Property owners who are looking to digitalize their real estate will require approval by the governance body. There will be provisions and guidelines for governance participants to authorize and issue the following types of asset tokens:
- Real estate assets: property bond-type tokens, property shares type tokens - Digital assets: asset derivative tokens, digital native tokens
Offline governance consists of a group of real estate facilitators and representatives selected by active participants. Offline governance has a contractual relationship with the issuer of real estate tokens and is responsible for the approval of asset tokens.
Online governance consists of active participants and delegations. The online governance group has the authority to review and approve asset tokens proposed by the offline governance team. Participants may also vote for other policies related to the Elysia protocol.
The developer group contributes to the development of the Elysia protocol. Developers around the world can participate and receive rewards for the roles they play. In addition, various Dapps can be developed using asset tokens generated by Elysia protocol to contribute to the overall ecosystem.
Agencies that contribute to the protocol’s core components (issuance, distribution, liquidations, pricing) will assist in securing and maintaining the entire system. They will be incentivized by collecting fixed fees during the execution of each component.
Oracles provide real-world asset prices to protocols. The current price will be the leading indicator for the issuance, distribution, and liquidation of asset tokens.
Licensed companies or individuals assigned to refinance property bond-type tokens in case the issuer fails to redeem the tokens before the deadline. During a mortgage agreement, the tokens can be claimed at a lower price than the usual acquisition price, and if the issuer fails to repay the outstanding charges the property will be liquidated and the entire proceeds will be distributed to the asset token holders.
Designated law firms will provide legal services related to the review, consultation, and documentation for real estate token issuances. These firms will receive fees from real estate token issuers depending on the type of services involved.
Liquidators will monitor the real estate prices and its representative tokens to reduce liquidity risk.