A DECENTRALIZED ENDOWMENT

How the new economy should be governed?

Background image for governance

As a tradition, governance is the exercise to migrate the power to make decisions over to end-users and operators from co-founders and the largest stockholders of many crypto-related enterprises.

For most, the handling of the funds is the core factor within the governance of any entity.

The general governance criteria of Walletever follow various parameters set through the five bodies that enforce it.

Walletever is an integrated platform influenced by the functionality of ₩EE, a standard ERC-677 asset. The structure of how governance works go through several layers and stages, led by the Office of the Executive Ambassador.

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Nuper turba hunc viseret foret vultus. Conversa turba orbem coeptis fossae liquidas. Innabilis membra est quisque evolvit praebebat vos his adsiduis. Matutinis caelo speciem capacius tempora posset: sic. Instabilis magni alta erat: unus divino obliquis igni turba.

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Nuper turba hunc viseret foret vultus. Conversa turba orbem coeptis fossae liquidas. Innabilis membra est quisque evolvit praebebat vos his adsiduis. Matutinis caelo speciem capacius tempora posset: sic. Instabilis magni alta erat: unus divino obliquis igni turba.

The OEA is the principal authority and manager of the Walletever Citizens Endowment Fund, WCEF, a non-profit global entity established for perpetuity to oversee its financial operations.

The WCEF will meet annually to debate core topics concerning the following:

State of Walletever

Debate issues from neighborhood councils.

Enforcing Endowment policies.

Analyze token economics concerning ₩EE.

New endowments sizes & purposes.

Monetary policy & Convertibility.

Mining adjustments & New launchings.

Protocol migration.

Approaches to forking & Increase security.

Node management criteria.

dAPP integration management.

Endowment debt ceiling.

The WCEF also approves the profit and loss report of the previous fiscal year, the expansion of its balance sheet through the Future Earnings Advancement program — that allows the fund to acquire debt for up to 100% of the size of its balance sheet; among other critical decisions affecting how Walletever operates.

Endowment-oriented governance

Although many decisions belong to the local Neighborhood Council quarterly meetings, some adjustments will need the approval of the Office of the Executive Ambassador. For instance, monetary policy discussions are held at the annual conference, while others concerning the distribution of funds within local geographies are part of the set of duties neighborhoods are responsible for.

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The Executive Ambassador is normally a position held by Walletever largest shareholder.

Concerning relevant decisions, the Office of the Executive Ambassador is the final recipient of all proposals submitted by local operating partners discussed and approved during the plenary at the Walletever annual conference. The event will occur every year in a city chosen from a list of the best world's performers from the previous year.

The remaining members of the Executive Direction are 12 persons from the global advisory group, an equivalent of a board of directors that applies the decisions based on submitted proposals that passed the scrutiny of three collegiate bodies representing neighbors' funds and their regions.

The principal members are two representatives of Walletever for each of the five Integrated Platform engines — president and vice presidents, plus two from two independent organizations.

The remaining three collegiate bodies are the Global Miners Alliance group, which is counting on three elected principals representing each registered country, and The Executors Team, at one principal member per associated nation.

The association of local WEE(f) Worldwide will be the fifth participant body forming the committee. All attending members have voting rights over issues that will eventually reach the Office of the Executive Ambassador for approval and signature.

Decisions are by a simple majority of the votes cast. Most voted issues and projects will seek executive approval from the OEA, and their implementation should start in a term not exceeding 45 days since the day of signature.

Organizing neighborhoods to adopt government-like functions.

FUNDS MANAGEMENT.

At least three executive officials are the components of every Neighborhood Council, along with the founder of the neighborhood chapter and a representative from the WEE(f) branch.

ELECTING MANAGERS.

Licensed miners would elect the officials from a group of candidates. Official elections will occur every 3 years, when miners go online to cast their votes.

LOCAL MERITOCRACY

Candidates must have the mining license active  and a 700 Civic Score at the time of presenting their postulation, or maintain a higher amount of funds invested in the system.

BEYOND MONEY

This requirement will have specific guidance concerning the amount and or percentages to determine how much in fund terms will make anyone qualifiable for a candidacy.

The local governing body forming the Neighborhood Council cannot make modifications concerning how the algorithm works or investment plans calculate terms and rates.

Dynamic Endowment

As a policy, Walletever financial principles are the decisions originated from the implementation of a self-funded, mining-generated Endowment fund. The Endowment oversees the managing and allocation of mining resources for a ₩EE equivalent amount close to US$10 Trillion, available for civic mining throughout the first 60 years —although WEE is set for perpetuity, beyond ₩EE exhaustion.

The Endowment will operate under Walletever Citizens Endowment Fund, WCEF, a non-profit global entity established for perpetuity to oversee any undertakings that may impact its network performance and reach.

WCEF is a wholly-owned and subsidiary unit of Walletever Prosperity Endeavors.

Initially, the process envisions the building of a viable source of funds for the Endowment through a period of 100+ years by pegging its asset generation to mining cycles. In other words, donations to the main Endowment are coming from mining cycle allocations.

