For informational purposes only. This document does not constitute legal, investment, financial, or tax advice.

 

1. Nature of the Project

REIT DAO is a decentralized governance and coordination framework designed to facilitate collective discussion, decision-making, and execution of initiatives related to capital allocation and real estate–related activities.

At the current stage, REIT DAO:

  • does not operate as an investment fund, investment company, or collective investment scheme;
  • does not provide investment advice, asset management, or fiduciary services;
  • does not act as a trustee, agent, or discretionary manager on behalf of participants.

Participation in REIT DAO is voluntary and based on independent decision-making by each participant.

 

2. Participants and Responsibility

Each participant:

  • independently determines whether and to what extent to participate;
  • independently contributes capital;
  • independently participates in governance processes through DAO mechanisms;
  • bears sole responsibility for assessing the legal, tax, and regulatory implications of participation.

At the current stage, there is no centralized entity or person assuming responsibility or liability toward participants or third parties.

Participation in REIT DAO does not create a partnership, joint venture, agency, fiduciary, or trust relationship under applicable law.

 

3. Capital Control and Governance

Participant funds are held in a DAO-controlled treasury wallet, governed exclusively through on-chain governance mechanisms.

  • No individual, promoter, core contributor, or third party has unilateral or discretionary control over DAO funds.
  • Any use of funds, including real estate acquisitions or related transactions, requires prior collective approval through DAO voting.
  • Transactions are executed strictly in accordance with approved governance outcomes.

 

4. Use of SPVs and Nominee Holding Model

Where real estate assets are acquired, legal title is held through Special Purpose Vehicles (SPVs) established in the jurisdictions where such assets are located.

  • SPVs are incorporated in forms permitted under local law (e.g., LLC, Ltd, or equivalent entities).
  • Each SPV is established solely for the purpose of holding a specific asset or asset group.

SPVs act as nominal legal holders and do not possess independent authority to dispose of, encumber, or materially modify the underlying assets.

Such limitations are enforced through:

  • mandate or agency agreements binding the SPV to DAO-approved decisions;
  • restrictions embedded in the constitutional and governing documents of the SPV;
  • contractual prohibitions on asset disposal or encumbrance without DAO authorization;
  • mandatory on-chain approval for material actions.

SPV representatives are appointed and may be replaced pursuant to DAO governance decisions.

 

5. Potential Legal Formalization of the DAO

At subsequent stages, the project may pursue formal legal recognition of the DAO through incorporation or registration in a suitable jurisdiction, including jurisdictions offering dedicated DAO frameworks.

In such case:

  • the DAO may function as a legally recognized coordination and governance entity;
  • the DAO may act as a founder, shareholder, or controlling party of SPVs, where permitted by applicable law;
  • the overall structure may be adapted to support tokenization, compliance, and institutional engagement.

No assurance is given that such legal formalization will occur.

 

6. Tokenization (If Implemented)

Any tokenization, if and when implemented:

  • does not represent direct ownership of real estate;
  • does not constitute equity, shares, securities, or financial instruments, unless explicitly determined otherwise under applicable law;
  • does not imply guaranteed returns, profits, or dividends.

The rights and functionality associated with any tokenized instruments are defined solely by:

  • DAO governance rules,
  • applicable smart contracts,
  • relevant legal and regulatory frameworks.

 

7. KYC / AML and Participation Restrictions

To align with international compliance standards:

  • Know-Your-Customer (KYC) and Anti-Money Laundering (AML) procedures may be conducted through independent third-party compliance providers;
  • acceptance of participants or funds may be conditional upon successful verification;
  • participation from certain jurisdictions may be restricted or excluded.

Governance actions are recorded on-chain, while personal data is processed off-chain in accordance with applicable data protection laws.

 

8. Risks and Legal Notice

Participation in REIT DAO involves legal, regulatory, technological, and market risks.

  • No representation or warranty of economic benefit or capital preservation is made.
  • Regulatory treatment of DAO structures and tokenized arrangements may vary by jurisdiction and evolve over time.
  • Participants are solely responsible for evaluating the consequences of participation under applicable laws.

This document does not constitute an offer, solicitation, or recommendation to engage in any transaction and is provided solely for informational purposes.