Latest posts of: Citadao.io

Successful 2nd IRO
CitaDAO is proud to announce that our 2nd IRO is a major success.

Address: 20 Sin Ming Lane, Midview City, Singapore
IRO value: $630,000 | IRO duration: 5 days | IRO Outcome: Success

Following the successful IRO, a legal transaction is required to occur before the Real Estate Tokens can be minted and made available for claiming. For the IRO participants, do stick around for our Discord announcement to claim your share of RET from your Dashboard. Before then, feel free to read our guide on claiming here.

Read more about our future plans here!

Thank you for your support in making this IRO a success. Join us at app.citadao.io!

2nd IRO
CitaDAO is back and we are delighted to announce that our next IRO will be launched on 19th May 2022, 00:00 UTC.

Address: 20 Sin Ming Lane, Midview City, Singapore
IRO value: $630,000 | IRO duration: 5 days

The property is a strata industrial space in the vibrant Midview City in Singapore. The property is a 1,356 sq ft net industrial space on the 2nd floor industrial building. The space is leased to a well capitalized non-profit organization with a gross rental yield of 4.1%. There is a high demand for the space due to its prime location and superb connectivity. The unit is located within Midview City, an integrated business hub situated in the central part of Singapore. The building is sited in over 552,000 square feet of land area. It is an eight story building and an exclusive 3 story terrace block. The development is well connected and has a plenty of amenities for its tenant which includes childcare, cafes, studios and gym.

Find out how to participate in the IRO here. Join us at app.citadao.io!

Quote from: vangtcu on March 20, 2022, 07:54:13 PM

Quote from: Citadao.io on March 20, 2022, 04:09:45 PM

Quote from: ZUCHA on March 20, 2022, 04:03:54 PM

As we have seen that there are a lot of fraud out there, What if someone create hype and make any dump asset to tokenized . In that case what can be the prevention to avoid this kind of situation?

Hey, landlords will be required to undergo a KYC. This will ensure that they are the rightful owner of the property before they can list it on the CitaDAO platform. This would remove the fraud element of asset listings. It is possible that the landlord overprice or overvalue their Real Estate. However, it is up to the community to decide if the property gets tokenized. If there is insufficient interest in the property as the community feels that it is too overpriced, the asset will not get tokenized.

So here are lots of work to do, and also Collecting rental income, spending operational cost, giving property management fee and so on, How would you ensure that all the process are going well? How would you ensure the transparency?

Hey, each property will have a property manager assigned to it. The property manager will oversee the asset and provide a projection for rental yield. The calculation for the rental yield will include the income and costs that you have mentioned. In the case that the property manager underperforms significantly from their projections, they will be replaced. As for transparency, property managers will submit property management reports that will give insight to the asset's income as well as expenditure. Feel free to read more here.

Quote from: maracle on March 20, 2022, 06:35:58 PM

How much time will it take from committing stable coin to receive the first reward? And if it doesn’t successful than how much it take to refund the coins?

Hi, each IRO will have a different duration and reward amount. The time of rewards distribution is dependent on the IRO duration as rewards are only distributed when a successful IRO ends. For our Genesis IRO, the IRO spanned across 10 days. USDC rewards would have been distributed at the end of the 10 days if it was a successful IRO.

If the IRO is unsuccessful, you can claim your Stablecoins once the IRO ends.

Quote from: bowirng on March 20, 2022, 05:26:38 PM

Is it for all countries, like many countries ban the crypto because of their low knowledge about it.
But the people of those citizen want to invest some good real estate, Are you allowing them to make the move?

Hey, as mentioned in our Docs, there is a waiver that you must affirm before you can use the CitaDAO platform. CitaDAO's legal structure is currently valid in only Commonwealth countries. However, we are looking to expand the platform beyond Commonwealth countries to access more crypto natives in the DeFi space and allow more landlords across the world to list their assets.

Quote from: ZUCHA on March 20, 2022, 04:03:54 PM

As we have seen that there are a lot of fraud out there, What if someone create hype and make any dump asset to tokenized . In that case what can be the prevention to avoid this kind of situation?

Quote from: Westerngren on March 20, 2022, 01:21:21 PM

Who will audit the properties for the community? We need to know the value to make the properties to commit. Do you have any service like that?

Hey, any landlord in the community can list their commercial Real Estate on the CitaDAO platform. The only prerequisite is that they pass the KYC and AML checks to ensure that they are the rightful owner of the property. The landlords will be the ones who price the property listing. The property will go through the IRO process to decide if it gets tokenized. If there is insufficient interest in the property, the property will not get tokenized, hence the landlord is incentivized to make sure that they price their asset at a fair value.

CitaDAO will not have any appraisal services for IRO listings. Only assets that have already been tokenized after a successful IRO will have Real Estate firms to value the property. Cheers!

Quote from: VANDERWEELE on March 20, 2022, 06:50:57 AM

If some Real estate doesn’t get sufficient commitment but gets very high amount of commitment, and also
it has the fulfill all the criteria then what will happened to that IRO? Do you have any fund to fulfill the gap and make it happen?

