Investor Onboarding
How can I get an invitation to subscribe to GreatX?
To receive an invitation to subscribe, click on the "Get Invited To Participate" buttons found on the GreatX website. Upon registration, you will get an email invitation.
If I get an invitation, does that mean my subscription to GreatX is confirmed?
No. You will be notified when your subscription is confirmed.
What are the steps I must go through to subscribe?
Subscribers will be invited by email to participate. Once approved to participate, investors can purchase tokens through an approved wallet either on the GreatX site or through a designated broker-dealer. Select cryptocurrencies will be accepted.
Can I subscribe using my company name?
Yes, both individual investors and companies can subscribe
Can I subscribe on behalf of someone else?
No. All investors must subscribe on their own.
Who will know if I qualify to subscribe to GreatX?
KYC reviews will be done to qualify participants. Also, limited supply is expected so tokens will be allocated on a first-come, first-serve basis.
What’s the minimum investment required to participate?
We require a minimum investment of $30,000 USD to subscribe and participate.
Can Greatx limit the amount of money I can invest? Is there a maximum amount or cap on investment?
There is no cap on the amount of investment.
What currencies can I use to purchase GreatX tokens?
Selected cryptocurrencies will be used to purchase GreatX tokens. The currency will be accepted through a digital wallet.
How do I set up a digital wallet? How do I track what’s in my digital wallet?
There are multiple options for digital wallets. Potential subscribers must set up an account with a digital wallet provider. You can track the assets in your digital wallet by signing into your account online or on the app.
Is there a minimum participation level necessary for the program to proceed (what happens if only a small number of investors subscribe? Will the program still go forward?)
GreatX anticipates substantial demand. Tokens are issued at the closing of the subscription for the amount raised.
What is the per token price? Can I get any discount on the token price?
The initial price per token is $1.00 USD. There are no discounts on the token price.
How is the token price determined?
The initial token price will be set by the Issuer based on the value of the UST backing. Once tokens have been unlocked, the token value will be determined in real-time by the GreatX market.
What is the difference between NAV and par value? How is NAV calculated?
The NAV or net asset value of the unassigned token is equivalent to the token $0.20 plus any treasury earnings. The NAV of the linked token is the floor return, any additional profit participation and any asset appreciation. The par value is the value of the token at issuance which is $0.20 per token.
When is GreatX expected to launch?
The launch is expected to be in Q2 2025.
If there will be multiple subscriptions, how frequently will new subscriptions open? If a subscription is oversubscribed, will shut-out investors be given priority for future subscriptions?
GreatX expects there will be three waves of open subscriptions with an anticipated 60 days between subscriptions. Subscriptions are on a first-come-first-served basis.
Is my information related to the subscription protected?
Yes. All personal information will be encrypted and will remain strictly confidential.
GreatX Product Structure
Will the program and its affiliates have due diligence or be vetted in any way? How do I know I am not inadvertently engaging in illegal activity like money laundering, etc. when I subscribe?
All program participants undergo standard KYC screening and will produce audited financials. Counterparties will be institutional grade. At no time does the Issuer collect the proceeds of the token sale. Proceeds will be held in a trust custodial account.
Is this program registered or regulated?
GreatX will be regulated within the jurisdiction in which it is situated. Please read the Offering Memorandum for more about the registration and regulation.
Am I buying a timeshare?
No. This is not a timeshare investment. It is an investment backed by US Treasuries for principal investment protection with upside potential presented by the income stream and value appreciation of the chosen hotels.
Am I buying a REIT?
No. This is not a REIT investment.
Am I investing in a hotel fund?
No. This is not an investment in a hotel fund. It is an investment backed by US Treasuries for principal investment protection with upside potential presented by the income stream and value appreciation of the chosen hotels. The title of the hotels will not be owned by token holders, but token holders can receive a pro-rata share of hotel profits and property appreciation.
What does economic ownership mean?
