A Transparent, Auditable, and Community-Owned Protocol for Property on Blockchain
Introduction: Why Open Source Matters for Real Estate
Real estate is the world’s largest asset class, yet its digital representation has remained fragmented, opaque, and trapped within proprietary systems. For decades, property technology has been built behind closed doors—software licenses controlled by single vendors, data locked in siloed databases, and standards dictated by companies with commercial interests that may not align with the long-term health of the market.
SQMU takes a fundamentally different approach.
We believe that a standard for real estate cannot be owned by any single company. It must be open. It must be transparent. It must be auditable by anyone—regulators, developers, institutional investors, and individual property owners alike. And it must be built to outlast any organisation, surviving through community stewardship rather than corporate fiat.
This is why the entire SQMU protocol is open source.
In the pages that follow, we will walk you through the philosophy, the code, and the practical implications of building real estate tokenisation on open infrastructure. You will see how our first‑principles approach—anchoring every token to one verified square metre—combines with full transparency to create a foundation for property markets that are more accessible, more liquid, and more trustworthy than anything possible behind proprietary walls.
Whether you are a developer looking to integrate SQMU into your own platform, a regulator seeking to understand how the technology works, an asset owner evaluating tokenisation options, or an investor curious about the underlying mechanics—this page is your starting point.
The First‑Principles Foundation
Before examining the code, it is essential to understand what the code actually implements. SQMU is not an arbitrary collection of smart contracts; it is a direct translation of the physical, legal, and operational realities of real estate into a computational model.
As detailed in our SQMU Standard paper, we began with a simple question: What aspects of real estate are invariant across jurisdictions and through time?
The answer shaped everything:
- A property occupies a fixed physical space, measured in units of area.
- That area is documented in legal registries and independently verifiable.
- Ownership rights attach to that measurable space.
- The property moves through a predictable lifecycle: acquisition, holding, rental, financing, transfer, and eventual retirement.
These invariants led us to a core design principle: 1 SQMU token = 1 verified square metre. The total supply of tokens for any property is exactly equal to its certified area. No more. No less. This simple rule eliminates the possibility of dilution, ensures transparency, and ties digital value directly to physical reality.
But a principle is not enough. It must be encoded in a way that is:
- Unambiguous – The code must leave no room for interpretation.
- Unchangeable – Core rules must be immutable to guarantee long‑term trust.
- Inspectable – Anyone must be able to verify that the code matches the claimed principles.
- Reusable – Developers worldwide should be able to build on the same foundation without asking permission.
This is precisely what open source enables.
What the SQMU GitHub Repository Contains
The SQMU GitHub repository is the authoritative source for the protocol. It is organised into three primary modules, each serving a distinct role in the ecosystem.
1. Core Smart Contracts (/SQMU)
The SQMU protocol is built on a modular suite of Solidity contracts, each handling a distinct phase of a tokenised property’s lifecycle. While the full architecture supports everything from crowdfunding to rent distribution, the current WordPress plugin integration focuses on three core contracts that enable the essential user flows: viewing tokens, buying ownership, and trading units.
All contracts reside in the /SQMU/Contracts directory and are fully documented with NatSpec comments. Here is what each of the three currently integrated contracts does.
SQMU.sol – The Ownership Ledger
Role: The foundational ERC‑1155 token contract that represents square‑metre ownership in a specific real‑estate asset.
This is the central registry of who owns what. When a property is tokenised, SQMU.sol is deployed with a total supply exactly equal to the property’s verified square‑metre area (the 1 SQMU = 1 m² rule). Every token minted is permanently linked to that specific asset through its metadata.
What the WordPress plugin uses it for:
- Displaying token balances in the
[sqmu_portfolio]shortcode. - Showing asset metadata and total supply in the
[sqmu_listing]shortcode. - Verifying ownership before allowing certain actions.
The contract enforces the core invariant that makes SQMU trustworthy: supply is fixed at deployment and cannot be inflated. Anyone inspecting the code can verify that no hidden minting functions exist.
AtomicSQMUDistributor.sol – Primary Purchase Engine
Role: Handles the one‑step purchase of SQMU tokens directly from the issuer.
When a buyer wants to acquire tokens during a primary offering, this contract ensures that payment and token transfer happen atomically—either both succeed, or neither does. This eliminates settlement risk for both parties.
