FAQ's
As a Beneficiary how can I be assured of getting the Offtake I’ve paid for?
The producer is a known entity who has agreed, as per a contract, to produce the goods which are part of the TOA. Failure to deliver affects their personal and professional reputations.
The producer of each project has a legal relationship with the project Guardian.The Guardian can therefore bring pressure to bear should the beneficiaries not receive their offtake as per the contract.
The Guardian of every project has a large amount of “Skin in the Game” (7%-20% of the TOAs) The Guardian only receives their offtake once all the beneficiaries have received theirs. Therefore there is a big incentive for the guardian to closely monitor the producer to ensure they deliver as agreed.
What if I don’t want to receive any more product, can I sell my TOA to someone else?
Either you can get the project's Sales Agent to sell the product on your behalf and send you the returns less commission. Or you can sell your TOA yourself. TOAs are NFTs which are fully transferable,as is any NFT. You can offer your TOA for sale in the Elyseos TOA marketplace (soon to be launched on this site) where you can look for a potential buyer.
How do I transfer this TOA to someone else?
Send it to their wallet address. If you offer it for sale in the marketplace, once your price is met then your TOA will automatically be transferred (buyers can also make you an offer)
What happens if there is an Act of God (drought, flood, earthquake) and there is no offtake for a given period?
There is a contingency fund in every project to help producers get back on track and hopefully between the producer and the Guardian they will be able to make up your offtake.
Some producers will also carry insurance for this eventuality which means they may be able to pay a cash alternative for the failed offtake period. Check the outline of their project to see if it includes insurance.
We are looking into TOA crypto insurance products which you may be able to buy to protect your TOA value in the future.
This happens in the world and people participating in projects take losses. The advantage of the TOA model is multiple backers can easily participate together which spreads the risk.
How do I know that this is a legit project?
For individual projects read their about page, examine the reports of the auditor, scrutinize the legal agreement presented by the lawyer and check out the Guardian’s bonafides.
For Elyseos - we are not anonymous so you can check out the members of the foundation and the DAO. Elyseos has been in the crypto space since 2021 and went through the brutal bear marketplace of 2022 and through it all members of the DAO kept showing up and delivering despite zero funding or general marketplace support. There are a lot of people who very much want this endeavor to succeed.
Who is Elyseos?
See our about page here
Are there any other projects similar to this?
There are number of general crypto crowdfunding models - none specifically for Sacraments or with a focus on an ongoing offtake. In the near future we hope to present more projects like this on this platform, check out our Governance page for proposals you can vote on here.