Frequently Asked Questions
What is a DAO?
A DAO, or Decentralized Autonomous Organization, is a community-led entity with no central authority. It is fully autonomous and transparent; smart contracts lay the foundational rules and execute the agreed-upon decisions, proposals, and voting. Read more in our blog...
The Kokonut DAO is the core vehicle for all fundraising, rewards distributions, and governance decisions.
How do I join?
Do members share ownership of the property?
No, Kokonut DAO members own the coconut plant as long as they hold their DAO shares. Each share is backed 1:1 with a real coconut plant on the land.
What happens if crypto goes down?
Kokonut Network is not affected by the crypto market because the Kokonut DAO only receives contributions in stablecoins. Coconut plants are bear-market proof, and the coconut market is on the rise you can see here.
What will the governance look like?
We have created a detailed flow chart on how governance and operations work within Kokonut Network.
Aren’t NFTs bad for the environment?
It depends on which blockchain you use. Kokonut DAO lives in the Gnosis Chain. The network consumes the same amount as two households in the USA, based on 2020 energy reports. For example, VISA uses the same energy as ~42,000 family homes to operate their network yearly.
What is the long-term plan?
Once the plants have reached the end of their useful life, we will replace them with new ones, thus restarting the production cycle.
Kokonut Network uses blockchain for transparency, governance & immutabliability
Are we going to be selling only coconuts?
The project's purpose is to plant and sell coconuts. We plan to open a voting process for the shareholders to vote on whether they want us to process the coconuts (milk, oil, etc.), thus increasing the rewards. The main philosophy of Kokonut Network is to distribute all the power and benefits among the shareholders and communities involved.
How much does each share (plant) cost?
Each share costs $20 (wXDAI, USD-T, USDC).
Where is the project located? Can I visit?
Yes, you will be authenticated with your Blockchain wallet and be issued a DAO Member Pass. The project takes place in the municipality of Las Salinas, province of Barahona, Dominican Republic. See location.
How much time until the first harvest?
Coconuts fruits usually take about ~3 years until they start bearing fruits.
I want to join, how can I?
We are here to help you with the process and have enabled a few channels where you can get in direct contact with us.