Withdrawing and Burning

After the listing has been funded, the Operator must request to withdraw funds incrementally, at each stage of construction of the floating property.

After the listing has been fully funded, the Operator will have a 'Building Period' which is a timeframe in which no tokens must be burned. This grace period typically lasts between 2 and 4 months.

After the Grace Period, the Operator of the floating property must now begin purchasing and burning Stead as compensation for time spent operating the floating asset. The floating asset is effectively being leased to the Operator at this stage.

After the agreed upon amount of time has passed, and the necessary amount of tokens have been burned, the floating asset will be granted to the Operator, along with a designated ownership NFT marked since creation of the listing to be handed over. The holder of this NFT is the legal owner of the property, and throughout the burn period of the asset the NFT will reside with Stead or any governing organization responsible for that particular floating asset, it will only be handed over at the end.

If you have already been approved as an Operator, in order to request to list a new property, simply click '+ Create A New Property' on your 'My Properties' page.