LABS Group AMA Recap

LABS Group AMA Recap
LABS Group AMA Recap
Cryptodiffer Team
Hello, everyone!😁 We are glad to meet here Yuen Wong, CEO of LABS Group, (@Yuen_Wong)
Hi all, Thanks for having me..✋😀
Yuen Wong
Yuen Wong
LABS Group AMA Recap
Cryptodiffer Team
Welcome Yuen, thank you for taking your time today! Let`s start from the introduction questions! Q1: Can you introduce yourself and share your background to our community?
My name is Yuen, and I'm the founder and CEO of LABS  Group, which is a digitized real estate investment ecosystem powered by blockchain. 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 partner doing protect collaboration. This has allowed me to learn what makes or breaks a blockchain project.
Yuen Wong
Yuen Wong
LABS Group AMA Recap
Cryptodiffer Team
Great, thanks for sharing! Let's talk more about Labs! Q2: Can you briefly tell us what is LABS Group in 3-5 sentences?
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 2. Secondary trading platform: Digitised Real Estate Exchange, regulated and able to target retail investors. 3. Auxiliary DeFi platforms: staking pools, collaterised lending platform and integration of DEX.  Plus use of NFT on property. 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). LABS ecosystem is a unique hybrid system. While the property tokens within its ecosystem would be ST, LABS tokens utility tokens. While the exchange part is centralized, the collateralized lending part is decentralized. LABS is currently listed on Uniswap.And we are ranked number 1 pm dextool currently
Yuen Wong
Yuen Wong
LABS Group AMA Recap
Cryptodiffer Team
Awesome, thank you for an answer The last question from us before we start community questions round! Q3: Let`s now talk about the milestones you have achieved so far and about your upcoming plans?
Well, obviously we have completed our fund raising, very successfully (twice we crashed Duckstarter servers but they had been professionals in providing the resolutions)..And now we are listed on Uniswap Despite some hiccups when we went listed, the response was really good and we went 10 to 50X. Yet we think we can still really grow. We started in 2018 and hers the platform we went on to build, and it would be live soon: https://www.youtube.com/watch?v=5z910KG0DIU&ab_channel=LABSGroup Hi all LABsters, Time to review part of LABS Digitised Real Estate Ecosystem: the issuance and crowdfunding platform powered by Blockchain! Live soon... And we will be announcing our approval from the government to launch our digitised real estate exchange which can target retail investors. I think this is a game changer. Btw, we are giving away a property ...a resort unit in phuket...And you still have a last chance to join in...live lucky draw and of March
Yuen Wong
Yuen Wong
We are also exploring to launch the first NFT on property together with our strategic partner Enjin, which is the largest NFT project. https://twitter.com/labsgroupio/status/1370300450709340160 XIN (NYSE listed) is a property list that owns more than 1bn USD worth of a real estate. That's a lot of properties for digitization I guess. ....And continue to form great partnership...
Yuen Wong
Yuen Wong
LABS Group AMA Recap
Cryptodiffer Team
Thank you for such detailed and interesting answers! It is time to move to the community questions part.
LABS Group AMA Recap
Cryptodiffer Community
-Under which jurisdiction can LABS operate a real estate securities exchange? Are you fully licensed?   -How has the use of blockchain technology overcome the challenges of traditional transaction of real estate assets?
It will be SEA jurisdiction and what's so special here is that we are allowed to target global retail investors except USA ones. This will be the game changer. Basically by digitizing real estate, we solve it into small fractions just like how you can buy small parts of btc. And using blockchain, we lower the transactional costs as well as singing the biggest challenge on real estate industry, which is illiquidity.
Yuen Wong
Yuen Wong
LABS Group AMA Recap
Cryptodiffer Community
On moving forward through your roadmap, what are your most important next priorities? Does your team have enough fundamental (Funds, Community, ect) to achieve those milestones?