Economic ownership means you are entitled to a portion of the operating profit and value appreciation generated by a property of your choosing, in proportion to the size of your investment.
How is this program different from investing in a REIT or Timeshare?
A REIT is owning a share of the real estate investment trust that is a tax structured entity that invests in real estate and must pay a majority of the profits out in dividends on a yearly basis. A timeshare is shared ownership generally in vacation real estate that gives the ownership allocated time each year to use the property. The GreatX structure is a principal-protected investment that once pledged to a specific hotel, will share the upside associated with that hotel.
Can I get a legal ownership document?
Economic ownership will be evidenced by a smart contract. Legal documents will explain the economic ownership that is programmed onto the smart contracts.
Am I responsible for paying taxes for the GreatX token?
GreatX investors should consult with a tax/accounting professional to determine the tax implications of their investment.
Can I write off depreciation for the economic ownership of the hotel?
No. Only the legal equity owner of the physical property can write-off depreciation. The GreatX token gives the opportunity for economic ownership not legal, physical equity ownership.
What are the targeted returns of the program?
Targeted annual earning returns are 15-18% for tokens assigned to hotels not including the potential for hotel appreciation earnings. Tokens that are not assigned to hotels will receive a 2% annual return.
What does it mean to “own a room” on the platform?
“Owning a room” on the platform means being contractually entitled to receive the economic benefit in the form of a proportional share of the net operating profit and value appreciation associated with that room.
Am I able to own a hotel room legally?
“Ownership” in the GreatX program refers to “economic ownership” and is different from equity ownership. Both economic and equity ownership is legal.
What does “economic ownership” mean?
“Economic ownership” on the platform means being contractually entitled to receive a proportional share of the net operating profit and value appreciation associated with that room. It does not mean equity ownership in the property.
How is my investment evidenced? Legally enforced? What is a smart contract?
The offering memorandum and fund documentation for the GreatX tokens will be available and are legally enforceable. A smart contract is a programmable language that is used on blockchain securities to automate the execution of an agreement.
GreatX Tokens
What is the total number of tokens being issued? Is the number of tokens capped?
The total number of tokens minted will be capped at 5 billion. 360 million tokens will be made available in the initial offering
What is the per token issuance value? How is it calculated/determined?
The per token issuance value is $1.00 USD. The per token issuance value is determined by the value of the US Treasuries backing the token.
Will the issuance price/base price per token ever change?
The price value at issuance per token will not change. As the properties appreciate and generate more income, the value/price of the token may change given what the market is willing to pay for the perceived and accumulated value.
Why is the base price per token so low?
GreatX is targeting to democratize global real estate investing. The low base price per token makes the GreatX platform accessible to a broader investor base.
Can the base price ever go to zero?
The price of the GreatX token at issuance is its face/par value. The secondary price is determined by what one will buy and sell the token for. Since the token is principal-protected by the US Treasuries and can receive income streams from the hotels, it is unlikely that the value will drop. However, if there is a forced sale for reasons outside of the token economics, a seller may choose to accept a lower price for the token than the base price, it’s purely on the decision of the token holder.
Is there any discount sale of the tokens? Is there any early bird offer or discount?
Due to the overwhelming demand for subscriptions, there will not be any discount sale of tokens or early bird offers. Moreover, all tokens are 100% backed by UST, there won't be any discount price on the UST.
Are there any Token Drops?
Due to the overwhelming demand for subscriptions, there will not be any Token Drops.
What is the schedule for token issuance?
The tokens will be issued starting from Q2 2025.
Will there be any sudden decreases in the token price?
The price of the GreatX token at issuance is its face/par value. The secondary price is determined by what one will buy and sell the token for. Since the token is principal-protected by the US Treasuries and can receive income streams from the hotels, it is unlikely that the value will drop. However, if there is a forced sale for reasons outside of the token economics, a seller may choose to accept a low price for the token.
Will I be able to buy tokens at a discounted price outside the market? If so, how?
