On the 1st of July 2021, the DeCredit Telegram Community played host to Mr. Yuen from LABS in a live Ask-Me-Anything (AMA).
The AMA session was conducted by Gabriel, DeCredit Community Admin.
The AMA was divided into 3 segments which started with Project introduction, followed by questions from the Community Admin and finally Community live questions chosen by the Guest on Telegram.
A BRIEF INTRODUCTION OF LABS GROUP AND THE HOST
Mr. Yuen is the founder and CEO of LABS Group, which is a digitised real estate investment ecosystem powered by blockchain.
LABS’ 3 Prong Strategy:
1. Crowdfunding and Trading Platform
2. Collateralized Lending Platform
3. NFT solutions on Resorts and Hotels
LABS has a G.A.I.N.S. token model to reward supporters. Please, follow details here: https://linktr.ee/labsgroupio. It is with item 2 that Labs is working closely with DeCredit to build a solid solution and use case for all.
QUESTIONS FROM THE COMMUNITY ADMIN
Question 1:
Gabriel: Could you tell us more about LABS? I.e when was the project established?
Yuen:
I was and still the managing partner of Burnett and had been handling partnership deals since 2018. It was by then I started to think about what blockchain can do and improve on a certain industry. Then I met some property developers and they asked me if blockchain can do so many things, can it improve the property sector?
I said yes. And hence they asked them why don’t I start one then. So here we are. Initially, we went the way of direct STO, but then realized it wasn’t working as the timing was not right. We went back to the drawing board, improving the concept to become a hybrid model with the LABS token remaining a utility model to ensure liquidity.
Gabriel: What an amazing story of what a humble beginning can turn into if the focus is right. Kudos to you and your team
Yuen:
Yes we kept improving the concept and business model, and formed great partnerships. Then a few months back, we completed a successful fund raise and then the exchange listings. Hence LABS tokens are listed now. On Kucoin, Gate, Bitmart and Uniswap. In talk with another major exchange too.
Question 2
Gabriel: We heard of NFT purchases on your platform. Does that mean people own the resort when they purchase an NFT?
Yuen: Yes, LABS has launched a ground breaking project. The first ever community powered and owned NFT fractionalised Resort. With this the NFT owners will get to enjoy the profit sharing rights, the staying rights, the incentives such as VIP welcome packages and special discounts, and also the naming rights etc. It is a very nice resort which will be fractionalised by 365 NFT, each representing a specific day of the year, and all the rights will be for 30 years.
You can find more about the resort and the NFT here: https://gravityresortskk.labsgroup.io/
LABS has done the due diligence, including feasibility study, valuation report, legal compliance and structuring and lastly the site visit. So that all the backers can have peace of mind and can be involved in this investment and enjoyment of the resort at the same time. And these 365NFT will be put up on auction in mid July, all starting at base cost price.
Gabriel: Absolutely impressed by what I’m seeing. Thanks for explaining it deeply. Can we proceed to the next question now or you have some more details to share with us?
Yuen:
Please all visit the website and feel free to contact us if you wish to know more. This is the article on everything you need to know about the Rewarding timeshare NFT auction:
Support this LABS’ groundbreaking project to support our mission of: Bringing Resort and Hotel Investment Plus Enjoyment to Everyone. Together we will make the investment world a fairer place.
Question 3
Gabriel: I found out that there is an exciting project called Kunang Kunang. What is it about and how can I contribute?
Yuen:
The above site indeed is about the Kunang Kunang resort, and it is developed by our strategic partner Gravity Resorts, an experienced unique concept resort developer and manager. It is a Glamping concept, which means glamorous camping. In other words, luxurious camping. When we shared our resort NFT idea, the owner of Gravity Resorts loved it so much that we decided to go all out on this. At time of discussion, this resort is already 70 percent built, and will be 100 percent by end of this year.
For those who are interested in contributing to the fund baking this project, you can click here: http://contributors.labsgroup.io
For those who are interested in the resort NFT, please follow us as we are announcing the details soon. The NFT auction will start on 15th July 2021 on Refinable, our other strategic partner
Question 4
Gabriel: Is there any upcoming pipeline development aside Kunang kunang for the LABS project?
Yuen:
Yes, we are building the bridge on Polygon so that we can allow low cost and efficient single side staking on the Matic network. Of course, the biggest thing is LABS is working with DeCredit to have a specific collateralized lending platform for real estate assets so that everyone can achieve financial leveraging on this biggest proven asset class, which is worth over 200 trillion USD.