The next step would be perfect our UI/UX and user interface of pure platform which was showcased above. We need to make blockchain platform non blockchain for end users, meaning that they don't need to understand the technology driving it. And then of coz we need to impaired on board projects, which we already have a few property developers as partners. See above in XIN Group and we have several more, including KC Securities VIP Thailand, Oriental Pearls and GCA We have raised enough funds by completing a 6.45M round, and our token price has been very strong. LABS community is very active too. You can check it out here: https://t.me/labsgroupio
Yuen Wong
Yuen Wong
LABS Group AMA Recap
Cryptodiffer Community
In my opinion, only getting investors and holders are not enough. A project needs to solve a real world issue or a real world problem. What plans do Labs have plans with them?
LABS is a Digital Real Estate Investment Ecosystem, a business that has been started since 2018 with the aim of disrupting the real estate investment world by changing the way people invest in it. LABS will achieve this by resolving the 3 Main pain points on the industry: 1. Illiquidity 2. High initial investment costs 3. High transactional costs 4. Difficulty in performing cross border property investment  management And LABS will solve then they blockchain with our ecosystem : An token issuance and a real estate crowdfunding platform. An exchange for which we have obtained a digital security exchange license Advisory and Management services To strengthen the ecosystem, make it attractive and complete, we incorporated DeFi solutions with staking pools, Dex and lending platforms powered by a strong token economy and G.A.I.N.S. model.
Yuen Wong
Yuen Wong
LABS Group AMA Recap
Cryptodiffer Community
What features/improvements are you planning to add to your products in the near future?
We are working on integrating the defi components, meaning collaterised lending platform. With this, property token investors can stake their tokens and borrow against them. Then they can reinvest, and hence obtaining leveraging just like the traditional mortgaging. However, this one here you can get it done instantly, and need to fill in many forms, wait at banks and wait for months to have it approved. Then we are working on NFT on property. So using NFT here has got different usage case than just digitising the entire hotel. Becoz: 1. Income of the rooms are directly related to the NFT 2. Some might prefer to buy rooms than just Tokens of the entire hotel 3. NFT can be traded on markets such as Opensea 4. Individual rooms would have individual historical performance that more directly represents the value of the NFT 5. You can easier design time sharing onto that NFT, even generate QR codes for the room access etc
Yuen Wong
Yuen Wong
LABS Group AMA Recap
Cryptodiffer Community
What can I use $LABS for in LABS ecosystem? What are the benefits of holding it in the long run?
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.
Yuen Wong
Yuen Wong
LABS Group AMA Recap
Cryptodiffer Community
In my opinion, I think LABS will be the first project to introduce the G.A.I.N.S model (Governance, Access, Incentives, Nomination, Staking) on its utility token. This is a very strong combination. So what do you think this strong combination will bring to your LABS and its users?
Well if you study at each of the LABS token features, you will find out that each part encourages user involvement and reward them accordingly. Community power and engagement will drive LABS ecosystem forward.
Yuen Wong
Yuen Wong
LABS Group AMA Recap
Cryptodiffer Community
One of the main problems with smart contracts today is that there is a very high risk of bugs that allow users to lose funds and incur significant losses. Can you tell us about the solutions that LABS offers?
LABS smart contract has been audited by Slowmist, the top blockchain security expert in China.
Yuen Wong
Yuen Wong
LABS Group AMA Recap
Cryptodiffer Community
What was that vision when it first emerged as an idea? Are there any special prototypes or upcoming LABS updates that you want to show/share with us?
LABS vision is to change the way people invest in real estate. We want to be that game changer, and ensure financial fair play to everyday people like you and me. We don't want to see the best asset class and its rewards only reserved to the privileged. We want to encourage financial inclusion. With just an internet connection and a digital wallet, you can invest in global quality properties. The second part had been addressed before.thanks
Yuen Wong
Yuen Wong
LABS Group AMA Recap
Cryptodiffer Community
Could you tell whаt is the progress of development аnd if you have some serious pаrtnerships?