Hi, CitaDAO will not use any funds to fulfill any funding gaps. CitaDAO will operate as a DAO and have its own DAO treasury. There could however, be the case whereby members of the DAO propose and vote to use the treasury funds to commit to an IRO. If the vote is successful, the proposal will go through.

But other than that, CitaDAO will not be involved with funding any of the IROs. The success of an IRO will totally depend on the interest of the community. Hope that clears the air!

Quote from: Chappas on March 19, 2022, 06:04:01 PM

Many real estate have the great potentiality to become NFT, Do you ever think of that? In future can you launch it as a Nft marketplace also and people can have the favorite NFT real estate.

Hey, CitaDAO is a decentralized marketplace for on-chain Real Estate. Here is how we implement the use of NFTs in our platform:

A piece of commercial Real Estate is listed on our platform in the form of an IRO. The IRO is a process that determines if the real estate gets tokenized, find out more about that here. If the IRO is successful, the property gets tokenized. Now here is when an NFT (ERC721) gets minted. The NFT represents the rights to the SPV and hence, the title deed and underlying assets held by the SPV. Real Estate Tokens (ERC20 fractions) are minted and distributed to participants of the IRO.

As you can see, CitaDAO is just like a marketplace for Real Estate. We envision the marketplace to be filled with various tokenized Real Estate assets that DeFi users like you and I can ape into very conveniently!

Quote from: Boissre on March 19, 2022, 11:52:14 AM

Most of the time projects fall behind of their Roadmap, What are the current situation of Citadao? Do you achieve all the milestone as you stated on your Roadmap?

Hi, please refer to the updated Roadmap in the Roadmap section, the Roadmap in the infographic is outdated. We have just completed our Genesis IRO on the 18th March and that constitutes our Proof of Concept so we are on track! Despite the IRO not going through due to insufficient commitment, the team has learnt many valuable lessons and we have actually achieved our goal for the POC, which is to ensure that the IRO process is working and all is in order. We are preparing for a 2nd IRO, presumably to be launched next month. Do join our Discord and stayed tuned for updates!

Quote from: Mcinroy on March 18, 2022, 11:39:41 PM

Quote from: Citadao.io on March 17, 2022, 04:57:13 PM

Quote from: Jaskulski on March 17, 2022, 04:30:38 PM

Don’t you think Real Estate on chain will be worth more than real estate IRL and that will create a extra value which is not real? And thus at certain point there could be a loss.

Hey, we believe that Real Estate in the real world will act as a backing for Real Estate on-chain. This means that the value of Real Estate on-chain should not fall below the value of Real Estate in the real world and should in fact be more than it. As you rightly mentioned, there will be an extra value. We believe that the extra value will come from the use cases that Real Estate on-chain unlocks. This comes in the form of the Real Estate Tokens (RET) that IRO participants obtain which will have multiple use cases such as yield farming, taking out collateralized loans, Real Estate Indexes and other Primitives. These are use cases that you would not be able to find or have difficulty finding with Real Estate in the real world.

We believe that all these use cases will make Real Estate on-chain more valuable than Real Estate IRL, thus making the extra value 'real'. It is similar to how Ethereum derives its value from it being used for transactions and how Bitcoin derives its value from it being used as a store of funds. Hope this helps!

I agree with you what you have just said but If real estate Tokens that can be used multiple cases and like many tokens value goes down so this token also can go down. In that case without decreasing the real value there will be a little less value and this can be a serious loss because we expect that real estate will only give us profit only.

Hey, the Real Estate Tokens will have a backing/floor price which is the price of the Real Estate in the real world. This means that the value of the RET can fluctuate but it will likely not fluctuate below the backing price. There may be the case where you trade for the RET at a premium and it drops to the backing price. However, we believe that just like Real Estate, in the long term, the RET will appreciate in value. Hope that helps!

Quote from: ZACHARIAA on March 18, 2022, 10:50:45 PM

Quote from: Citadao.io on March 18, 2022, 03:47:20 AM

Quote from: Chappas on March 18, 2022, 02:31:11 AM

There are a lots of yield farming pools which are very profitable and the interest rate is quite high. What amount of interest could a person gets if he yield he’s money on it?

Hey, I believe you are referring to yield farming with our Real Estate Tokens (RET) and USDC. For that you would receive rewards in our governance token, KNIGHT. We are targeting an APY of ~20% for yield farmers and we believe this is a very lucrative and competitive APY. We believe in ensuring sustainable yield and this would entail a sustainable price and sustainable APY. If your underlying yield farming token freefalls in price even though APY is high, you are likely to be at a net loss. Similarly, if your yield farming token is stable/appreciates in price but APY is freefalling, you are likely to not gain as much yield.

At CitaDAO, Real Estate Tokens will have a fairly stable price that appreciates in the long term and our yield farms will have an APY that can sustain over a long period. Thank you for the question!

Didn't see in thread that your Governance token is KNIGHT, is it a stable coin? What would be the maximum supply of it?

Hi. Nope, KNIGHT tokens are not stablecoins. They are the CitaDAO platform's native governance token that gives you the voting rights for decisions made with regards to the CitaDAO Treasury and Platform. We plan to introduce many more use cases for the KNIGHT token. The maximum supply is 10 Billion. Feel free to read more about our tokenomics here. Cheers!

