What is a DAO?
“A decentralized autonomous organization, or DAO, is an organization that’s governed by code instead of leaders. A decentralized autonomous organization, or DAO, is a blockchain-based form of organization or company that is often governed by a native crypto token.”
Every real estate asset managed has its own DAO and ownership in this DAO is represented by the Brick NFT’s held for that particular real estate asset.
Every property has its own DAO and the collection of all DAO’s is called the VersacBrickSquad
Once all bricks of an apartment are sold out, we will have a apartment governance platform on Discord for every specific DAO where the group of owners can interact. Key decisions can be made there based on 2/3 majority rules like:
- Sell the property to cash in on value increase.
- Change rental profile from long term rent to Airbnb or vice versa.
- Other significant changes.
TuruGlobal will invest in order to hold an initial share of 20% in all the DAO’s.
TuruGlobal invest to hold 20% of the value of the bricks of all VersacBrickSquad DAO’s. These Bricks are stored in specific VBS wallets and are used as collateral for the $VBS tokens. For every 1 $USDT worth of Bricks in this wallet, 1 $VBS token is minted.
The income generated by the Bricks held in this wallet is proportionally shared with $VBS token holders.