Homebase

This Homebase is the real estate firm also known as HomebaseDAO. It has no link to the staff rota app or the UK DIY chain with the same name. Homebase went live on Solana in February 2023. It sold small shares in rental homes as NFTs, and paid rent to holders each month in USDC. It sold two homes in McAllen, Texas that year. We found no later sales. The firm has since moved its main work to HomebaseCRE. That is a software tool that helps real estate sponsors raise money and keep track of the people who back them. The first site is still online, but it looks unchanged since 2023.

How Homebase real estate tokenization works on Solana

Homebase turns one rental home into a set of NFTs. Each NFT is a share of the firm that owns the home. You pay in USDC, and your cut of the rent comes back to your wallet in USDC each month.

The legal side comes first. The Homebase docs say Homebase agrees to buy a home, then sets up a new LLC to hold it. There is one LLC per home. The LLC sells its shares as tokens under Regulation D. That is a US rule that lets a firm sell shares in private, with less paperwork than a public sale.

The tokens use the Metaplex MPLX$0.052-7.2% NFT standard with extra rules built in. A Solana Foundation case study from April 2024 sets out what those rules do. They check that each buyer has passed an ID check. They hold the money in escrow until the sale is done. They also let Homebase freeze, burn or reissue a token. So if you lose your wallet, Homebase can send you a new token. It also means Homebase keeps a hold over tokens that sit in your wallet.

You pay with USDC, the dollar stablecoin from Circle USDC$1.000+0.0%. The docs suggest a Phantom CASH$0.9990.0% wallet. The case study says Coinflow moves money between USDC and your bank. Rent goes out on the 15th of each month, split by how many shares you hold.

HomebaseDAO's tokenized rental homes in McAllen, Texas

Homebase sold two homes, both rental houses in McAllen, Texas, and both in 2023. Those two sales are the whole track record we could find for the tokenized homes.

The first was a three-bed house. The Block reported in late February 2023 that it was split into tokens priced at $100 each.

The Solana Foundation case study says that sale raised $246,800 from 38 buyers in two weeks. Fifteen of them opened their first Solana wallet to take part.

The second house was valued at about $176,000. It sold some three months later, again to 38 buyers.

The case study says about 78% of all the buyers were private people, with the rest being firms or funds.

Sources differ on the smallest amount you could put in. The Homebase site and FAQ say $100 per home. The case study gives a $500 floor, and says most buyers put in $4,000 to $5,000.

HomebaseCRE: the move to real estate syndication software

Homebase now sells software to real estate sponsors. A sponsor is a firm that pools money from many people to buy a building. This kind of pooled deal is called a syndication. The tool is called HomebaseCRE. It gives a sponsor a page to pitch a deal, a login area for backers, online signing, bank payouts and reports.

The shift began early. By April 2024, the Solana Foundation case study said Homebase was selling back-office software to sponsors of commercial deals. Then came a podcast episode dated 5 March 2025 with Domingo Valadez, the co-founder and CEO. Its notes say Homebase had moved from a site for small buyers to a back-end tool for sponsors. They also say the tool handled more than $75 million in assets at that time.

The same notes float a tokenized real estate fund, built on data from the tool. We found no launch of such a fund.

HomebaseCRE plans cost from $100 to $1,200 a month when we checked in October 2026. You pay month by month, and large firms can ask for custom terms. The HomebaseCRE site does not mention Solana, tokens or stablecoins. If you want to hold property on-chain, HomebaseCRE will not give you that.

Who can invest in Homebase, and who it suits

The tokenized homes were built for people in the US who want rent without being a landlord. That includes people new to crypto. They suit you only if you can leave the money alone for at least a year.

The Homebase FAQ says only US buyers can take part. Each sale takes up to 250 accredited buyers, plus up to 35 who are not. Accredited is a US legal label for people above a set level of income or wealth. You must pass an ID check before you buy, and you get a K-1 tax form each year. Homebase runs the house for you and takes a 1% stake in each home it sells.

We found no new sale since 2023, so there may be nothing to buy. HomebaseCRE suits a different reader: a small sponsor team that wants a flat monthly price to manage its backers.

Homebase real estate reviews: risks, lockup and audits

The main risk with Homebase tokens is that they are hard to sell and lean on one firm. You cannot sell at all in the first year. After that, the only buyer the docs name is Homebase.

The one-year lockup comes from Regulation D. Once it ends, the Homebase docs say Homebase will buy your tokens back within 72 hours of a request. You get the market price, less trading fees. The price comes from outside home value firms. There is no open market, so your way out rests on Homebase being willing and able to buy. That matters more now that the firm's main work lies elsewhere. We could not confirm that buybacks still run.

Homebase says each LLC stands alone. If Homebase closed, token holders could vote to pick a new manager or sell the house. That shields the house, but it would take time for dozens of small holders to agree.

We found no public audit of the token code. Homebase lists no program address in the sources we read, so we could not check who can change the code. The power to freeze, burn and reissue tokens is a trade-off built in on purpose. The Homebase X account has also gone quiet. Our check found one post in the two years to October 2026.

Homebase's own risk page adds two more: a sharp fall in house prices, and new US rules for crypto.

Homebase founders and backers

Homebase is run by HomebaseDAO, Inc. Domingo Valadez is co-founder and CEO. He used to work at Google, the March 2025 podcast notes say. Alex Kim is a co-founder too, and The Block quoted him when the first house went on sale in 2023. The Homebase site says Techstars, a startup program, backs the firm. The Solana Foundation case study says Homebase spent seven months on legal work before it went live, with help from law firm Hunton Andrews Kurth. Homebase has no token of its own beyond the property NFTs.