Beside the solutions, we are looking into other real estate projects including the resorts in Japan, Thailand and even Mexico, as we have been reached out by many developers, all wanting to work with us utilising our new concept. Our focus will firstly be on SEA resorts and hotels though, as they are closer to us and we have better connections, and also mainly because of the high yields for the supporters.
For example, our coming Kunang Kunang resort has a projected 15 percent return per year. Fantastic for a real estate project.
Question 5
Gabriel: Since you have opened up on the reason for the partnership with Decredit, can we know more details about the reasons why LABS is partnering with Decredit?
Yuen:
All along, as you can see from our published whitepaper, LABS wants to make real estate investment possible for everyone. In order for this to happen, we need to resolve the few core pain points of real estate investment, namely the lack of liquidity, high involvement costs and difficulty in cross border investments.
For example, if someone who only has 10K USDT investment money, it will be difficult for that person to invest in the best asset class, which is real estate. So not only do we want to achieve that, we want more. After that person invests with his or her limited fund, we want to be able to allow him or her to achieve financial leveraging, just like how the rich do it.
We want to be able to allow them to stake their real estate tokens and then borrow against them, so that they can reinvest and hence financial leveraging. Hence collateralized lending platform is the best solution for financial leveraging on real estate assets.
And then as a managing partner of Bitmart, I got the chance to learn about DeCredit. Our vision and belief is totally aligned, and LABS think that we should let the professionals do their best job. And hence a strategic partnership is born here.
Gabriel: That’s really a great move. I would say it has been greatly awesome on the AMA with you so far.
Are there any other important information about LABS that you would like to share with us?
Yuen:
Yes for sure. We are also working with Polygon on that, and also one huge lending liquidity provider platform. I just found out that we got some latest update marketing news and hence I’m sharing here:
New video series out now. Learn more about the different limitations of traditional timeshares, and discover how LABS’s innovation brings opportunities!
Check out the series’ overview in our medium or just click through to the playlist!
https://twitter.com/labsgroupio/status/1410577173459570689?s=20
TELEGRAM COMMUNITY LIVE AMA QUESTION
Question 1 @ Sanyam Sharma:
I found the “credit loan models” feature of your project very interesting and unique. Can you please elaborate a little about how it will function?
Yuen:
Basically we will have a staking pool where the asset is pledged on one side and the lending pool on the other side. The smart contract will of course control the swapping accordingly with the conditions stated and built in. Such as, the leveraged rate and the lending rate, and conditions of liquidating. So that everything is clear and executed without an intermediary. Of course, we would engage a professional property evaluator to provide the proper due diligence and valuation on the asset pledged.
Question 2 @ Vansh:
Since your project is the first ecosystem supporting the real estate market and hence it is a totally fresh concept. How is your team planning to bring the target market to your project? Because presently there is hardly any real estate market involvement in crypto.
Yuen:
To make an ecosystem work, we need to manage in both ends, the demand and supply, which in our case are the property developers (their funding and liquidity needs) and the investors (the need of good deals and returns). Hence firstly, LABS is working very hard to ensure that good deals are brought in. On the demand side, now things are made easier as the best timing is now, since the covid has made them more conceivable to new ways of doing things.
Then of course, we will do a lot of social marketing to gain public knowledge and support.
Question 3@ Nd arfn:
Maybe labs will provide NFT exchange also in your platform?
Yuen:
This might be something worth seriously looking at since a marketplace consisting of just real estate NFT might make sense due to its uniqueness and that it is a big enough market.
Question 4 @ Khanzet:
COVID 19 has slowed down many economies around the world but as a crypto business, does it affect you negatively or positively? Is LABS still on track to achieve your goals or are you planning a new development?
Yuen:
No as mentioned, in fact this is the best timing to gain to property developers now. They used to be hard to talk to but now the special situations are making things much easier. And many things are at good discounts now. Others see a crisis but LABS see opportunities now.
Question 5 @ Comeback:
The NFT, called LABS RTS (Rewarding Timeshare) NFT, collectively represents 100% of the resort’s profit share. Can you tell us what other incentives or rights users who own any of the resort’s NFTs have?
Yuen:
Yes, the other incentives are staying rights on specific days as complimentary. As long as you own those NFT which represent those days of the year, for 30 years. And you will be able to swap for other days and locations (when we have more projects obviously), trade them, gift them and let them. You will also get other incentives including a welcome package and special discounts on other days.
