Our platform provides a seamless and efficient experience for users to conduct various property transactions, which incurs platform transaction fees.

• What are they? Our platform charges fees on all transactions conducted. There's a 5% fee on all recurring property transactions, such as leases and financing arrangements. Additionally, a 2.5% fee applies to all other transactions.

• Why are they charged? These fees are vital for the ongoing maintenance and development of the platform, ensuring a smooth and secure user experience.

These fees allow us to continuously provide high-quality service and improve the platform.

Our aim is to make property transactions more efficient, secure, and affordable compared to traditional methods. By structuring each property within individual Property Wrappers administered by the platform, we lower transaction costs and complexities, bypassing the need to interact with the title or deed outside of the initial property registration.

If you have any questions regarding our fees or services, don't hesitate to reach out to our support team.