MTL token

From Montelibero

MTL is the name of the token in the Stellar stock, acting as the fund of the same name.

The following text is a disclosure of a public offer (user agreement, contract) for current owners and holders of MTL tokens. Any texts, as well as those related to certain obligations and actions, covering the interests of the MTL fund and its shareholders and contradicting this proposal, are void.

General Provisions

1.1. The MTL Foundation (as one of the competitive and alternative proposals that do not claim to own) functions consolidates and multiplies the capital manifestations in the Montelibero movement of members. As a business entity, first of all, it offers its investors a stable income, allowing them to free up their time and labor for solving less applied and utilitarian tasks. Secondly, the MTL Foundation is a structure that provides economic interest in the implementation of the Montelibero movement program associated with the overall increase in capitalization of assets, compatible with Montenegro and increasing the acceleration of development due to a higher degree of freedom of entrepreneurial and personal distribution. It is assumed that in the community of ideas of the export of freedom, the ethics of non-aggression and the developing economy, favorable conditions are created and maintained for mutual entrepreneurship and growth multiplication.

1.2. As the main platform for tokenomics (digital economy), MTL chose the Stellar network - as a solution, ubiquitous accessibility, low cost of use and prevalence. At the same time, the MTL-Foundation constantly continues to search for and solve development issues within the network of this visit, and more optimal solutions outside of it. One example of this kind is an observable MTL sub-fund that synchronizes with a recurring MTL fund a characteristic equity parameter that manifests itself as an independent structure based on liquid sidechain technologies and has a significant advantage of anonymity.

1.3. MTL tokens fix the financial contribution of participants to the joint capital of the MTL Fund and the property share and managerial weight of the token holder proportional to this contribution. Primary information about MTL tokens, including description, quantitative estimates, main characteristics of turnover and distribution, are posted on this page.

1.4. The public offer (contract) of the MTL token is accepted in connection with the outcome of the Council of Signatories, for which more than 2/3 of the votes were cast.

Property

Main Accounts

Ownership of MTL tokens (shares of the MTL fund) gives each of their holders the right to participate in the joint management of the following accounts, as well as receive the appropriate share of the profit, if any:

  1. Fund's main token emission account.
  2. Foundation Master Storage Distributor Account.
  3. Foundation Auxiliary Storage Distributor Account.
  4. Account for holding assets pledged to the Fund as collateral.
  5. Target account for the competitive distribution of the Fund's loan and investment funds.

Additional accounts and assets

2.2.1. Ownership of the MTL token also gives the right to indirectly manage the following accounts and assets through persons authorized by the Fund:

  1. Fund Automatic Dividend Account.
  2. Key rate allocation account in the EURMTL system.
  3. BTC Treasury Holding Group Liability Account; this storage itself can be controlled through the described here mechanism.
  4. Automated trading account for the benefit of the Fund.
  5. Distributed treasury holding accounts of the Fund's funds: 1, 2, [https ://stellar.expert/explorer/public/account/GC624CN4PZJX3YPMGRAWN4B75DJNT3AWIOLYY5IW3TWLPUAG6ER6IFE6 3];
  6. Legal entities registered in Montenegro and providing the Foundation with the opportunity to officially own property under local law, for example of the same name DOO.

2.2.2. The full set of assets and liabilities of the Fund is displayed in a report posted in the public domain on a special page of the site and updated daily.

2.2.3. Detailed information about all the main tokens affiliated with the MTL Fund is kept up to date in the specialized registry [1].

2.2.4. All the assets of the fund put on the balance sheet are subject to tokenization and their display in the consolidated financial report and on one of the above accounts of the fund, the presence of tangible assets directly affecting the declared value of the token and not fixed in this way is not allowed.

Other Assets

Media resources that are in nominal or partner ownership and management are affiliated with the MTL Fund. Most of the public resources of the MTL media network are presented in a navigation post in Montelibero's telegram channel. A detailed registry of media resources affiliated with the MTL Fund is available to members of the Council of Signatories and the Distributed Board of the Fund.

Management

Registers of shareholders

The primary register of MTL token holders (Fund shareholders) is published and updated in real time on the tab Asset holders page of the token in Stellar . The Github page shows the shareholder register in a more organized way. The finalized version of the register of shareholders, taking into account the redistribution of votes after their [2] is published in a special google.com/spreadsheets/d/1HSgK_QvK4YmVGwFXuW5CmqgszDxe99FAS2btN3FlQsI/edit#gid=171831156 google spreadsheet.

Council of Signers

3.2.1. The representative governing body of the MTL Fund is Council of Signers, which includes the first twenty holders of MTL tokens from the list, ordered in descending order of the number of votes, taking into account voice/ delegation.

3.2.2. During the period until the Fund reaches a steady state of equity decentralization (whereby any groups of closely related or otherwise highly dependent shareholders collectively hold no more than 33% of all voting tokens), the actual number of votes for each multisig participant is calculated using the logarithmic equalization formula, namely: log_ (2)_(number_mtl / 1000) + 1, or in verbal terms, "log base 2 of the thousandth of the number of MTL tokens plus one."

3.2.3. After the Fund reaches a steady state of decentralization of share capital, the logarithmic formula for calculating votes is replaced by a linear one, that is, the number of votes of each shareholder is equal to (or proportional to) the number of MTL tokens he holds.

3.2.4. The general rights of signatories, the rules of their interaction, the decision-making rules and other aspects of the activity of this body are established by the Rules of the JV MTL Fund.

