Shares in the operational company of GST DAO that will be tokenised in the future. 

Within our purpose-owned model all profits must be used to benefit nature. Due to this requirement, any dividends due to those holders of GSS must be paid in GST, ensuring all profits are retained by our purpose. This can happen in three ways: 

1. Net-profit from land-use is used to acquire additional land, which means additional GST are issued and in-turn distributed as GST.

2. Revenue in the form of GST from land projects can also be used for this purpose. 

3. The least favourable option whereby net-profit is used to purchase minted GST to distribute to GSS holders.

GSS supply 

The token generation event for GSS will be triggered once 10bn GST has been minted or on April, 22nd, 2035 (Earth Day), whichever is earlier. 

Once the token generation event has been triggered all shares in the capped-profit entity will be transferred into GSS, and proportionately distributed to the respective shareholders of the operating company. This holding is planned to represent 50% of minted GSS. These tokens will have governance rights as outlined in the Constitution. 

Shareholders of the capped-profit operating company will receive a share proportional to their shareholdings – 10 million GSS will be allotted for those shareholders. An additional 10 million are planned to be minted and allocated to the community, thus rewarding all members who have contributed to growing the DAO. 

Overview of allotment: 

*75% of the community reserve shall be allocated to the community members who are responsible for helping this DAO reach the token generation event goal. 25% will be held in a community reserve and distributed based on future contributions of existing and future members. The specific requirements for this will be determined by the DAO members, GST DAO entities and GST DAO operating company. 

Minting additional GSS:

It will be possible to issue and sell additional GSS following the token generation event. In order for this to happen there must be a vote from the shareholders which will trigger the issuance of said GSS. The income from the sales of said GSS must be used to further the special purpose of GST DAO. 

Proposals can be put forward by GSS holders with any vote being issued in adherence to the by-laws of the GST DAO operating company. 

Once these requirements are satisfied, GSS will be minted and sold on the open market, which will dilute all existing GSS holders.

GSS price 

As with the valuation of any company shares, the price will be dictated by the market. 

The value of the operating company may be determined by the sole access to contract the restoration and protection of nature on DAO held land. There may also be dividends paid to GSS holders in GST as mentioned above. 

Net-profit will be allotted in two buckets, the DAO Investment Fund and the GSS dividend pool. How this is calculated is described here:  

• GSS Pool: 50% of net-profit, capped at 10% of treasury revenue and issued in GST 
• DAO Investment Fund: 50% of net-profit, but uncapped

GSS dividends – example calculation: 

• Operational company revenue of $200m, minus costs of $150m = Net-profit $50m
• 50% of profit ($25m), capped at 10% of treasury revenue ($20m) = $20m 
• Then acquire $20m of land; mint $20m of GST, which is then distributed as dividends; 

This process is necessary to ensure that all of our actions serve our purpose, including any profit. 

GSS utility

GSS are tokenised shares in the operational company and must adhere to the by-laws of the operational company which may carry voting rights with regards to the operational company only. 

GST is our primary network token and as such, most governance decisions will be made using this token. Once distributed, GSS are not intended to be DAO governance tokens, their utility is to reward investors, contributors and our community, primarily in the form of GST. 

GSS demand

GSS represents shares in the operational company of GST DAO and will have a value as dictated by the open market. Holders may also receive GST as dividends in the future.