What is STAY?
STAY Villa and Hotel (“STAY”) is a property portfolio owned by Far East Power Limited (“FEP”). FEP is a real estate development company with core business in the development and management of mixed-use communities and commercial lifestyle real estate projects in Asia. STAY Villa and Hotel Limited (“SVHL”) is a subsidiary of FEP and will be the legal entity responsible for selling STAY tokens through this initial coin offering.
We are proposing a new innovative way of implementing blockchain and smart home technologies in its property portfolio and increasing of such portfolio through initial coin offering of our STAY tokens. Our tokens are standardized Ethereum based ERC20 tokens. Therefore they utilize Ethereum-security and can be easily integrated and connected with other Ethereum based technologies. The funds received through this ICO will be primarily used to develop blockchain integration, smart home technologies and the acquisition of hotel and luxury pool villa properties and related land in Bali, Indonesia and also the development of these properties and technologies to provide a differentiated and unique travel experience for our customers and potential STAY token holders.
This ICO is designed to benefit contributors in a number of ways. Firstly, our potential STAY token holders are entitled to free 1-night accommodation in our selected hotel properties and they are able to upgrade to higher room categories and villas with a nominal fee. The number of free night stays for each token will increase by one night annually until each token is qualified for a free consecutive 7-night stay. In light of this increasing demand in accommodation. SVHL also considers a possibility to buy STAY tokens at exchanges (if and once these tokens may be available at exchanges) and burns such tokens over time that may potentially lead to increase in token value.
SVHL is also leveraging the blockchain technology in its hotel operations to solve some of the key pain points in hotel industry. Blockchain is designed to cut out the middlemen and reduce the high cost of verification in a traditional centralized system. Through integrating its hotel operations with blockchain, SVHL can manage complex transactions in a simple way, verify customer information and protect data in a cost efficient way, and grant physical and digital access controls in our properties enabled by smart home technologies.