Governance

If only voting were this simple.

Pre-ownership

Each EOI NFT holder is given the ability to vote on the purchase of a property. Open Earth Labs will open the voting window and the USD value of the EOI NFT will be equated to a voting percentage of the overall property. This percentage represents an estimate of the final property ownership percentage.

Open Earth will facilitate the purchase of the property on behalf of the holders who voted once the property has had 100% of it's value voted in favour of purchase. The voting is on a first come, first serve basis with voting closing once the in favour limit has been reached. Once the in favour limit is reached the funds are tranferred by the smart contract to Open Earth Labs to facilitate the purchase of the property. All voters accept that Open Earth Labs will hold the title in custody into perpetuity and that Open Earth Labs will remain the sole property facilitator and management agent into perpetuity. They also accept the fixed Open Earth Fees. They also realise they must KYC before they may vote on the property and if they don't cover the monthly expenses they will lose the right over their property ownership.

Should the in favour limit not be reached within the voting window then the voters can withdraw their EOI NFT's once the window closes and make use of these in future votes.

The property will be purchased and Open Earth Labs will generate a new smart contract governing the relationship between owners.

During Ownership

The ownership of the property is divided into 100 equal portions. Each portion is represented through a single unique Property Governance NFT. Each NFT will provide the holder to the right to cast a 1% vote over the property and gives the holder a 1% right to ownership of the underlying property.

At the start of each year Open Earth Labs will facilitate the voting rounds through the Smart Contract in the form of resolution NFT's. Each resolution will be voted on and the majority vote will decide the outcome of the resolution. Property Governance NFT holders will be given the ability each year to submit resolutions they wish to include.

The standard resolutions brought each year will be:

• Property Use: Private Residence, Vacation-share, airBNB with vacation share, rental etc.