Loci Mutual
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Loci Mutual

Loci Bells by a Taco Shell DAO

Mortgage-secured token instruments, Loci Bells ring tax-deferred

Loci Bells are mortgage-secured tokens made directly by individual Loci associates in 4 unique token weights on a private L2 blockchain:

  • LUSD | No growth |USD, USDC Mint 1:1, burn 1:1 | Non-callable
  • 30LB:LUSD 1–1| Slowest growth |30-day max call frequency
  • Growth rates will range from 1% to 3%, 3YR terminal Call Dates
  • 60LB:LUSD 1–1 | Medium growth | 60-day max call frequency
  • Growth rates will range from 2.5% to 6%, 3YR terminal Call Dates
  • 90LB:LUSD 1–1 | Fastest growth | 90-day max call frequency
  • Growth rates will range from 4% to 11%, 3YR terminal Call Dates

Loci Bells are acquired by Loci associates with Loci USD, $1 LUSD face value Loci Bell tokens, minted with USDC/T and ETH utilizing Ethereum Mainnet. Loci Bells are subdivided from a commercial mortgage note and its additional whole note collateral.

The heavier the Bell (90LBs > 30LBs), the louder (higher coupon) but less frequent the potental DAO repayment for new LBs or no growth LUSD. Each time a Loci Bell rings, new token principal is collected, but always in lieu of current income. Collection of Loci Bell principal is non-taxable according to US Internal Revenue Code and US Generally Accepted Accounting Principle. Loci Bells ring tax-deferred.

Let’s start at the very beginning like Julie Andrew’s might in The Sound of Music. Who are the Taco Shell DAO owners?

Loci Bells are instruments secured by a collateral package first established by the Loci Program featuring a foundation as mutual property owner, and a Texas corporation as borrower SPE, with a third Guardian SPE to completing the mutual ownership circuit is memorialized June 11, 2021.

Collateral secures repayment of DAO originated indebtedness. Loci Bell collateral features a promissory note payable to token holders. The mutual foundation is guarantor for DAO indebtedness, and mutual owner of DAO property with the mutual borrower. The Taco Shell foundation owns assets mutually [35% token vote, 1.11% of net cash], with all other equity retained solely by the corporate borrower [65% token vote, 98.89% of net cash], secures real property deeds, and preserves all forms of personalty (e.g. future income, fiat currency, crypto, web3 software property) according to Loci Program convenant.

DAO Borrower SPE Share Owners:

  1. Guardian SPE holds 1 GLOBAL share of the Borrower
  2. Foundation holds 1 GLOBALy share of the Borrower

A manager with no ownership interest in the DAO was appointed mortgage trustee. The co-trustee manager will appoint fiduciaries on behalf of individual associates on a recurring basis during normal prudent operations.

DAO Guardian Shareholders:

  1. Foundations holds 1 GLOBAL share of the Guardian SPE
  2. Borrower SPE holds 1 GLOBALy share of the Guardian SPE

A manager with no ownership interest was appointed non-member manager of the Guardian SPE. The manager will appoint Guardian fiduciaries on behalf of individual associates during the normal course of operations.

DAO Charitable Corporate Foundation:

  1. Volunteer directors have guided the DAO foundation organized in Delaware since 2018
  2. Token distribution will transfer DAO management to LG smart contract owners utilizing a web3 voting tool selected, withtally.com, to direct DAO activities along with semi-independent directors, managers, and investors.

A manager with no ownership interest was appointed non-member manager of the Guardian SPE. The manager will appoint Guardian fiduciaries on behalf of individual associates during the normal course of operations.

Now back to the beginning. Loci Mutual is a Taco Shell DAO that originates Loci Bells, mortgage-secured growth tokens to expand access to cost-effective housing, transportation, and good food. Together we are building the mutual ownership economy.

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Commercial residential real estate DAO building the mutual ownership economy

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Loci Guardian

Loci Guardian

starting up a DAO owning property mutually for DAO members and residents

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