Announcing our upcoming IRO launching on May 19, 2022
Having been more than 2 months since our Genesis IRO, CitaDAO is delighted to announce that our next IRO will be launched on 19th May 2022, 00:00 UTC.
Key facts of the IRO
- Address: 20 Sin Ming Lane, Midview City, 573968, Singapore
- IRO value: US$630,000
- IRO date: 19 May 2022, 00:00 UTC
- IRO duration: 5 days
A strata industrial space located at the heart of Singapore in the vibrant Midview City, 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 plenty of amenities for its tenants which include a childcare center, cafes, studios and a gym. Find out more about the property here.
What is Introducing Real Estate On-chain (IRO)?
Introducing Real Estate On-chain (IRO) is a voting process where the community decides if the Real Estate gets tokenized. Participants are able to participate in the IRO by contributing stablecoins of any amount to the voting process. A successful vote leads to a successful IRO which entails the tokenization of the Real Estate asset into Real Estate Tokens (RET).
Every IRO has a minimum amount of stablecoins required for it to be successful. This amount is also known as the Softcap. For our 2nd IRO, the Softcap is US$630,000. Once the Softcap is met, the IRO will be deemed as a success and the property will be tokenized into RET. The RET will subsequently be distributed to the participants on a pro rata basis.
More information about the IRO process can be found here.
How to participate in IRO?
Participating in CitaDAO’s IROs is a fairly simple process. Participants only need a MetaMask wallet with USDC and Ether. A detailed tutorial on participating in an IRO can be found here.
Additionally, feel free to reach out to us via Discord should you have any questions or run into any issues.
Curious to know more about CitaDAO?
Follow us on Twitter @citadao_io, join our community on Discord, or check out our website citadao.io where you can join our waitlist. We run a weekly introduction and Q&A call on our Discord server on Tuesdays, 10AM EST/3PM UTC.
CitaDAO is a Decentralized Finance (DeFi) platform for Real Estate to be tokenized on-chain, built on the Ethereum ecosystem. CitaDAO aims to solve the lack of liquidity, access limitation, and lack of composability in the existing real estate ecosystem by creating interoperability with other DeFi applications/primitives that operate on the Ethereum protocol. Real Estate Tokens allow the community to diversify their portfolio on-chain to generate stable yield through real-world assets that have constant liquidity through AMMs.
Follow us on Twitter: @citadao_io
Join our community on Discord: discord.gg/citadao
Or check out our website: citadao.io
Disclaimer: The information contained in this communication is based on sources considered to be reliable, but not guaranteed, to be accurate or complete. This communication should not be relied upon or the basis for making any investment decision or be construed as a recommendation to engage in any transaction or be construed as a recommendation of any investment strategy