UFORIKA ALLIANCE - DAO

The UFORIKA Alliance is a form of Decentralised Autonomous Organisation (DAO). 

The participation in the DAO will be granted to Real Estate PLOT NFT holders. Its remit will include making decision on the following: 

• Managing regulatory and legal issues arising with the network 
• Structure & conduct of the Alliance and range of Alliance business 
• Token supply & fee structures 

UFORIKA ALLIANCE VOTING RULES: 

• Real Estate NFT holders have voting rights in the DAO 
• Proposals can be made by any member of the DAO 
• Voting mechanism = >50% 
• Voters vote Yes or NO on proposals 
• The amount of real estate NFTs in the user’s wallet affects/defines the value of the vote; the larger the amount of real estate NFTs, the more power the user has 
• On proposing, the timeline is defined by the proposing user e.g. 24hrs / 3 days / 7 days etc 
• During the vote, the system checks the validity of the user to confirm that they hold real estate NFTs. If the number of NFTs meets the requirements (1 PLOT NFT = 1 vote), the voter is permitted to vote. If there are fewer or no NFTs at all, the user is not eligible to vote 
• Members of the DAO can cancel their votes 
• The proposer can also cancel the proposal within 4 hours of making it and if no one has voted 
• At the close of voting, the number of votes is checked against the quorum requirement 
• If there are not enough votes, the proposal fails 
• If there are enough votes, the vote is considered valid 
• In the event of a 50/50 tie, the smart contract will poll the voters for a recount, allowing voters to change their vote. If the recount fails to break the tie, the vote fails
TREASURY
PARTNERS
Last modified 6mo ago