Can you tell me how this project is "asset backed" when they are pulling money out of thin air giving out up to 25% bonuses?
Only the crowdsale tokens are "asset backed" (that's 51%) and on top of that you have bonuses up to 25%! These bonuses are not "asset backed" either.
They must have been called out on this before, no? I can't be the first who has noticed this. I don't have time to read trough 100+ pages to find their response to this. Someone knows?
Is this a question or FUD?
Here is your answer,
"THE REAL TOKEN AND RPP
Our system is built upon two units of value; our innovative cryptocurrency REAL Token which may be held in any Ethereum Smart Wallet and the internal, tradeable, asset-backed REAL Property Participation (RPP) for use on our Crowdfunding platform. The Real Estate Asset Ledger Token ("REAL) is a Blockchain secure digital asset with built-in vesting functionality. This cryptocurrency is built upon the Minime token developed by Jordi Baylina (Giveth), an established token standard for governance used in many major token sales such as Aragon and Status.
Real Tokens are minted via a Token Sale Smart Contract and can be held in any Ethereum ERC20 compatible Wallet. REAL Tokens will be tradable outside REAL platform, as they are an ERC20 Token with inherent value in the exchanges. Investors will also be able to use REAL Tokens for acquiring Real Estate Participations (RPP) which may be traded for liquidity or used to participate in our Crowdfunding Platform. This ecosystem frees consumers to participate in the Real Estate market without the traditional high barriers to investment. "
You will turn in your "REAL" tokens into RPP tokens, these will be used to invest in real estate.
The real estate platform is being built, but they are a month behind the roadmap.
He's referring to the info that starts on page 31 of the whitepaper. Only about half of what token holders funded is actually used for acquiring properties.
In the institutional world, fund sponsors only earn a promoted interest after certain return hurdles are reached. This helps keep interests aligned.
The REAL team is getting 20% of your money before they even buy a property.
Also, the CEO is getting a very nice salary with guaranteed raises over the next few years.