Overview
At Elysia DAO, there are three conditions for converting real estate assets into digital assets.
Legal force
Decentralization
Fast decision-making
For legal effectiveness, offline governance group and asset token issuers must enter into a legitimate contract. Final decisions are made by casting votes online and offline governance must comply with the decision. Tokenization of real estate must be reviewed quickly to avoid price spreads, and will ultimately require a delegation system.
In this regard, Elysia protocol has designed the following structure:
1. Legal effectiveness aspects
When a real estate property owner is looking to issue representative tokens, they are required to sign a binding contract with the offline governance group. Issuers will be obligated to transfer the property whenever the token holder decides to return the tokens.
2. Decentralization, and swift decision making
Online delegation and the offline governance group are responsible for reviewing real estate tokens but overruled by voting participants. 1) Online delegation and the offline governance group are regularly elected by casting votes online.
2) Real estate properties initially approved by the offline governance group will be reviewed by the online delegation.
3) Active participants will have voting rights for any proposals submitted by the offline governance group and the online delegation.
4) To ensure goodwill, members of the offline governance group and online delegates are required to make a deposit after they are elected.
The process of electing offline governance group members and online delegates is as follows:
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