I am considering creating a token of individual private equity.
Here's the basic idea:
- I'll create a token with a fixed supply, likely on BitShares. Let's call it d-token. 100% of the initial d-token supply is granted to my account 'd' on BitShares.
- There will be a fixed limit to how many d-tokens I can sell each month from the account 'd'. Perhaps this can be maintained as a smart contract, but otherwise it will be trust-based.
- At the end of each month, at my discretion I will spend an amount of money purchasing d-tokens directly from the market, at market price.
- At the end of each month, at my discretion I will burn an amount of d-tokens in my possession.
- Upon my death, as long as foul play was not involved, all my material and non-crypto wealth will be sold and the money used to purchase d-tokens from the market. Afterwards, all d-tokens in my estate will be burned. This part would be a binding legal contract (I would likely work with a lawyer on the details).
- At the same time, all crypto wealth I have shall be made irrecoverable. This is to counterbalance a potential incentive to bring about my early death, if my estate became valuable. As long as my crypto wealth is significant relative to my non-crypto wealth, and I am continuing to buy and burn d-tokens, it should be preferable to encourage my longevity rather than my demise.
- Fiduciary responsibility will be made very limited in this concept. There will be no responsibility to increase the value of the tokens quarter on quarter, etc. Instead the system will be intended to work on incentives and trust (this is not a trustless concept). I may have fiduciary responsibility to increase my net worth over the long term, to divulge honest estimates of my asset holdings (not necessarily going into details) and debts, to divulge any new debts I take on or if my net worth goes negative.
Are there any obvious flaws in this idea? And how would you address those flaws?
