One of the key offerings of VersacBrickSquad is the opportunity for everyone to invest into real estate without the need of doing KYC.
TuruGlobal doesn’t withhold any taxation from earned income but leaves it to the responsibility of its community to manage taxation in line with the regulation of the country of residence by themselves.
Also we want to ensure liquidity of the Bricks held by our community, to give them the opportunity to sell their share at any moment.
The liquidity, the missing KYC and the land registry regulations in the various countries we have been exploring makes it impossible to give legal partial ownership of real estate to the holders of Bricks, as each of them should be individually registered in the land registry as partial owners of the property and an adjustment to land registry should be made anytime a Brick changes ownership.
Therefore in cooperation with our lawyer we have decided to define the collection of brick holders of a property as a DAO, where TuruGlobal owns the property but it holds a mortgage with the DAO where the property is used as full collateral for the mortgage.
A separate mortgage contract will be signed for every DAO. The DAO assigns one representative to be the individual with signature rights representing the DAO. In this manner there is a legal contract between DAO and TuruGlobal, where TuruGlobal borrows the sum of money representing the original value of all Bricks minted and the Real Estate Property is the 100% collateral against the Mortgage. The 100% collateral is independent of value of the property. So in case value increases, the collateral remains 100% so that all DAO participants benefit of the value increase.
The contract also states that all revenue (-costs) generated by the specific Real Estate property is provided to the DAO, who in its turn distributes it to the Brick holders proportionally.
Until the moment the DAO assigns another individual with signing rights based on voting, a TuruGlobal member ,who will also be part of the DAO representing the TuruGlobal share, will be volunteering to hold the signing rights to have a legal agreement in place between the DAO and TuruGlobal.
$VBS token is a TRC20 token on the TRON blockchain. The base value of a $VBS token is 1 $USDT and every $VBS token minted is backed Brick NFT’s held in the VersacBrickSquad wallet.
The function of the $VBS token is to give the TuruGlobal a chance to get invested in the total VBS portfolio. The income generated by the Brick NFT’s in the VBS wallet (the backing value for the $VBS tokens) will be distributed proportionally to the holders of the $VBS token. As over time there will be Brick NFT’s of several projects backing the $VBS token, these tokens represent a portion of the whole VBS portfolio.
$VBS tokens are allocated in the following manner:
50% move towards the TuruGlobal Vault
20% is distributed to the TuruGlobal team
17.5% is available for Purchase by BabyTuru Millionaire club members.
10% is available as compensation for VBS team members.
2.5% is available as initial liquidity in BBT/VBS and Turu/VBS liquidity pairs
50% of the tokens move to the TuruGlobal Vault. The revenue generated by them count as income for the TuruGlobal Ecosystem, meaning that
33% of the income will flow to dividend payment for $turu token holders,
33% of the income will be added to the Vault
33% of the income will go to the cash back wallet for $TRD token buy back.
20% of the token will be distributed to the TuruGlobal team. 10% to the C-suite and the other 10% to the remaining board members for the general support given to TuruGlobal
BabyTuru Millionaire club members
17.5% is available for Purchase by BabyTuru MC and Single mint NFT holders at a value of 1 USDT each to be paid in either $BBT or $turu. This will be approximately 25% discount vs the value in which it will be listed in the liquidity pairs in the DEX
Compensation for VBS team members
10% is available as compensation for VBS team members, giving a weekly reward for the team managing the community interaction, wallet management and real estate management
2.5% is used as initial liquidity in BBT/VBS and turu/VBS pairs on JustMoney DEX. These will be set up at a value of 1.25 USDT per $VBS and we will let the value float from there onwards. All liquidity providing VBS tokens will be receiving there proportion of rewards. In time when TuruGlobal has created a presence on BSC chain as well, there is the option to create the BSC version of $VBS token as well, which will be bridged to its TRC20 counterpart.
There will be two income streams in the VBS wallet:
Income generated by Bricks held in the wallet
Income generated by token held in the wallet
Income by Bricks
The income generated by Bricks will be proportionally distributed to $VBS token holders. This generates the main source of income for the $VBS holders
Income by other tokens
The VBS wallet will contain other tokens like $turu and $BBT earned from $VBS sales. These are passive income generating tokens. Part of the revenue generated will be distributed to $VBS holders where the other part will be used to grow the base funding for VBS.
The VBS wallet will contain the following tokens (plus some dust collected in the process as wel1):
The Brick NFT’s are the backing of all $VBS tokens in circulation. The income generated will be proportionally shared with all $VBS token holders.
The $turu tokens are received through sales of $VBS tokens, as airdrop from voting for TuruGlobal SRC or from airdrops for holding $BBT tokens. The $turu tokens earn $USDT revenue from the TuruGlobal ecosystem. Half of the earnings will be shared with $VBS token holders, the other half remains in the VBS wallet to support purchase of new real estate assets in the future.
The $BBT tokens are received through sales of $VBS tokens and will generate an income of $BBT tokens through the $BBT tax process and they will generate an income in $turu tokens for holding the $BBT tokens.
The $USDT tokens are partially converted to $TRX to freeze and create enough bandwidth and energy for cost free transactions on the TRON network.
The remaining $USDT will be compiled to support future real estate purchases for the VersacBrickSquad.