Online Govenance

Online governance is largely divided into active participants and delegates.
1. Active Participants 
1) Requirements
- Anyone, but require EL tokens to exercise votes. Number of EL staked = number of votes
- Online delegates and offline governance group members are considered Active Participants 
2) Roles
- Proposals and votes for and issuing new real estate tokens
- Policy decisions related to asset tokenization
- Vote for and against new asset token issuance other than real estate
- Approve new token issuers
- Review and confirm property information 
3) Reward 
- Staking revenue (25% of protocol revenue + mining revenue)  
2. Online Delegates   
1) Requirements
- X number of EL tokens to deposit into the community pool
- Must have majority votes by Active Participants
2) Roles
- Validation and approval of real estate tokens proposed by the offline governance group
* Required quorum and approval rates may vary by asset token types.
3) Reward
- Staking revenue (15% of protocol revenue + mining revenue)
4) Obligations
- If a flaw in the asset token data approved by the delegation is detected and confirmed by another party, a number of EL tokens determined by Active Participants will be permanently burned from their deposits.
- If the minimum deposit is not met, the facilitator will be automatically disqualified and another election will take place.

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Offline Governance

Last modified 11mo ago

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Outline

1. Active Participants

2. Online Delegates