PropyKeys Integrates Chainlink Automation to Power Staking Rewards Distribution

We’re excited to announce that PropyKeys has successfully integrated Chainlink Automation, the industry-standard smart contract automation service, and that it is now live on the Base mainnet. Leveraging Chainlink Automation allows us to securely and efficiently trigger the distribution of staking rewards on our platform, drastically improving the user experience making it more seamless and secure than ever.

Using Chainlink Automation to power our staking rewards distribution function ensures the most reliable Web3 automation service possible. The Chainlink Automation Network is operated by the same pool of time-tested, provably reliable node operators that currently help secure tens of billions of dollars in the DeFi ecosystem, even during record levels of network congestion and extreme volatility. Chainlink’s proven infrastructure helps ensure that every staking rewards distribution is executed on time in a trust-minimized manner, giving users additional guarantees that it will function exactly as intended.

PropyKeys is committed to bringing one million home addresses onchain by 2025 and to ensuring the highest standard of user experience. We have been pioneering onchain transactions since 2017, including the introduction of a groundbreaking decentralized title registry and an escrow settlement protocol for securely storing land records and facilitating transactions onchain.

Chainlink Automation is a decentralized service purpose-built to manage tasks on behalf of smart contracts. Chainlink Automation leverages decentralized, hyper-reliable, and economically incentivized automation nodes to wake up smart contracts when they need to perform critical on-chain functions, which usually take place at regular time intervals (e.g., every day at the same time) or based on external events (e.g., when an asset hits a specific price).

Some of the notable features of Chainlink Automation include:

• Highly reliable, performant, and decentralized automation — Chainlink Automation ensures transactions are identified and confirmed quickly even during periods of heavy network congestion by leveraging Chainlink’s battle-tested transaction manager.
• Time-tested infrastructure that helps save costs — Chainlink Automation enables us to eliminate in-house automation infrastructure costs, reduce resources spent on DevOps, and increase speed and efficiency.
• Built to enable faster scaling — Chainlink Automation enables us to scale faster and avoid the challenges that come with building and maintaining the infrastructure needed to reliably automate across multiple chains.
• Unlocks new use cases — With smart contract automation, we’re able to explore new use cases and unlock capabilities that would otherwise not have been possible.

“We’re excited to leverage Chainlink’s highly secure, reliable, and decentralized automation service. Chainlink is industry-standard tokenized asset infrastructure, which is why using it to power our staking rewards distribution mechanism was an obvious choice,” said Andrew Zapo, COO of PropyKeys.

About PropyKeys

PropyKeys, a gamified platform within the Propy ecosystem, is redefining real estate ownership through blockchain technology. Officially launched in March 2024 on Base, PropyKeys allows users to mint digital addresses and deeds for real-world properties. By enabling the digital representation of property addresses and offering a secure, blockchain-based platform for property deed storage, PropyKeys aims to make real estate ownership more accessible, secure, and engaging. With features like AI-generated landmark NFT minting and a novel staking mechanism, PropyKeys is setting new standards in how properties are owned, traded, and verified in the digital age.

About Chainlink

Chainlink is the industry-standard decentralized computing platform powering the verifiable web. Chainlink has enabled over $10 trillion in transaction value by providing financial institutions, startups, and developers worldwide with access to real-world data, offchain computation, and secure cross-chain interoperability across any blockchain. Chainlink powers verifiable applications and high-integrity markets for banking, DeFi, global trade, gaming, and other major sectors.

Learn more about Chainlink by visiting chain.link or reading the developer documentation at docs.chain.link.