Question 6 @ Tozaqua:
Nearly 80% of investors only focus on short-term token price instead of understanding the real value of the project. Can LABS tell us the motivations and benefits for investors to hold your tokens in the long term?
Yuen:
LABS TOKEN MODEL:
LABS tokens are Ecosystem tokens (Utility tokens) with our special G.A.I.N.S. model
● Governance
Our token holders can vote on important matters of interest.
● Access
LABS token holders can get early access to real estate projects that the ecosystem introduces.
● Incentives
LABS token holders can get incentives should they decide to get involved in our projects on our ecosystem.
● Nomination
LABS token holders can nominate projects they wish to be launched on our platforms and be rewarded.
● Staking (for rewards)
LABS token holders can stake the tokens to get rewards. LABS will use its governed 80 percent profit generated by the LABS ecosystem to buy back LABS tokens from the open market in a quarterly manner, and distribute to the staking pool in accordance to the size and days staked in the pool. By buying back from open markets with the ecosystem profits, the token price would be boosted and holders will be rewarded when the ecosystem gets even bigger traction. This unique mechanism will address the needs of short term investors and mid long term holders.
LABS’ SOCIAL MEDIA CHANNELS
● Telegram group: https://t.me/labsgroupio
● Twitter: https://twitter.com/labsgroupio
● Medium: https://labsgroupio.medium.com/
● Instagram: https://www.instagram.com/labsgroupio/
● LABS Group Support: https://labsgroup.helpjuice.com/
● Telegram announcement channel:https://t.me/LabsGroupAnnouncement
● YouTube: https://www.youtube.com/channel/UCFE1WiuctumRk9CRNRjJoWA
Question 3@ Nd arfn:
Maybe labs will provide NFT exchange also in your platform?
Yuen:
This might be something worth seriously looking at since a marketplace consisting of just real estate NFT might make sense due to its uniqueness and that it is a big enough market.
Question 4 @ Khanzet:
COVID 19 has slowed down many economies around the world but as a crypto business, does it affect you negatively or positively? Is LABS still on track to achieve your goals or are you planning a new development?
Yuen:
No as mentioned, in fact this is the best timing to gain to property developers now. They used to be hard to talk to but now the special situations are making things much easier. And many things are at good discounts now. Others see a crisis but LABS see opportunities now.
Question 5 @ Comeback:
The NFT, called LABS RTS (Rewarding Timeshare) NFT, collectively represents 100% of the resort’s profit share. Can you tell us what other incentives or rights users who own any of the resort’s NFTs have?
Yuen:
Yes, the other incentives are staying rights on specific days as complimentary. As long as you own those NFT which represent those days of the year, for 30 years. And you will be able to swap for other days and locations (when we have more projects obviously), trade them, gift them and let them. You will also get other incentives including a welcome package and special discounts on other days.
Question 6 @ Tozaqua:
Nearly 80% of investors only focus on short-term token price instead of understanding the real value of the project. Can LABS tell us the motivations and benefits for investors to hold your tokens in the long term?
Yuen:
LABS TOKEN MODEL:
LABS tokens are Ecosystem tokens (Utility tokens) with our special G.A.I.N.S. model
● Governance
Our token holders can vote on important matters of interest.
● Access
LABS token holders can get early access to real estate projects that the ecosystem introduces.
● Incentives
LABS token holders can get incentives should they decide to get involved in our projects on our ecosystem.
● Nomination
LABS token holders can nominate projects they wish to be launched on our platforms and be rewarded.
● Staking (for rewards)
LABS token holders can stake the tokens to get rewards. LABS will use its governed 80 percent profit generated by the LABS ecosystem to buy back LABS tokens from the open market in a quarterly manner, and distribute to the staking pool in accordance to the size and days staked in the pool. By buying back from open markets with the ecosystem profits, the token price would be boosted and holders will be rewarded when the ecosystem gets even bigger traction. This unique mechanism will address the needs of short term investors and mid long term holders.
LABS’ SOCIAL MEDIA CHANNELS
● Telegram group: https://t.me/labsgroupio
● Twitter: https://twitter.com/labsgroupio
● Medium: https://labsgroupio.medium.com/
● Instagram: https://www.instagram.com/labsgroupio/
● LABS Group Support: https://labsgroup.helpjuice.com/
● Telegram announcement channel:https://t.me/LabsGroupAnnouncement
● YouTube: https://www.youtube.com/channel/UCFE1WiuctumRk9CRNRjJoWA