Quote from: Osorto on March 18, 2022, 03:39:14 PM

In real world we get bank loan to invest or buy some real estate. whenever we get profit we can repay loans. But don’t think that on chain real estate will get any monetary support from the banks or financial institution.

Hey, we understand that banks will typically not give out loans to buy on-chain Real Estate. At CitaDAO, we get rid of the need to take out such loans through fractionalizing the on-chain Real Estate. This means that you no longer have to buy an entire asset but could instead get a fraction of it. This would allow for a lower upfront capital cost. Our IROs only require a minimum commitment amount of 1 USDC, meaning that you can commit however much you are comfortable with and still get Real Estate Tokens in the form of ERC20s.

Quote from: Chappas on March 18, 2022, 02:31:11 AM

There are a lots of yield farming pools which are very profitable and the interest rate is quite high. What amount of interest could a person gets if he yield he’s money on it?

Quote from: defieducator on March 18, 2022, 02:24:50 AM

Quote from: Citadao.io on March 16, 2022, 05:08:05 AM

Quote from: Eversly on March 15, 2022, 09:11:27 PM

When there are a lot of Blockchain why did you chose ethereum, What ethereum will bring in Citadao ?Or you will launch your own chain later?

Hey, we chose the Ethereum Network for our POC because of its deep liquidity and security. Commercial Real Estate Assets have high capital so we want to ensure that our Real Estate listings are on a chain that has deep enough liquidity to support this. At the same time, we understand that using the Ethereum Network comes with drawbacks (mainly being relatively high gas fees). Hence, our team is exploring launching a v2 on the Avalanche Network. Find out more here!

Ethereum is great, Avalanche may be second best smart contract chain.

can you tell more about how you are working with Avalanche? I see this post what does it mean

https://twitter.com/citadao_io/status/1499945090990559235

is it mean avalanche support citadao?

Hey, we are working with Avatar Avalanche, a crypto and blockchain investment firm, to support us in bringing properties onto the Avalanche Chain. They will be helping us in bringing CitaDAO's v2 to the Avalanche Network. As of now, our v2 is still a WIP. Our team has been preoccupied with our Genesis IRO and POC but we look forward to launching our v2!

Quote from: URDANETAN on March 17, 2022, 09:24:59 PM

As you mentioned that any landlord within the Commonwealth jurisdiction can list their commercial Real Estate on the platform after ownership verification (KYC). Will he be charged any fee to enlisted on CitaDAO?

Hi, yes. Landlords will be charged a 2% fee for listing their Commercial Assets. The 2% fees will be transferred to the CitaDAO Treasury. We believe that 2% is a very competitive fee when compared to fees in the real world. Landlords can benefit from this competitive fee, access to liquidity in the DeFi space (over US$70 Billion according to DeFi Pulse) and underwriting services. Cheers!

Quote from: ramonee on March 17, 2022, 07:04:48 PM

As we see in traditional real estate it is tough to enter the market and also exist from it. Because real estate is high capital sector and you can’t sell it in any time. It will take some time to sell it in proper price. In block chain will it be the same?

Hey, yes, the lack of liquidity for Real Estate is a key challenge that CitaDAO aims to tackle. As what you've mentioned, Real Estate in the real world is highly illiquid. Buying and selling of Real Estate can take a long period of time, the duration ranging from weeks to months.

At CitaDAO we aim to provide 24/7 on-chain liquidity for Real Estate that we tokenized. This is achieved by the use of Automated Market Makers (AMMs) for our secondary exchange. These AMMs allow for 24/7 trading of Real Estate Tokens (RET) in a liquidity pool. This means that RET holders will be able to sell their RET anytime. At the same time, prospective RET holders are able to buy RET from our secondary exchange anytime as well.

Quote from: Jaskulski on March 17, 2022, 04:30:38 PM

Don’t you think Real Estate on chain will be worth more than real estate IRL and that will create a extra value which is not real? And thus at certain point there could be a loss.

Quote from: Kopichechke on March 15, 2022, 09:52:34 PM

With DeFi gaining popularity over the past years, the ecosystem needs alternative sources of sustainable yield generation, How would you maintain this in future?

Hey, CitaDAO brings to you Real Estate Tokens (RET) which are minted when real world Real Estate gets tokenized. To achieve sustainable yields, it would mean to have a sustainable APY and a sustainable price. CitaDAO achieves both with our RET.

Sustainable price is achieved as RET are backed by Real Estate and hence, have a stable price that increases in the long term.

For sustainable APY, you could
1) Simply hold onto the RET as it accrues value from a rising floor price and appreciation from rental yield.
CitaDAO allows you to unlock more sources of sustainable yield.
2) You could collateralize your RET and take out a loan. Use that loan to farm for rewards.
3) You could provide liquidity by staking a RET-USDC pair into our yield farms and earn an APY.

Hope these help!

Quote from: Eversly on March 15, 2022, 09:11:27 PM

When there are a lot of Blockchain why did you chose ethereum, What ethereum will bring in Citadao ?Or you will launch your own chain later?