Property income. Clearly accounted.

Ponperty is moving to a pooled property income model. Deposit the configured six-decimal stablecoin to receive vPON, an ERC-4626 share with eighteen decimals. All holders share the same liquid-asset accounting. The intended stablecoin is USDG; no token address is configured yet.

Redemption value comes from the stablecoins actually held by the vault and outstanding shares, using the ERC-4626 virtual-asset adjustment. Net rent increases the value only after stablecoins arrive. Appraisals, asking prices and unpaid invoices do not enter this calculation. Additional capital can also change NAV; it must not be mislabeled as rent.

The interface minimum deposit is 100 stablecoins. The contract supports smaller amounts for ERC-4626 compatibility. Deposits receive shares at the current conversion rate. Redeeming burns shares for stablecoins, with no exit queue. Transactions use a minimum-output guard and a five-minute deadline. Vault capacity or a deposit pause may prevent entry; the owner cannot pause redemption.

The operator records each unit’s scheduled and collected rent, earlier-period arrears, seven expense categories, capital contributions, deposits and redemptions. The close engine checks cash reconciliation and generates canonical UTF-8 CSV with LF line endings. Its SHA-256 digest is committed to an append-only registry together with actual vault assets, share supply and NAV at publication. Only a closed calendar month can be published.

The vault charges no entry or redemption fee. Network gas is separate. Maintenance, tax, insurance, property management, protocol management, performance and other costs must all be explicit in the monthly ledger. No management or performance fee schedule has been adopted; none is automatically charged by these contracts. Commercial terms require disclosure before launch.

The current twelve property listings are external research candidates in Las Vegas, Ibiza, Phuket, Bangkok, Europe, Japan and Bali. None has been acquired, leased or legally assigned to this vault. Before onboarding, ownership and income rights, title, operating agreements, expenses and evidence must be documented. Holding vPON does not by itself give title to a property or occupancy rights.

This vault has no administrator withdrawal or property-purchase function. It cannot spend depositor assets to buy buildings. A real rental portfolio therefore needs separately arranged funding and enforceable income rights before launch. The software does not establish those rights. This separation keeps the redemption accounting limited to liquid stablecoins.

The owner can adjust the deposit cap, pause deposits and transfer ownership in two steps. The Roll registry owner can publish future monthly closes but cannot overwrite old ones. Ownership renunciation is disabled. Anyone can add stablecoins without receiving shares after the vault has a shareholder. A capital contribution is not proof of rental provenance.

Returns are not guaranteed. Vacancy, repairs, late payments, operator errors, stablecoin depegging or issuer freezes, network outages and contract vulnerabilities can cause losses or prevent transactions. Hash verification confirms file integrity, not the truth of its contents. These new contracts have local automated tests but have not received an independent audit. Mainnet contracts, custody, legal rights and acquired assets are not yet in place.