EstateX Protocol

Introduction

EstateX is a project designed to fundamentally improve the usage and operation of real estate (Real World Assets, RWA) by leveraging blockchain technology. The traditional real estate market has inherent limitations such as high entry barriers, complex contract procedures, geographical constraints, and low liquidity.

EstateX seeks to address these issues by issuing NFTs that represent usage rights for real estate spaces, thereby creating a new real estate ecosystem where anyone can easily and transparently utilize and operate spaces.

Background

Background: Realizing the Potential of Bangkok’s Daytime Tourism

Thailand attracts tens of millions of international visitors every year, yet Bangkok’s tourism scene has largely centered around nighttime activities. While the city boasts countless nighttime options—such as entertainment districts, shopping malls, and rooftop bars—there has been an ongoing critique that, during the daytime, aside from the Grand Palace and a few nearby temples, there aren’t many interactive attractions for travelers.

EstateX took note of this gap in daytime tourism. Although numerous foreign tourists already visit Bangkok, the lack of exciting daytime experiences and venues suggests that if new content or “hot places” were created to invigorate the daytime sector, it could have a significant ripple effect on Thailand’s overall tourism industry.

1) Reassessing the Bangkok Tourism Market

While Bangkok is famous for its rich culture, cuisine, shopping, and nightlife, the demand for daytime tourism has not been fully addressed, which in EstateX’s view represents both an investment opportunity and development potential. The team envisions revitalizing central-city areas along the Chao Phraya River, making them vibrant attractions even during daylight hours.

2) Direct Development + Digital Innovation

With years of on-the-ground expertise in real estate, the EstateX team believes that, beyond traditional real estate investment or leasing models, integrating digital innovation—notably RWA (Real World Asset) and blockchain technologies—into tourism facilities can further accelerate the growth of daytime tourism. By establishing “hot places” that Grand Palace visitors can enjoy during the day, and adding a transparent, efficient operating structure (blockchain-based payments, real-time settlement, etc.), EstateX aims to bring this vision to life.

3) Discussions with Bangkok City and the Thai Tourism Authority

Bangkok City and the Thai Tourism Authority have shown interest in EstateX’s aim of boosting daytime tourism, and various points of cooperation are under discussion. Through potential collaboration with these government entities, EstateX can strengthen the foundation for implementing its plan to redevelop urban real estate and offer daytime-focused facilities. This helps to make EstateX’s blueprint for daytime experiential venues more concrete.

In conclusion, EstateX identified the most glaring shortcoming in Bangkok tourism—“nowhere to go during the daytime”—and decided to build new forms of tourism and commercial spaces by merging real estate development know-how with digital (blockchain RWA) technologies. The initiative stems from a commitment to diversify and enhance Bangkok’s tourism industry, giving domestic and international visitors richer experiences in the daytime.

Problem

Problems in the Existing Market

Traditionally, the real estate market requires significant capital and involves complex procedures, making it difficult for ordinary individuals or small-scale investors to participate. Additionally, there is severe information asymmetry among stakeholders, including property owners and tenants, which leads to high costs and delays in obtaining reliable information. Consequently, the real estate investment and operation process often lacks transparency and efficiency, resulting in reduced asset liquidity. Specifically, the following problems exist:

1) High Initial Investment Cost and Complex Entry Procedures

• High Initial Costs: Acquiring real estate requires substantial capital, and additional expenses for interior work, remodeling, and operational setup. Whether for simple rental or commercial facility operation, this creates a significant entry barrier.
• Complicated Administrative and Contract Procedures: Real estate acquisition and operation involve numerous administrative steps—such as permits, paperwork, and contract reviews—that are cumbersome and complex. Legal experts and consulting firms often charge high fees, and the process is time-consuming.
• Geographical Constraints: Each region has its own laws, regulations, and market characteristics. Individuals or companies looking to expand into different regions or overseas face added challenges.

2) Lack of Transparency and Reliability in Operating Rights and Rental Contracts

• Information Asymmetry: Insufficient sharing of information between property owners and tenants often makes it difficult for operators to accurately assess the condition, value, and potential risks of a property.
• Lack of Transparency: It is hard to verify whether actual operations align with contract terms. Additionally, inaccurate accounting can occur during payment settlements and profit distribution.
• High Costs in Case of Disputes: If there is a dispute over tenancy or operating rights, litigation, arbitration, and administrative procedures require significant time and expense.

