- PropyKeys integrates Chainlink Automation to optimize staking reward distribution, improving security and efficiency.
- PropyKeys aims to digitize one million home addresses by 2025, improving real estate transactions on blockchain.
PropyKeys has integrated Chainlink Automation to manage the distribution of staking rewards on its platform, which is already operational on Base’s core network. This integration allows PropyKeys to securely and efficiently automate the delivery of rewards to its users, thus improving their experience on the platform by making it more direct and secure.
.@PropyKeys—a project bringing real estate onchain via NFT addresses and landmarks—has integrated #Chainlink Automation on @base to help distribute staking rewards.
Why tokenization projects are choosing Chainlink ⬇️https://t.co/yaFsP1akN2
— Chainlink (@chainlink) April 1, 2024
The implementation of Chainlink Automation by PropyKeys guarantees an exceptionally dependable Web3 automation service. This network functions with a set of nodes renowned for their proven reliability and capacity to safeguard vast sums in the DeFi ecosystem, effectively managing even through times of significant network traffic and intense market fluctuations.
Chainlink’s infrastructure ensures that the distribution of staking rewards is executed in a timely manner that minimizes the need for trust, providing users with additional assurances that it will work as planned.
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PropyKeys aims to digitize one million home addresses by 2025 and is committed to maintaining the highest standard of user experience. Since 2017, the platform has pioneered onchain transactions, including the introduction of a decentralized title registry and escrow settlement protocol to securely store land records and facilitate onchain transactions.
Chainlink Automation offers a decentralized solution tailored to manage operations for smart contracts. Utilizing a network of dependable and financially motivated automation nodes, this service activates smart contracts to perform essential onchain activities.
These activities are often scheduled at consistent intervals (such as daily at a set time) or are triggered by specific external occurrences (like an asset hitting a predetermined price).
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Andrew Zapo, COO of PropyKeys, mentioned that the decision to use Chainlink Automation to power the staking reward distribution mechanism was evident due to the security, reliability and decentralization of the service. Chainlink is considered industry standard infrastructure for tokenized assets, which reinforces the choice.
PropyKeys, a component of the Propy ecosystem, transforms the real estate sector with blockchain technology. Launched officially in March 2024 on Base, it enables users to create digital addresses and titles for physical properties.
Through the digitalization of property addresses and providing a secure platform on the blockchain for deed storage, PropyKeys aims to enhance the accessibility, security, and appeal of real estate.
With features such as AI-generated milestone NFT minting and an innovative staking mechanism, PropyKeys sets new standards in property ownership, trading and verification in the digital age.
Chainlink (LINK-USD)current price is $17.87 USD, down 1.91% with a decrease of $0.35 since it was last traded. During the day, the price has fluctuated between $17.60 and $18.46.
Chainlink has a 52-week range between $4.98 and $22.83, reflecting its volatility throughout the year.
