In our proposed model, the lease structure is implemented as a formidable safeguard against Sybil attacks, specifically targeting scenarios where individuals might hire others to vote maliciously, thereby ensuring an additional layer of security. Under this system, even if a corporation falls victim to a Sybil attack through coordinated, malicious voting strategies, the lease agreement enforces a 99-year delay before any of the ill-gotten gains can be realized. This protracted period is deliberately established to discourage such attacks by rendering the temporal distance to potential benefits excessively burdensome, thereby protecting the corporation from swift and unauthorized subversion of its governance or control.
Theopetra Network State's Case Study #1 resident is under a standard 1-year lease. Moving forward, all properties will adopt the 'Forever Lease,' set to be open-sourced in Q1 2024. This overview provides key terms but is not the official language of the forthcoming legal document.
Fundamental Lease Terms:
Lessor: Theopetra Network State
Lessee: The Resident
Property Details: The property details will be highlighted in the lease agreement.
Occupancy: The lessee is required to occupy the leased space.
Lease Term and Rent:
Term Length: 99 Years
Rent Value: Set at market rate in the event of a turnover.
Rent Increase: Structured as follows:
Standard: 1% Increase per year
If CPI exceeds 12%: Increase rent by 2.5%
If CPI exceeds 16%: Increase rent by 4%
If CPI exceeds 25%: Increase rent by 6%
If CPI exceeds 51%: Maximum increase allowed per state guidelines.
Property Management: A property manager will be selected during the escrow process, prior to the property being purchased. This is approved at the closing packet.
Leverage and Tax Defaults:
Leverage Restrictions: No leverage allowed on the property; violation incurs a 50% market value fee to Theopetra, awarded to the resident.
Governance in the ByLaws will also prevent leverage, as well as title restrictions.
Tax Payment Defaults: If Theopetra Network State misses a tax payment, A 30% market value fee to Theopetra, and is awarded to the resident.
Repairs: All maintenance responsibilities of the property fall under Theopetra Network State. The repair approval process is linked here.
Residents earn $YIMBY as stated in the lease agreement at the time of signing. This amount if subject to change, depending on maintenance and what the citizens vote.
A portion of the net rents converted to $YIMBY would go toward the multiplier pool, which is highlighted here
The $YIMBY earned would be a gift, not guranteed, with Theopetra Network State not liable for any losses incurred from holding $YIMBY.