ROAD TOWN, Virgin Islands (British), Dec. 15, 2021 (GLOBE NEWSWIRE) — RealEx DAO, the crate of the first real estate-backed crypto currency, has announced plans to provide some relief to the 80 million people worldwide struggling under the burden of more than $2.0TN USD in student debt.
The social mission of the RealEx DAO (decentralized autonomous organization) is to help millions of people transform student debt into financial independence by awarding them RealEx steadycoins in exchange for their contributions to the DAO community.
The RealEx steadycoin is a token backed by real estate and inflation-resistant assets (not fiat currency), which offers the concept of yield to the owners and provides a medium of exchange. This video shows how it works.
According to the RealEx DAO Discord channel, “Like most young people, many of us struggle with student debt. This global crisis has created a barrier preventing many of us, and even our parents, from being able to invest in real estate or crypto. The DAO wants to help create a solution.”
To apply for a RealEx DAO steadycoin award, the applicant must be at least 18 years old, have a crypto wallet, be enrolled in a university or tech school, or have a verifiable form of student debt. The application can be found at realex.foundation. Awards are available to students and graduates in any country.
The DAO Discord channel also features a calculator that community members posted that allow you to gamify loan repayment scenarios based on your guess on future RealEx token prices and yield farming. The calculator is available here.
With the Covid pause on student debt repayments coming to an end, many young people may find themselves unable to make their loan payments without some additional financial assistance or another side hustle.
Upon approval of the grant application, the applicant will receive an email from the RealEx Foundation with the token grant information. The first wave of token grants will be provided to community members after the tokens launch which is slated for January 2022. Steadycoins will be freely tradable on popular DEX (decentralized exchanges).
“10 years ago, I graduated law school with over $300,000 of student debt and I always wondered what my life would have been like if someone had provided me with a couple of Bitcoin back when it was a $1.50,” said a member of the RealEx DAO Discord channel.
The RealEx DAO’s goal is to award over 1 million tokens in the first 100 days of 2022.
You can apply for your student debt token grant today at realex.foundation.