Transparency

3.3.1. Draft decisions of the Fund before they are put to a vote in the Council of Signatories are broadcast in a closed telegram group and are available for discussion by the participants of this permanent meeting of shareholders. Any holder of MTL tokens can get an invite link to this group by contacting support using the telegram bot @mtl_helper_bot.

3.3.2. All decisions made by the Council of Signatories and signed with a multi-signature are formalized as transactions indicating the signatories who supported them and published on the blockchain. All significant decisions affecting the interests of the MTL Fund and its shareholders, after their approval by the Board of Signatories, are also published on the main media resources of the Fund.

3.3.3. To request any information on the Fund, make comments and make suggestions for improving its work, those who wish can use the most convenient communication channels for them, including:

Management expenses

3.4.1. The Fund does not spend equity capital on administrative needs and, in general, strives to keep direct management costs to a minimum level necessary to support its nominee legal entities and network platforms.

3.4.2. A significant part of the work in the interests of the Foundation is performed on a volunteer basis by participants in an open distributed network, whose useful activity is encouraged by voluntary from dividends] in accordance with the targeted instructions of specific shareholders of the Fund. The totality of significant (according to the consensus of the Board of Signatories) donors and recipients of such donations forms distributed board of the MTL Foundation, acting as the executive management body of the MTL Foundation.

3.4.3. In order to stimulate productive activities aimed at long-term growth in the price of MTL tokens, the Council of Signatories has the right to issue options to key solvent performers that give the right to deferred purchase of MTL tokens on preferential terms, but not lower than the book value at the time of issuing the option.

Investment strategy

In an effort to maximize capital protection from inflation and trying to maximize the amount of dividend payments while maintaining the growth of total capital and the price of each MTL token, the Fund operates within the framework of an investment strategy based on the following priorities and indicative standards:

  1. Up to 30% of the Fund's funds must be held in inflation-protected reserve assets - BTC and gold (secondarily - in other auxiliary foreign exchange reserves); during periods when the Fund's share in these components falls below this standard, investors are guaranteed the opportunity to purchase MTL tokens by direct exchange for these assets, as well as the priority right to withdraw from the Fund's capital in these assets at the current rate.
  2. The Fund will strive to keep at least 40% of the capital in real estate and related assets, if possible on the territory of Montenegro, counting on stable regular income in the form of rental and utility payments.
  3. The remaining 30% of the capital, the Fund will seek to invest in entrepreneurial projects of libertarians, giving priority to members of the Montelibero movement and residents of Montenegro.
  4. When distributing net profit, the Fund will focus on the following ratio:
    • 25% - for dividend payments to shareholders, in proportion to their contribution;
    • 75% - for reinvestment in order to increase the value of assets for each token.
  5. The Fund will strive to maintain the weekly accrual and payment of dividends.

Issuance and pricing

5.1. All Fund tokens are transferred in exchange for real assets at the standard price set by the issuer at the time of their sale. This makes it possible to control the emission of MTL tokens through the exclusive sale by the Fund of its tokens in the primary market, stimulating purchases of new and growing investors.

5.2. The standard price of MTL tokens in the primary market is set by rounding up to integer values ​​of the balance sheet value of the token (the total value of all assets on the Fund's balance sheet, divided by the number of tokens in circulation). At the same time, the Fund does not guarantee a reduction in the sale price of an MTL token at the time of its cost reduction. This makes it possible not only to protect the interests of early investors from possible dilution of their capital as a result of additional emission, but also to gradually increase capitalization.

5.3. The current standard price of the MTL token is indicated in the current financial report of the Fund (see clause 2.2.2) and regular (weekly and quarterly) reports.

5.4. Emission and sale of tokens at a price below the standard price (including liabilities in the Fund's options) on the date of issue without simultaneous transfer of assets for the entire amount of the issue to the Fund's balance sheet is not allowed.

5.5. The fund does not sell MTL tokens through the exchange, entrusting this function to the secondary market. The Fund can issue and sell tokens at a standard price in the amount of 1000 MTL on the basis of a written request via the shareholder chat or @mtl_helper_bot support chat.

5.6. The Fund cannot hold fiat MTL tokens. All MTL tokens that enter the accounts of the Fund are subject to liquidation (burning) by sending them to the emission account, thus increasing the value of the totality of the remaining tokens by the amount of the liquidated ones.

Exit Right

6.1. Each contributor (shareholder) of the Fund has the right to a guaranteed sale of the MTL tokens at his disposal to the Fund itself on the following general grounds:

  1. The Fund is obliged to make the specified buyback of MTL tokens no later than three months from the date of submission of the corresponding application in free written form via the feedback bot or in the shareholder chat.
  2. Repurchase of MTL tokens is carried out at a price not exceeding their book value at the time of redemption (the amount of the Fund's balance divided by the number of tokens in circulation).
  3. At the Applicant's option, the returned tokens will be settled in eurmtl or in the same asset in which they made their original contribution to the Fund's capital (at the current exchange rate), unless otherwise agreed by the parties.
  4. If it is impossible to make a settlement in the asset of the initial deposit (for example, due to the low liquidity of the remaining assets), the Fund has the right to use other assets available on the balance sheet for this.

6.2. MTL tokens received by the Fund as a result of a buyback are returned to the issue account and are automatically liquidated (withdrawn from circulation and accounting simultaneously with the assets that provided them).

6.3. The fund also provides an opportunity to urgently buy back MTL tokens, but only at a price below their book value.

6.4. The terms of the buyback may change by decision of the Board of Signatories or by agreement with the applicant in a particular situation.

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