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  • Overview
    • Manifest Overview
    • Genesis Story
    • Governance
  • Legal and Regulatory Compliance
  • Home Equity 101
    • What are HEIs
    • HEI Returns
    • Originating HEIs
    • When House Prices Fall
  • $USH Token
    • What is $USH?
    • Protocol Mechanics
    • Yield Generation
    • Targeting 13% IRR
    • Liquidity
    • Benefits of Ownership
    • $USH Yield Comparisons
    • $USH vs. Stablecoins
    • $USH vs. ETFs
    • $USH vs. Direct Real Estate
  • Collateral
    • $USH Collateral Pool
    • Investment Structure
    • Asset Quality
    • Bankruptcy Remote
  • Using Manifest
    • Buy $USH
    • Hold $USH
    • Trade $USH
    • $USH in DeFi
    • Earn Manifest Points
  • Governance
    • $USA Governance Token
    • Supply & Utility
    • How do I acquire $USA tokens?
  • Resources
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  1. $USH Token

Targeting 13% IRR

How does $USH acheive 13% IRR (projected)?

The projected 13% net-IRR for $USH stems from the fact that $USH is collateralized by a portfolio of HEIs.

Manifest will buy freshly originated HEIs. Manifest projects, based on industry trends and guidance from its partners, that these newly originated HEIs will mature after 4.5 years on average. However not all HEIs will settle; some defaults are expected.

Manifest expects to be able to generate returns of 16.0-17.5% on a portfolio of HEIs after:

  • Origination costs

  • Losses from defaults.

  • Costs from operations and servicing the portfolio of HEIs

  • Cash drag from holding limited cash equivalents for working capital and liquidity (cash equivalent holdings expected to be ~ 5% of TVL)

Manifest governance may decide to apply additional fees. In the event of these fees, Manifest expects annual fees of approximately 2.0-3.0%.

The combination of these factors produces the projected 13.0-14.5% returns on assets managed by Manifest annually. See our PPM for more details.

Description
Annual Return

Manifest portfolio after: - Origination costs - Losses from defaults - Costs from operations and servicing - Cash drag from cash equivalents used for working capital and liquidity (expected to be ~5% of TVL)

16.0-17.5%

Manifest governance fees

(2.0-3.0%)

Net Returns to $USH

13.0-14.5%

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Last updated 2 months ago