Soakverse has been a long and arduous project for nearly 2 years now. We may be more degen than your normal business partner, but you’ll come to find some unique qualities within our team and community.
The web 3 space is rife with fraud and scams. The industry has its fair share of bad publicity. Which is why we spend so much effort to align ourselves to ensure we are adhering to all necessary laws and regulations. Our team is not short term focused, we’re here for the long haul.
To form our upcoming DAO we are utilizing our same securities and SEC specialized legal team that helped us prepare all the legal prerequisites to launch our securities offering through Reg CF for our #1 rated Madagascar resort this past year. Over the past 12 months we have personally invested tens of thousands across multiple attorneys in the US and Canada to ensure our ecosystem and products are adhering to applicable regulation and laws.
This month along with our NFT marketplace we are also forming and rolling out our highly anticipated Soakverse DAO. We needed a legal structure to work within and the Wyoming law that passed in 2021 to allow DAO’s to incorporate gave us the structure that we needed. Over the years our DAO will continually work to develop our own technology and invest in real world assets, and utilize blockchain for equity tokenization, dividend distributions, and much more.
Also, with Soakmont comes the benefit of utilizing proprietary US GAAP performance and reporting software that is already handling multi-billion dollar REIT operations. This includes capital table management, distributions, and tax reporting documents.
Our community members will own equity in a growing number of real-world assets. To start they will already own equity in Le Grand Bleu Resort and Soakmont Group. Soakmont Group LLC is an equity crowdfunding and management company that has developed the skills and knowledge to run lean campaigns and issue a multitude of securities. As Soakmont conducts raises it will retain small portions of equity in all campaigns, and across time it becomes a diverse holder of equity.
Within the ecosystem there are already numerous revenue generating assets and products, all of which have the full automatic distributions that was launched in August of this summer.
Transparency and automation are key principles of our project. And our developers leverage technology to work for us and make our ecosystem easy to manage. The money that flows in from web 3 and real-world assets is automatically distributed to the various DAO wallets that will be up to the DAO how to manage.
The treasury already holds thousands of dollars and the updated real time values will be displayed on our Soakverse Dapp for all 6 pools. Every 2 months there will be a vote to determine what to do with various wallets, such as the treasury. The DAO can either invest, save, or distribute to members as income.
We as founders are not naïve to the potential of what can happen when the decision-making power is handed off to the members, current and future. Money can buy power here, as it is a pure democratic system of voting. The investor level on your membership pass and the number of passes you hold are proportionate to your voting power.
The DAO was constructed with guardrails in place, so we have the highest probability of longevity and success. We have placed within the operating agreement that during any vote only 50% of the treasury may be invested in any asset. And if the DAO voted to distribute to holders, that only 15% of the total treasury is available to do so. Any changes to these rules require a 75% weighted vote in favor to be approved.
The DAO structure gives our members all the rights of privileges of regular LLC’s. Bank accounts, brokerage accounts, payroll etc. DAO’s are unique structures where members are co-owners and employees simultaneously. This dynamic represents a novel and powerful fusion of roles. To add another dimension the DAO can also hire contractors and employees who may or may not be members. This innovative structure capitalizes on the inherent principles of decentralization, ownership, and participation, redefining traditional paradigms of organizational governance.
Jobs available within the DAO will be spoken about this month in October and already a large document with various roles and responsibilities has been posted within the discord. We are seeking to be very profitable with acquiring real world assets that are high growth/high margin currently, or that can be with some management help. Our founders’ philosophy is that we care more about being a profitable DAO versus the biggest DAO.
A key vision is that we are a DAO of prudent investors and builders, the tip of the spear of analyzing the universe of possible investments for us. We want to build a company we are proud of and leave a legacy behind us.
There are 365 total membership passes in existence, which for a company is quite large; so our management and talent pool we expect to be quite diverse. We have already formed a tight nit community of professionals in various fields that have stuck together during the bear market. As we estimate over 90% of projects haven’t survived the last couple years, we within Soakverse have in fact not only survived but thrived.
More content about the DAO structure is available in detailed form within our discord. More will be released in the coming weeks.
For more information, come join us:
Discord: https://discord.gg/soakverse
Twitter: https://twitter.com/soakverse
