Doma is platform of networked home ownership that turns its users into the owners of their city
As much as a house is a machine for living, it is a mechanism for accumulating wealth. Responding to the increasing failure of current housing market institutions, this project proposes a smart-contract based community housing system in order to produce more equitable conditions for the post-soviet urban precariat. DOMA is a platform for networked home ownership and distributed well-being.
Operating as a non-profit community development corporation, DOMA continually accumulates existing housing in post-soviet city centers that provide a positive correlation between purchase price and rental rate. The network is able to accrue value by capitalizing on this relationship and through the absorbing of costs such as mortgage interest, insurance and transfer fees. After minimal operation costs, incoming dues predominantly fund continual expansion of network property holdings and membership at a growth rate of 14% per year. Throughout membership, users receive an increasing percentage of equity.
The platform’s users, like share-holders increasing their stock in a housing co-op, pay monthly dues equivalent to market rate for ownership in the network rather than in a stationary inhabited unit. This allows for movement between network-owned units, providing flexibility with stability. In addition to rights of occupancy contingent on dues, users maintain voting rights, a data co-op and developer status in a peer-to-peer marketplace, through which they can provide and receive in-home services and goods, utilizing positive equity balance as credit.
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