3) Limited Liquidity and Low Efficiency

• Difficulty in Liquidity: Due to the physical nature of real estate, immediate transactions are difficult. Selling a property involves complex procedures, making it harder to rotate capital efficiently.
• Reduced Efficiency in the Rental Market: When facilities remain unused or vacant for extended periods, the value of the real estate declines and maintenance costs rise, resulting in inefficient asset management.
• Increasing Operational Management Costs: Rental contract management, facility maintenance, tenant recruitment, and general communication require considerable human resources, leading to high indirect costs.

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Solution

EstateX’s Solutions

EstateX revolutionizes the real estate operating environment by utilizing blockchain (NFTs, smart contracts) in the following ways:

• Clear ownership proof of real estate operating rights and enhanced transparency of transactions
• Automated contract management and simplified operations through smart contracts
• Convenient and secure internal payment system

EstateX Mainnet as an Infrastructure

EstateX Mainnet utilizes Base chain technology to aim for a high-speed blockchain network platform capable of processing large-scale big data. From real estate and key industries to DApp application development, it is being built with broad extensibility, allowing adoption across a wide range of sectors.

1) Major Features

• Data Block for Large-Scale Processing (ZK Rollup)
  Supports data blocks optimized for high-volume transactions, leveraging ZK Rollup to minimize on-chain load and reduce fees.
• Encrypted Transactions & Acceleration
  Provides transaction-level encryption; includes an acceleration module to improve TPS and finality speed.
• Flexible Gas Policy
  Allows different fee policies by platform or chain segment; can also operate as a private chain for enterprise needs.
• Stable Platform Layer
  Built on a PoS or IBFT 2.0-based mechanism, ensuring reliable security and network stability.

2) Technical Highlights

• Dynamically creates Data Blocks to handle surging transaction loads.
• Expands into side chains to store “Generation Blocks,” improving data retention and security.
• Cross-chain & extended data blocks possible through additional layer expansions.

• Off-chain computation with minimal summary data posted to mainnet, enabling lower fees and higher speed.
• Combines robust Rollup solutions to ensure both security (mainnet verification) and performance (off-chain scaling).
• Aims to provide a distinctive mainnet capable of the fastest, largest-scale data processing.

3) Performance Comparison

The table above is an illustrative comparison between EstateX Mainnet and other well-known blockchains. The figures presented are based on internal test results conducted independently, and thus may vary under real-world conditions.

Conclusion

The EstateX Mainnet is designed to serve as a high-performance blockchain infrastructure that processes large-scale big data while offering flexibility in gas policies and multi-chain expansions. By combining advanced Rollup features, a dynamic data block system, and strong security, EstateX aims to support a wide spectrum of industries, from real estate to various DApps, as a foundational layer for the next generation of blockchain services.

Operation Model

Real Estate Operation Model

EstateX employs two models to operate real estate assets.

1) Direct Operation Model

The Foundation directly develops or remodels tourist attractions and commercial facilities, issuing NFTs that grant usage rights for these spaces.

NFT holders operate the spaces independently and only pay a fixed management fee to the Foundation, regardless of revenue.

2) Partnership Model

EstateX collaborates with existing real estate owners to tokenize space usage rights as NFTs on the blockchain.

Partner companies operate the spaces directly, while EstateX provides technical support such as NFT issuance, smart contracts, and payment systems.

Partner companies pay a fixed technology usage fee to the Foundation, with no revenue-sharing model in place.

Operating-rights NFTs are based on exclusive ownership and exclusive use.

Token Structure and Utilization

Token Structure and Utilization

The EstateX ecosystem is built around a utility token (EXA), supplemented by a governance token (EXG) and internal payment points.

1) EXA (Utility Token)

• Used as the payment method for all transactions within the platform (NFT purchases, rental fees, facility usage fees, etc.)
• Used to pay gas fees
• Provides membership benefits and event participation rights
• Used to pay NFT issuance fees and service charges
• Staking EXA grants Membership NFTs (offering facility discounts, priority reservations, etc.)