What the WordPress plugin uses it for:
- Powering the “Buy Now” functionality in property listings.
- Ensuring that when a user sends funds, they instantly receive the correct number of SQMU tokens.
- Enforcing any issuance rules (minimum purchase amounts, whitelist restrictions, etc.) before transfer.
From a user’s perspective, interacting with AtomicSQMUDistributor.sol via the plugin feels like an e‑commerce checkout—but behind the scenes, it’s a trustless, on‑chain transaction.
SQMUTrade.sol – Secondary Market & Transfer Logic
Role: Enables peer‑to‑peer trading of SQMU tokens between verified participants.
Once tokens are in circulation, holders may wish to sell them. SQMUTrade.sol provides the underlying logic for listing, matching, and executing trades. It can enforce compliance rules (such as restricting transfers to approved wallets) and supports various pricing models, including fixed‑price listings or negotiated deals.
What the WordPress plugin uses it for:
- Supporting the transfer interface where users can send tokens to another wallet.
- Enabling future marketplace features where buyers and sellers can discover each other.
- Enforcing any jurisdictional transfer restrictions configured by the property issuer.
Because the contract is open source, market participants can verify that all trades comply with the property’s governing rules before execution.
How These Contracts Work Together in the Plugin
When a user interacts with your WordPress site, these three contracts operate behind the scenes in a coordinated flow:
| User Action | Contract Involved | What Happens On‑Chain |
|---|---|---|
| Views a property listing | SQMU.sol | Plugin reads total supply, price per m², and metadata from the contract. |
| Clicks “Buy” | AtomicSQMUDistributor.sol | User’s wallet sends payment; contract instantly transfers SQMU tokens. |
| Checks portfolio | SQMU.sol | Plugin queries the user’s token balance for each property. |
| Transfers tokens | SQMUTrade.sol | User initiates a transfer to another wallet; contract enforces rules and updates balances. |
Code Transparency and Auditability
All three contracts include:
- NatSpec comments explaining every function’s purpose and parameters.
- Test coverage demonstrating expected behaviour (see the
/testdirectory). - No privileged minting functions – supply is fixed at deployment.
- Event emissions for every state change, making the contracts fully auditable via block explorers.
Developers are encouraged to inspect the code directly, run the test suite, and verify that the contracts behave exactly as documented. This transparency is the foundation of SQMU’s trust model.
2. WordPress Plugin (/WordpressPlugin)
One of the most powerful tools in the repository, the SQMU WordPress plugin bridges the gap between blockchain infrastructure and the world’s most widely used content management system.
What it enables:
- Property owners and agencies can deploy SQMU tokens for their assets directly from a WordPress dashboard—no command line, no blockchain expertise required.
- Shortcodes such as
[sqmu_listing]and[sqmu_portfolio]allow seamless embedding of tokenised property information into any page or post. - Integration with MetaMask and other Web3 wallets lets visitors connect and participate in token offerings or rental payments without leaving the website.
- Built‑in support for displaying property metadata, token prices (pegged to appraised value), and investor dashboards.
The plugin is written in standard PHP and JavaScript, following WordPress coding conventions. It includes a build process using npm for asset compilation, and full installation instructions are provided in the module’s README.
3. Google Apps Scripts (/GoogleAppScript)
Real estate operations extend beyond the blockchain. Payments agreements generate email receipts. Compliance checks produce off‑chain documentation. Investor communications require email notifications.
The Google Apps Script module provides lightweight, serverless automation for these essential tasks:
- Email receipt generation – When a rent payment is processed on‑chain, a script automatically generates email receipts to both tenant and landlord.
- Listing synchronisation – New tokenised properties can be pushed to a Google Sheet for easy sharing with potential investors or regulators.
- Governance notifications – When a vote is initiated on‑chain, scripts can notify token holders via email with a summary and voting link.
These scripts are provided as reference implementations, demonstrating how off‑chain systems can integrate with SQMU contracts without requiring expensive infrastructure.
The Open Source Ethos: Why Transparency Is Non‑Negotiable
The decision to open source SQMU was not taken lightly. It involved years of consideration about the trade‑offs between commercial control and ecosystem health. In the end, the arguments for openness proved overwhelming.
