# Neokingdom

- A contributor is a contributor to a DAO or the Crown
- **In the future**, Neokingdom DAO should be able to buy any other DAO tokens on offer, including offers from its own contributors. -> plan smart contract solution accordingly, don't make it impossible to add

## Token offer

- Alice and Bob are contributors to the Teledisko DAO
- Alice holds 1000 tokens, and wants to unlock 500 of them
- Alice needs first to offer the tokens to all contributors
- Once tokens are offered, they are sent to a custodian contract (in this way Alice loses part of her voting power and dividends)
- Bob wants to buy 200 tokens from the offer
- Bob sends 200 EEUR to the custodian contract to match the offer
- The custodian contract transfers:
- 200 EEUR to Alice
- 200 Tokens to Bob
- A week passes, Alice's 300 tokens are unlocked. Alice can now:
- Either move them to an external wallet in order to trade the token in the secondary market
- Alice can transfer the tokens back to her contributor wallet, re-gaining her voting rights and her dividend rights
- Leave them in the custodian contract for other 53 days, after that time
- she can exchange them with the Teledisko DAO for the value of 1 EEUR each (if the Teledisko DAO has enough liquidity in the Trustworthiness Reserve) WITHIN 1 MONTH
- transfer them back to her contributor wallet
- she CANNOT transfer them to the secondary wallet

Note: (SHA 11.1) I can only sell to the DAO tokens that I earned over the last 15 months.
> 11.1. [...] A Contributor can redeem the unsold tokens with DAO within 30 days only once and the number of tokens is limited to that the Contributor has been rewarded for contributing time to DAO during the last 3 active months during the last 15-month period. A DAO vote can approve a higher number of redeemable tokens.

- 100 tokens in january
- I sell them to the DAO in October -> I can
- I work in June -> I still can
- I work in June, July, August -> I can't

- The 15-month period counts until the point I put the tokens inside the custodian contract. If I offer my tokens on the 14th month, they become sellable to the DAO on the 16th month, which is ok.

- Activity is only about minting, not about buy or receiving tokens

- Can I sell tokens to the DAO that I either received from outside or bought from other contributors? NO

## Contributor exit (a contributor becomes an investor)

- remove negotiation part
- downgrade to contributor w/out voting rights

### A contributor wants to leave a DAO

- Alice and Bob are contributors to the Teledisko DAO
- Bob has 1000 tokens
- Bob wants to become an investor, losing his contributor responsabilities and privileges
- He would like keep some tokens without offering them to the Teledisko DAO. He negotiates with the Teledisko DAO the terms and they agree that if he offers 600 tokens first, he can carry the rest.
- Bob offers 600 tokens to the Teledisko DAO, which are then bought from the other contributors
- Bob creates a resolution to be downgraded to Investor, despite his ownership of 400 tokens
- If the Teledisko DAO votes YES, Bob is an Investor with 400 unlocked tokens
- If the Teledisko DAO votes NO, negotiations has to start again

### A DAO wants a contributor to leave (distrust vote)

- Alice and Bob are contributors to the Teledisko DAO
- Bob has 1000 tokens
- Bob misbehaves and a mistrust vote against him is initiate
- The DAO votes yes and Bob is downgraded to Non Voting Contributor (he earns dividends, but his tokens are locked until offered and he cannot vote)
- If Bob decides not to offer his tokens, he will keep earning dividends, but he won't manage to vote or transfer his token elsewhere
- If Bob decides to offer his tokens, unless some other DAO memeber buys them, he will be able to transfer them on a different wallet after 7 days and trade them
- ~~Eventually, after other 53 days he can sell his leftover tokens to the Teledisko DAO for a value of 1 EEUR each (if the DAO has enough liquidity in the Trustworthiness Reserve).~~

## Teledisko joins Neokingdom

- Teledisko decides to join Neokingdom
- Teledisko undertakes a due diligence, evaluation, and verification process and KYB for Neokingdom DAO
- A person or entity appointed by Neokingdom DAO that has the knowledge to understand the application verifies Teledisko documents and if formally correct starts a resolution
- Neokingdom DAO votes the resolution to approve the joining
- The resolution is "broadcasted" to all neokingdoms
- Each neokingdom votes on the resolution (this means that the contributors cast their vote)
- The resolution is accepted
- A neokingdom is deployed for Teledisko, with all its contributors whitelisted (genesis resolution)
- Teledisko collects a sufficient amount of tokens (from contributors, 2ndary market etc) to achieve 10% of the total supply
- Teledisko sends 10% of their existing tokens to Neokingdom DAO
- Neokingdom DAO mints an equivalent amount of NEOK tokens and sends them to Teledisko DAO
- Neokingdom DAO whitelists Teledisko
- From now on:
- Every time Teledisko mints tokens, 10% are sent to Neokingdom DAO, who in returns sends an equivalent amount of NEOK to Teledisko DAO.
- Both tokens are vaulted/locked inside their respective DAOs (they cannot be withdrawn if not under specific conditions)
- Every time Neokingdom DAO creates a resolution, this resolution appears on Teledisko's governance proposals as well and can be voted by Teledisko's contributors
- The outcome of Teledisko's vote weighs on the Neokingdom DAO resolution for an amount equivalent to the proportion of Teledisko DAO's NEOK tokens
- Every time Teledisko deposits a profit, a part is used to fill the Trustwrthiness Reserve (according to the [Dividends - Neokingdoms](#Neokingdoms) section), and 10% of the rest is sent to Neokingdom DAO
- When the dividends resolution is voted and executed, Neokingdom DAO distributes its profit to Teledisko's, based on the proportion of NEOK tokens owned by Teledisko, according to what described in the [Dividends - Neokingdom DAO](#Neokingdom-DAO) section

