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Ethereum Based Token ERN Made For The Real Estate Industry Announces Voting System

ERN is a token by Eurion Capital that allows its owners to vote on real estate plays. The firm is aiming for a minimum raise...
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ERN is a token by Eurion Capital that allows its owners to vote on real estate plays. The firm is aiming for a minimum raise in the range of $4.5 million.

This move is in response to a renewed push from crypto firms to make ” tokenomics real-world assets” — an endeavor that has had mixed results in crypto. Tokenomics refers to all elements that make a particular crypto attractive or valuable for investors. This includes token supply and utility.

The new token, which is Ethereum-based, from Eurion does not seek to grant investors ownership rights in Swiss skyscrapers or Swiss chalets like previous crypto realty efforts. It will instead approach an easier, more regulatory-complex use case: influence.

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ERN Token holders will be able to vote on Eurion’s investments

“We are not tokenizing assets so they don’t own anything,” David Niewiadomski, the CEO of the firm, told CoinDesk during an interview. He explained that the company’s focus is to give “decision-making” powers to token holders.

Niewiadomski explained to CoinDesk that the ERN token will be listed on Uniswap and will allow its secondary owners to cast an undisputed vote in Eurion’s investment decisions. Niewiadomski stated that the token does not constitute a security under U.S. law.

He stated that the firm has set a minimum target of $4.5million and that the total supply will not exceed 1 billion tokens.

According to the press release, the token won’t give ownership to its owners and will instead hold its value through buybacks that “will increase its floor price over time.”

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As investors select assets generate profit, a portion of this profit will be used for buying back tokens that cannot be sold. This will reduce the circulating supply. Niewiadomski explained that over time, the volume of assets that can be bought and not sold will increase as the portfolio grows.

To fund its real estate purchases, the fund will make use of token resales and royalties. According to the fund’s website, it will target both urban and sub-urban markets in Southern U.S.A, especially cities like Orlando and Tampa.

Felipe Rodriguez

Felipe Rodriguez

Felipe states he has super powers, some argue that case but he does come up with some very clear predictions. Felipe is based in the US and frequently travels to Brazil where he was born. He is a journalist of the future and has a portfolio of crypto projects he has worked with. Felipe always says "The future doesn't scare me as much as the past, crypto is here to stay but only time will tell where it will take us".
Felipe Rodriguez

Felipe Rodriguez

Felipe states he has super powers, some argue that case but he does come up with some very clear predictions. Felipe is based in the US and frequently travels to Brazil where he was born. He is a journalist of the future and has a portfolio of crypto projects he has worked with. Felipe always says "The future doesn't scare me as much as the past, crypto is here to stay but only time will tell where it will take us".

© 2022 The Daily Encrypt. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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