Citadao.io (OP)
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March 20, 2022, 02:50:45 PM |
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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! |
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Citadao.io (OP)
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Activity: 37
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March 20, 2022, 03:00:28 PM |
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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! |
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ZUCHA
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March 20, 2022, 04:03:54 PM |
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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?
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Citadao.io (OP)
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Activity: 37
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March 20, 2022, 04:09:45 PM |
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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. |
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bowirng
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March 20, 2022, 05:26:38 PM |
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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?
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maracle
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March 20, 2022, 06:35:58 PM |
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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?
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vangtcu
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March 20, 2022, 07:54:13 PM |
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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? |
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Citadao.io (OP)
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Activity: 37
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March 21, 2022, 03:24:02 AM |
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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. |
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Citadao.io (OP)
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March 21, 2022, 03:29:34 AM |
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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. |
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Citadao.io (OP)
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Activity: 37
Merit: 0
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March 21, 2022, 03:35:18 AM |
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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. |
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Citadao.io (OP)
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May 18, 2022, 04:41:38 AM |
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2nd IROCitaDAO 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!
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Citadao.io (OP)
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May 25, 2022, 05:09:48 AM |
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Successful 2nd IROCitaDAO 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!
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