Introducing Real Estate On-chain (IRO) is the process where the community determines the type of Real Estate to be tokenized. Every Real Estate will need to go through the IRO process, and only properties with sufficient commitment from the community will be tokenized.
Community members commit their Stablecoins to the IRO. Every IRO will have a Softcap and a Hardcap. The Softcap is the minimum amount of commitment needed for the IRO to be successful. The Hardcap is the maximum amount of commitment that an IRO can take in.
If the target (Softcap) is reached, members will receive Real Estate Tokens (RET), an ERC20 token with the right to buyout all other RET holders to redeem the underlying title deed, and their share of the IRO reward. If the target is not reached, the Stablecoins will be refunded and no reward will be distributed.
IMPORTANT: Before participating in an IRO, you must affirm that you are not located, incorporated, or a citizen or resident of the United States of America, the Republic of Seychelles, Bermuda, Burundi, Central African Republic, Democratic Republic of Congo, Eritrea, Guinea-Bissau, Libya, Mali, Palestine, Somalia, South Sudan, Western Sahara, Yemen, Cuba, Crimea and Sevastopol, Iran, Syria, North Korea, Sudan, Russian Federation or any state, country, or jurisdiction where it would be illegal according to applicable law for participation.