Terms and Conditions of Blockbury

Last Updated: 20/2/2025

1. Introduction

Welcome to Blockbury (“the DAO”), a decentralized investment organization governed by its members through NFT-based governance. By engaging with Blockbury, you agree to these Terms and Conditions, which govern your rights, obligations, and participation within the DAO ecosystem.

Blockbury operates through smart contracts, community voting, and a structured governance model. The DAO owns its assets, which are held in trust by a yet-to-be-formed Founders’ Holding Company. As the legal structure is finalized, governance will adapt accordingly. Your participation is voluntary, and you assume all associated risks and responsibilities.

2. Definitions

• DAO (Decentralized Autonomous Organization): A blockchain-based entity governed by NFT holders through decentralized governance mechanisms.
• Member: Any individual or entity holding Blockbury NFTs, granting them governance rights within the DAO.
• Smart Contract: A self-executing blockchain contract that automates governance, investment, and treasury management.
• Governance Token (NFTs): Non-fungible tokens that provide voting rights and access to DAO decision-making but do not represent direct legal ownership of assets.
• Founders’ Holding Company: A yet-to-be-formed legal entity that will hold the DAO’s assets in trust but without ownership rights.
• Council: A governing body elected by the NFT holders to oversee operations and investment strategies.
• President & Vice President: Elected representatives responsible for oversight, governance integrity, and veto power.
• Community Wallet: A treasury controlled by the DAO members for investments, operational expenses, and profit distributions.

3. Membership and Participation

3.1 Eligibility

To become a Blockbury member, you must:

• Own a Blockbury NFT, either minted during an official sale or acquired via secondary marketplaces.
• Acknowledge the decentralized nature of the DAO and the absence of traditional legal protections.
• Comply with applicable laws regarding crypto and DAO participation in your jurisdiction.

3.2 Member Rights and Responsibilities

• Governance Participation: Members can propose and vote on decisions, including investment strategies, budget allocations, and project governance.
• Financial Accountability: Members are responsible for understanding the risks of decentralized investing and should conduct their own research.
• Security & Compliance: Members must secure their crypto wallets and private keys, as the DAO is not responsible for lost or stolen assets.

3.3 Changes to Governance Structure

The DAO reserves the right to modify governance models, participation criteria, and operational processes through community voting.

4. Investment Strategy and Asset Management

4.1 DAO Asset Ownership

• Blockbury owns all DAO assets, which are held in trust by the Founders’ Holding Company (once established).
• The Founders’ Holding Company manages assets in a custodial capacity and has no ownership rights over them.
• The legal structure of the DAO’s asset management is subject to further research and development.

4.2 Fund Allocation & Investment Execution

• The DAO pools capital from members to invest in real estate, blockchain assets, and other high-potential opportunities.
• Investment decisions are democratically voted on and executed via smart contracts.
• Proposals are reviewed by the Council before submission for a community vote.
• Approved investments are executed by the Founders’ Holding Company, which applies a 10% service fee for execution and operational oversight.
• Profits are reinvested or distributed as determined by governance votes.

4.3 No Guaranteed Returns

• Investments carry risks, including market fluctuations, regulatory uncertainty, and smart contract vulnerabilities.
• The DAO does not guarantee any returns, and participants should only invest what they can afford to lose.

5. Governance and Voting

5.1 Proposal Submission

• Members may submit investment and governance proposals through the DAO’s official platform.
• Proposals must include a clear rationale, projected returns, and risk assessment.

5.2 Voting Mechanism

• Voting power is NFT-based (1 NFT = 1 vote).
• A proposal is approved if it meets quorum and required majority votes.

5.3 Veto Mechanism

• The President, Vice President, or Founders’ Holding Company may veto proposals that:
  • Violate the DAO’s constitution or governance framework.
  • Pose legal or financial risks to the DAO.
  • Compromise the long-term sustainability of investments.
• Veto decisions must be transparently communicated, and members may override vetoes via a supermajority vote.

6. Tokenomics and Rewards

6.1 Governance Tokens (NFTs)

• Blockbury NFTs provide governance rights but do not represent direct legal ownership of DAO assets.

6.2 Revenue Distribution

• Profits from investments are distributed based on governance voting outcomes and smart contract execution.
• A portion of funds may be reinvested for growth and sustainability.

6.3 Staking and Lock-Up Mechanisms

• The DAO may introduce staking rewards, token lock-ups, or other mechanisms as decided by community governance.

7. Risks and Disclaimers

7.1 Smart Contract and Market Risks

• Participation involves risks, including:
  • Market volatility affecting investment returns.
  • Smart contract vulnerabilities leading to financial loss.
  • Regulatory changes that may impact DAO operations.

7.2 No Legal or Financial Advice

• The DAO does not provide financial, legal, or investment advice.
• Members must conduct their own due diligence before participating.

7.3 Limited Liability

• The DAO and its founders, council members, and administrators are not liable for losses arising from investment decisions, smart contract failures, or external market conditions.

8. Regulatory Compliance

8.1 Member Compliance Responsibilities

• Members are responsible for ensuring their participation is legal in their jurisdiction.
• The DAO does not verify KYC (Know Your Customer) compliance but may adapt governance to meet regulatory needs.

8.2 DAO Adaptation to Regulatory Changes

• The DAO may modify investment strategies, governance models, and participation requirements to comply with evolving global regulations.

9. Amendments to Terms and Conditions

9.1 Governance-Driven Amendments

• Changes to these Terms and Conditions must be proposed and approved through DAO governance.
• All updates will be announced via official DAO communication channels.

10. Dispute Resolution

10.1 DAO Governance Mechanisms

• Disputes are resolved through DAO voting and arbitration processes.
• Members agree to community-based resolution mechanisms rather than traditional legal systems.

By participating in Blockbury, you acknowledge and agree to these Terms and Conditions. Continued engagement signifies acceptance of any governance-approved modifications.