Dear Swixies,
We have been working intensively to bring the Swix ecosystem to life and the time has come to take a closer look at what we have put in place in the real world.
While the Swix Wizards are busy developing the tech for the Swix booking platform, as well as the smart-contracts for the Staking and Bonding mechanisms, the Swix Scouts have already obtained a group of London properties which the Swix Elves are currently fitting with eco-living furniture ready for rental.
Here is a sneak peek of one of the aforementioned properties:
Swix London Starter Portfolio
Some early Swixies have provided the necessary resources to bootstrap a preliminary property portfolio to realize a proof of concept with real properties and real guests before gradually expanding with funds raised at IDO and LBP.
A total of four properties will be listed on the MVP booking platform, ranging from 1–3 bedrooms located in super prime locations Central London locations.
Once fundraising is complete, Swix will begin month one of the property expansion plan in both London and one other European city (to be announced soon), deploying the first tranche of funds to acquire 30 units by week 4.
The New Gold Standard for Homestay
At Swix, we believe in the importance of detail. We offer properties in desirable neighbourhoods around the world, distinguished by their lifestyle amenities and designs, ensuring the right balance of luxury, practicality and home comfort. Swix properties also offer real cultural immersion through their positioning in iconic residential neighbourhoods and their proximity to the local and traditional rather than the touristic.
Swix seeks to introduce a new global standard for homestay accommodation. Every property is carefully vetted before onboarding and then upgraded with Eco-living furnishing for improved home eco-efficiency as well as cosmetic improvements for comfort and practicality such as: heating and cooling, audiovisual, appliances, beds and bedding, outdoor furniture for indoor-outdoor living and more.
Property Meta Lease
The earliest representations of property leases date back to the 18th Century at the time when the growth of industrialized cities required an important contractual form of real estate holding. The mass adoption was successful because of the fundamental principle of equal negotiation between the parties. The terms and conditions of the lease in its most primitive form, were defined by its most simplistic components: Who, What, When and How Much.
After hundreds of years, Swix will now modernize the historical lease into the Swix Property Meta Lease.
Swix wants to redefine how traditional property lease value is perceived. By tokenizing each lease and its cash flow, Swix is now able to unlock its full economic potential.
Swix introduces Meta Leases, ERC1155 representations of lease-ownership which contain:
- Property details
- On-chain booking calendar of each property
- Present Value of the lease
- Certificate of Ownership
- Image gallery + 360 degree view of the property
Each lease is valued by taking into account the term of the lease, the average nightly rate and the expected occupancy rate.
Lease duration is the contractual term of the lease as agreed in the contract. There will always be an option to extend a lease through renewal. Leases typically run for 2 years and are renewable to 5, 10 and 15 years.
The average nightly rate of a property is calculated by taking the sum of the nightly rental rates within the desired period and dividing it by the number of nights within the same period.
The expected occupancy rate is a product of the historical data from rental industry averages, to which we apply our own discretionary risk factor which we decide along with the community.
More about lease valuations in the following articles.
Follow us on Twitter and jump on our Discord to stay updated.
Legal Disclaimer:
The information provided in this Medium Post pertaining to Swix DAO, its crypto-assets, business assets, strategy, and operations, is for general informational purposes only and is not a formal offer to sell or a solicitation of an offer to buy any securities, options, futures, or other derivatives related to securities in any jurisdiction and its content is not prescribed by securities laws. Information contained in this Medium Post should not be relied upon as advice to buy or sell or hold such securities or as an offer to sell such securities. This Medium Post does not take into account nor does it provide any tax, legal or investment advice or opinion regarding the specific investment objectives or financial situation of any person. Swix DAO and its agents, advisors, directors, officers, employees and shareholders make no representation or warranties, expressed or implied, as to the accuracy of such information and Swix DAO expressly disclaims any and all liability that may be based on such information or errors or omissions thereof. Swix DAO reserves the right to amend or replace the information contained herein, in part or entirely, at any time, and undertakes no obligation to provide the recipient with access to the amended information or to notify the recipient thereof. The information contained in this Medium Post supersedes any prior Medium Post or conversation concerning the same, similar or related information. Any information, representations or statements not contained herein shall not be relied upon for any purpose. Neither Swix DAO nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this Medium Post by you or any of your representatives or for omissions from the information in this Medium Post. Additionally, Swix DAO undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed in this Medium Post.
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