Notes:

- NOTE 1: be sure to report whether the vault implies the existence of a different address owning tokens or not, as it may have implications on the legal documents
- NOTE 2: are we going to be able to change the 10% on the way? We should be able to change it over time. Non-retroactive.

## Dividends

### Neokingdoms
- Teledisko has 1000 supply (twr: 300 EUR)
- Teledisko has 200 EEUR in Trustworthiness Reserve
- Teledisko's accountant makes the annual accounting report
- Teledisko has 300 EEUR of profit this year
- Teledisko approves the annual accounting report (via a resolution) to decide:
- Whether the account report is correct
- How much of the profit is added to the Trustworthiness Reserve: (up to 70% to fill 30% of trustworthiness reserve)
- How much of the left profit will be distributed to shareholders: all of it
- Once the resolution is approved and executed:
- Teledisko puts 100 EEUR in Trustworthiness Reserve
- Teledisko decides to distribute all the remaining profits
- 10% of the 200 remaining (20 EEUR) are sent to Neokingdom DAO
- 180 EEUR are made available for the profit share among contributors
- EEUR are automatically distributed after the resolution is approved and executed

NOTE: apply the same layout to the following scenario

### Neokingdom DAO
- Neokingdom DAO has 1000 NEOK supply
- Neokingdom DAO has 200 EEUR in Trustworthiness Reserve (20% total supply)
- Neokingdom DAO has 100 EEUR in Commonwealth Reserve (10% total supply)
- Neokingdom DAO has 300 EEUR of profit this year
- Neokingdom DAO puts 50 EEUR in Trustworthiness Reserve (up to 35% to fill 25% of the trustworthiness reserve. Before it was 20%, Now it's at 25%)
- Neokingdom DAO puts 105 EEUR in Commonwealth Reserve (up to 35% to fill 25% of the Commonwealth reserve. Now it's at 20.5%)
- Neokingdom DAO decides to distribute all the remaining profits
- The dividends for that year are 145 EEUR and are distributed among the Neokingdoms and Investors and Contributors upon approval and execution of the dividend resolution

## Teledisko exits Neokingdom
### Teledisko wants to leave Neokingdom DAO, token swap

- Teledisko decides to leave Neokingdom
- Teledisko and Neokingdom DAO agree to re-swap the tokens
- Teledisko creates a resolution for exiting. The resolution also specifies that the tokens will be swapped again
- Neokingdom DAO creates a resolution to exit Teledisko.
- Both Teledisko and Neokingdom resolution pass:
- Continuous token swap between Neokingdom DAO and Teledisko is stopped
- Teledisko's vaulted NEOK tokens are transferred back to Neokingdom DAO
- A resolution will decide what to do with the NEOK tokens that now Neokingdom DAO holds
- Neokingdom DAO vaulted tokens from Teledisko are transferred back to Teledisko
- A resolution will decide what to do with the Teledisko token that Neokingdom DAO now holds
- Teledisko won't share any profit with Neokingdom DAO
- Teledisko won't receive any profit distribution from Neokingdom DAO
- Teledisko won't be able to vote in any resolution from Neokingdom DAO
- Neokingdom won't share any profit with Teledisko
- Neokingdom won't receive any profit distribution from Teledisko
- Neokingdom won't be able to vote in any resolution from Teledisko
- Both DAOs should be removed from each respective shareholder list and whatever technical token representing the share should be transferred back to the origin

