HAGUE, Netherlands, Oct. 27, 2021 (GLOBE NEWSWIRE) -- Empowa, a RealFi property platform, has launched its initial stake pool offering, giving people a chance to be part of the solution to the Trillion Dollar housing opportunity in Africa. Empowa is the first Defi property platform that combines emerging technology, sustainable building, and decentralized financial inclusion. The platform targets those who are financially excluded in Africa to give them a chance to access affordable housing.
With rapid urbanization in the continent and the youngest population in the world, the demand for affordable housing in Africa is growing by the day. Despite the efforts of governments and Developmental Financial Institutions, the affordable housing market continues to grow and there is now a backlog of over 50 million housing units in Africa.
Disruption of technology
This growing backlog demonstrates that the incumbent financial system is unable to address this problem, opening up an exciting opportunity for disruption. Blockchain and DeFi may just be the technology revolution able to address both the financial and real estate challenges in the developing world, particularly in Africa. Empowa believes so and is developing the platform to address the challenge.
Empowa is a RealFi project that offers a unique opportunity within crypto. By providing decentralized financing, Empowa is the key to the potential of the under-served African mortgage market, unlocking affordable and greener homes for more Africans. The approach and technology application demonstrate an innovative approach to RealFi in action. Decentralized funding can tap into the under-served mortgage market, enabling social and financial investment into real estate for economic empowerment and environmental protection.
The Empowa platform is based on the Cardano blockchain for transaction verification, smart contracts, decentralization, and tokenization. Like many projects on Cardano, it will be fueled by ADA to reduce transaction costs.
The ISPO is an exciting, low-risk way to be part of the project as it is based on the rewards from the staking of ADA. To participate in the ISPO, one can delegate ADA tokens to the public Empowa stake pools (EMP1 or EMP2). Staking rewards from these pools are distributed in the form of Empowa tokens.
The advantage of such an ISPO is that participants can keep their existing ADA holdings and use their staking rewards to get access to the Empowa token. There are also further rewards for those who own Empowa Founding Community NFT’s and those who maintain their stakes in the EMP1 and EMP2 stake pools for longer.
How to be part of the ISPO
To participate in the ISPO, you need to stake your ADA to either of the stake pools, which can either be EMP1 or EMP2.
It is essential to stake early as there is a limit of only 4 million Empowa tokens allocated for the ISPO.
RealFi projects will be more resilient to the volatility of the crypto markets, given their link to real-world applications. Property applications such as Empowa, which utilise blockchain technology to solve real world property and finance challenges, present an exciting opportunity for the reward of building a bridge between the two worlds.
People can participate in the ISPO without an NFT, but holders of Founding Community NFTs (FC NFTs) receive an increased Reward Exchange Rate.
Empowa, the first RealFi (Defi) property platform on Cardano, which combines emerging technology, sustainable building and decentralized financial inclusion. The primary mission of Empowa is to enable decentralized end-user financing for more affordable and greener houses in Africa.
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Alke Gijrath, Empowa Technology Ltd Head PR
SOURCE: Empowa Technology Ltd