Coinscribble – February 21, 2024 / Stead is an Arbitrum-based DeFi platform (Stead.Builders) that provides liquidity for small marine businesses, fishermen, and fish farmers, most of whom are unbanked or operating in developing countries.
The platform supports numerous types of floating infrastructure, like fishing and transport boats, fish cages, floating docks, and, most impressively, floating houses, hotel rooms, and restaurants.
The platform started when the marine engineering company ArkPad, operating out of the Philippines, wanted to help customers to acquire mortgages for its floating houses.
Getting a mortgage is already difficult enough considering the huge down payments that need to be made, but securing a mortgage for a floating house is another story entirely. Most banks unfamiliarity with unconventional real estate means they pass it over for investment, so ArkPad helped to create the Stead platform in order to decentralize the funding process for floati
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