We are delighted to share the exciting news that a Buyout offer has been made for the 18SML property. The Buyout offer is the first of its kind and will serve as a Proof-Of-Concept in demonstrating the legitimacy of our Real Estate Tokens, RET, and the capabilities of our platform. For those who don’t know, RET holders can redeem the underlying title deed of the property by going through a process known as a Buyout. A successful Buyout would allow the Buyout offerer to buy the RET from all other holders and redeem the underlying real estate.
CitaDAO stands as the pioneering Real Estate Web3 platform that allows users to redeem tokenized assets. This feature plays a pivotal role in Detokenization, the process of bringing a tokenized property off the blockchain. Detokenization is crucial as it enables a token’s value to be truly backed by the underlying Real World Asset.
[Read more about detokenization and why it matters here.]
So what should you do if you are a RET holder? Well, you have 2 options. You can a) Counterclaim to reject the Buyout offer. Alternatively, if the Buyout offer is appealing enough, you can b) Do nothing. Either option is not guaranteed to succeed as the result of a Buyout offer is dependent on the collective decisions of fellow RET holders as well.
Check out the Buyout Offer here.
For more information on How Buyouts Work.
Refer to our tutorial on How to Counterclaim a Buyout Offer (Section D).
About CitaDAO
CitaDAO.io 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 existing real estate ecosystem by creating interoperability with other DeFi applications/primitives that operate on the Ethereum protocol. Real estate token allows the community to diversify their portfolio on-chain to generate stable yield through real world assets that have constant liquidity through AMM — interested to learn more?
Follow us on Twitter: @citadao_io
Join our community on Discord: bit.ly/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
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