The Cycles can be generated by mining assistance or without miners' participation.

Although funds are coming from automated mining cycles, their design will force its distribution among third-party licensed miners through direct investments under a Loan-to-Grant program that supports the funding of projects across 18 verticals in thousands of neighborhoods across 200+ countries and territories.

Action-hashed mining triggers the cycles that fund the Loan-to-Grant program. The L2G is the umbrella for CEO, a finance procedure where licensed miners either propose or get projects assigned for development based on an executive summary.

The goal to set the fund under an Endowment framework is to preserve the value of the principal in perpetuity.

Walletever selected to balance its fund strategy through the adoption of two endowment models a) True Endowment fund and b) Quasi-endowment fund.

Both mechanisms are pursuing the same long-term investment strategy with a slight differentiation as to how comptrollers manage the fund.

Although loans from the L2G program will be issued through WEE(f) branches at 1% APR, payable in 24 months, Walletever as a corporate parent, will manage several income sources coming from operations of the Integrated Platform entities.

As indicated above, this combined source of income will end up embedded into WCEF-managed endowments as well.

The Perpetuity Fund manages True Endowments, and it is compounded by:

₩EE or Token Fabric.

Minefield or Mining Adjusted Protocol.

VATx or Variable Asset Trading.

The Dynamic Forever Fund operates the Quasi-endowments identified here:

MAM or Mined Assets Marketplace.

dApp Hub.

Nodes operations.

To keep Walletever operations free from outside funding, itemized values like startup costs, working capital, salary and contracts, intellectual property, legal counseling, insurance, implementation costs, digital infrastructure, sales and marketing, and general running costs, including intellectual property rights, are integrated into OEA's ordinary budget.

The Endowment will disburse 15% of mining resources to cover running costs.

However, within the first two years of operations, Endowment might not meet the 15% goal as a consequence of a potential lack of miners operating within the system during the startup and ramp-up periods.

Endowment investing criteria

The main criteria behind the implementation of DiCap are bound to create prosperity from sources others than corporate payroll or ventures, traditional finance, and government funding. It paves the terrain to highlight a miners-funded P2P-equivalent Aggregate Lending program to finance projects and commercial initiatives.

 
 

Pursuing the Endowment investment composition, DiCap will consider the implementation of LPC guidance through the financing of projects proposed by citizens across 18 vertical-specific industries that are prone to impact the real economy, as described below:

Supported verticals should be those that generate more local jobs from volunteers' transition to entrepreneurship. Verticals are divided between two groups:

a) Essentials, 

b) Priorities, and

c) Supportive.

ESSENTIALS

This is a group of six verticals that are planned to receive the large amount of funds programmed by the Walletever endowment from CEO mining. 

 

That will be up to 60% of the total minted on a per cycle basis.

 

The main criteria for this decision is to increase the investment to spread production, distribution and marketing of verticals thought to be associated to people's essential needs for their wellbeing.

  • AGRICULTURE

    0%
  • URBAN INFRASTRUCTURE & CONSTRUCTION

    0%
  • HEALTH CARE

    0%
  • INFORMATION TECHNOLOGY

    0%
  • CLUSTER MANUFACTURING

    0%
  • HOSPITALITY

    0%
  • REAL ESTATE

    0%
  • ENERGY

    0%
  • WASTE MANAGEMENT & RECYCLING

    0%
  • EDUCATION

    0%
  • PROFESSIONAL SERVICES

    0%
  • ARTS & ENTERTAINMENT

    0%

PRIORITIES

SUPPORTIVE

Since traditional investment-intensive segments such as Education, Transportation, or Public Utilities are activities long-served by multinational corporations and governments, they might not receive much attention from miners' funds. It's reasonable to believe that their involvement will be from a more complementary and supportive position than as lead investors.

  • SPORTS

    0%
  • MEDIA & COMMUNICATIONS

    0%
  • RETAIL SECTOR

    0%
  • PUBLIC UTILITIES

    0%
  • TRANSPORTATION

    0%
  • FINANCIAL SERVICES

    0%

Open Funds Criteria

This funding source will feed small funds founded in partnership with local individualities across neighborhoods, cities, and nations.

Some of those funds will also be converted into Endowments to receive mined funds from WCEF. There will be minimum fund requirements to initiate an Endowment fund.

The minimum required to establish a neighborhood fund will be WEE 5,000

The minimum required to establish an open fund will be WEE 2,500

The minimum required to establish a vertical fund will be WEE 5,000

The minimum required to establish a sovereign fund will be WEE 150,000

Nevertheless, monies coming from smaller funds will invest outside Walletever Integrated Platform through sovereign funds that may be investing across various asset classes managed and controlled by external centralized structures where Walletever has no influence.

Public Equity (in the US and other developed nations)

Private Equity (in the US and other developed nations)

Hedge Funds (in the US and other developed nations)

Real Estate (in the US and other developed nations)

Natural Resources (in the US and other developed nations)

Corporate Bonds & Derivatives (in the US and other developed nations)

T-Bills (in the US)