The growth markets are where new $THEO is minted and redeemed.
When funding goes in, $THEO is minted according to the Price Curve and is able to be redeemed one week later.
Funders have the option to support different types of housing by choosing from the available contracts in the growth market. Specifically, they can fund two types of units: Standard Housing and Moby Units. The treasury is limited to a maximum of 67% for Standard Housing and a minimum of 33% for Moby Units.
The cost per unit varies by type. Standard Housing units, which are valued by appraisers, average $125,000 each. On the other hand, Moby Units, which are priced based on 2023 material costs, average $5,500 each. However, this price is subject to change after the first 100 units, which Moby has committed to providing to the Theopetra Network State at a fixed price of $5,500 each.
The agreement between Moby and the Theopetra Network State is flexible and can be terminated if the citizens of Theopetra Network State decide to do so through a vote. The criteria for this decision-making process, including the quorum, will be established in the first quarter of 2024.
Acquisitions and tenant placement for these units are sorted by YIMBY Auctions then facilitated by the iBuyer process.