hello knight,
We have some important updates for you…
First, the long-awaited Singapore IRO is now live!
And the IRO becomes active until May 16, 2023.
What does that mean? Well, the community can participate in the tokenization process by committing USDC (to get real estate tokens) by the IRO end date. And the total amount that needs to be pledged is $635,000 for the IRO to be successful.
By the way, there is no upper limit to how much a person should invest.
So far we’ve seen individual pledges ranging from +$29 to as much as $25,000, with a total of $181,957!
28.65% of target in ~1 week! 71.38% more in the next 3 weeks!
It is an industrial unit located in Midview City, an integrated mega-business center in the central part of Singapore.
The purchase price is $635,000 (hence the IRO amount) for a floor area of 1,292 sq ft.
With a gross rental yield of 5.5% (annual rent is $35,188) and amenities such as supermarkets, schools, kindergartens, gyms, restaurants and shopping malls all in close proximity to the area, we decided this would be a great property to tokenize.
The monthly rentMCST and Property Tax are as follows: $2,932.33$357 per quarter (excluding GST) and $496 per quarter.
Do you still need more information about the property? We encourage you to go through this doc to get a comprehensive picture of the property and the surrounding area.
Well, we’ve made the process pretty simple and easy! All you need is a crypto wallet and some USDC in it (no matter how much).
Connect your wallet to CitaDAO and set the amount you want, Here.
Well you wait for the IRO to be successful and once that is done you will receive RETs aka Real Estate Tokens based on the amount you have pledged.
Ok, but what if the IRO fails? Do not worry about it! You would get your USDC back in your wallet in full.
Please note that if you are already a liquidity provider for our pools, we encourage you to migrate from the previous pools to the new ones.
Let’s withdraw your funds and deploy the assets Here.
And these are the new pools we are talking about.
With these pools you will enjoy advanced features and more possibilities. If you have any questions or need help, don’t hesitate to contact us our support team.
That’s it for now! We look forward to the success of the IRO! ✌️✌️✌️
Contributors: cheetah (Editor), Sujith (Leader) (Articles, Ecosystem Updates, Great Reads, Infographic, Memes)
*Remarks: 17-26% APR numbers are those determined on April 26, 2023 at SGT 4:00 PM. To check the current APR, please use the CitaDAO app. The effective annual interest rate can change depending on the pool ratio.
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