As mentioned, you can view our platform demo here: https://www.youtube.com/watch?v=5z910KG0DIU&ab_channel=LABSGroup Hi all LABsters, Time to review part of LABS Digitised Real Estate Ecosystem: the issuance and crowdfunding platform powered by Blockchain! Live soon... Our partnership includes Centrifuge (bringing real world assets on chain and provide financing), Enjin (working with them to launch nft on property), Polkacover(insurance in defi )and several more coming... Plus all the property developers as partners...including Xin Group which is NYSE listed and owns more than 1bn worth of property
Yuen Wong
Yuen Wong
LABS Group AMA Recap
Cryptodiffer Community
Talented and experienced team are the core for LABS. How many people behind the core LABS team? and where we can find the information about them? Does the Team also have background and experience in real estate?
First of all, our team is chaired by Mahesh Harilela, a core member of the renowned family in Hong Kong, which privately owns 19 4 and 5 stars hotels. And we have property listcos as our strategic partners. On blockchain side, we haveb to DeFi, centrifuge, enjin as project partners, and boxmining as our project advisor. LABS has been in this since 2018 showing unwavering persistence. We have also been building our platform which is now ready for show in days time.
Yuen Wong
Yuen Wong
LABS Group AMA Recap
Cryptodiffer Community
Q. When did LABS decide to roll out LABS Token Public Sale? Can you tell me how to participate in LABS public sale?
LABS started in 2018, and we kept perfecting the team, the concept, the model and the platform. We are listed on Uniswap now under the ticker LABS and we are currently ranked number 1 on dextools.
Yuen Wong
Yuen Wong
LABS Group AMA Recap
Cryptodiffer Community
How do you compare with traditional investments, the speed and cost when users use LABS? Will investing on the LABS platform be safer than in the traditional form, will crypto assets be thoroughly checked for legal information as well as potential risks?
Well the last innovation in real estate is the REIT. Now lol at this...REITs versus LABS (Digitised Real Estate Investment Ecosystem): Can any investor invest in REITs? Can REITs be invested with 100 USD easily? Can REITs be invested even without a bank account? Can REITs returns be distributed directly into your wallets? Can one invest in global REITs easily? Can REITs be traded easily and at a low costs? Can REITs be staked to borrow digital currencies to reinvest and hence leveraging? Can REITs give you the Liquidity you want? Can REITs operate as a low cost investment vehicle? Answer: Mostly not but LABS can. 😌 We will of course conduct all due diligence and do legal work as well to protect the best interest of our users.
Yuen Wong
Yuen Wong
LABS Group AMA Recap
Cryptodiffer Community
Is LABS GROUP planning to list on other cryptocurrency exchanges?
LABS is waiting for the best exchanges to come to us. Please tell thern to do so😌
Yuen Wong
Yuen Wong
LABS Group AMA Recap
Cryptodiffer Community
✅ Labs has limit of the countries that can operate with the real estate ? Is fully open wide?
It is basically wide open to global projects, just not the way zones please😌
Yuen Wong
Yuen Wong
LABS Group AMA Recap
Cryptodiffer Community
Is the $LABS an ERC-20 token? What blockchain will you work with? What should you do to increase $LABS demand?
Yes it is ERC20. We will work on polkadot thru Rio chain, which will provide us with low cost and seamless cross chain transactions https://youtu.be/CDz7ZBiHZLM It is conducted in English. Just skip the host introduction part and the rest is in English with subtitles. Watch this and you can find the details. 🚨GAINS Interview with Yuen Wong, CEO of LABS Group. LABS Group is the first end-to-end ecosystem supporting the real estate market which is worth 228 Trillion USD.
Yuen Wong
Yuen Wong
LABS Group AMA Recap
Cryptodiffer Team
Perfect thank you for your time @Yuen_Wong:)
LABS Group AMA Recap
Cryptodiffer Team
appreciate all the great answers Thank you everyone who took part 🙌