An innovative blockchain-based project aims to fund not just boats and houses, but entire floating cities on the ocean powered by decentralized finance.
TLDR
- Stead is a DeFi platform providing liquidity to small marine businesses like fishing, fish farming, and floating infrastructure
- The platform backs projects including floating houses, hotels, restaurants, docks, and entire floating cities
- Stead tokens allow underbanked users like fishermen to access funding for assets through a “lease-to-own” model
- The supply model burns tokens over time as leased assets are paid off, transitioning ownership
- Long-term, Stead aims to partner to build fully floating cities with independent infrastructure
Called Stead, the new initiative provides liquidity and financial services to marine businesses and individuals through crypto. The end goal is enabling modular, connected floating villages with independent power, water and more.
Based in the Philippines, Stead focuses first on serving the large underbanked fishing and fish farming industries in developing nations. Through crypto lending, the platform backs critical purchases like boats, gear, and processing equipment.
Stead’s novel token system allows buyers to “lease-to-own” assets. Users burn tokens over time until more value has been destroyed than initially minted for the loan. This transfers full ownership.
The model provides flexible financing to those unable to get traditional loans. And the leased assets act as collateral if users stop payments.
After establishing roots in fishing, Stead plans to support grander visions like entire floating neighborhoods. The company already funded its first project for several manufactured floating houses.
Using modular ships and platforms, Stead wants to enable self-contained floating cities. Linked modules would share electricity, wifi, fresh water, sewage, and transport.
The concept opens many possibilities – tourist destinations, research labs, offshore production, digital nomad havens, and more. With regulation still catching up, establishing such cities in international waters also allows more flexibility.
Stead’s incremental strategy starts with financing marine individuals and builds towards extensive, long-term floating infrastructure. Along the way, it applies several innovative blockchain mechanisms.
The system dynamically pegs token prices to minting costs. And as users pay off assets by burning tokens, circulating supply falls. This aims to create intrinsic, growing value.
Smart contracts enable automated ownership transfers after meeting burn requirements. And records like titles are immutably tracked on-chain.
Through crypto-economics, Stead aligns individual incentives with collective outcomes – financing development of these futuristic floating projects.
With the first floating houses already complete, Stead is proving these concepts can transition from theory to reality. The initiative empowers two strategic groups:
- Marine workers in challenging financial situations
- Groups aiming to build offshore spaces with more freedom
By intersecting these interests, Stead could pioneer a new avenue for exercising autonomy at sea, backed by decentralized tools. The potential to scale from ships to entire floating cities unlocks plenty of opportunities.
While still early, momentum is clearly building behind this futuristic vision empowered by blockchain technology. The modular nature means realizing it simply starts floating one piece at a time.
The post Floating Cities of the Future? DeFi Platform Stead Aims to Fund Modular Floating Cities appeared first on Blockonomi.
