LGT - Utility

This page provides details on the utility of the Legal Governance Token

INTRODUCTION

The primary utility of LGT is membership utility representing a LGT holder´s membership of GOV.DAO´s Legal Consensus Platform. Membership utility includes access rights to the Legal Consensus Platform, and the right to participate in rewards of $GVDT tokens issued to LGT holder´s who have participated in the activities undertaken on the Legal Consensus Platform.

LEGAL CONSENSUS PLATFORM

A core objective of GOV.DAO is to provide clients and the public with access to borderless Web3 legal and regulatory information and guidance. GOV.DAO aims to achieve this objective by operating its Legal Consensus Platform.

Using GOV.DAO´s DAO technology, the core purpose of the Legal Consensus Platform is to aggregate information and knowledge on the laws and regulations applicable to blockchain and cryptocurrency operations in all jurisdictions. In order to achieve this purpose, LGT holders will be incentivised by grants of $GVDT rewards in consideration for their contributions submitted on the Legal Consensus Platform.

MEMBERSHIP AND PARTICIPATION

The LGT token grants Legal Consensus Platform membership and access rights.

The LGT token will grant the holder contribution and voting rights on legal matters and decisions within the Legal Consensus Platform, allowing them to participate in the consensus mechanism.

In addition, and in accordance with the terms of LGT holder referral or service agreements, LGT holders will be granted priority access to participate in the services provided to GOV.DAO Advisory´s clients.

NOTE: GOV.DAO and GOV.DAO Advisory income does not accrue directly to LGT holders (except in the case of referral and service agreement terms or referral incentives - as detailed below). LGT holders are granted the opportunity to earn $GVDT as rewarded for their participation and contributions on the Legal Consensus Platform.

GOV.DAO ADVISORY WORK ALLOCATION

LGT holders in the relevant jurisdictions will be awarded work by GOV.DAO Advisory in accordance with applicable referral or service agreement terms.

Priority in Work Allocation: When new client work is received by GOV.DAO Advisory, LGT holders who have referred clients will be offered the work first. This prioritisation mechanism ensures that LGT holders who have actively contributed to client acquisition have the opportunity to engage in fulfilling the legal work.

Reputation-Based Priority: In situations where multiple LGT holders have referred an equal number of clients, the LGT holder with a higher reputation score will be offered the work first. This approach encourages LGT holders to maintain a strong reputation score within GOV.DAO's LGT community, in turn promoting trust and reliability.

Referral Incentives: LGT holders who refer clients to GOV.DAO Advisory will receive a referral fee in the range of 5% - 10% . This referral mechanism incentivises the referral of clients and rewards LGT holders for their contributions to GOV.DAO Advisory´s growth.