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Loci Bell Tokens Deliver Fixed Growth
Loci Mutual finances mutual property acquisitions with the proceeds from Loci Bells, a secured indebtedness of the DAO corporate Borrower, and guaranteed to be repaid by the DAO mutual owner, a charitable corporation.
Mutual DAO property includes the following categories of assets:
- USD bank deposits and crypto tokens
- Commercial software and IP featuing DAO tools and smart contracts
- Commercial residential real estate
- Commercial auto properties featuring auto fleets and dealer software
- Commercial food distribution properties including software businesses and real estate
Each property category is owned mutually by the DAO, but acts as collateral for a particular whole note indebtedness.
Loci Bell tokens are secured by a whole note, commercial deed of trust, DAO regulatory agreement, equity pledge, and mutual repayment performance guaranty by the DAO.
Loci Bells are bond-like, bearing $1 Loci USD face value, growth coupon (APR), and bear a terminal repayment date three years following whole note originaiton, created in three tranches with a particular repayment preference, coupon, and relative whole note share.
Growth tokens are available for use in two forms: non-growth instruments swappable for a particular type of collateral at initial mint (i.e. USD, USDC/T/DAI), or a fixed growth token with a secured interest in particular collateral (i.e. web3 asset, real estate).
Loci Bells are registered in three tranches equal to the whole note.
- 30LB 50% of whole note face value, $1.00 LUSD token face value
- 60LB 30% of whole note face value, $1.00 LUSD token face value
- 90LB 20% of whole note face value, $1.00 LUSD token face value
Bells hold a terminal Call Date three years following registration. Loci Bells are subject to Call by the DAO, but a 30-day, 60-day, or 90-day Notice of Intent to Call (repay) must be provided to holders in advance.
Loci Home tokens grow principal daily, financing startup activities and mutual property acquisitions short term
Coupon rate * Ticker Symbol
- $1 LUSD, 7.00% 30LBHOME20250211
- $1 LUSD, 9.50% 60LBHOME20250211
- $1 LUSD, 12.0% 90LBHOME20250211
CASATX -- Casa Cascade is a commercial single family property acquired during 2021 at a discount to market value to hold long term for capital appreciation and income
Coupon rate * Ticker Symbol
- $1 LUSD, 2.00% 30LBCASATX20240215
- $1 LUSD, 2.50% 60LBCASATX20240215
- $1 LUSD, 7.00% 90LBCASATX20240215
Each contract corresponding to a particular CMBT will have a unique contract address as soon as they become available.
MS160TX -- Mammoth Springs is a commercial multifamily development project ready for design and planning
Coupon rate * Ticker Symbol
- $1 LUSD, 3.00% * 30LBMS160TX20240215
- $1 LUSD, 3.50% * 60LBMS160TX20240215
- $1 LUSD, 7.00% * 90LBMS160TX20240215
web3 secured Loci Bells have a secured interest in the fee income of the Loci DAO. Each day, Loci Bells grow token principal tax-deferred.
111 million $1 face value ($1 LUSD) web3 Loci Bells were originated on June 11, 2021. Loci Mutual collected approximately 105 million Bells as proceeds from the sale of the Loci IP Assets (web3 assets) to the DAO borrower.
Web3 secured Loci Bells are available in three tranches. Each Loci Bell has a unique smart contract which parallels a conventional agreement among the DAO principals: Borrower, Property Grantor, and Guarantor.
Coupon rate * Ticker Symbol
- $1 LUSD, 6.00% * 30LBW320240611
- $1 LUSD, 8.00% * 60LBW320240611
- $1 LUSD, 10.0% * 90LBW320240611