Upcoming EKOKE SNS decentralization

Governance SNS Project Governance
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Greetings IC fam, it’s the EKOKE team! We’re thrilled to announce our upcoming SNS DAO proposal!

EKOKE is ready to unveil its SNS DAO and will initiate decentralized real estate operations once key milestones are met. Below are vital aspects of our journey.

What is EKOKE?

EKOKE is an innovative tool that aims to innovate the real estate industry. Here are some key points about EKOKE token:

  1. Tokenization of Real Assets: Ekoke focuses on the tokenization of real assets, allowing digital representation of real estate properties. This enables tokenization, installment sales and self-financing in the real estate market.

  2. NFT Marketplace: Ekoke token also contributes to creating an Non-Fungible Token market dedicated to real estate. NFTs represent unique digital assets and can be linked to specific properties, providing a new way to trade and invest in real estate.

  3. Built on ICP Blockchain: Ekoke token is built on the Internet Computer blockchain, which ensures security, efficiency, and reliability for real estate transactions. The ICP blockchain offers velocity and robust document conservation.

  4. Finite Supply and Deflationary Mechanism:

  • Ekoke Token has a limited quantity of 8’880’101 pieces, designed to resist inflationary pressures.
  • It employs a deflationary economic model, leading to a decrease in circulating supply over time. This scarcity enhances its potential as a defense mechanism against inflation.
  • The token’s extended 99-year lifespan adds stability, serving as a long-term hedge against inflation trends.

  1. Autonomous Governance by DAO: As Ekoke Token evolves, it transitions into an autonomous phase managed by a Decentralized Autonomous Organization in Wyoming US state. This decentralized governance structure enhances transparency and resiliency.

  2. Rewards for Digital Property Holders: Ekoke Token serves as a rewarding instrument for holders of digital assets. Investors participating in the Ekoke ecosystem may benefit from its deflationary nature and potential value appreciation over time.

  3. Real Estate Compliance: The property description from EKOKE is based on official documents such as the title deed, cadastral survey, energy certificate, electrical system certificate, and other pertinent documents as required by local laws. It also includes geolocated and dated photos of the property and the identity documents of both the seller and buyer. EKOKE validates these documents for accuracy before they are included in a property-specific NFT collection, which provides a basic description for prospective buyers. Access to sensitive data is restricted to lenders only. Once the debtor and the seller fully settle their debts, the NFT representing the property is deleted.

  4. Network of Real Estate Agencies and Lawyers: The identities of both the buyer and seller are verified through local real estate agents and lawyers.

Dapp:

SNS YAML file:

whitepaper:

Technology Architecture

Tokenomics

Roadmap

Github

Proposed Token Distribution

Total Supply: 8 million EKOKE tokens

Initially distributed:

  • 24%: Reserved for the EKOKE DAO Treasury
  • 30%: Reserved for NFT rewards
  • 12%: Allocated for swap to decentralize governance and raise funds for the SNS.
  • 15%: Allocated to the EKOKE team and advisors with a dissolve delay of 6 months. These neurons will be vested quarterly over 48 months following the SNS Swap, distributed equally each quarter
  • 3%: Allocated to investors, vesting over 24 months.
  • 1%: Allocated to airdrop.
  • 3%: Allocated to LBP Pool.
  • 3%: Allocated to ERC20.

Ledger transaction fee: 0.00001 EKOKE token

Governance

Every participant involved in the decentralization swap, including the Neuron Fund, will be granted tokens distributed across 5 EKOKE neurons of identical value. Each neuron will possess dissolve delays staggered at 0, 3, 6, 9, and 12 months respectively.

The EKOKE team and its advisors will be allocated tokens through a bundle of 16 neurons, each with a dissolve delay of 6 months. These neurons will undergo quarterly vesting over 48 months post-SNS Swap, with equal proportions disbursed each quarter. No EKOKE tokens will be allocated to the team and advisors during the SNS Swap.

Private Sale investors will be provided with a set of 12 tokens in the form of equivalent neurons. These neurons will not have any dissolve delays and will unlock linearly from 0 to 11 months post the SNS swap, with equal proportions unlocked each month.

