Aqaro's Journey: Navigating Setbacks and Forging Ahead
Unfortunately, Aqaro's application for the Arbitrum grant has been rejected, leaving us somewhat disheartened. We had hoped for more clarity regarding the rejection, but regrettably, the response lacked specific reasons. Their explanation was that our project didn't align with their current grant categories, although we believe Aqaro fits well within three of them: DeFi, NFTs, and DAO. It's disheartening to have invested substantial effort without receiving a clear rationale for the rejection.
We had requested a significant amount of funding, totaling $13,583,000, with options to repay a substantial portion once our platform becomes operational, resulting in a net grant amount of $2,983,000. We believed this was a reasonable sum considering our ambitious plans for Aqaro.
In a world grappling with a global housing crisis characterized by soaring housing prices and exorbitant mortgage interest rates, it's disappointing to see a potential solution dismissed without adequate explanation.
Unfortunately, securing funding is crucial for Aqaro's continued development. While we've made efforts to promote our decentralized solution through regular discussions and spreading the word, it appears that the world may not yet be fully prepared for decentralized real estate.
Aqaro in a Nutshell
Aqaro is envisioned as a fully decentralized solution, overseen by the investors' DAO. We utilize investor funds to provide mortgages at competitive interest rates. In return, we distribute 40% of our revenue to investors, enabling them to earn an annual yield of 8%.
Investing in business properties can be cost-prohibitive, with many starting at $10,000 to $50,000 and beyond. Our fractionalization of business properties through NFTs aims to make such investments more accessible, ensuring that everyone can benefit from these opportunities. Unfortunately, it seems that the world may not be ready for this innovative approach just yet.
What's next?
While this rejection is a setback, it's far from the end of Aqaro. We remain committed to our vision and will continue our efforts to launch the platform. For now, we're exploring alternative avenues, and I'm actively seeking employment to secure the resources needed for another attempt in the future.