We are introducing a permanent sink for $THEO: YIMBY access tokens. $YIMBY functions as a one-way sink, it can only be minted by burning $THEO. When $THEO is burned, an equal amount of YIMBY is minted. These new tokens are used to distribute access within the Theopetra housing network.
Primarily, they are used as a way to bid for priority within the housing queue.
Placement within available units goes to the highest YIMBY bidder on that unit. If the queue is empty, no bid is required.
If the treasury has sufficient funding for a new acquisition then Theons may also bid for priority to choose from the available pre-approved properties in the housing queue, giving them right of first refusal for placement in that newly acquired unit.
The separation of benefits realized within the housing network (YIMBY) from the funding and revenue cycle (THEO) allow for each economic function to be expressed individually through each asset. Since the supply only flows one way, the economic value realized through the housing network flows upward as additional deflationary pressure for THEO.
As the network grows, the goal is to increase the functionality of $YIMBY and offer other external rewards in exchange for $YIMBY. But, first and foremost, it will be used within the ecosystem.
As part of its housing mission, Theopetra distributes 50% of the $YIMBY minted from rents to the residents within the housing network. The other 50% is reserved for the multiplier rewards. This ensures that current residents have an advantage in capturing the benefits of the network, and, the longer they stay, the greater the rewards. The conversion rate will always be 1:1 $THEO:$YIMBY, fully decentralized and not controllable by any person or entity.
Last modified 1mo ago