The price of the GreatX token at issuance is its face/par value. The secondary price is determined by what one will buy and sell the token for. If a seller has reasons to exit the investment, that seller may choose to sell the GreatX tokens below par.
What’s the difference between distribution tokens vs subscription tokens?
Subscription tokens are purchased unlocked in connection with initial investments in the program. Once an investor uses an unlocked token to acquire a hotel room, the token then becomes locked. Distribution tokens are provided to investors based on earnings from hotel investments. They are provided to the investors unlocked and can be redeemed or used to acquire additional hotel rooms or other assets.
When will distribution tokens be issued and what is the process for issuance?
Distribution tokens will be unlocked in connection with earnings distributions every year.
Are distribution tokens also backed by US Treasuries?
Yes. Once a token is unlocked it will be backed by US Treasuries regardless of whether it is a subscription token or a distribution token.
Do distribution tokens also come with capital protection and buyback?
Yes, distribution tokens have the same characteristics as the original subscription tokens. They are backed by US Treasuries and come with the buyback.
How does the token buy-back work?
After year 4, the issuer will have the option to buy back 10% of the GreatX tokens. Token holders can make the Issuer aware that they are willing to sell tokens. It will be up to the discretion of the Issuer which tokens and how many will be bought back. If less than 10% are bought back in a particular year, then more than 10% can be bought back in the following year.
What happens to tokens that are bought back?
All tokens that are bought back by GreatX will be held in the GreatX treasury.
What is the source of income for buying back the tokens?
GreatX will use a combination of investment earnings generated by the US Treasuries, the hotels, and its own funds to buy back tokens.
When and where will the tokens be listed?
The tokens will be listed on large crypto exchanges as well as the GreatX marketplace. This will be announced and updated periodically.
Do I need a special wallet to store these tokens, or can I use my existing wallets?
The tokens are ERC-based and can be stored in existing wallets that are compatible with storing tokens.
Can I use the tokens to subscribe to NFT?
No. GreatX tokens cannot be used to subscribe to NFTs; however, they can be converted to cash or cryptocurrency and then used outside the GreatX platform. GreatX is targeting to create interoperability in phase 2.
Can I borrow against my GreatX tokens?
GreatX is not expected to offer leverage against the tokens. GreatX will enable this in the Future.
Is the token, its value or the UST insured?
US Treasuries are backed by the full faith and credit of the US Government.
Are free tokens issued to anyone?
Due to the overwhelming demand for subscriptions, no free tokens will be issued to anyone.
Is there any utility value associated with my tokens?
Yes. GreatX subscribers who have linked their tokens to a specific hotel are entitled to a 7-night stay each year in a GreatX hotel of their choice, subject to availability. Please see the Offering Memorandum for more specific information.
How do I make reservations to use my annual hotel nights?
Token holders will be able to make reservations for the utility of the tokens through the GreatX marketplace.
Am I limited to hotels I am linked to, or am I able to stay at any hotel in the GreatX program?
The utility value of GreatX tokens can be used to stay at any hotel that is part of the GreatX program. Please see the Offering Memorandum for more specific information.
Am I able to pay for additional rooms or additional nights?
Yes. You can pay for additional rooms or additional nights, subject to availability.
Are GreatX investors offered special rates/discounts at GreatX program hotels?
It is in the best interest of the GreatX holders to maximize the average daily rate of the hotel. Therefore, outside of the token utility of 7 room nights a year, the room rates will be the best rate available and not specifically discounted for the token holders.
Can I sell or transfer the utility value of my tokens to someone else?
Yes, the utility value can be transferred.
What happens if I am unable to use my hotel nights in any given year? Do they accrue or do I lose them?
The hotel nights do not carry forward. They are lost if not used, sold, or transferred within the calendar year.
Do the tokens have any use or economic or utility value outside the GreatX platform?
The economic and utility value of the tokens is available only within the GreatX platform.
Will I have real-time data on the value of my investment?
Investors can use the Growth Calculator on the GreatX site at any time to calculate the value of their investment.
