If you have added the AirDAO network using the details in the “How do I add the AirDAO Network to my Wallet?” FAQ, simply click the “Connect Wallet” button and select the wallet provider you want to connect with.
When connecting your wallet to the platform for the first time, accept the two prompts you get from your wallet in order to continue.
Each property has a minimum term over which your expected 15% annual return is calculated, you can find it on the property card but alongside more detailed information when you download the deck for a specific property. The most common Term Times going forward will be 12 and 18 month terms, with expected returns of 15% and 22.5% respectively. The aim is to develop and sell the property within the term time. Notably, the raising time is not included within the Term Time.
As for the first development listing, it has a 6 month term as it is more than 75% complete. The return for this term is expected to be 7.5%.
You can add the AirDAOnetwork to your EVM compatible wallet, such as MetaMask, by going to “Add Network” then, “Add a Network Manually” and filling in the following details:
In order to invest in property development listings on Modus, KYC needs to be completed for regulatory reasons. As your KYC profile is associated with your wallet address, you will need to have your wallet connected before you begin the process. Click on “Start KYC” on the homepage, this will take you to the KYC page where you can verify yourself through our partners at SumSub. You will initially be asked a few questions in regards to your financial literacy and be asked to certify yourself. The last steps to complete are uploading a photo of your ID and a proof of address, as well as completing a liveliness test. It can take up to 24 hours to verify. All your personal information is securely stored with SumSub.
Investors in property development SPVs cannot trade their non-listed shares on any public market, limiting the option to sell them. Withdrawal of the investment is typically possible at the end of the specified term. However, delays in property development or market downturns may extend the selling process, requiring investors to hold onto their investment for a longer period. Investors do not have the flexibility to withdraw their investment at any time.
Investing in shares of a Property Development SPV differs from depositing money in a bank because the funds are directed to finance property projects rather than being deposited into a bank account. Additionally, investments in SPVs are not protected by the Financial Services Compensation Scheme (FSCS), unlike deposits in banks.
Cryptocurrencies in general are renowned to be rather volatile therefore, to make transactions more predictable, the Modus dApp will handle the acquisition of Property Development SPV share purchases and investment returns in the stablecoin $USDC.
Each $USDC is backed by cash, equivalents, and short-duration U.S. Treasuries, so that it is always redeemable on a 1:1 basis for US Dollars. $USDC is simply a digital dollar and is therefore pegged to the USD. However, it can easily be used across the world and across blockchains, with near instant settlement. Although there are other Stablecoins available, $USDC has been chosen because it is issued by the regulated financial institution Circle and sponsored by the publicly listed exchange Coinbase.
Modus and its affiliates mitigate investment risk by ensuring that the SPV holds the property title, which is registered with HM Land Registry.
In cases of under performance by the property developer, Modus can intervene to protect shareholder equity and strive to realise project profits. In such instances, the developer forfeits their shareholding and is no longer involved due to a breach of terms.
Modus currently operates on the AirDAO blockchain which is powered by its native token AMB. AirDAO is a community-governed EVM compatible L1 blockchain and ecosystem of web3 decentralised applications (dApps).
If you don’t have a wallet, click on the “Connect Wallet Button” and select one of the wallet options (we recommend MetaMask). Follow the instructions on how to set up your wallet. Then add AirDAO as a network using the details in the “How do I add AirDAO Network to my Wallet?” FAQ.
Remember : never share your recovery phrase or private key with anyone. Modus nor any other legitimate dApp will ever ask for this.
In the initial property development listings on Modus, individuals can invest as much as they like on a first-come first-served basis when the remaining amount of shares still permit.
Future plans include the introduction of the $MODUS Token which will represent your Modus Membership. The more $MODUS you have the more that you are able to invest in each property development. After further feedback from the community we will decide whether to launch our utility token with these features.