Hesty is a transparent and secure marketplace for real estate projects that aims to democratize real estate investment. Now everyone can invest in real estate and earn from it! Hesty will use BASE Blockchain to receive investments and issue property tokens that are representations of shares of a fund that owns the property. All the operations in the smart contracts will be done with EURC (EURO CIRCLE) that is MiCA regulated.
In order to keep the platform operating Hesty charges two types of fees that are described below.
Fees Charged By Hesty: - Investment Fee: a % that users pay when they invest. For example, if a user invests 2000€ in a property a 3% fee is charged meaning that the user nees to pay 2000 + (2000 * 0.03) = 2060€ - Owners Fee: a % of the overall funds raised For example, if a property owner raises 1.000.000€ a 10% fee is charged meaning that the property owner will receive 900.000€ and Hesty will receive 100.000€
In addition, a referral fee may be charged but this only happens when a user was referenced by another user. In this case the fee is calculated and send to the ReferralSystem Contract.
Fees are not immediately charged because in the case the threshhold is not reached for the raise all funds must be able to be claimed back by investors including all the fees charged.
NOTE: All these fees can change in the future.
Property Owner/Manager - Company or individual that is raising funds to develop the real estate project
A very simple smart contract that stores all the Hesty Smart Contracts constants.
TokenFactory is a smart contract that manages the issuance of tokens that are representatives of
properties on sale in the Hesty platform.
By calling createProperty function property owners will issue a new token with a fixed supply
that are representative of shares of a fund that owns the property.
At the beginning all the tokens are stores in this Token Factory contract until someone buys them.
Dedicated Smart Contract that is responsible to manage funds and operations done off chain. Due to regulatory reasons we can never have the control of move funds directly, so we need to use a custodian that receives FIAT currency EUR and converts it to EURC. Also, due to regulatory reasons and in accordance with our communications with the custodian we partner with they must always send the funds that they have in custody to the same wallet because that is the only way that automatically can ensure that the receiver of the funds is safe under AML and KYC regulations. Hesty router will be the contract that will receive every transfer made from our custodian to our smart contracts. After the custodian sends funds it is the responsability of Hesty to reflect off chain operations on chain by calling this contract functions. Unfortanely, custodian can make this calls when they send funds. For example, there is an investment of 2.000€ in a property made with EUR (FIAT). Hesty admins should call the function offChainBuyTokens in order to allocate the property tokens to the respective user wallet that invested with FIAT. This synchronization between onchain and offchain for security reasons is not automatic therefore it may happen that an offchain investment is performed at the same time as an onchain investment and a property may be oversubscribed. In this case, a FIFO rule applies and if the onchain transaction was the last one to occur then it is reverted by admins with ´revertUserBuyTokens´ function.
Hesty is a smart contract that manages the access control of users doing certain operations.
There are 5 roles:
- Admin: Controls all the important business logic functions
- BlackList Manager: Controls blacklisting
- Funds Manager: Controls funds in Hesty Router
- KYC Manager: Controls KYC related tasks
- Pauser Manager: Controls All contracts pause and individual property tokens pauses
The token that represents the shares of the company that owns the property. All the supply is minted when the token is deployed and therefore there is no way to increase token supply and the only way to burn supply is send tokens to a burner address.
This contract keeps track of the all time dividends and revenue distributed to the property token holders and the users claimed amounts.
This token overrides transferFrom and transfer functions in order to implement
a claim of the dividends until that moment accrued by token holders that will
be part of the transfer
Stores the number of referral and all the related referral revenue a user has.
To use PropertyFactory, you will need an Web3 wallet and some tokens to pay for transaction fees. You can interact with the contract using a tool like Metamask.
- Node.js v12.18.3 or later
- Hardhat v2.6.2 or later
- Ethers.js v5.4.5 or later
- Chai v4.3.4 or later
ROPSTEN_PRIVATE_KEY=
BSC_TESTNET_API_KEY=
L2ETHERSCAN=
COINMARKETCAP_API_KEY=
- Clone the repository:
git clone ${REPO_URL} - Install dependencies:
npm install - Compile the contracts:
npx hardhat compile
- Deploy the contract:
npx hardhat run scripts/deploy.js --network polygon-mumbai - Create a new property:
const tokenId = await tokenFactory.createProperty(amount, tokenPrice, threshold, payType, paymentToken, revenueToken, name, symbol, admin) - Buy Property Tokens:
await tokenFactory.buyTokens(address buyer, propertyId, amount, referral)
##Faucets
Due to the fact that the smart contracts will be deployed in Base Blockchain and in the future in equivalent blockchains like Avalanche, Arbitrum, Optimism and others, some optimiztions were not adopted in order to increase code legibility and lower code complexity:
- Uint256 is more efficient than using booleans, even more if it is used 1 for true and 2 for false. This inefficiency was largely reduced in recent solidity versions but still is more efficient to use uint256. Hesty Smart contracts use booleans even though it slightly less efficient.
- Get the coverage:
npx hardhat docgen
- Get the coverage:
npx hardhat coverage
- Run the tests:
npx hardhat test
- A flow where all the investments are made onchain. The property is created, then the users invest EURC in the property and get a representative back. The raise is completed and distribution of rewards is made through property token holders that can claim those rewards everytime they transfer tokens or through a claim function in the property token.
- The same flow as 1, but investments are done onchain and offchain. The offchain investments are made through FIAT and therefore Hesty admins need to call a offchainBuyTokens function in router to issue property tokens to buyers.
- Same as flow 1 but the raise fails and therefore the users need to recover their investment.
- Same as 3 but the investments are made both onchain and offchain
- Test a general pause of all contracts to check if there are any actions that can be made by users
- Check if platform earns the 3% from investments, the 10% from all the raised amount and if referrals earned the 1% fee