Use of UTokens

A holder of a UTOKEN can use it to book any Available Night. An Available Night is:

• any night in the property of the owner that has not been booked by another owner; or

• any nights where the property is bookable by guests that are not the owner of the property (nights bookable by external guests are allocated by majority vote of property owners).

The minimum nights that can be booked is set by the policy of each property.

For High-Demand nights more than 90 days in the future, a request to book will trigger a 7-day auction. During this auction period, other holders of UTOKEN may bid a higher amount of tokens to secure the night. The auction system is designed to provide a fairer system of allocation of High-demand nights than “First come, first served”.