Date : 30th June 2021
Host : HunterX & GemFlair
Guest: LABS TEAM (Yuen-CEO)
Hello! Spykefastians & Blockchain Enthusiastic!
We recently hosted an AMA with LABS, on 30 June at 1PM UTC. So here we are up with the AMA transcript, for those who missed the live session, this post will be a saver & a feeder of knowledge for them.
INTRODUCTORY QUESTIONS — BY SPYKEFAST TEAM.
HunterX | Spykefast (Twitter ID — @realsch1) — Q1. Kindly give brief introduction about yourself, Crypto experience and your role at #Labs Project Project?
Yuen — Hello all, thanks for having me here!
My name is Yuen, and I’m the founder and CEO of LABS Group, which is a digitised real estate investment ecosystem powered by blockchain. We started exploring this business in late 2018.
My background has always been in blockchain and real estate, and that’s why I’m doing this great project with a great team!
Prior to launching LABS, I was Managing Partner for a UK property company and I’m still involved at times in Bitmart exchange as a managing partner doing project collaboration. This allows me to learn what makes or breaks a blockchain project.
Lastly, you can follow us here:
https://linktr.ee/labsgroupio
HunterX | Spykefast (Twitter ID — @realsch1) — Well real estate is one area which keeps everyone fascinated.
Yuen — Yes, the biggest asset class
Certainly worth disrupting😌
HunterX | Spykefast (Twitter ID — @realsch1) — Yep.. We all know the immense potential of Labs Group project.
And the great beginning so far.
Yuen — Yes, and we are introducing NFT on real estate next month, July
HunterX | Spykefast (Twitter ID — @realsch1) — This is something worth the wait.
Yuen — We will get there together eventually, I’m sure.
HunterX | Spykefast (Twitter ID — @realsch1) — Q2. Let’s talk in detail about #Labs Group project What are the main features of the project?
Yuen — LABS, which stands for Liquifying Asset Backed Securities, is a Digitised Real Estate Investment Ecosystem.
LABS’ vision is to make real estate for everyone by changing the way people invest in real estate thru digitalisation, thereby solving the high involvement and transactional costs as well as illiquidity.
The blockchain powered ecosystem is comprised of:
1. Primary trading platform: the token issuance and Crowdfunding platform and trading platform
2. Auxiliary DeFi platforms: staking pools, collaterised lending platform and integration of DEX. Plus use of NFT on property.
3. Issuance of NFT on resorts and hotels as well as on property funds.
LABS tokens are utility tokens with the G.A.I.N.S. model, namely governance, access (to projects), Incentives, nomination (rights) and staking (for rewards).
HunterX | Spykefast (Twitter ID — @realsch1) — Wisely named. 👍👍👍
Yuen — We are currently focusing on number 3 item, as mentioned, will be launched in mid July.
HunterX | Spykefast (Twitter ID — @realsch1) — https://drive.google.com/file/d/1rfaa7CCmWXE3eCbZPwoetK_8RMzo3XVm/view?usp=sharing
80 property proposals in 3 months??? Labs is going to be a game changer. Btw for those who don’t know this is Labs Group Chairman Mahesh Harilela
Guys.. Hear this.. And this tell you.. How the response has been so far.
Yuen — Yes this is our chairman and he is from the Hong Kong renowned Harilela Family, which privately owns 19 hotels.
So he certainly understands property and hospitality business😌
HunterX | Spykefast (Twitter ID — @realsch1) — Can you throw some light regarding the Red Fund. ( REDF )
Yuen — Yes. I’m so delighted to share this ground breaking project.
The world’s first community powered and owned NFT fractionalised Resort.
Take a look here: https://gravityresortskk.labsgroup.io/
HunterX | Spykefast (Twitter ID — @realsch1) — Amazing stuff 👌👌👌
Yuen — This resort has a glamping concept, which means glamorous camping. Aka luxurious camping.
LABS group will issue 365 NFT to fractionalise the entire resort and rub an auction on all of them with our partner Refinable in mid July.
The NFT has the following features:
That means, LABS is bringing resort and hotel investment deals directly to everyday investors, plus enjoyment too.
HunterX | Spykefast (Twitter ID — @realsch1) — Indeed. These NFTs auction would be an an event to watch out. Interested members of SpykeFast community to take note of this.
Yuen — For the LABS RED Fund, RED is short for real estate digitisation.
It is a fund we set up so that it can be used to acquire the resort, manage the due diligence, so the marketing, and manage the ensue campaign.
Once the NFT are sold out, the fund contributors can then exit with premiums. If not, it is stl backed by 90 years of profit sharing of the resort
You can read more about the LABS RED Fund here: http://contributors.labsgroup.io
HunterX | Spykefast (Twitter ID — @realsch1) — Q3. What are the major utilities of holding the #Labs Group native token $LABS? How does team plan to enhance its further value so as to attract users onboard?
Yuen — Sure. Let me do it now😌
LABS TOKEN MODEL:
LABS tokens are Ecosystem tokens (Utility tokens) with our special G.A.I.N.S. model :
G.A.I.N.S model:
…Governance
Our token holders can vote on important matters of interests.
…Access
LABS token holders can get early access to real estate projects that the ecosystem introduces.
…Incentives
LABS token holders can get incentives should they decide to get involved in our projects on our ecosystem.
…Nomination
LABS token holders can nominate projects they wish to be launched on our platforms and be rewarded.
…Staking (for rewards)
LABS token holders can stake the tokens to get rewards. LABS will use its governed 80 percent profit generated by the LABS ecosystem to buy back LABS tokens from the open market in a quarterly manner, and distribute to the staking pool in accordance to the size and days staked in the pool.
