❓Frequently Asked Question
We've put together some of questions that has been asked a lot by our community
What currency is used to purchase properties, and why?
To purchase properties on Sky Hause, transactions are conducted using stablecoins (USDC/USDT). This approach ensures stability, as we convert these funds to fiat currency to complete transactions with sellers. It's crucial that the value remains consistent from the opening to the closing of the purchase period.
Why not use $SKYH for purchases? What are the utilities of this token?
While $SKYH is not used directly for property purchases due to the need for stable value during transactions, it plays several vital roles within the Sky Hause ecosystem:
Access and Participation: $SKYH acts as a "ticket" for participating in property purchases. Users must hold a certain amount of $SKYH, which varies by property. More details here: How It Works.
Secondary Marketplace: $SKYH is the primary currency for transactions in our secondary marketplace.
Yield Payouts: Rental yields are paid out in $SKYH, converting fiat rental income into $SKYH on the open market for distribution to NFT holders of the specific property.
Buyback and Burn: A 7% fee from each fully funded property purchase includes a 2% allocation for $SKYH buyback and burn, enhancing token value and scarcity. Further information is available here: The Company Behind Sky Hause.
Staking: Users can stake $SKYH in our DApp to earn rewards.
What is the property purchasing process?
The process begins with Sky Hause issuing a letter of intent to the property owner, negotiating terms such as price and the period the owner will hold the property. We then place a down payment to demonstrate our commitment. The property is listed on our DApp, and once 100% funded by the community, we pay the remaining balance to the owner. Transparency is a priority, including proof of fund transfers.
Concerns about token distribution among the top 10 holders have been raised. How can you address this?
Concerns regarding token distribution are understandable. Most significant allocations are securely managed through contracts for specific purposes:
Community and Marketing: 20%, vested to support growth and engagement.
Team and Advisors: 15%, time-locked to align with the project's long-term success.
Staking and Rewards Pool: 15%, vested to incentivize community participation and investment.
Reserve Fund: 10%, readily available to address future needs and opportunities.
All allocation details, including contract addresses, are transparently provided here: Tokenomics.
Will Sky Hause Consider Expanding Property Offerings Beyond Bali and Southeast Asia?
Absolutely. While Bali was chosen as our initial location due to its unparalleled beauty and the significant potential we see in the island, it is just the beginning. Post-pandemic, Bali has experienced a remarkable recovery in tourism. According to Tjok Bagus Pemayun, Head of the Bali Tourism Department, international tourist visits to Bali as of December 26, 2023, exceeded 5 million.
He detailed, "From January to December, or as of December 26, 2023, there were 5,232,751 international visits. Domestic tourists accounted for 9,459,259 visits." This resurgence underscores Bali's enduring appeal and serves as a strong foundation for our operations. However, Sky Hause is keenly exploring opportunities to expand our property portfolio to new locations around the globe, aiming to offer a diverse range of investment opportunities in prime real estate markets to our investors.
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