Nite Protocol Litepaper

Updated Feb 29, 2024. This is an evolving document and will be updated regularly.

Executive Summary

Excessive fees, fueled by a complex web of intermediaries and a lack of transparency, are stifling the innovation potential of a rapidly growing vacation rental industry. These challenges are rooted in centralized data silos that prevent efficiency and hinder seamless communication across the entire ecosystem.

The Nite Protocol, an open standard protocol for the vacation rental industry, is a collective opportunity and open invitation to solve these problems. Emergent technology can address challenges at three levels: infrastructure, services, and booking transactions, which collectively will provide an open and accessible source of truth that enables direct connectivity, efficiency, and new opportunities for all industry participants. Most importantly, any company can access and build upon the Nite Protocol.

Collective ownership is critical to the industry-wide adoption of the Nite Protocol. The Nite Protocol will utilize TRVL, a blockchain-based utility token, to enable fair and open participation through shared governance. In addition, the TRVL token will also be used to incentivize growth by rewarding participants who contribute time and resources to the protocol.

The future of the industry depends on openness and collaboration. Those who join forces to adopt and build the Nite Protocol have a unique opportunity to reduce costs, increase choice, fuel innovation, and lead the industry to a path that benefits all stakeholders.