By buying back from open markets with the ecosystem profits, the token price would be boosted and holders will be rewarded when the ecosystem gets even bigger traction.
This unique mechanism will address the needs of short term investors and mid long terms holders.
So in our coming NFT project,, LABS will generate profit from being the fund manager, as well as being the NFT project manager, plus being returns on the NFT transactions.
All these profits will be considered LABS ecosystem profits and used to buy back the LABS tokens from open markets and then distribute to the LABS token stakers.
HunterX | Spykefast (Twitter ID — @realsch1) — Nicely explained.
$LABS got some great utilities to speak about.
HunterX | Spykefast (Twitter ID — @realsch1) — Q4. What are the major partnerships done so far? How have these played a major role in Labs Group project development? Seen some amazing partnerships with great projects like Enjin, Polygon and others like Refinable.. And many more
Yuen — Yes, LABS embraces the spirit of blockchain and hence believes in partnerships.
With Polygon, we are working with them on building our multi chain crowdfunding platform, which has been successfully integrated. We are also building a bridge with Matic so that staking and transferring and transacting will be seamless and low costs.
With Enjin, we will later work with them to have our NFT listed with them thru utilising the bridge.
With Refinable, we are doing our first NFT auction there.
With GCA, a Hong Kong listco precluding professional services, they help us on the due diligence on real estate projects, so that investors can have the peace of mind.
HunterX | Spykefast (Twitter ID — @realsch1) — Amazing lineup of meaningful partnerships.. More to come 💪💪
Yuen — Of coz, we also have Gravity Resort, the unique concept resort developer and manager, and with then we decide to go ambitious in resort and hotel investment fractionalisation and bring the deals to you all.
You can view the valuation report here.
HunterX | Spykefast (Twitter ID — @realsch1) — Definitely will give this a read. Thanks for the share
Yuen — More interesting pics above
HunterX | Spykefast (Twitter ID — @realsch1) — Really interesting ones.
HunterX | Spykefast (Twitter ID — @realsch1) — Q5. How has the roadmap development shaped up so far? What were the major achievements so far? What major events can we expect in the 2021 #Labs Group Development Roadmap?
Yuen — We will be updating and release our revised roadmap.
Some things have been happening much faster such as the entire NFT Resort deal, coming in mid July.
We are also working on the collaterised lending platform so that the nft holders can stake the NFT and borrow against then to gain financial leveraging.
So there you go, a professional property investors on blockchain.
Yuen — The LABS RED fund we talked about
Sparks real interest with Lockdown situation still existing in many countries.
Has Covid really affected teams path of development so far?
HunterX | Spykefast (Twitter ID — @realsch1) — Yes, in fact now is the best time to discuss deals with the resort and hotel developers, and hence we want to push this forward quick.
LIVE AMA QUESTIONS.
Christopher — Typically, investors buy tokens that are likely to increase in price in the future. I saw that, total supply of $LABS is huge.
Yuen — I think many investors don’t really understand the fact that total supply is just one part of the entire equation.
You can have 1 million or 1 billion that doesn’t change things unless you consider other factors.
Once should look at the overall market cap and what values a project would bring.
For LABS, we would make real estate investment more liquid and more easily involved in. Hence we better the way things are done and values are brought by the efficiency gained.
Eldon Fontenot — What are your major goals to achieve in the next 3–4 years? And What are your plans to expand & gain more adoption?
Yuen — To bring more real estate investment deals for everyday investors and encourage financial inclusion.
And that even everyday investors can invest like a professional, and with peace of mind as LABS will assist on the due diligence part.
For Now — Recently LABS has partnered with Refinable. What role will Refinable play in LABS with this new partnership? What will be the piIlars on which they will work together to achieve important milestones for both pIatforms?
Yuen — LABS was looking for good partner to mint and launch the NFT for our NFT fractionalised resort.
We want to resolve two issues, to be able to issue on al low cost blockchain and to be able to be pegged to USDT since we are in real estate which is tied closely to the traditional finance.
Refinable can do both. They are on BSC and hence low cost, and they have decided to travel an extra mile by having the price in usdt.
We are lucky to have them as partner.
Vince — Hey Yuen don’t you think that $LABS holders really need an inventive to HODL? (the S of G.A.I.N.S.) Something like naked staking? Why are the pools still closed, when do you plan to open them again?
Yuen — Yes single side staking will be opened soon once we got the Matic network bridge tested and all ready to go.
Stay tuned.
Khoa Pug — What are your token listing plans? What will you do in the future so that your token can list other exchanges and moreover significantly increase trading volume?
Yuen — LABS tokens ate already listed on Kucoin, Gate, Bitmart and uniswap
We are in talks with one more big exchange recently and hopefully have great news to share on that soon.
CLOSING REMARKS
Yuen — Alright SpykeFast community, I got to go for another meeting.
Cheers and see you all soon and looking forward to your support.
Remember our vision in this coming project:
Making Resort and hotel investment and enjoyment possible for everyone.
HunterX | Spykefast (Twitter ID — @realsch1) — Thanks for the AMA
It’s was great having you here. 🙏 @Yuen_Wong_LABS
Have a great day.
Khoa Pug — Great AMA
1)Website : https://labsgroup.io/
2) Telegram : https://t.me/labsgroupio
3) Twitter : https://twitter.com/labsgroupio
4) Spykefast TG : https://t.me/spykefastofficial
Contact Spykefast Group (TG Members — @realsch & @Gem_Flair) for promotions and AMA!!