Auditability Builds Trust
Real estate transactions involve significant value. Investors, regulators, and counterparties need confidence that the digital representation of a property is accurate and cannot be manipulated behind the scenes.
With open source, every line of code is visible. Regulators can inspect the compliance mechanisms. Investors can verify that total supply matches certified area. Auditors can trace the logic that governs dividend distributions. There are no hidden minting functions, no backdoors, no privileged accounts that can bypass the rules.
This level of transparency is simply impossible with proprietary software. When the code is closed, trust must be placed in the vendor. When the code is open, trust is placed in mathematics and public verification.
Survival Beyond Any Single Organisation
Companies fail. Priorities shift. Projects get acquired and shut down. If a tokenisation standard is controlled by a single entity, its long‑term viability is tied to that entity’s fate.
Open source severs that link. The SQMU contracts, once deployed, live on the blockchain forever. The source code, hosted on GitHub, can be forked, maintained, and improved by anyone, regardless of what happens to the original development team.
For asset owners tokenising million dollar properties, this guarantees that their digital assets are not hostage to the continued existence of any particular company. The standard can outlive its creators, exactly as a foundation for real‑world value should.
Community Innovation
No single team can anticipate every use case, every jurisdiction, every integration scenario. By opening the code, we invite the global developer community to extend SQMU in directions we never imagined.
Already, we have seen interest in:
- Integrating SQMU with DeFi lending protocols to enable mortgage lending against tokenised property.
- Building mobile applications for tenant rent payments using the r3nt frame.
- Creating custom compliance modules for specific regulatory regimes in Southeast Asia and Latin America.
- Developing AI‑powered valuation tools that feed data into SQMU metadata.
All of this innovation happens in the open, with improvements flowing back to the entire ecosystem rather than being trapped within a single company’s walled garden.
Built for Audit: How Regulators and Institutions Can Verify
One of the most frequently asked questions about tokenised real estate is: How do we know it’s real? How can a regulator verify that tokens actually represent the claimed property? How can an institutional investor confirm that supply hasn’t been inflated?
SQMU’s open source model provides clear answers.
Supply Verification
The total supply of SQMU tokens for any property is a public blockchain record. Anyone can query the contract and see exactly how many tokens exist. This number must match the certified area documented in the property’s legal records.
Because the contract logic is open source, it is possible to verify that:
- The minting function can only be called once (or under strictly controlled conditions) and only with the appropriate authorisation.
- No hidden functions allow additional tokens to be created after deployment.
- The relationship between token ID and property identity is immutable.
Transfer Restriction Verification
Compliance with securities laws often requires restricting who can hold or transfer tokens. SQMU implements these restrictions directly in the contract code, and because the code is open, regulators can inspect exactly how the restrictions work.
For example, compliance tools maintain a list of approved wallet addresses. The transfer function checks this list before allowing any movement of tokens. Regulators can verify that:
- The list can only be updated by authorised parties (e.g., the issuer or a licensed compliance provider).
- There are no exceptions that bypass the check.
- Historical changes to the list are recorded and auditable.
Valuation Anchoring
As explained in our liquidity analysis, SQMU tokens trade at a price pegged to the latest official appraisal per square metre. This is enforced not by the contract itself but by platform policies and, optionally, by smart contract mechanisms that limit trade execution to approved prices.
The open source code for trading interfaces and liquidity pools makes this process transparent. Buyers and sellers can see exactly what price is being offered and how it relates to the underlying appraisal data.
How to Use the Open Source Code
The SQMU repository is designed to be accessible to developers at all levels, from those building full‑scale tokenisation platforms to individuals experimenting with their first smart contract.
For Smart Contract Developers
If you are comfortable with Solidity and Ethereum tooling, you can clone the repository and begin working with the contracts immediately:
git clone https://github.com/NP-Vincent/SQMU.git
cd SQMU/SQMU
npm install
npx hardhat testThe test suite demonstrates expected behaviour and provides a safety net for modifications. Deployment scripts are included for common networks (Scroll, Ethereum Sepolia, and local Hardhat nodes).
We encourage developers to:
- Audit the contracts themselves or commission third‑party audits.
- Propose improvements via pull requests.
- Report any security concerns confidentially through the process described in
SECURITY.md.
For WordPress Developers and Site Builders
If you manage real estate websites using WordPress, the SQMU plugin offers the fastest path to tokenisation.
