Tangible 🏠💙

Democratizing access to tokenized real-world assets. Now building on

[Tangible 🏠💙 @tangibleDAO]

USDR update:

Property auctions are near completion and we have a clear path to redemption established.

For more detailed info 👉
https://t.co/VIOQeq2B9s

[re.al @real_rwa]

The https://t.co/Yygt6iy7Kz chain has stopped producing blocks, and withdrawals are no longer possible.

✅Over 95% of funds were successfully moved off-chain. Most remaining assets are USDR in the redemption contract. We’ve taken a snapshot of the final state, including wallet and contract balances.

If you held USDC, USTB, USDR, or REETH on-chain or in the redemption contract, fill out this form for manual review and bi-weekly processing on Polygon:
https://t.co/4jR2N8mZmx

*Info on USDR redemptions on Polygon will follow soon.

[re.al @real_rwa]

⏳Less than 24 hours until @real_rwa closes permanently.

Please secure your assets today.

Chain closes at 10am UTC, Tuesday 29th July.

[re.al @real_rwa]

🚨Only 2 days until @real_rwa closes permanently 🚨

Users have less than 48 hours to withdraw and secure their funds.

[re.al @real_rwa]

🚨3 days left until @real_rwa closes permanently 🚨

⌛️Please make sure you secure your assets in time.

[re.al @real_rwa]

⏳Only 4 days left until @real_rwa closes permanently.

🚨Please make sure you secure your assets in time 🚨

[re.al @real_rwa]

⏳5 days left until @real_rwa closes permanently.

🚨Please make sure you secure your assets in time. 🚨

[re.al @real_rwa]

⏳6 day countdown until @real_rwa closes permanently.

Please secure your assets in time.

[re.al @real_rwa]

⏳7 day countdown until @real_rwa closes permanently.

Please secure your assets before next week.

[re.al @real_rwa]

⏳Two week warning.

Users have less than three weeks to withdraw their funds before @real_rwa closes permanently.

Please secure your assets before the deadline.

[re.al @real_rwa]

@real_rwa is shutting down.

Users have less than three weeks to withdraw their funds before @real_rwa closes permanently.

Please secure your assets before the deadline.

[Jag Singh @jagTNFT]

There is $18m USDR redemption contract pls pls withdraw in the next 29 days share this in all your group chats and retweet

[Jag Singh @jagTNFT]

Do you have dust stuck on @real_rwa ? Theres $200k+ stuck on bridges you have 30 days to withdraw.

Please withdraw all funds from the chain

[re.al @real_rwa]

⚠️ Important Announcement:

@real_rwa is shutting down.

The chain is now operational again and users have 30 days to withdraw their funds before @real_rwa closes permanently.

We’ll be posting regular countdown reminders — please secure your assets before the deadline.

[Tangible 🏠💙 @tangibleDAO]

USDR liquidation status:

Over the past several months the Tangible team has pursued several paths to liquidating the $USDR treasury.

First was to liquidate on chain in the form of UKRE; this was unsuccessful.

An attempt was then made to sell the portfolio off chain. It was presented to funds with the goal of receiving final offers to be received in December, closing the exchange in January.

Status on off-chain sales:

Several offers on the portfolio were received and of which the best credible offer was accepted. This offer was financing contingent and as a consequence of buyer delays, the financing fell through.

As a follow-up, a around of all-cash offers were pursued to speed up the process, however none came in at a reasonable price.

Proposed next steps:

A group of large and influential USDR holders has requested that Tangible discontinue attempts to liquidate the assets, proposing the following the solution instead:

1⃣ The redemption contract would be modified to redeem USDR for UKRE instead of USDC.

2⃣ Users would receive .87 UKRE per 100 USDR, meaning ~$87 of tokenized real estate value per 100 USDR (this is the coverage ratio after buyback costs, a breakdown will be provided at a later date).

3⃣ The Tangible marketplace would be modified so the base currency is UKRE. All TNFTs of properties backing USDR are listed on the Tangible marketplace and sold in UKRE. The UKRE received for these properties once sold on the marketplace is then burnt.

The benefit to this process is that large holders or people familiar with the UK real estate market can redeem the individual property deeds from the purchased TNFTs and sell them in the real world.

All properties and SPVs will be provided unencumbered and without charges or mortgages when redeemed.

Outstanding maintenance and vacancy reserves will be smoothed out across the portfolio (detailed breakdown will be provided at a later date) and the balances provided proportionally upon redemption to individual SPV redeemers.

USDR tokenholder vote:

A vote is live on the Tangible site giving holders the opportunity to accept or reject the redemption process proposed above.

1 USDR = 1 vote

The vote will be live for a week.

https://t.co/ha9zfPXD4Z

[Tangible 🏠💙 @tangibleDAO]

Total USDR: 44,249,558
Total Allocated (all time): 33,617,388
Allocated Percentage: 75.97%
Total USDC Distributed: 3,500,000
USDR burned: 3,888,889
Burned Supply %: 8.79%

[Tangible 🏠💙 @tangibleDAO]

USDR redemptions remain ongoing.

Over 75% of total supply (33 million $USDR) has been allocated to the redemption contract.

$3.5 million in $USDC has been returned to users.

Resulting in nearly $4MM USDR burned.

Start now: https://t.co/9V39TNBLEW

[Tangible 🏠💙 @tangibleDAO]

Total USDR: 44,249,558
Total Allocated (all time): 33,410,695
Allocated Percentage: 75.51%
Total USDC Distributed: 2,500,000
USDR burned: 2,777,778

[Tangible 🏠💙 @tangibleDAO]

USDR redemptions continue forward.

Over 33 million $USDR has been allocated to the redemption contract, over 75% of supply.

$2.5 million in $USDC has been returned to users.

With 2.77MM USDR permanently removed from circulation.

Start now: https://t.co/9V39TNBdPo