Contributors
Last updated
Last updated
Any individual interested in participating in the NEOKingdom DAO as a Contributor can submit their KYC and other relevant documents to the DAO. If the person is approved, they will be gifted 1 share of the NEOKingdom DAO.
A Contributor is a shareholder of NEOKingdom DAO who, by a resolution of the majority of shareholders, has been given the right to contribute time to the DAO. Their contributions are tracked in time, which triggers the minting of NEOK tokens. These tokens give access to ownership, dividends, and voting rights in the DAO.
Of the three categories of shareholders, Contributors have both the widest rights as shareholders and the most restrictions:
they must be KYC-compliant and entered into the shareholders’ register;
they must be natural persons;
they can contribute time and receive NEOK in return;
they can invest money and receive NEOK in return;
they can propose new resolutions for consideration by the DAO;
they have the right to vote on resolutions;
they have the right to receive profit (based on the number of NEOK they hold);
they have the right to buy NEOK from other contributors on the internal market with a fixed price of 1 NEOK = 1 EUR;
they cannot sell NEOK on the secondary market without offering NEOK before to other contributors with a fixed price of 1 NEOK = 1 EUR;
their NEOK is taken into account while calculating the allotment of the NEOKingdom DAO ownership, governance, and dividend rights between all of its members.
As core members of the DAO, Contributors can participate in DAO voting, meaning they can play a role in the governing of the DAO. Voting rights are not distributed evenly among the shareholders of DAO but instead, correlate to the amount of NEOK held by each voting-eligible shareholder and the respective rights of each of the categories of shareholders. A Contributor can also delegate their voting right to another Contributor.
A Contributor can leave the DAO by notifying the DAO and gifting back or selling back their share of the DAO at their nominal value of 1 Euro per share. This action can be taken only after the Contributor has offered all of their NEOK tokens to the other Contributors.