- Install the plugin by copying the
/WordpressPlugin/plugin/directory to your WordPress installation’swp-content/plugins/folder. - Activate the plugin from the WordPress admin panel.
- Configure network settings – specify which blockchain network you are using (e.g., Scroll mainnet) and the addresses of deployed SQMU contracts.
- Insert shortcodes into any page or post to display tokenised property listings, investor portfolios, or rental payment interfaces.
Detailed instructions are available in the module’s README, and we are actively working on video tutorials and expanded documentation.
For Integrators Building on Google Workspace
The Google Apps Scripts module provides templates that can be copied directly into your Google Sheets or Google Apps Script projects. Each script includes comments explaining the integration points with SQMU contracts and the required environment variables (such as wallet addresses and API endpoints).
The Roadmap: What Comes Next
Open source is a journey, not a destination. The current repository represents a solid foundation, but there is much more to build.
Phase 1: Core Stabilisation (Current)
- Completed: Core ERC‑1155 contracts, WordPress plugin, Google Apps Scripts reference implementations.
- In progress: Formal verification of critical contract functions, expanded test coverage, and security audits.
- Next: Publication of formal specification documents to aid auditors and regulators.
Phase 2: Developer Experience (Q3 2026)
- Launch of developer portal with interactive documentation, code playgrounds, and integration guides.
- Expansion of example projects showing common use cases: rental property tokenisation, development fundraising, and secondary market trading.
- Bug bounty programme to incentivise security research and responsible disclosure.
Phase 3: Multi‑Jurisdiction Compliance (Q4 2026)
- Development of modular compliance adapters for specific regulatory regimes (e.g., VARA in Dubai, MAS in Singapore, SFC in Hong Kong).
- Integration with identity providers and KYC/AML services through open standards.
- Pilot programmes with regulated financial institutions in the UAE, Singapore, and Hong Kong.
Phase 4: Community Governance (2027)
- Exploration of decentralised governance mechanisms for the SQMU standard itself.
- Establishment of a technical steering committee with representatives from major adopters.
- Transition of key repositories to community‑owned organisations (e.g., a separate GitHub organisation governed by maintainers from multiple companies).
Frequently Asked Questions
Is the entire codebase open source?
Yes, all components described on this page are available under the Apache License, Version 2.0. This includes the smart contracts, WordPress plugin, and Google Apps Scripts. You are free to use, modify, and distribute them, subject to the terms of the license.
What about Falaj.io? Is that open source?
Falaj.io is a separate commercial offering that provides compliance infrastructure for regulated institutions. While it integrates with SQMU and shares its philosophical commitment to transparency, its codebase is not currently open source. This allows us to invest in the specialised compliance features required by regulated entities while keeping the core SQMU standard free and open.
How do I contribute?
Start by reading CONTRIBUTING.md in the repository. We welcome bug reports, feature suggestions, and code contributions. For significant changes, please open an issue first to discuss the approach.
Who maintains the repository?
The repository is currently maintained by the SQMU core team, led by N P Vincent. As we move toward community governance, we will establish processes for adding maintainers from outside organisations.
Can I deploy SQMU on a blockchain other than Scroll?
Absolutely. The contracts are EVM‑compatible and have been tested on Ethereum, Scroll, Polygon, and local development networks. You will need to adjust deployment scripts and network configurations accordingly.
Conclusion: Building the Standard Together
Real estate tokenisation holds the promise of democratising access to property investment, increasing liquidity, and reducing friction in one of the world’s most important markets. But that promise can only be fulfilled if the underlying infrastructure is open, transparent, and built to last.
SQMU is our contribution to that vision. By anchoring every token to a verified square metre, we provide a stable, understandable unit of value. By opening the source code, we ensure that the standard can be inspected, trusted, and extended by anyone.
We invite you to explore the code, build on the standard, and join the community that is shaping the future of real estate on blockchain.
- Explore the code: github.com/NP-Vincent/SQMU
- Read the whitepaper: /sqmu-standard/
- Learn about tokenisation: /property-tokenisation-platform/
- Understand liquidity: /real-estate-tokenization-liquidity/
The standard is open. The code is ready. The future of real estate is waiting to be built together.
This page is part of the SQMU open source documentation. Last updated: 22 February 2026.