US Treasury Backing
What happens to the money that’s invested to buy tokens?
All (100%) money invested to buy tokens will be used to purchase US Treasuries.
When will the invested money be used to purchase US Treasuries?
Within 15 days from the closing date of the subscription, the money will be invested by the Issuer in 10-year US Treasury Notes.
How will I know my money has been invested in US Treasuries?
GreatX uses institutional-grade counterparties and will provide audited financials. At no time does the Issuer hold the money raised from the token sale.
What type of US Treasury securities will be purchased?
10-year US Treasury Notes will be purchased.
Will investors have a schedule of/information on the specific US Treasuries held by GreatX?
Yes. GreatX will publish and report on the trust’s holdings. More information on US Treasury Notes can be found on the US Treasury website
Capital Protection
Is my capital 100% protected?
Yes. The principal invested in the GreatX platform is fully protected by the investment in US Treasuries.
Who guarantees my capital protection?
The capital protection is guaranteed by the US Treasuries backing the GreatX tokens. The US Treasuries are backed by the full faith and credit of the US government.
Is there another protection or insurance protecting my principal or is the protection limited to the US Treasuries?
Please read the Offering Memorandum to learn more about insurance protection.
If the value of my specific property declines, will my principal still be 100% protected?
Yes. The principal is fully protected, regardless of the performance of the specific property.
If I trade my tokens in the secondary market, will my principal still be 100% protected?
The market will determine the price at which the token trades. If you decide to trade at a price below par, that will entitle the buyer to a higher return since the GreatX token is principally protected by the US Treasury backing.
If I sell my hotel asset-linked investment via auction will my principal still be 100% protected?
The auction will determine a market price. There is no guarantee that the secondary buyer will choose to protect the initial investment. However, the GreatX token does guarantee full principal repayment at maturity.
If the token issuer goes bankrupt, will my principal still be 100% protected?
Yes, the tokens are 100% backed by US Treasuries.
What will happen if the US Treasuries lose their value?
The value of US Treasuries may change over time with changes in interest rates. The final principal payment and interest rate of the US Treasuries are guaranteed by the US government. Therefore, fluctuations in the value of the Treasuries do not affect the protected principal.
Income/Earnings
How does GreatX ensure the Treasuries will generate enough money to guarantee the floor rate of interest?
The US Treasuries will generate the treasury rate of interest which will be published and defined at the time of purchase. The floor rate of interest is delivered by the profit of the hotels. The GreatX experienced management team is comfortable guaranteeing the floor rate of interest from the hotel profits.
Where will I find my earnings information?
All earnings information and investment summaries can be found on the GreatX website.
How are annual earnings calculated?
Cash flow profits from the hotels that are shared as earnings are revenue after expenses are taken out. The calculation will be transparent and available to view on the GreatX site.
How and how often are the hotels valued?
The hotels are valued annually via an independent appraisal.
Will valuations be available to investors for review? How will I know the value of the property?
Investors will have access to property information including appraisals and any other valuations that have been completed.
How will I know about my distribution?
All account information can be tracked through the GreatX site.
How will I get my distribution?
Distributions will be added to your digital wallet.
Once earnings are distributed, can I convert them from my digital wallet to cash?
Once earnings are distributed, you can convert the tokens to cash.
Will operating profit earnings and value appreciation earnings be distributed at the same time?
Operating profit earnings are distributed annually. Appreciation earnings are determined annually and are tracked in each investor’s digital wallet. Cumulative appreciation earnings are paid out upon any sale or liquidation of the underlying property, sale of a linked investment via auction on the GreatX site or upon maturity of the underlying Treasuries.
What happens if investors disagree/dispute calculations of profit or value?
All calculations of profit and value will be detailed on the GreatX site and verified by a third party.
How often are earnings distributed?
Earnings are distributed annually.
How are earnings distributed (in the form of cash, tokens, cryptocurrency)?
Earnings are distributed in the form of GreatX tokens.
