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🏡 TerraSteads: What are Street Resident’s Associations?

TerraSteads is an awesome upcoming project but you already know that… You’re here because you want to learn what Street Resident’s Associations (SRA) are because you’ve heard @soysource and @Spam_Misubi talk all about it but they haven’t explained what it is yet!

🏘 What are SRAs?

An SRA (Street Resident’s Association) is the concept of all of the residents on a street coming together to bring value to their street of steads for the common goal of increasing sales volume and floor price in their area. SRAs are provided with the necessary tooling & funding to build out their own little sub-community and become the most sought after street in TerraTown!

🤷🏻‍♂️ What’s in it for the residents?

Residents will be encouraged to make their street popular because they want their Stead(s) to have a higher resale value and by making their street more valuable to consumers, there will be more demand for steads on that particular street.

🛠 What tools and funding are provided?

TerraSteads doesn’t exactly fund you; we help you fund yourselves! Here’s the gist of it: each street has a “Vault”. A 50% cut of the secondary royalties from each street will be sent back to their “street bank”. The street can then decide how to allocate these funds through a vote utilising the upcoming GraviDAO vaults. We will also provide $STEAD grants to communities that we think are making a huge difference and are building something that brings attention to TerraSteads as a whole.

A street may vote that they want to stake the vault balance for returns that will be shared among residents, maybe they want to sweep floors and mint cool projects or invest in the future of DeFi! Anything is possible really because, at the end of the day, the power is in the street resident’s hands! A transaction will only be created if 60% of the cast votes are in favour. Each stead will equal one vote.

📋 Leading Streets Leaderboard

What makes everything better? A little bit of friendly competition. We will host a leaderboard where the treasury balance of each street can be tracked and ranked. Which streets will fight for the top spot? Who will rise to the top and who will plunge to the bottom? It’s going to be an interesting experiment for sure!

🔖 Summary

In summary, TerraSteads SRAs are the concept of sub-communities within each street of TerraTown. We imagine some really awesome stuff being built by fellow community-members. Exclusive alpha-groups, NFT investment groups, DeFi investment groups, royalty share groups… So many opportunities and such an amazing platform to do it!

I invite you to come & share your ideas for your street on our Discord @ https://discord.gg/e6gBgsChMS.

Learn more about TerraSteads and what we’re trying to achieve on our website & follow us on Twitter @TerraSteads.

What will you do on your street? 🔎

This article is written by soysource — a founder of TerraSteads.

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soysource

soysource

add me on twitter @soysourcecrypto