Weset is thrilled to announce our groundbreaking partnership with Chainlink, revolutionizing the way asset owners manage payouts for RWA tokens. This integration marks a significant leap in automation, providing asset owners with a seamless process to distribute payouts effortlessly while offering RWA token holders a seamless user experience.
Automating Payouts with Chainlink
Our collaboration with Chainlink introduces a cutting-edge solution for automating payouts through smart contracts. Asset owners can now log in and initiate payouts to a designated smart contract, which, in turn, ensures the even distribution of funds to token holders. This streamlined approach enhances the user experience and promotes efficiency in managing payouts between asset owners and their investors.
Real-World Implementation: IT Building Collection
Experience the benefits firsthand with our IT Building collection, where real estate token holders receive weekly payouts in USDT directly to their wallets. The Chainlink protocol facilitates a secure and reliable mechanism, reinforcing Weset’s commitment to providing innovative solutions for our users.
Chainlink Automation: A Decentralized Powerhouse
Chainlink Automation serves as a decentralized transaction execution solution, empowering smart contracts to automate key functions and DevOps tasks. This trust-minimized and cost-efficient solution adds a new dimension to the Weset ecosystem, enabling advanced utility and reliable and expedient on-chain computation.
How it Works
The Chainlink x Weset Automation integration consists of 3 smart contracts that automate payment distribution for the holders of the Weset IT Building NFT. The IT Building NFT is Weset’s inaugural RWA offering on the Weset platform. The system consists of the following 3 contracts.
- IT Building NFT – An 1155 contract currently available for mint with $USDT or $WECO.
- IT Building Tracker – This contract is a Chainlink Log Automation listening for mints on chain of the IT Building 1155. This contract arose out of necessity because there is currently no way to retrieve the list of token holders and quantities for any given 1155 within Solidity like there is for ERC-20 tokens.
- IT Building Payment Manager – This is a Chainlink Time-Based Automation. This collateralized payment manager works in tandem with the ‘Mint Tracker’ and reads the list of holders and quantities recorded to proportionally payout the holders of the IT Building NFTs automatically!
Payments are scheduled weekly. No ‘withdraw’ or manual transactions to sign are necessary. Mint the NFT and receive payouts from the rent income and Airbnb revenue.
Chainlink Automations allow for dynamic and robust on-chain solutions not previously possible. These solutions will be developed further to enhance the Weset experience.
Roadmap: Integrating Chainlink Cross-Chain Interoperability Protocol (CCIP)
Looking ahead, Weset is excited to share our roadmap with Chainlink, highlighting the potential of the Chainlink Cross-Chain Interoperability Protocol (CCIP). This protocol unlocks a myriad of possibilities, providing a seamless interface for secure cross-chain operations.
CCIP Goals for Weset:
1. Expanding to Ethereum: We plan to put $WECO on Ethereum, extending our reach and providing users with more options for transactions.
2. Dynamic RWA Token Value: Leveraging CCIP, we aim to enable the fluctuation of RWA token values based on $WECO purchases. This innovative approach allows for RWA tokens to be priced in USDT while it can also be purchased in a fluctuating $WECO value in order to accurately reflect market price fluctuations of the Weset utility token.
Embrace the Future with Weset and Chainlink
Weset remains at the forefront of innovation, driven by a commitment to delivering unparalleled solutions for our community. The integration with Chainlink and the upcoming
Validating Weset’s Platform
The recent partnership with a major blockchain industry leader serves as a strong validation of Weset’s standing in decentralized finance and asset tokenization. This collaboration enhances Weset’s credibility and lays the foundation for a strong relationship that will continue to accelerate Weset’s innovation in the RWA space.
The official Weset page in the Chainlink Ecosystem can be found here.