> For the complete documentation index, see [llms.txt](https://docs.neokingdom.org/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.neokingdom.org/tokenomics/neok-substance/neok-valuation.md).

# NEOK Valuation

NEOK is accessible by anyone without limitations on the secondary market. Hence it is subject to classical token trading. Anyone can evaluate the value of NEOKingdom DAO, potential dividends, or any other metrics to determine NEOK price and trade it accordingly. This creates a scenario in which the NEOK price on the secondary market can be different from the 1:1 ratio of 1 NEOK = 1EUR as it is treated in the internal market between contributors.

This creates a clear distinction between the INTERNAL VALUE of NEOKingdom DAO and the EXTERNAL VALUE of it:

– Internal value = total NEOK supply x 1EUR;

– External value = total NEOK supply x secondary market price.

While the internal value simply represents the total value that has ever been put into the NEOKingdom DAO by time or monetary contribution, the external value represents the evaluation of external parties of what has been created and its possible profits.

It needs to be understood that this is a very experimental approach, and it is uncertain how investors and contributors will act if the discrepancy between the internal and external value gets significant. This potential discrepancy is also not a flaw but a deliberate feature that serves as an incentive for contributors to hold their NEOK rather than dispose of them shortly after minting. Furthermore, it enforces the “contributors first” approach, as the contributors will benefit from being able to sell the tokens, which represent the value they have added to the DAO, to traders for a higher price. On the other hand, traders will only pay a higher price for NEOK if the NEOKingdom DAO is actually successful and valuable, which incentivizes contributors to perform.

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