How will I know the distribution amount I am entitled to receive?
All account information will be detailed on your account on the GreatX site.
Trading/Redeeming Tokens
Am I able to trade tokens that are linked to specific properties? Can I trade tokens that are already linked?
Tokens that are linked to specific properties can be sold via an auction of the specific room on the GreatX site.
How much liquidity will there be for the tokens and/or hotel-linked tokens?
The liquidity will be a function of the number of subscribers in the GreatX program.
Will the value of my tokens change over time? Will I be able to track token value in real-time?
Yes. It is expected that the value of your tokens will increase over time based on the economic and utility value ownership benefits.
Will I have information regarding secondary market trading activity? (Volume, pricing, etc.)
As per the listing exchanges, all information will be disclosed.
Investing in Hotels
How will I know which hotel assets are available for linking?
All hotels that are available for linking will be listed on the GreatX platform along with the specific number of tokens per room that are required to connect to the hotel.
How many hotels will be part of the program?
We expect the program to have 110 hotels with 12,000 aggregate rooms.
How often will new properties be added to the program?
Properties are anticipated to be added to the platform on a monthly basis for the first 12 months. Thereafter, properties may be sold or added at the discretion of the Issuer who aims to act in the best interest of the token holders.
Can properties be taken out of the program once they have been added by GreatX?
GreatX reserves the right to remove hotels from the program.
Can I assign my investment to someone else?
No. Investments cannot be assigned to someone else; however, GreatX investors are able to sell their investment via auction on the GreatX platform.
Can I bequeath my investment as part of my estate planning?
Please consult your estate planning expert to discuss the bequests of your GreatX investment.
What other property types will the platform be adding?
In addition to hotels, we expect to offer multifamily housing, student housing and land assets to the platform as the program expands.
Can I buy GreatX tokens and keep them without linking to any assets?
Token holders can buy the GreatX tokens without linking them to any asset but will forgo the additional return the asset linkage provides.
Can I use GreatX tokens for any purpose other than asset linking?
GreatX tokens can also be sold and traded.
How can I assess the past performance of the properties?
Investors will have access to at least 2 years of operating history for program properties.
Can I get access to property ratings and rankings on any public websites?
Public information can be accessed by the token holder. GreatX will provide past financials for the properties and industry reports as available.
How can I calculate the future performance potential of the properties?
Token holders can do due diligence on the properties and project future earnings. Past performance will be provided on the hotel assets. If the token holder is not comfortable with hotel cash flows, they can speak to an outside consultant to review the properties.
Property Discovery
How can I connect my GreatX token to specific hotel assets?
The GreatX website will show the available hotels and a user-friendly process to link the tokens.
What if I don’t know about hotels? Will I still be able to make a good investment decision?’
If you do not know about hotels, please consult with your personal investment advisor prior to investing.
What property information will I have to help me make my investment decision?
Investors will have access to at least 2 years of operating history and an independent appraisal for all properties offered on the platform.
How often is the information updated?
The property information will be updated on a quarterly basis.
If I have a greater tolerance for risk, will I be able to determine which properties have the greatest potential for income generation and or value appreciation? (will hotels be “ranked” in any way)
Historical cash flows will be made available for all hotels available for linkage. Token holders can assess which hotel fits their risk profile. When other property types are added to the platform, the token holder can similarly decide which property type fits their risk profile.
How accurate will operating information from the last few years be given the market disruption from COVID?
Hotel cash flows were disrupted in 2020 and 2021 due to COVID. Historical information will be provided as available, for 2019 which is prior to the COVID stress.
Hotel Management Information
Who manages the hotel?
All the hotels will be managed by an affiliate of the Issuer who has extensive experience with select-service hotels. The management has been in the industry for three generations and currently manages 400 hotels in the US.
Will the program include multiple properties in the same market? Will hotel assets in the program compete against one another for business?
Hotels will be acquired with diversity in mind. It isn’t expected that one will cannibalize the business of another. All hotels will have been in operation and have historical cash flows available to make the decision for linkage.
