Dynasty’s model foresees the use of rent to repurchase tokens. Photo: Alex Shutin, Unsplash.
A Dynasty began this Thursday (30) the first buyback for the planned burning of the D¥NS cryptocurrency, tokens that have a reference in high-end properties. The operation started in Dubai with the purchase of tokens in the secondary market. On the 9th, 334.8 D¥NS (US$ 31,766.00) will be burned.
Due to regulation in Brazil, the company established itself in the Zug Valley, a cryptoactive hub in Switzerland. The currency, according to Dynasty, resembles a currency like bitcoin. This is because it is not backed by real estate. Each D¥N is equivalent to U$DT 95 (stablecoin tether).
Dynasty’s business model is to sell tokens D ¥ NS and use the proceeds to buy high-end commercial real estate in different countries. Then he predicts that with the rent income, he will repurchase and burn the tokens. Thus, it creates scarcity and tries to value the cryptocurrency in the market.
The repurchase operation “is a small step towards consolidating our concept, but it will increase as we acquire more properties around the world. We are currently striving to identify and negotiate the purchase of more properties in major international centers, such as Dubai and Europe”, said Eduardo Carvalho, founder of Dynasty.
Dynasty created tokens in 2019
The cryptocurrency was created in 2019, three years after the company, and the sale took place first to private investors. Last July, it was launched on international platforms focused on Europe and Asia, such as Exmarkets. In total, 21 million tokens will be offered for sale through public and private offers in the coming years.
The first property is an office of over 1,000 square meters on Avenida Faria Lima, one of the financial centers of São Paulo. The amount was R$27.7 million.
Although headquartered in Switzerland, Dynasty has set up an office in São Paulo. In this way, it managed, for example, to reduce certain labor costs. Furthermore, there is already a basis here if and when market regulation is more open to tokens like the company’s. Yesterday, CVM revealed that it chose three projects for its sandbox, two being tokenization.
*Updated at 4:22 pm on 10/17/21 with information on D¥N burning values.