# Token Distribution

- Sales 40%
- Ecosystem 30%
- Marketing 15%
- Team 7%
- Advisors 3%
- Liquidity Reserve 5%

Examples of EXA Usage

• User A purchases an NFT on the EstateX platform using EXA to operate a café and pays a monthly fixed management fee with EXA.
• Tourist B pays for entrance fees and goods/services at a tourist facility using EXA, receiving various benefits in return.

2) EXG (Governance Token, Non-Tradeable)

Distributed to long-term EXA stakers, granting voting rights on major policy decisions.

No official exchange listing or Foundation-led distribution is planned, but peer-to-peer transactions are not restricted.

3) Internal Payment Points

Dedicated internal points to support convenient and stable payments within facilities.

Maintains a 1:1 fixed value and strictly complies with local financial and payment regulations.

NFTs Structure

NFT Structure

EstateX offers two types of NFTs.

1) Membership NFT

Provided only as a reward for EXA staking, offering real benefits such as priority facility access and special event invitations.

2) Space Operation Rights NFT

Grants exclusive and independent operation rights, with no profit-sharing model based on revenue.

If not in use, holders may rent out the NFT to others for a fixed rental fee.

Business Model

Business Model

EstateX generates revenue through:

• Initial fees from issuing operating-rights NFTs
• Fixed management fees from store and facility operators
• Payment fees incurred when EXA is used on the platform
• Technology usage fees paid by partnership companies

Security and Regulatory Compliance

EstateX strictly adheres to financial and real estate regulations in Thailand and other jurisdictions. By participating in regulatory sandboxes, it minimizes legal risks associated with securities, ensuring the stability of the project.

Conclusion

Conclusion

This white paper explains the vision of EstateX as a project aimed at innovating the methods of real estate operation and usage, outlining the corresponding business model, token economy structure, and the way NFTs are used to certify rights.

By leveraging blockchain technology to provide transparent and reliable proof of operating rights along with flexible real estate usage, EstateX aims to create new value in the global real estate market. The team will proactively address various market, technological, and legal challenges that may arise during the project’s progression, building a sustainable ecosystem where all participants can achieve a win-win outcome.

Disclaimer

This document has been prepared to provide information about the concepts, direction, and operating principles of the EstateX project, including plans, estimates, and forecasts current at the time of writing. All such information is subject to modification or cancellation without prior notice due to changes in market conditions, legal or regulatory developments, internal policies, or other factors.

Furthermore, this document is neither an invitation to invest nor financial/legal advice. Any decisions or investments made based on the contents herein remain solely at the risk and discretion of the individual or entity making them. Under no circumstances shall EstateX or its affiliates be liable for any financial losses, legal disputes, or other damages that may arise from referencing this document or participating in the project.

1) Risks Related to Virtual Assets and Blockchain

• Price Volatility: The value of tokens (cryptocurrencies, NFTs) may fluctuate rapidly and could potentially drop to zero
• Technical Risks: Blockchain networks may face errors, wallet key losses, hacking incidents, or vulnerabilities in smart contracts
• Legal/Regulatory Changes: Cryptocurrencies, NFTs, or staking may be subject to evolving regulations in different jurisdictions, potentially causing schedule, policy, or usage changes or even cessation of certain project elements.

2) Staking and NFTs

• Staking Rewards: Any rewards (tokens, NFTs, benefits) from staking are subject to internal policies and market factors, and do not guarantee profit or dividends.
• Uncertain NFT Value: NFTs (e.g., membership, operating rights) are autonomously valued based on utility and scarcity, with no guarantee by EstateX of price appreciation or liquidity.
• Security Law Considerations: The project aims not to be deemed a security, offering no guaranteed revenue share or profit. Nonetheless, there remains a possibility that certain jurisdictions might interpret parts of the project as securities.

3) Notes on Project Participation

• Independent Judgment: Nothing in this document is mandatory, and participants must conduct their own legal/financial review before deciding to join.
• KYC/AML: Certain countries may require KYC, AML, or similar compliance processes. Participants bear responsibility for adhering to these regulations.
• Policy Modifications: Token distribution plans, staking structures, NFT issuances, and operating policies may be altered at any time without notice in response to practical or strategic considerations.

This disclaimer aims to outline potential risks and concerns within the EstateX project. In all cases, relevant national laws and regulatory authorities have ultimate precedence. We strongly advise reviewing this document thoroughly and seeking professional counsel (legal, tax, financial) before making any commitments.