In Theopetra's economy, money and resource access, the foundational elements of society, are managed transparently on chain. $THEO, the digital currency, facilitates trade and acts as a store of value, while $YIMBY enables access to the iBuyer & RWAs. This on-chain system ensures every transaction and decision is recorded publicly, promoting fairness and trust within the community. Theopetra enhances these traditional societal structures, making them more efficient and accessible.
$THEO is minted when new funding is deposited into the protocol's growth markets to acquire real estate**. The amount of $THEO minted is based on the price curve, which increases the cost to mint based on the increase in supply and time elapsed. The price curve tracks the spot price based on a long run sample average taken from the Uniswap market price, and will slowly adjust the curve towards movements in the spot price.
$THEO is acquired by the protocol from the open market using the net cash from rental payments, swapped for $YIMBY, and the $YIMBY is distributed to residents.
$YIMBY is the internal access token of the housing network, and is used as a tool to measure resident preferences and distribute housing access accordingly. $YIMBY can be used to bid for priority access to unoccupied units, to bid for the right to choose the next real estate acquisition, or both. Additional perks may be made available through external partnerships.
**While the contract is under development, this action will be facilitated by the treasury multisig. See our decentralization plan for the implementation of the transition from multisig to smart contract.