### Teledisko wants to leave Neokingdom DAO, no token swap

- Teledisko decides to leave Neokingdom
- Teledisko and Neokingdom DAO agree to not re-swap the tokens
- Teledisko creates a resolution for exiting. The resolution also specifies that the tokens will not be swapped.
- Neokingdom DAO creates a resolution to exit Teledisko.
- Both Teledisko and Neokingdom resolution pass:
- Continuous token swap between Neokingdom DAO and Teledisko is stopped
- Neokingdom DAO vaulted tokens from Teledisko are unlocked
- A resolution will decide what to do with these tokens
- Teledisko's vaulted NEOK tokens are unlocked
- A resolution will decide what to do with these tokens
- Neokingdom DAO will keep receiving profit from Teledisko, according to its Teledisko token share
- Teledisko will keep receiving profit from Neokingdom DAO according to its NEOK token share
- Teledisko won't be able to vote in any resolution from Neokingdom DAO (Teledisko receives the Investor status)
- Neokingdom DAO won't be able to vote on Teledisko resolutions (Neokingdom DAO receives the Investor status)

### Neokingdom DAO wants Teledisko to leave (distrust vote)

- Neokingdom DAO makes a resolution to remove Teledisko from the Neo Commonwealth
- It will be specifically a "distrust" resolution
- The resolution passes
- Teledisko is downgraded to Non Voting DAO. From now on:
- Continuous token swap between Neokingdom DAO and Teledisko is stopped
- Neokingdom DAO's vaulted Teledisko tokens are unlocked
- A resolution will decide what to do with these tokens
- Teledisko's NEOK tokens in the vault remain locked
- Teledisko cannot vote on Neokingdom Resolutions anymore
- Neokingdom DAO will keep receiving profit from Teledisko, according to its Teledisko token share
- Teledisko will keep receiving profit from Neokingdom DAO according to its NEOK supply
- Technical support will be left up to the resolution content (whether to prolongue it for a few months or not)

### Teledisko rage quits (distrust vote)

- Teledisko makes a resolution to rage quit from Neokingdom DAO
- Neokingdom cannot vote that resolution, but they can still see it
- The resolution passes
- Continuous token swap between Neokingdom DAO and Teledisko is stopped
- Neokingdom cannot vote on any future resolution from Teledisko
- Neokingdom DAO's vaulted Teledisko tokens remain locked
- Teledisko's vaulted NEOK tokens are unlocked
- A resolution will decide what to do with these tokens
- Neokingdom DAO will keep receiving profit from Teledisko, according to its Teledisko token share
- Teledisko will keep receiving profit from Neokingdom DAO according to its NEOK supply
- Teledisko can keep voting on Neokingdom DAO's resolution

## Contributor exits a Neokingdom (e.g.: Teledisko)

- Total supply NEOKS: 1000
- NEOKS among whitelisted addresses: 500
- Teledisko owns 100 NEOKS
- Teledisko earns 20% dividends from Neokingdom profits (100 / 500)
- A Contributor leaves teledisko and takes away 50 NEOKS, without doing the KYC for Neokingdom DAO
- Now teledisko has 50 NEOKS, which is 11% (50 / 450)

# Multi Token

Problems:

- security risk, bugs, exploits: a lot of complexity in the Teledisko token contract is to handle contributors
- trust:
- it's difficult, takes time for secondary market investors to audit the token contact
- Teledisko Token is upgradeable, this is a no-go
- CØSMOS integration (EVMOS Token → Cosmos Coin): the simplest the implementation is, the easiest is to get a positive governance vote
- If there is any external already tokenized company that wants to join Neokingdom, it's going to be easier to wrap their tokens

TelediskoTokenWrapped

- Mintable ERC-20 by TelediskoTokenMinter

TelediskoToken

- ERC-20
- implements the SHA logic
- holds Contributors' TelediskoToken (wrap)
- `mint(to, amount)` only ResolutionManager

# Questions

- should we implement a functionality that allows someone to exit the dao without offering part of their tokens
- after distrust vote, can the not-anymore-contributor still offer the tokens to the DAO after the 60 days?
- what percentage of the profit should be taken in Neokingdom DAO to fill Trustworthiness Reserve and Commonwealth Reserve?
- if a company has already 95% of their tokens in the secondary market, do they have to buy back 5% in order to enter Neokingdom?
- when DAO exits with re-swap, should the contributors be able to redeem the tokens that they have contributed to Neokingdom DAO over time (10% of each mint)?
- when DAO exists without re-swap, should the contributors be able to redeem the NEOK tokens kept in vault when they exit?
- how do we deal with the case in which investors rush buy tokens in the 2ndary market before the dividend distribution and the rush sell them right afterwards?

# Idea

- When an exit token-swap is requested, both parties need to agree
- For this to happen, there should be a resolution that can only be voted by Neokingdom and Teledisko
- Alternatively, the exit token-swap could be outside of the exit deal. It could work as a simple "escrowed" token swap:
- Teledisko makes a resolution to accept "exit-swap"
- Neokingdom DAO makes also a resolution to accept "exit-swap"
- If both voted yes, the escrow contract marks this decision and holds the tokens until the exit resolution is over
- The exit resolution is created. When successful, it automatically checks the swap agreement and executes automatically the swap in case