Tokens

Tentative and NOT legally binding framework

  • For the time being, Rabbit Hill will be managed by a B.V., a Dutch private company with limited liability.

  • In practice, the intention is to set up Rabbit Hill as a Decentralized Autonomous Organization (DAO). The transition from a B.V. to a DAO will be organic and will depend on how Rabbit Hill evolves and the regulations surrounding DAOs as these become clearer.

  • Rabbit Hill wants to issue and sell tokens. These are images, comparable to Pokémon cards. The DAO decides on the final design of the images and how their ownership will be registered.
  • The value of a token is ultimately determined by the utility it brings.
  • The utility of Rabbit Hill tokens will consist of:
  1. Access to a pleasant place where deeply human experiences and values are quintessential.
  2. Profit sharing in COBstr.
  3. Knowledge. At Rabbit Hill we believe in “learn more at any cost.” A healthy brain needs knowledge. Ultimately, we believe this is more valuable than “earn more at any cost.”
  • Although the tokens will NOT initially be minted on a blockchain, the Rabbit Hill DAO plans to grant buyers a (modified) “Can't Be Evil Exclusive Commercial Rights With No Creator Retention” (CBE_ECR) license. Please check the Rabbit Hill license carefully and always do your own research before considering a purchase.

  • Buyers can apply to Rabbit Hill if they wish to record their token on the blockchain at their own risk and expense through a smart contract. Rabbit Hill will consider approval if appropriate steps have been taken to continue to safeguard the project.

  • Irrevocable maximum total supply, which may never be exceeded: 21 million tokens. When the time comes, this will be recorded in a notarial deed.

  • Initial offering: 1,000 tokens.

  • 1 token equals 1 vote in the Rabbit Hill DAO.

  • The target price of the first tokens will be EUR 01.00 per token.

  • There will be a maximum number of tokens per buyer unless Rabbit Hill agrees otherwise.

  • To use the Rabbit Hill facilities we ask one token per day.

  • 1 million tokens will be reserved for a charity to be determined by the DAO.

  • 1 million tokens will be reserved for the past/current/future team and contributors to the DAO, at a target price of EUR 0.50 per token. This option is valid for 5 years or as long as the relevant holder remains involved with Rabbit Hill. These holders have voting rights regardless of whether they have exercised their option or not.
  • The maximum number of options per holder is 10,000, unless Rabbit Hill agrees otherwise. In addition, holders can purchase a maximum of 10,000 additional regular tokens with associated voting rights at the target price of EUR 01.00.
  • The burning of tokens, future supply, or fractioning: voting will take place among token holders (simple majority).

  • Allocation of funds (e.g. arising from the sale of tokens or profits made from COBstr): voting by simple majority among token holders. As the DAO grows, voting will be automated and may be managed by blockchain technology.

  • Treasurer: to be announced.