What is the SOON token?
Once a year we do a third-party appraisal of each of the RealT property, during this appraisal the 10% of RealT fees are removed from the total value of the tokens. That 10% of fees are replaced by the governance token.
During the creation of the governance token, we create the SOON.
The SOON token is our "temporary" token issue in the meantime, the SOON is frozen (it mean you can't swap it or transfer it), it has a fixed redemption value of $1 in governance tokens and will be replaced by the governance token when this one will be ready.
The nominal dollar value of the governance token will be set later
We invite you to watch the replay of our dedicated Community Call: