Upcoming EstateDAO SNS Decentralization Sale

Governance SNS Project Governance
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EstateDAO is preparing to launch its SNS DAO with a proposal to start the decentralization sale soon. This post is a forum for the IC Community to discuss the EstateDAO SNS and ask the founding team any questions.

EstateDAO is a pioneering platform that revolutionizes vacation home investments through the Internet Computer Blockchain. It allows for fractional ownership of vacation properties worldwide, with an investment as low as USD 100. This innovative method eliminates traditional obstacles, enabling anyone to create a diversified real estate portfolio and share in potential vacation rental revenue. EstateDAO aims to democratize property investment, making vacation home ownership a reality for many and fostering a global community of investors.

Proposed Token Distribution
Total Supply: 1 Billion EST Tokens

The Initial Distribution of EST Tokens at the SNS Sale is as follows:

  • 52%; Reserved for Treasury
  • 25%: Allocated to the Decentralization Sale
  • 15%: Allocated to the Founding Team
  • 8%: Allocated to the Seed Investors

Funding Target
We are targeting a minimum of 100,000 ICP to a maximum of 500,000 ICP. The initial SNS configuration would be:
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See more details in our whitepaper and visit our website. We are excited to launch our SNS and embark on the road ahead as we revolutionize the way people invest in vacation real estate!

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Please find below the document detailing the Technical Architecture of EstateDAO:

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Says Page not found for me

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Hi! Could you please check now? We have updated the Notion link for the Technical Architecture. Thank you!

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Could you please share your sns init yaml?

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Hi! Please find below the sns_init.yaml file for your consideration:

# Name of the SNS project. This may differ from the name of the associated
# token. Must be a string of max length = 255.
name: EstateDAO

# Description of the SNS project.
# Must be a string of max length = 2,000.
description: >
    A vacation real estate tokenization and rental platform on Internet Computer, enabling users to invest in vacation real estate with investments as low as USD 100.

# This is currently a placeholder field and must be left empty for now.
Principals: []

# Path to the SNS Project logo on the local filesystem. The path is relative
# to the configuration file's location, unless an absolute path is given.
# Must have less than 341,334 bytes. The only supported format is PNG.
logo: logo.png

# URL to the dapp controlled by the SNS project.
# Must be a string from 10 to 512 bytes.
url: https://wbdy5-yyaaa-aaaap-abysq-cai.icp0.io/

# Metadata for the NNS proposal required to create the SNS. This data will be
# shown only in the NNS proposal.
NnsProposal:
    # The title of the NNS proposal. Must be a string of 4 to 256 bytes.
    title: "NNS Proposal to create an SNS named 'EstateDAO'"

    # The HTTPS address of additional content required to evaluate the NNS
    # proposal.
    url: "https://forum.dfinity.org/t/upcoming-estatedao-sns-decentralization-sale/28285"

    # The description of the proposal. Must be a string of 10 to 2,000 bytes.
    summary: >
        # EstateDAO Proposal for SNS
        Proposal to create an SNS DAO for the project EstateDAO.
        ## Token Distribution
        The total supply of EST Tokens at the time of the SNS Decentralization Sale is 1 Billion tokens.
        * 25% is allocated to the decentralization sale (250,000,000 tokens)
        * 15% is allocated to the founding team (150,000,000 tokens)
        * 8% is allocated to the seed investors (80,000,000 tokens)
        * 52% is allocated to the treasury (520,000,000 tokens)
        ## Governance
        The governance model includes staking, voting, and other relevant details.
        The ledger transaction fee is 0.001 EST.
        The minimum amount of SNS tokens to stake a neuron is 5.
        The minimum dissolve delay for a neuron to cast votes on proposals is 3 months and the maximum dissolve delay is 4 years.
        ## Decentralization Sale
        * Minimum number of participants: 50
        * Minimum ICP raised through direct participation: 75,000 ICP
        * Maximum ICP raised through direct participation: 500,000 ICP
        * Minimum Contribution raised through direct participation: 1 ICP
        * Maximum Contribution raised through direct participation: 100,000 ICP
        * Neuron Fund Participation: Yes
        ## The Dapp
        The following canisters on EstateDAO will be governed by SNS post the SNS swap:
        * wbdy5-yyaaa-aaaap-abysq-cai
        * tu3je-fyaaa-aaaap-abymq-cai
        ## Verification
        All information about the project can be verified in the [Whitepaper](https://www.estatedao.org/_files/ugd/1f4d25_11fa88bbc5ed4ed7bb3f8d40aa3918f3.pdf) and on [Github](https://github.com/Estate-DAO)

# If the SNS launch attempt fails, control over the dapp canister(s) is given to
# these principals. In most use cases, this is chosen to be the original set of
# controller(s) of the dapp. Must be a list of PrincipalIds.
fallback_controller_principals:
    # For the actual SNS launch, you should replace this with one or more
    # principals of your intended fallback controllers.
    #
    # For testing, propose_sns.sh will fill this in automatically.
    - v3mpp-bismc-wjug7-6t6jc-iqu2b-64xh3-rpwld-sw5e2-fsecm-6lfss-aqe

# The list of dapp canister(s) that will be decentralized if the
# decentralization swap succeeds. These are defined in the form of canister IDs,
# for example, `bnz7o-iuaaa-aaaaa-qaaaa-cai`.  For a successful SNS launch,
# these dapp canister(s) must be co-controlled by the NNS Root canister
# (`r7inp-6aaaa-aaaaa-aaabq-cai`) at latest at the time when the NNS proposal to
# create an SNS is adopted (usually this is required even earlier, e.g., to
# convince NNS neurons to vote in favor of your proposal).
dapp_canisters:
    # For the actual SNS launch, you should replace this with one or more
    # IDs of the canisters comprising your to-be-decentralized dapp.
    #
    # For testing, propose_sns.sh will fill this in automatically.
    - wbdy5-yyaaa-aaaap-abysq-cai
    - tu3je-fyaaa-aaaap-abymq-cai

# Configuration of SNS tokens in the SNS Ledger canister deployed as part
# of the SNS.
Token:
    # The name of the token issued by the SNS ledger.
    # Must be a string of 4 to 255 bytes without leading or trailing spaces.
    name: ESTATE

    # The symbol of the token issued by the SNS Ledger.
    # Must be a string of 3 to 10 bytes without leading or trailing spaces.
    symbol: EST

    # SNS ledger transaction fee.
    transaction_fee: 100_000 e8s

    # Path to the SNS token logo on your local filesystem. The path is relative
    # to the configuration file location, unless an absolute path is given.
    # Must have less than 341,334 bytes. The only supported format is PNG.
    logo: logo.png

# Configures SNS proposal-related fields. These fields define the initial values
# for some of the nervous system parameters related to SNS proposals. This will
# not affect all SNS proposals submitted to the newly created SNS.
Proposals:
    # The cost of making an SNS proposal that is rejected by the SNS neuron
    # holders. This field is specified as a token. For example: "1 token".
    rejection_fee: 100 token

    # The initial voting period of an SNS proposal. A proposal's voting period
    # may be increased during its lifecycle due to the wait-for-quiet algorithm
    # (see details below). This field is specified as a duration. For example
    # "4 days".
    initial_voting_period: 4 days

    # The wait-for-quiet algorithm extends the voting period of a proposal when
    # there is a flip in the majority vote during the proposal's voting period.
    #
    # Without this, there could be an incentive to vote right at the end of a
    # proposal's voting period, in order to reduce the chance that people will
    # see and have time to react to that.
    #
    # If this value is set to 1 day, then a change in the majority vote at the
    # end of a proposal's original voting period results in an extension of the
    # voting period by an additional day. Another change at the end of the
    # extended period will cause the voting period to be extended by another
    # half-day, etc.
    #
    # The total extension to the voting period will never be more than twice
    # this value.
    #
    # For more information, please refer to
    # https://wiki.internetcomputer.org/wiki/Network_Nervous_System#Proposal_decision_and_wait-for-quiet
    #
    # This field is specified as a duration. For example: "1 day".
    maximum_wait_for_quiet_deadline_extension: 1 day

# Configuration of SNS voting.
Neurons:
    # The minimum amount of SNS tokens to stake a neuron. This field is specified
    # as a token. For instance, "1 token".
    minimum_creation_stake: 5 tokens

# Configuration of SNS voting.
Voting:
    # The minimum dissolve delay a neuron must have to be able to cast votes on
    # proposals.
    #
    # Dissolve delay incentivizes neurons to vote in the long-term interest of
    # an SNS, as they are rewarded for longer-term commitment to that SNS.
    #
    # Users cannot access the SNS tokens used to stake neurons (until the neuron
    # is dissolved). This field is specified as a duration. For example: "6 months".
    minimum_dissolve_delay: 3 months

    # Configuration of voting power bonuses that are applied to neurons to
    # incentivize alignment with the best interest of the DAO. Note, these
    # bonuses multiply each other, so the increase in voting power due to
    # the dissolve delay bonus is used in the equation to increase voting
    # power for the age bonus.
    MaximumVotingPowerBonuses:
        # Users with a higher dissolve delay are incentivized to take the
        # long-term interests of the SNS into consideration when voting. To
        # reward this long-term commitment, this bonus can be set to a
        # percentage greater than zero, which will result in neurons having
        # their voting power increased in proportion to their dissolve delay.
        #
        # For example, if the user has a dissolve delay of 6 months, and
        # the maximum dissolve delay duration (defined below as `duration`)
        # for the dissolve delay bonus is 12 months, and the maximum bonus
        # (defined as `bonus` below) is set to 10%, then that user’s voting
        # power will be 105% of their normal voting power based on staked
        # tokens (i.e. they will have a bonus of 5%). If the user increased
        # their dissolve delay to 9 months, they would get 107.5% of the normal
        # voting power of their tokens. And if they increased to 12 months, they
        # would get 110%. If they increase further, they get no additional bonus.
        #
        # If you do not want this bonus to be applied for neurons with higher
        # dissolve delay, set `bonus` to `0%` and those neurons will not receive
        # higher voting power.
        DissolveDelay:
            # This parameter sets the maximum dissolve delay a neuron can have.
            # When reached, the maximum dissolve delay bonus will be applied.
            # This field is specified as a duration. For example: "8 years".
            duration: 4 years
            # If a neuron's dissolve delay is `duration`, its voting power will
            # be increased by the dissolve delay `bonus` amount. 
            # This field is specified as a percentage. For instance, 
            # a value of "100%" means that the voting power will be doubled
            # (multiplied by 2).
            bonus: 100%

        # Users with neurons staked in the non-dissolving state for a long
        # period of time are incentivized to take the long-term interests of
        # the SNS into consideration when voting. To reward this long-term
        # commitment, this bonus can be set to a percentage (greater than zero),
        # which will result in neurons having their voting power increased in
        # proportion to their age.
        #
        # For example, if the neuron has an age of 6 months, and the maximum age
        # duration (defined below as `duration`) for the age bonus is 12 months,
        # and the maximum bonus (defined as `bonus` below) is set to 10%, then
        # that neuron’s voting power will be 105% of their normal voting power
        # based on staked tokens plus dissolve delay bonus (i.e. they will have a
        # bonus of 5%). If neuron aged another 3 months to have an age of 9 months,
        # the neuron would get 107.5% of the normal voting power. And if the neuron
        # aged another 3 months to 12 months, the neuron would get 110%. If the neuron
        # ages further, it get no additional bonus.
        #
        # If this bonus should not be applied for older neurons, set the bonus
        # to `0%` and older neurons will not receive higher voting power.
        Age:
            # This parameter sets the duration of time the neuron must be staked
            # in the non-dissolving state, in other words its `age`, to reach
            # the maximum age bonus. Once this age is reached, the neuron will
            # continue to age, but no more bonus will be applied. This field
            # is specified as a duration. For example: "2 years".
            duration: 2 years
            # If a neuron's age is `duration` or older, its voting power will be
            # increased by this age`bonus` amount. 
            # This field is specified as a percentage. For instance, 
            # a value of "25%" means that the voting power will increase by a quarter
            # (multiplied by 1.25).
            bonus: 25%

    # Configuration of SNS voting reward parameters.
    #
    # The voting reward rate controls how quickly the supply of the SNS token
    # increases. For example, setting `initial` to `2%` will cause the supply to
    # increase by at most `2%` per year. A higher voting reward rate
    # incentivizes users to participate in governance, but also results in
    # higher inflation.
    #
    # The initial and final reward rates can be set to have a higher reward rate
    # at the launch of the SNS and a lower rate further into the SNS’s lifetime.
    # The reward rate falls quadratically from the `initial` rate to the `final`
    # rate over the course of `transition_duration`.
    #
    # Setting both `initial` and `final` to `0%` will result in the system not
    # distributing voting rewards at all.
    #
    # More details on SNS tokenomics can be found in the developer documentation:
    # https://internetcomputer.org/docs/current/developer-docs/integrations/sns/tokenomics/rewards/#voting-rewards
    RewardRate:
        # The initial reward rate at which the SNS voting rewards will increase
        # per year. This field is specified as a percentage. For example: "15%".
        initial: 3%

        # The final reward rate at which the SNS voting rewards will increase
        # per year. This rate is reached after `transition_duration` and remains
        # at this level unless changed by an SNS proposal. This field is
        # specified as a percentage. For example: "5%".
        final: 3%

        # The voting reward rate falls quadratically from `initial` to `final`
        # over the time period defined by `transition_duration`.
        #
        # Values of 0 result in the reward rate always being `final`.
        #
        # This field is specified as a duration. For example: "8 years".
        transition_duration: 5 years

# Configuration of the initial token distribution of the SNS. You can configure
# how SNS tokens are distributed in each of the three groups:
# (1) tokens that are given to the original developers of the dapp,
# (2) treasury tokens that are owned by the SNS governance canister, and
# (3) tokens which are distributed to the decentralization swap participants.
#
# The initial token distribution must satisfy the following preconditions to be
# valid:
#    - The sum of all developer tokens in E8s must be less than `u64::MAX`.
#    - The Swap's initial balance (see group (3) above) must be greater than 0.
#    - The Swap's initial balance (see group (3) above) must be greater than or
#      equal to the sum of all developer tokens.
Distribution:
    # The initial neurons created when the SNS Governance canister is installed.
    # Each element in this list specifies one such neuron, including its stake,
    # controlling principal, memo identifying this neuron (every neuron that
    # a user has must be identified by a unique memo), dissolve delay, and a
    # vesting period. Even though these neurons are distributed at genesis,
    # they are locked in a (restricted) pre-initialization mode until the
    # decentralization swap is completed. Note that `vesting_period` starts
    # right after the SNS creation and thus includes the pre-initialization mode
    # period.
    #
    # For example:
    #  - principal: hpikg-6exdt-jn33w-ndty3-fc7jc-tl2lr-buih3-cs3y7-tftkp-sfp62-gqe
    #    stake: 1_000 tokens
    #    memo: 0
    #    dissolve_delay: 2 years
    #    vesting_period: 4 years
    Neurons:
        # For the actual SNS launch, you should replace this with one or more
        # principals of your intended genesis neurons.
        #
        # For testing, propose_sns.sh will fill this in automatically.

        # Dev Team Neurons - Founder 1
        - principal: z5efb-43spm-agj6a-ijoel-gd3h7-o53ae-wqwr6-gmsfs-4l7uk-liure-sae
          stake: 6_250_000 tokens
          memo: 0
          dissolve_delay: 3 months
          vesting_period: 6 months
        - principal: z5efb-43spm-agj6a-ijoel-gd3h7-o53ae-wqwr6-gmsfs-4l7uk-liure-sae
          stake: 6_250_000 tokens
          memo: 1
          dissolve_delay: 3 months
          vesting_period: 12 months
        - principal: z5efb-43spm-agj6a-ijoel-gd3h7-o53ae-wqwr6-gmsfs-4l7uk-liure-sae
          stake: 6_250_000 tokens
          memo: 2
          dissolve_delay: 3 months
          vesting_period: 18 months
        - principal: z5efb-43spm-agj6a-ijoel-gd3h7-o53ae-wqwr6-gmsfs-4l7uk-liure-sae
          stake: 6_250_000 tokens
          memo: 3
          dissolve_delay: 3 months
          vesting_period: 24 months
        - principal: z5efb-43spm-agj6a-ijoel-gd3h7-o53ae-wqwr6-gmsfs-4l7uk-liure-sae
          stake: 6_250_000 tokens
          memo: 4
          dissolve_delay: 3 months
          vesting_period: 30 months
        - principal: z5efb-43spm-agj6a-ijoel-gd3h7-o53ae-wqwr6-gmsfs-4l7uk-liure-sae
          stake: 6_250_000 tokens
          memo: 5
          dissolve_delay: 3 months
          vesting_period: 36 months
        - principal: z5efb-43spm-agj6a-ijoel-gd3h7-o53ae-wqwr6-gmsfs-4l7uk-liure-sae
          stake: 6_250_000 tokens
          memo: 6
          dissolve_delay: 3 months
          vesting_period: 42 months
        - principal: z5efb-43spm-agj6a-ijoel-gd3h7-o53ae-wqwr6-gmsfs-4l7uk-liure-sae
          stake: 6_250_000 tokens
          memo: 7
          dissolve_delay: 3 months
          vesting_period: 48 months
          
        # Dev Team Neurons - Founder 2
        - principal: t4qft-vge6g-zmojy-uu377-bsemg-lqt5b-w65ne-4exwr-m7uk3-ays6c-xae
          stake: 9_375_000 tokens
          memo: 0
          dissolve_delay: 3 months
          vesting_period: 6 months
        - principal: t4qft-vge6g-zmojy-uu377-bsemg-lqt5b-w65ne-4exwr-m7uk3-ays6c-xae
          stake: 9_375_000 tokens
          memo: 1
          dissolve_delay: 3 months
          vesting_period: 12 months
        - principal: t4qft-vge6g-zmojy-uu377-bsemg-lqt5b-w65ne-4exwr-m7uk3-ays6c-xae
          stake: 9_375_000 tokens
          memo: 2
          dissolve_delay: 3 months
          vesting_period: 18 months
        - principal: t4qft-vge6g-zmojy-uu377-bsemg-lqt5b-w65ne-4exwr-m7uk3-ays6c-xae
          stake: 9_375_000 tokens
          memo: 3
          dissolve_delay: 3 months
          vesting_period: 24 months
        - principal: t4qft-vge6g-zmojy-uu377-bsemg-lqt5b-w65ne-4exwr-m7uk3-ays6c-xae
          stake: 9_375_000 tokens
          memo: 4
          dissolve_delay: 3 months
          vesting_period: 30 months
        - principal: t4qft-vge6g-zmojy-uu377-bsemg-lqt5b-w65ne-4exwr-m7uk3-ays6c-xae
          stake: 9_375_000 tokens
          memo: 5
          dissolve_delay: 3 months
          vesting_period: 36 months
        - principal: t4qft-vge6g-zmojy-uu377-bsemg-lqt5b-w65ne-4exwr-m7uk3-ays6c-xae
          stake: 9_375_000 tokens
          memo: 6
          dissolve_delay: 3 months
          vesting_period: 42 months
        - principal: t4qft-vge6g-zmojy-uu377-bsemg-lqt5b-w65ne-4exwr-m7uk3-ays6c-xae
          stake: 9_375_000 tokens
          memo: 7
          dissolve_delay: 3 months
          vesting_period: 48 months

        # Dev Team Neurons - Founder 3
        - principal: 7afui-umoow-6xi2s-euc4g-7hpjs-dbmer-emoni-4guuu-2ms4f-gomfw-dae
          stake: 3_125_000 tokens
          memo: 0
          dissolve_delay: 3 months
          vesting_period: 6 months
        - principal: 7afui-umoow-6xi2s-euc4g-7hpjs-dbmer-emoni-4guuu-2ms4f-gomfw-dae
          stake: 3_125_000 tokens
          memo: 1
          dissolve_delay: 3 months
          vesting_period: 12 months
        - principal: 7afui-umoow-6xi2s-euc4g-7hpjs-dbmer-emoni-4guuu-2ms4f-gomfw-dae
          stake: 3_125_000 tokens
          memo: 2
          dissolve_delay: 3 months
          vesting_period: 18 months
        - principal: 7afui-umoow-6xi2s-euc4g-7hpjs-dbmer-emoni-4guuu-2ms4f-gomfw-dae
          stake: 3_125_000 tokens
          memo: 3
          dissolve_delay: 3 months
          vesting_period: 24 months
        - principal: 7afui-umoow-6xi2s-euc4g-7hpjs-dbmer-emoni-4guuu-2ms4f-gomfw-dae
          stake: 3_125_000 tokens
          memo: 4
          dissolve_delay: 3 months
          vesting_period: 30 months
        - principal: 7afui-umoow-6xi2s-euc4g-7hpjs-dbmer-emoni-4guuu-2ms4f-gomfw-dae
          stake: 3_125_000 tokens
          memo: 5
          dissolve_delay: 3 months
          vesting_period: 36 months
        - principal: 7afui-umoow-6xi2s-euc4g-7hpjs-dbmer-emoni-4guuu-2ms4f-gomfw-dae
          stake: 3_125_000 tokens
          memo: 6
          dissolve_delay: 3 months
          vesting_period: 42 months
        - principal: 7afui-umoow-6xi2s-euc4g-7hpjs-dbmer-emoni-4guuu-2ms4f-gomfw-dae
          stake: 3_125_000 tokens
          memo: 7
          dissolve_delay: 3 months
          vesting_period: 48 months

        # Seed Investor Neurons - Investor 1
        - principal: 7crhr-mdemg-e7rtk-ll77f-jxguq-c6p2x-ttnbz-p2nuh-oo5fx-cx63i-oqe
          stake: 5_000_000 tokens
          memo: 0
          dissolve_delay: 3 months
          vesting_period: 6 months
        - principal: 7crhr-mdemg-e7rtk-ll77f-jxguq-c6p2x-ttnbz-p2nuh-oo5fx-cx63i-oqe
          stake: 5_000_000 tokens
          memo: 1
          dissolve_delay: 3 months
          vesting_period: 12 months
        - principal: 7crhr-mdemg-e7rtk-ll77f-jxguq-c6p2x-ttnbz-p2nuh-oo5fx-cx63i-oqe
          stake: 5_000_000 tokens
          memo: 2
          dissolve_delay: 3 months
          vesting_period: 18 months
        - principal: 7crhr-mdemg-e7rtk-ll77f-jxguq-c6p2x-ttnbz-p2nuh-oo5fx-cx63i-oqe
          stake: 5_000_000 tokens
          memo: 3
          dissolve_delay: 3 months
          vesting_period: 24 months

        # Seed Investor Neurons - Investor 2
        - principal: lalay-pqy6x-ksqyd-ty5tv-6kn7g-75mwa-55yyr-2srb4-pjbix-ows4j-wqe
          stake: 5_000_000 tokens
          memo: 0
          dissolve_delay: 3 months
          vesting_period: 6 months
        - principal: lalay-pqy6x-ksqyd-ty5tv-6kn7g-75mwa-55yyr-2srb4-pjbix-ows4j-wqe
          stake: 5_000_000 tokens
          memo: 1
          dissolve_delay: 3 months
          vesting_period: 12 months
        - principal: lalay-pqy6x-ksqyd-ty5tv-6kn7g-75mwa-55yyr-2srb4-pjbix-ows4j-wqe
          stake: 5_000_000 tokens
          memo: 2
          dissolve_delay: 3 months
          vesting_period: 18 months
        - principal: lalay-pqy6x-ksqyd-ty5tv-6kn7g-75mwa-55yyr-2srb4-pjbix-ows4j-wqe
          stake: 5_000_000 tokens
          memo: 3
          dissolve_delay: 3 months
          vesting_period: 24 months

        # Seed Investor Neurons - Investor 3
        - principal: np3g5-teq25-njn7l-o44lk-hhu2o-hsawy-ibbac-tfzdx-i4njg-jphz4-uae
          stake: 5_000_000 tokens
          memo: 0
          dissolve_delay: 3 months
          vesting_period: 6 months
        - principal: np3g5-teq25-njn7l-o44lk-hhu2o-hsawy-ibbac-tfzdx-i4njg-jphz4-uae
          stake: 5_000_000 tokens
          memo: 1
          dissolve_delay: 3 months
          vesting_period: 12 months
        - principal: np3g5-teq25-njn7l-o44lk-hhu2o-hsawy-ibbac-tfzdx-i4njg-jphz4-uae
          stake: 5_000_000 tokens
          memo: 2
          dissolve_delay: 3 months
          vesting_period: 18 months
        - principal: np3g5-teq25-njn7l-o44lk-hhu2o-hsawy-ibbac-tfzdx-i4njg-jphz4-uae
          stake: 5_000_000 tokens
          memo: 3
          dissolve_delay: 3 months
          vesting_period: 24 months

        # Seed Investor Neurons - Investor 4
        - principal: 2rtfk-dsw3g-apwjp-d5it7-fizgw-zdzqi-lnpli-ookuf-n6zgh-l77gt-sae
          stake: 5_000_000 tokens
          memo: 0
          dissolve_delay: 3 months
          vesting_period: 6 months
        - principal: 2rtfk-dsw3g-apwjp-d5it7-fizgw-zdzqi-lnpli-ookuf-n6zgh-l77gt-sae
          stake: 5_000_000 tokens
          memo: 1
          dissolve_delay: 3 months
          vesting_period: 12 months
        - principal: 2rtfk-dsw3g-apwjp-d5it7-fizgw-zdzqi-lnpli-ookuf-n6zgh-l77gt-sae
          stake: 5_000_000 tokens
          memo: 2
          dissolve_delay: 3 months
          vesting_period: 18 months
        - principal: 2rtfk-dsw3g-apwjp-d5it7-fizgw-zdzqi-lnpli-ookuf-n6zgh-l77gt-sae
          stake: 5_000_000 tokens
          memo: 3
          dissolve_delay: 3 months
          vesting_period: 24 months
          
    # The initial SNS token balances of the various canisters of the SNS.
    InitialBalances:
        # The initial SNS token balance of the SNS Governance canister is known
        # as the treasury. This is initialized in a special sub-account, as the
        # main account of Governance is the minting account of the SNS Ledger.
        # This field is specified as a token. For instance, "1 token".
        governance: 520_000_000 tokens

        # The initial SNS token balance of the Swap canister is what will be
        # available for the decentralization swap. These tokens will be swapped
        # for ICP. This field is specified as a token. For instance, "1 token".
        swap: 250_000_000 tokens

    # Checksum of the total number of tokens distributed in this section.
    # This field is specified as a token. For instance, "1 token".
    #    150 million    (dev team)
    #     80 million    (seed investors)
    #    520 million    (governance)
    # +  250 million    (swap)
    # --------------
    total: 1_000_000_000 tokens

# Configuration of the decentralization swap parameters. Choose these parameters
# carefully, if a decentralization swap fails, the SNS will restore the dapp
# canister(s) to the fallback controllers (defined in
# `fallback_controller_principals`) and you will need to start over.
Swap:
    # The minimum number of direct participants that must participate for the
    # decentralization swap to succeed. If a decentralization swap finishes due
    # to the deadline or the maximum target being reached, and if there are less
    # than `minimum_participants` (here, only direct participants are counted),
    # the swap will be committed.
    minimum_participants: 50

    # Minimum amount of ICP from direct participants. This amount is required for
    # the swap to succeed. If this amount is not achieved, the swap will be
    # aborted (instead of committed) when the due date/time occurs.
    # Must be smaller than or equal than `maximum_direct_participation_icp`.
    minimum_direct_participation_icp: 75_000 tokens

    # Maximum amount of ICP from direct participants. If this amount is achieved,
    # the swap will finalize immediately, without waiting for the due date/time;
    # in this case, the swap would be committed if and only if the number of
    # direct participants (`minimum_participants`) is reached (otherwise, it
    # would be aborted).
    # Must be at least `min_participants * minimum_direct_participation_icp`.
    maximum_direct_participation_icp: 500_000 tokens

    # The minimum amount of ICP that each participant must contribute
    # to participate. This field is specified as a token. For instance,
    # "1 token".
    minimum_participant_icp: 1 token

    # The maximum amount of ICP that each participant may contribute
    # to participate. This field is specified as a token. For instance,
    # "1 token".
    maximum_participant_icp: 100_000 tokens

    # The text that swap participants must confirm before they may participate
    # in the swap.
    #
    # This field is optional. If set, must be within 1 to 1,000 characters and
    # at most 8,000 bytes.
    # confirmation_text: >
    #     I confirm my understanding of the responsibilities and risks
    #     associated with participating in this token swap.

    # A list of countries from which swap participation should not be allowed.
    #
    # This field is optional. By default, participants from all countries
    # are allowed.
    #
    # Each list element must be an ISO 3166-1 alpha-2 country code.
    restricted_countries:
        - AF # Afghanistan
        - AQ # Antarctica
        - BF # Burkina Faso
        - CI # Democratic Republic of Congo
        - CU # Cuba
        - IR # Iran
        - ML # Mali
        - MZ # Mozambique
        - MM # Myanmar
        - NF # North Korea
        - SD # Sudan
        - SS # South Sudan
        - CH # Syria
        - VE # Venezuela
        - YE # Yemen

    # Configuration of the vesting schedule of the neuron basket, i.e., the SNS
    # neurons that a participants will receive from a successful
    # decentralization swap.
    VestingSchedule:
        # The number of events in the vesting schedule. This translates to how
        # many neurons will be in each participant's neuron basket. Note that
        # the first neuron in each neuron basket will have zero dissolve delay.
        # This value should thus be greater than or equal to `2`.
        events: 5

        # The interval at which the schedule will be increased per event. The
        # first neuron in the basket will be unlocked with zero dissolve delay.
        # Each other neuron in the schedule will have its dissolve delay
        # increased by `interval` compared to the previous one. For example,
        # if `events` is set to `3` and `interval` is `1 month`, then each
        # participant's neuron basket will have three neurons (with equal stake)
        # with dissolve delays zero, 1 month, and 2 months. Note that the notion
        # of `Distribution.neurons.vesting_period` applies only to developer
        # neurons. While neuron basket neurons do not use `vesting_period`, they
        # have a vesting schedule. This field is specified as a duration. For
        # example: "1 month".
        interval: 6 months

    # Absolute time of day when the decentralization swap is supposed to start.
    #
    # An algorithm will be applied to allow at least 24 hours between the time
    # of execution of the CreateServiceNervousSystem proposal and swap start.
    # For example, if start_time is 23:30 UTC and the proposal is adopted and
    # executed at 23:20 UTC, then the swap start will be at 23:30 UTC the next
    # day (i.e., in 24 hours and 10 min from the proposal execution time).
    #
    # WARNING: Swap start_time works differently on mainnet and in testing.
    #
    # On mainnet:
    # - Setting start_time to some value (e.g., 23:30 UTC) will allow the swap
    #   participants to be prepared for the swap in advance, e.g.,
    #   by obtaining ICPs that they would like to participate with.
    # - If start_time is not specified, the actual start time of the swap will
    #   be chosen at random (allowing at least 24 hours and less than 48 hours,
    #   as described above).
    #
    # In testing:
    # - Setting start_time to some value works the same as explained above.
    # - If start_time is not specified, the swap will begin immediately after
    #   the CreateServiceNervousSystem proposal is executed. This facilitates
    #   testing in an accelerated manner.
    #
    start_time: 12:00 UTC  # Intentionally commented out for testing.

    # The duration of the decentralization swap. When `start_time` is calculated
    # during CreateServiceNervousSystem proposal execution, this `duration` will
    # be added to that absolute time and set as the swap's deadline.
    duration: 14 days

    # Whether Neurons' Fund participation is requested.
    neurons_fund_participation: true
1 Like
8

Can you explain how the special purpose vehicle works? I am just wondering how the U.S. government would feel if I showed them an NFT to prove ownership of some property.

3 Likes
9

Yeah it’s working now

1 Like
10

Greetings,

couple of questions after going through the Whitepaper - overall I think the concept makes sense, just three clarification questions:

Team:

    1. The team is currently still working full time on other companies/for other corporates. Are you planning to pull the team to full time working?

Approach:

    1. When the properties are being bought, who is the ultimate owner of those properties? Is it an individual within the DAO? Is it a legal entity (firm, etc.) under the DAO?
    1. There is a “management firm” for maintaining & managing the properties. Where is the payments for the management firm & the maintaining of the properties coming from?
    1. Why does it have to build on blockchain? Can’t this model be build on standard Web 2.0 infrastructure? Why the hassle of creating NFTs, if they are likely anyhow not legally binding for property laws in the respective jurisdictions.

Thanks for the replies upfront, looking forward to understand all your thought in depth.

1 Like
11

i like to know how the purchase of your tokens let me participate in the value of your company… or can i buy with it later parts of houses?

(do i own a part of the company or are those tokens used to buy fractions of houses later or am i only allowed to vote? i mean, i really do not understand the value of DAO coins-token at all.
are they not without value, like e.g. UNI, which is too only in concept a voting power tool and only because nobody thinks about it, buys it, thinking they get value, when people pay GAS in ETH while using the DEX.)

will i own parts of real estates automatically by holding the EstateDAO token? Or can i buy parts of houses with it or is it just for voting? .

Thank you.

2 Likes
12

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4 Likes
13

The properties sold on the EstateDAO platform would be acquired under a Special Purpose Vehicle (SPV) which would be a legal entity under the control of the DAO. The SPV would be responsible for everything related to the property that it owns, including the management and maintenance of the property and distribution of the rental income. The NFTs issued to the DAO holders who participate in the sale of the property would be representative of the shares of the SPV, thus providing them with the partial ownership of the said property. The expenses incurred in the upkeep and maintenance of the property (management fees, legal fees, compliance fees, etc.) would be adjusted in the rental income generated by the property and the balance would be distributed to the NFT holders as dividends from the property. This is a tentative structure for the ownership of the properties. We are working with some of the best legal firms and lawyers in Switzerland (who also work with Dfinity) to work out the exact structure of the organization to ensure complete compliance with the regulatory frameworks. We would be able to share more details in the near future.

Our product stands as an ideal fit for the ICP ecosystem due to several reasons, with technology playing a pivotal role. By harnessing ICP’s capabilities, we get a chance to create a platform that brings web into the forefront, offering enhanced security, and empowering communities with direct control. Thus, our vision aligns with that of the ICP ecosystem – to give back the power to the community. We aim to establish regulatory compliance and scalability within Europe before expanding globally. We are putting ongoing efforts to navigate evolving crypto regulations in Europe, focusing on the project’s commitment to legal compliance and responsible growth.

As per Pitchbook US VC Valuations Report 2023, the median pre-money valuation for pre-seed startups is approx. $10 million, while the average is closer to $18 million. Considering the prevailing investment landscape for pre-seed startups and the typical raise by the projects which have completed their SNS decentralization sales in the recent past, a conservative estimate of the pre-money valuation for the SNS sale has been established at under $5 million (approx. $4.8 million). This estimation is based on the minimum goal of raising 75,000 ICP for 25% of EST token supply, considering the 30-day average ICP price of $16.104 as of 09 April 2024.

EstateDAO is powered by a team of five dedicated contributors, with four full-time employees and one part-time employee working tirelessly towards making the project a success, led by the founders, George, Tina and Ayushi. The project is backed by a team of developers, having more than 15 years of development experience, working full time on the project. A lean team has enabled us to be agile, innovative, and efficient, qualities that are crucial for making significant strides for an early-stage project.

Our founder, George Bassadone, has been involved in the crypto space since 2017, giving him plenty of knowledge and experience. George has also been an active investor and contributor to the Internet Computer ecosystem since the Genesis event in 2021. This experience is invaluable in navigating the complexities of the crypto world and steering our project towards long-term success. Additionally, his experience of building a real-world business like AADS provides the pivotal experience required for building EstateDAO, a complex project sitting at the juncture of real-world assets and blockchain. Moreover, George has experience of purchasing and managing holiday homes in various countries for more than a decade and thus is very well versed with the process.

The team at EstateDAO is fully committed to make the project a success. It is important to note that the founders have vested their SNS tokens over a period of 4 years, ensuring that their interests are tied to the long-term success of the project, demonstrating their commitment and dedication to the success of the project. Notably, no tokens are allocated to the founding team at the genesis, in contrast to the token distribution of other projects, despite their contributions to the project for the last 2 years. This demonstrates the team’s commitment to the ongoing development and overall success of the project.

Of the remaining 750 million EST tokens (75% of the total supply), 520 million EST tokens are locked in the treasury of the project (52% of the total supply) to support the ongoing development of the project. Of the remaining 230 million EST tokens (23% of the total supply), 15% is allocated to the founding team and 8% to the seed investors of the project. Furthermore, as depicted in the whitepaper, the founders and the seed investors (despite being independent of each other) have a combined voting power of 48%, with the remaining 52% voting power being decentralized among the participants of the decentralization SNS sale. This ensures that the control of the project, and more importantly its treasury, remains with the DAO at all times, safeguarding the DAO token holders of the project.

4 Likes
14

Thanks for the answer @estatedao!

This helps a lot.

Last question from my side:
Do you have any dedicated strategy to create supply and demand on your platform initially? In essence marketplace models are just as successful as their initial traction, hence I would like to understand how your first supply/demand generation strategies will look like.

(you already outlined that you want to focus on Europe - any more insights you can give here)?

Thanks

15

Hi Tomimas,
Hoping all is well!!

Here is the latest evaluation of the product by Jerry. Link for the video :

https://youtu.be/q1lP_cRgeG4?si=LIBum94lg9XXQBcY

Thanks!

17

i have seen it already. wow, a 180.

so the estatedao coin from launchpad gives me now real part ownership of the project or still only voting power? i still do not get it. please explain.

18

The project does show quite a promise. Perhaps the only project on the IC dealing in real-world assets with significant potential. Merging real estate and blockchain is very interesting!

19

In addition to enabling participation in the governance of the project, the Estate Tokens (EST) would also have the following utility:

  1. Token Holders can use EST tokens to invest in properties listed for tokenization sale on EstateDAO. The investors would get an option to invest in multiple currencies such as USDC, ICP, ckBTC, ckETH, etc., in addition to EST.
  2. Similarly, EST would also be used for buying and selling EstateNFTs in the EstateMart marketplace for secondary transactions.
  3. The EST token would also power the MyEstate platform. This is the AirBnB-like platform using which users (token holders or otherwise) can book stays in the properties listed on the platform. This would be the primary source of income for the tokenized properties on the platform.
  4. The dividends distributed to the EstateNFT holders would be done using EST tokens.

Please note that EST ownership would not grant automatic ownership of the properties tokenized and sold on the platform. The users will have the privilege to pick and choose the properties they want to invest in and the choice of currency for that listing. The investors would be able to create their own individual portfolios tailored to their investment preferences.

1 Like
21

Jerry Invested in EstateDAO and gave an amazing review!

1 Like