What happens if the hotel I am linked to is destroyed by a casualty event? Taken by condemnation? Damaged by an earthquake? Closed for renovation, COVID, some other reason? Loses its brand/flag affiliation?
The hotels have casualty and business interruption insurance that should protect the property in the event of an unexpected event. Renovations for hotels are planned in advance and will be announced. If unexpected economic stress happens, for example, COVID, the management will make best efforts to manage the cash flow of the hotel.
Are the underlying properties leveraged (mortgaged) or are they owned free and clear?
GreatX will have the right to obtain mortgages on the underlying properties; however, leverage will be limited to 70% of the asset’s value.
What happens if there is a default on an underlying mortgage?
If there is a default on the underlying mortgage, the underlying mortgage lender will have the right to exercise its remedies. However, regardless of this possibility, due to the capital protection offered by GreatX, token holders will never receive back less than 100% of their principal investment.
What happens if there are liens on the property (tax liens, etc)?
All of the hotels purchased and added to the GreatX portfolio will be free and clear of liens. However, the Issuer is able to mortgage the properties.
Can the hotel I am linked to be sold during my investment? If yes, what happens to my investment?
GreatX reserves the right to sell program properties at any time. To the extent an asset is sold, all token holders that are connected to that asset will receive any amounts due at the time of sale.
Who is responsible for paying the expenses associated with operating the properties?
GreatX, as the equity owner of the property, is responsible for paying all expenses associated with operating the property. GreatX subscribers will NOT be liable for any of these costs.
Who pays the fees and expenses associated with acquiring new properties to add to the program?
The GreatX trust buys the properties and assumes the cost of acquisition.
What happens if the asset I have invested in is not performing well?
Regardless of the performance of the underlying property, the investor principal will always be protected by the US Treasuries collateral backing the GreatX tokens.
Fees and Other Costs
What fees will I be charged to participate in the program?
There are no fees associated with participating in the program.
Are there initial subscription fees?
There are no fees associated with subscribing or holding tokens in the GreatX platform.
Are there ongoing fund management/fund administration fees?
No. There are no ongoing fund management/fund administration fees.
Are there fees associated with currency exchange?
There may be fees associated with currency exchange. Any fees will be disclosed prior to the execution of the corresponding transaction.
Are there fees associated with redemptions? Exchange of wallet earnings to cash?
There may be fees associated with the exchange of wallet earnings to cash. Any fees will be disclosed prior to the execution of the corresponding transaction.
Are there fees or profit-sharing sums charged from my earnings?
No, there are no fees or profit-sharing sums charged from participants’ earnings.
Are there fees to trade my tokens?
There may be fees associated with trading tokens. Any fees will be disclosed prior to the execution of the corresponding transaction.
Who pays for forex losses, if any?
The hotels are located in the US and are dollar-denominated so there isn’t fiat currency risk. Any cryptocurrency risk is borne by the investor.
Who pays for US Treasury purchases?
GreatX, as Issuer, pays for all US Treasury purchases.
Who pays for US Treasury securitization?
GreatX, as Issuer, pays all for all US Treasury securitization.
Who pays to maintain the technology platform?
GreatX, as Issuer, pays to maintain the technology platform.
Who pays for marketing and advertising?
GreatX, as issuer, pays all marketing and advertising fees.
Who pays day-to-day administration costs?
GreatX, as Issuer, pays all day-to-day administration costs.
Who pays legal and regulatory costs?
GreatX, as Issuer pays all legal and regulatory costs.
Who pays token distribution costs?
GreatX, as Issuer, pays all token distribution costs.
Who pays accounting and auditing costs?
GreatX, as Issuer, pays all legal and regulatory costs.
Who pays property management costs?
Property management costs are an operating expense of each individual property and will be paid from property revenues.
Who pays property acquisition costs?
GreatX, as a property equity owner, will pay all costs associated with acquiring new properties.
