Terra Land — How it works?
Many people ask how Terra Land works ?
Terra Land is a global marketplace for the purchase of whole properties or individual pieces of property. It is based on blockchain technology, more specifically on the Terra blockchain.
To explain it to you, we would like to present a graphic describing the whole process.
Investment process step by step:
- Select the real property that you are interested in at www.Terraland.io
- Determine your investment amount, starting from the minimum amount for a given apartment and up to 100% of its value, which would make you the sole owner
- If you have not done that before, at this stage, you need to complete the entire ac- count registration process, including KYC procedures.
- Sign the electronic preliminary shares purchase contract for the given real property and make payment to the smart contract address.
- After collecting the full amount necessary to purchase a given real property, the smart contract closes the funding stage and sends the tokens that confirm your rights to the real property to the address you indicated. Should the appropriate amount not be collected, money is returned to the owners
And last thing.
Let us divide the functioning of the platform into two stages :
1 Terra Land as a marketplace to buy property
2 Token native Tland
1' In the first stage, there will be investment-grade commercial properties. The kind that will generate a rate of return for investors without maintenance. Transactions on Terra Land will be able to be made via stablecoins.
2' Terra Land has a native token called $TLAND.
It is directly linked to the operation of the platform. $TLAND is a deflationary token, i.e. 1% of the value of sales on the primary market will go towards buying and burning $TLAND. Moreover, when the secondary market is launched, which will already take place in the next stage of the platform’s development, 50% of the revenue from sales on the secondary market will be allocated to the purchase and burning of the $TLAND token. Users who choose to staking a $TLAND token with a single asset will also be promoted with additional $TLAND tokens. $TLAND token holders will be entitled to vote on important aspects of the platform, such as :
- Choice of properties to offer
- The amount of commission on the secondary market and others.
An added value that will also be available on Terra Land is a property booking service where you can pay for your holiday with your $TLAND token.
In the near future we will be introducing another feature of our platform, but more on that in the following announcements