Transaction fees in EKOKE tokens that must be paid for ledger transfers 1.000 e8s
Number of EKOKE tokens that a rejected proposal costs the proposer 0.0128
Minimum number of EKOKE tokens that can be staked in a neuron 5
Maximum voting period for a proposal 4 days
Proportion of voting power needed for a proposal to be accepted 3%
Minimum neuron dissolve delay to vote 6 months
Maximum dissolve delay bonus 2x
Maximum age for age bonus 6 months
Maximum age bonus 1.25x
Percentage of total supply that will be generated annually for rewards 1.50%

SNS Swap

12% of the total supply of EKOKE tokens is proposed to be distributed via an SNS decentralization swap.

Swap participation parameters:

The total number of EKOKE tokens to be swapped 1’065’612 121
The maximum ICP to be raised 369’000
The maximum ICP of Neurons fund 369’000
Maximum ICP per participant 369’000
Minimum number of swap participants 36
The minimum ICP to be raised (otherwise swap fails and icp returned) 36
Minimum ICP per participant 1

For more details and the latest updates on EKOKE,

visit our EKOKEtoken.com,
and talk with us onOPENCHAT

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What confidence can a lender or prospective purchaser have that a property is as described on EKOKE? That the property is actually owned by the seller, that the house plans and maintenance records are accurate and photographs up to date?

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Clarification: I note that for many people in the world, ‘.’ is a decimal point, so:

looks like just over 888 ICP. This would be less than the max per participant. I assume that 888111 ICP is meant and that , is the decimal separator. It’s a bit of a minefield with everywhere in the world having a different convention! :smiley: When we had the same problem we found this to be the least likely to confuse, worldwide: 12'345'678.90

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What is Ekoke?

No one of the ICP Community i know is following you on Twitter (X).

Whom support you got?

Please share :raised_hands:t4:

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IMG_64021179×2556 518 KB

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Lot’s of followers for someone we never heard of, also Members · People · EKOKEtoken · GitHub

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Thank you for your inquiry. The description of the house provided by EKOKE is derived from official documents, including the title deed, cadastral survey, energy certificate, electrical system certificate, and other relevant documents depending on the country’s regulations. Additionally, it incorporates geolocated and dated property photos, as well as the identity documents of both the seller and buyer. These documents undergo validation by EKOKE for accuracy and are encapsulated within an NFT collection specific to the property, featuring a basic description for potential buyers. Sensitive data is accessible only to lenders. Upon full repayment of debts by the debtor and the seller, the NFT representing the house is eliminated.

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Thank you for pointing that out! You’re correct, the intended amount is indeed 888’111 ICP. We appreciate your understanding regarding the decimal separator complexities across different regions. Your suggested format, 12’345’678.90, seems like a practical and globally understandable solution. We’ll take that into consideration for future communications. :blush:

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We appreciate your comment. Our priority was to initially concentrate on content and programming, ensuring a professional presentation to the ICP community

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What makes Ekoke DAO different than the Estate DAO that has so far seem to be a scam dead project that just took our ICP.

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We are unable to comment on Estate DAO as we are not affiliated with their team and have no information on the execution of their project. However, based on legal advice, EkokeDao has opted for specific legal structures to safeguard project participants:

  1. We will establish an LLC in Wyoming, called Ekoke Dao LLC, because the state’s legal framework supports the creation of autonomous decentralized organizations.

  2. Ekoke functions as a utility and governance token that facilitates tokenization of property, installment payments between individuals, and self-financing through token rewards.

  3. Ekoke is not classified as a security token as it does not solicit funds for the purchase of property; instead, it encourages the use of the ICP blockchain for transparent, traceable, and convenient transactions.

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Can I ask why you haven’t done this already?

At this stage in the projects development, what does it have to show for itself, and why are you seeking decentralisation already?

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Does this mean that you cannot comment on whether you have a USP? Does it also mean that you have conducted no research into your competition on the IC, and/or how you would differentiate yourself and provide value added?

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When setting up a DAO LLC in Wyoming, the documents must specify the computer protocol where the DAO’s economic activities occur, which aligns with the creation of the token on SNS.

The project’s decentralization enables individuals to buy, sell, and finance properties independently, without relying on banks.

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We’re aware of the Estate DAO project, but we haven’t followed its implementation closely, as it doesn’t align with our project’s focus. Unlike Estate DAO, which specializes in holiday homes, our project centers on peer-to-peer buying and selling and the tokenization of residential properties. These are two entirely different markets, and the added value of our project is directly related to the market we serve.