Definder Network: Q1 2024 Progress Report

The purpose of this outlook is to provide insights into activities of Definder as well as to provide our community and stakeholders a full overview of the platform activities and developments through a detailed account of our progress in the first quarter of 2024. 

This period has been marked by significant developments and strategic enhancements, setting a strong foundation for our future endeavours. The onset of 2024 heralded a pivotal change in Definder’s leadership with the appointment of a new CEO, signifying a renewed commitment to our mission. Accompanying this change was a comprehensive audit across all facets of our operation—technology, legal framework, administration, and financials—to align our practices with the highest standards and to adapt to the evolving global regulatory landscape. 

In Q1 2024, Definder has made significant strides in aligning its operations with the evolving global regulatory and technological landscapes, ensuring a robust legal framework for its decentralized finance platform. Through comprehensive audits and updates, we’ve enhanced our smart contracts, DApp functionalities, and user experience, paving the way for the upcoming relaunch with enriched features. Our efforts in forging strategic partnerships aim to diversify and expand our investment opportunities, while initiatives to improve DNT token liquidity and introduce innovative reward mechanisms are set to increase community engagement and token value. With ambitious plans for Q2, including the listing of new projects and a targeted marketing campaign, Definder is poised for transformative growth, offering unparalleled access to decentralized finance opportunities in real-world assets.

 Legal

In light of the considerable shifts in global regulations concerning tokenization, cryptocurrencies, and crowdfunding over the past two years, we conducted an exhaustive legal review. Our goal was to ensure that Definder operates within a secure legal framework, enabling us to conduct real-world asset (RWA) financing activities effectively and to assess our licensing needs. This review concluded that Definder’s operations, particularly our DeFi crypto loans in the EU, US, and parts of Asia, remain outside the scope of current regulations on lending, provided that our investors retain full control over their funds. Our platform’s emphasis on user-driven decisions and our role as a facilitative marketplace for investors and projects, negate the need for immediate additional licensing.

Technology

Following the establishment of our operational legal framework, we have meticulously updated our White Paper to more accurately reflect the infrastructure and logic underpinning the Definder Network. This initiative led to a comprehensive audit of technological developments made since 2017, spanning both Smartlands and the Definder Network. Our review encompassed smart contracts (covering lending, staking, and liquidity provision), back-end functionalities, and the overall user experience of our website and the Smartlands Platform.

The audit revealed areas requiring updates to enhance flexibility and user incentives. Specifically, we identified the need for more adaptable lending contracts to better accommodate the nuances of Real Estate Loan agreements, an enhancement of staking rewards to encourage long-term token holding, and an overhaul of our DAO voting system to introduce new mechanisms for voting power—granting baseline voting levels to registered users and offering increased voting power and bonus rewards to active and loyal investors.

In response to these findings, we’ve outlined technical tasks for both the website and the DApp, leading to immediate updates including SEO optimization, user experience enhancements, and content revisions. Concurrently, DApp development has progressed significantly, with the initial test successfully conducted on March 30, 2024. We’re now preparing for a second test on April 10, 2024, which will focus on integrating MetaMask with our smart contracts, updating lending and collateral contracts, and enhancing DAO rewards and back-office dashboards. These efforts underscore our commitment to continually refining our platform to better serve our users and stakeholders.

Operations

Direct business activities have been focused on partnerships and sales. We have been actively engaging in discussions with real world projects for marketplace listings. Among interested parties we are currently in negotiation with a number of groups; some of the more interesting opportunities for our investors include:

• Real Estate development group out of Bali is interested in the retail loan partner to help their international buyer secure loans for Villas and Apartment acquisitions.
• Luxury hospitality group in Tanzania, eager to augment their collection of non-fixture luxury hotels and safaris by increasing the luxury room offerings within their already successful operations.
• Leading car-sharing company in the Baltic region is exploring long-term financing solutions with us to expand their fleet across three distinct areas, signalling a significant growth trajectory.
• Retail park operator out of Western Europe is considering tokenizing parts of their Revenue generating asset portfolio, through Definder.
• Our Ukrainian partners that have been running a successful value-add strategy of transforming purchased buildings into grocery stores are interested to receive additional loans to scale the strategy/ These varied and dynamic potential partnerships underscore our commitment to broadening the spectrum of investment opportunities available to our community.

Token

The DNT token is a crucial component of the Definder ecosystem and central to our business operations. We have identified challenges with token liquidity and market making (MM) and are implementing strategies to address these inefficiencies. Key measures include a liquidity injection of 5000 USDT and the engagement of a new market-making partner starting from April 12, 2024. Our immediate goals are to enhance token availability for larger transactions and to boost daily trading volumes to a minimum of 1000 USDT — criteria necessary for listing on Coingecko and Coin Market Cap, ensuring our token’s live price updates are accessible across all major platforms.

Furthermore, we are exploring listing opportunities with Coinstore, Coinbase, and Crypto.com to increase the DNT token’s accessibility, particularly for our US-based community members. To encourage long-term token holding, we are introducing updated functionalities: a new staking mechanism offering yields between 10.78% to 14.88% APY, increased voting rights for token holders, priority in repayments, exclusive access to deals, and invitations to events for token holders.

Additionally, we’ve established a lottery reward system, conducted one to two times yearly, offering community members the chance to win free vacations to villas and hotels financed through our platform. We reserve one week per year at each hospitality asset for this purpose, with lottery chances increasing with the amount of DNT tokens held. This innovative reward system aims to enhance token value and foster a deeper community engagement with our platform.

Outlook for Q2 2024

Q2 marks a significant phase for us as we progress towards the relaunch of our DApp, enhanced with full functionality updates. We’re on track to list our first project at the end of April 2024, offering our users investment opportunities up to $200,000 USDT. Subsequent to this initial launch, we aim to introduce at least two more projects for investment within Q2.

Concurrently, comprehensive marketing campaigns are set to kick off in alignment with the DApp launch. We have dedicated a budget exceeding $25,000 for sales and marketing efforts focused on both the token and our projects. Our goal for the end of Q2 is to achieve a minimum token price of $0.15 USDT, with the potential for further increases based on the success of our marketing initiatives and capital-raising efforts.

In summary, Q1 2024 has been a period of strategic reassessment and technological refinement for Definder. Our efforts across legal compliance, technological innovation, market engagement, and token strategy lay the groundwork for our ambitious goals. We are immensely grateful for the continued support of our community and stakeholders and are excited about the journey ahead.