MEMORANDUM OF ASSOCIATION OF ELLYCIT INTERNATIONAL
The name of the company is ELLYCIT International.
The registered office of the company will be located in the jurisdiction where the DAO is established.
The objects for which the company is established are to engage in decentralized autonomous organization activities, including but not limited to the creation, management, and trading of Non-Fungible Tokens (NFTs) and related blockchain-based assets.
The authorized share capital of the company is unlimited.
ARTICLES OF ASSOCIATION OF ELLYCIT INTERNATIONAL
Article 1 - Definitions
In these articles, unless the context otherwise requires, the following expressions shall have the following meanings:
"Blockchain" means a decentralized public ledger used to record transactions on a peer-to-peer network.
"DAO" means a Decentralized Autonomous Organization, which is an organization that operates using blockchain technology and smart contracts.
"Member" means a person who holds an NFT or other blockchain-based asset that provides voting rights in the DAO.
"NFT" means a Non-Fungible Token, which is a unique digital asset that represents ownership of a specific piece of data or media.
"Smart Contract" means a self-executing digital contract that is stored on a blockchain.
Article 2 - Name and Registered Office
The name of the company is ELLYCIT International, and the registered office of the company will be located in the jurisdiction where the DAO is established.
Article 3 - Objects
The objects for which the company is established are to engage in decentralized autonomous organization activities, including but not limited to the creation, management, and trading of Non-Fungible Tokens (NFTs) and related blockchain-based assets.
Article 4 - Membership
4.1 Membership of the DAO is open to any person who holds an NFT or other blockchain-based asset that provides voting rights in the DAO.
4.2 Members have the right to participate in the decision-making process of the DAO through voting on proposals.
4.3 Members may be required to comply with any rules or regulations set out by the DAO.
Article 5 - Decision-Making
5.1 Decisions of the DAO shall be made by the voting of Members.
5.2 Each Member shall have one vote on each proposal.
5.3 Proposals may be submitted by any Member of the DAO.
5.4 A proposal shall be deemed passed if it receives a majority of the votes cast by Members.
Article 6 - Smart Contracts
6.1 The DAO shall operate through the use of smart contracts, which shall be self-executing and enforceable.
6.2 The rules and regulations governing the operation of the DAO shall be encoded in the smart contracts.
Article 7 - Amendments
7.1 These Articles may be amended by a special resolution passed by the Members of the DAO.
7.2 The Memorandum of Association may be amended by a special resolution passed by the Members of the DAO.
Article 8 - Dissolution
8.1 The DAO may be dissolved by a special resolution passed by the Members of the DAO.
8.2 In the event of dissolution, any assets of the DAO shall be distributed among the Members in proportion to their ownership of NFTs or other blockchain-based assets that provide voting rights in the DAO.
IN WITNESS WHEREOF, we have executed these Articles of Association as of the date and year first above written.
Signature of Member
