Bitcoin Forum

Hi all,

We aim to provide a luxurious, discreet and personal home for Token holders by purchasing a portfolio of properties in key global cities for their exclusive use. Each STAY token will enable the holder to stay for 1 night a year at his chosen property. STAY tokens will also have inherent value, as rental earned on unused nights will accrue to Token holders and be used to purchase additional properties.

We are hoping to get feedback from the community on our WHITEPAPER (https://drive.google.com/file/d/0B0dtJ47eKRNZWFlfbGNoWGtLQ3c/view?usp=sharing).

Concept
STAY is a group of like minded individuals who would prefer staying in a discreet, luxurious home away from home when they travel. On completion of the ICO, we will acquire and manage properties in a minimum of 10 cities globally. Depending on the amount raised in the ICO, this could reach a maximum of 50 cities in the world. The initial cities will include London, New York, San Francisco, Tokyo and more. (See Appendix A for cities targeted based on the funds raised).The properties acquired will be luxurious, comfortable and convenient. Access to the properties will be discreet and via a PIN supplied to the booker.  No personal information collected on the person booking or staying in the properties.

The cryptocurrency token (STAY) will be built on the Ethereum platform with all transactions performed on Ethereum. STAY tokens will be divisible. The smallest fraction is 0.0001 STAY. Each STAY token and its equivalent fractional token will be entitled to receive the proportional number of STAY-NIGHT-YEAR tokens. (Do note that a minimum of 1 STAY-NIGHT-YEAR token is required to make a booking for 1 night)

A maximum of 15,000 STAY tokens will be sold, creating a portfolio of 50 homes for STAY token holders. We will issue an additional 20% of all the STAY tokens sold, to be kept by us to be used to generate income to cover the operating costs of the properties. (See reserve fund section for more details). For clarity, if 15,000 STAY tokens are sold, an additional 3,000 STAY tokens will be issued to us for a total of 18,000 STAY tokens in issue.

THE ICO campaign will stay open for one month, or until all 15,000 STAY tokens are purchased. The minimum number of STAY tokens that will be sold is 3,000 for a 10 city portfolio. In the event that the minimum is not reached, all monies will be returned to the purchasers.

During the ICO, payment can be made in either Ether or Bitcoin. On the first 7 days of the ICO, the price of STAY will be equal to 6 Bitcoins (BTC), and from the 8th to 14th day of the ICO it will be 7 BTC and from the 15th day onwards 8 BTC or its equivalent in ETH

TLDR; How it works
Each STAY token is issued one STAY-NIGHT-YEAR each year, which entitles the STAY-NIGHT-YEAR token holder to make a booking at a property of his choice. The booking can be made by calling various PROPERTY-NIGHT-YEAR-BOOKING contracts on the Ethereum blockchain with a public key.

Once the booking is confirmed, the access code to the property will be generated off-chain, encrypted with the supplied public key and sent to the booking address. The property access code will allow the booker to enter the property for those days which have been booked.

How does cleaning, maintenance and insurance of the properties work? Do the token holders need to contribute a regular fee?

More information is needed.I can get only a few from the ann thread,

Hi coin_coin,

the information can be found in the whitepaper here

https://drive.google.com/file/d/0B0dtJ47eKRNZWFlfbGNoWGtLQ3c/view (https://drive.google.com/file/d/0B0dtJ47eKRNZWFlfbGNoWGtLQ3c/view)

Would love any feedback you have.

Thanks

Hi helloal,

An initial reserve fund of 15% of the total amount raised will be kept aside to be used to pay for the operating expenses ( maintenance, insurance etc).

To keep the reserve fund at a suitable level and high enough to pay for the operating expenses, we will be keeping aside 60 days a year for each property to be let to 3rd parties. We estimate that this will be sufficient to pay for the annual operating expenses of the property each year.

If the reserve fund reaches 30% of the total funds raised, we will acquire an additional property for the benefit of the token holders.

Only in the event where the reserve fund falls below 3% of the total funds raised, will we look to sell a property.

Cleaning will be paid by the person who made the booking.

Hope that helps to clarify and do provide us with more feedback.

Thanks!

Sounds nice.
Would you have a portfolio with properties yet?
Pictures would be nice!

Hi,

We have some pictures included in the Appendix in the Whitepaper. These are a few properties that we have selected and will transact on these if they are still available when the ICO closes.

Thanks

Any bounty campaign like local translations sir???
reserve indonesian translations
thank you

It's one of those great, very detailed, and well-planned projects, hopefully to be the latest breakthrough project, the best innovative I've ever met, good luck and excellent run

Great project but i think price per token should be reduced so that more people can take advantage and participate, meanwhile the number of token can be increased proportionally.

How will you decide on the cities where the properties will be bought? Will you make any research like the state of the real estate market, its trends, demographics, etc.?

Hi sm11, the choice of cities are based on desirability of the city location for the first 50 cities. For cities after the first 50, we will seek feedback from STAY token holders. Thanks!

When will you release wallet? Keep on your hard work, I'll be  back for more information soon.

A token based timeshare.  I applaud you for the idea but cringe at envisioning the real world implementation.  I view this as one of those projects that is duplicating an existing ecosystem (timeshares) where the use of tokens adds effectively nothing to the value prospect of the program.

Timeshares are already a cludgy and opportunistic industry, but at least there's legal rights and protections that come with owning one.  This could be a successful project but I'm skeptical to say the least.

Thanks for the feedback. 2 things that I wanted to highlight:

1. Unlike timeshares that typically oversell the properties, we are only issuing 360 STAY tokens for each property - so 1 token per night
2. Booking and access to properties will be convenient and discreet. Anyone can make a booking onchain and get a PIN which gives them access to the property. No need to deal or meet with anyone along the entire process.

Appreciate all the feedback and comments!