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Real property lending, tokenized. Depositors fund short-term bridge loans secured by first liens on real property in Latin America and South Florida, and hold shUSD, a vault token built on Robinhood Chain.
From borrowers. Property owners pay 13–15% on bridge loans. After fees and the split, staked shUSD targets an 8% monthly cash yield. There is no rent and no property ownership behind it.
No. 8% is a target, not a promise. The actual yield depends on loan performance, how much of the vault is lent out, and fees.
No. Staked shUSD receives the monthly cash yield for the time it was staked. Unstaked tokens accrue value instead.
After an initial lockup, sell shUSD on the secondary market, with liquidity from LPs as well as Shores. There are no redemptions, and the price can be below NAV. See Exit.
Each loan is secured by a first lien held for the vault. The servicer works the loan and, if needed, enforces the lien. A first-loss reserve absorbs losses first; losses beyond it reduce NAV. See Defaults and impairments.
Maple pays about 5% and lends against crypto collateral. Shores lends against real property with first liens, and borrowers pay 13–15%. See Why Shores.
Anyone who passes identity checks and is not in a restricted jurisdiction. Persons in the United States and Australia cannot deposit.
Staking is planned to earn points. See Points.
Planned for 24–36 months after launch.
An independent audit is required before launch. [TBD: audit firm and report link]