Glossary
Tokenized real estate, term by term
The basics
Tokenization
Tokenization is the process of representing ownership rights in a real-world asset, such as a property, as digital tokens on a blockchain.
Instead of one deed held by one owner, a tokenized property can be held by many investors, each owning a fraction that can be transferred on-chain.
Tokenized real estate
Tokenized real estate is real property whose ownership has been legally structured so that fractions of it can be held and traded as blockchain tokens.
Compare with a REIT in our tokenized real estate vs REITs guide.
Fractional ownership
Fractional ownership means holding a portion of an asset rather than the whole. In Oceanpoint’s case, holding some of a property’s tokens rather than the entire building.
The tokens
BSPT (Blocksquare Property Token)
A BSPT is an ERC-20 token representing fractional ownership in one specific real property, issued through Blocksquare’s tokenization infrastructure; each property is divided into up to 100,000 tokens.
Per-property symbols follow the format BSPT-XYZ-##. Holding BSPTs makes you eligible for that property's rental income distributions. Buying requires KYC on a marketplace.
BST (Blocksquare Token)
BST is the governance and utility token of the Blocksquare ecosystem, an ERC-20 deployed on Ethereum in 2018 with a fixed total supply of 100,000,000.
Contract: 0x509A38b7a1cC0dcd83Aa9d06214663D9eC7c7F4a
sBST (staked BST)
sBST is the token received for staking BST in Oceanpoint’s main governance pool; it represents a share of the pool, accrues rewards, and carries voting power over protocol proposals.
POINT (Oceanpoint Token)
POINT is Oceanpoint’s upcoming liquidity aggregator token, an ERC-20 with unlimited supply, minted and burned only against deposits into the protocol treasury. POINT is not a stablecoin.
POINT is designed with flatcoin-like qualities: at the outset 1 POINT is redeemable for $1 of deposited value, tracking the net asset value of the treasury rather than a fiat peg. It has not launched yet; see the whitepaper for the phased roadmap.
Flatcoin
A flatcoin is a token whose value tracks a basket of real-world value, such as inflation or asset prices, rather than being pegged 1:1 to a fiat currency like a stablecoin.
The protocol
Oceanpoint Protocol
Oceanpoint is the liquidity engine for tokenized real estate, Blocksquare’s DeFi protocol, a set of smart contracts on Ethereum forming an open-end DAO that connects tokenized properties to staking, liquidity, and governance.
Governance pool
The governance pool is where BST holders stake their tokens to receive sBST, earning a share of protocol rewards and the right to vote on proposals.
Asset pool
Asset pools let BSPT holders stake their property tokens: stakers redirect their rental income stream to the DAO treasury and receive BST rewards in return.
Property issuers have a dedicated pool (staking 10% of the property's tokens with a 6-month lock); community holders use the community pool with a 1-month lock.
Liquidity pool
Liquidity pools reward users who provide trading liquidity: staking Uniswap BST:ETH LP tokens earns BST from the protocol’s monthly reward allocation.
OIP (Oceanpoint Improvement Proposal)
An OIP is a governance proposal for changing the Oceanpoint protocol (reward splits, pools, or parameters), voted on by sBST holders on Snapshot.
Buyback & burn
Buyback & burn is the mechanism by which the DAO treasury uses collected rental revenues to buy BST on the open market and permanently remove it from circulation.
The ecosystem
Blocksquare
Blocksquare d.o.o. is a Ljubljana-based company that builds tokenization infrastructure for the real estate industry: the smart contracts and white-label marketplace software that Oceanpoint and its partner marketplaces run on.
Certified Partner
A Certified Partner is a marketplace operator licensed to run a white-label tokenized real estate marketplace on Blocksquare’s infrastructure, typically serving a specific region or property niche.
Marketplace
A marketplace is a platform where tokenized properties are listed and sold: the flagship Oceanpoint Marketplace, or one of the regional marketplaces run by Certified Partners.
Regional Hub
A Regional Hub is a local group of Oceanpoint ambassadors (four members plus a chair) that promotes tokenized real estate in its region and shares a quarterly BST allocation based on contribution points.
TVL (Total Value Locked)
TVL is the total value of assets deposited in a DeFi protocol: for Oceanpoint, the combined value of staked BST, staked BSPTs, and liquidity positions.