CryptoArena is established as a hybrid legal entity, composed of two parts, both of which are immutably bound to predetermined behavior for the purpose of the role they perform, including both legally and practically, through audits and smart contracts.
Is a Dutch Besloten Vennootschap, a for-profit Corporation representing the collective interests of ARENA Security Token Holders (the shareholders). This includes all Founders, staff, and other ARENA Holders.
When you buy ARENA Security Tokens, you become a shareholder of CryptoArena, and acquire all legal rights that this implies in a "traditional" public company, plus a couple extra, unique to our proposal.
Is a Dutch Stichting, an owner-less, non-profit Foundation created for the purpose of operating the exchange, and the underlying business, and all that this implies, including offering fee-bearing commercial services, but may not retain any profit and has no claim of ownership, over the business, its proceedings or assets.
In very practical terms, self-decentralization is the process by which outstanding Tokens are repurchased & transferred from the Company (profit motive) to the Foundation (non-profit).
Achieving self-decentralization, means that all outstanding common stock, sold previously to raise capital for development and operations, has been repurchased, and no shareholder remains, other than an entity that cannot retain profit, both legally and practically; thus making all revenue generated by the business available for distribution to the (active) users of CryptoArena through the Glory System.
CATS holders may stake their tokens to participate in decision making relating to the governance of the organization, through (democratic, pro rata, censorship-free) decentralized voting.
NFT Arena a solidity smart contract DApp (Decentralized Application) deployed through the Ethereum blockchain by the CATS DAO. It is an ERC 721 based (NFTs) competitive trading card game using the NFTs as assets and CATS as currency.
Our first product is Gas Tracker - Coming Soon to Android (and more to follow)
Virtus is a Dutch non-profit Foundation created by Lorenzo Ferrari, Leonie Forsman and Robert Miller, the cofounders of CryptoArena, to develop Open Source technologies for the decentralized future.