Government_Gazette_Lootversian_Levy_Final

SUPPLEMENT LOOTIZENS THE REVENUE CODE OF LOOTVERSE (THE LOOTVERSIAN LEVY) Government Gazette OF P U B L I S H E D B Y A U T H O R I T Y No. 002] [2022. 1 s t F E B For the benefit of all Lootizens. This 1st of February of H.M year 2022 Preamble. The Lootversian Levy supports the pursuit of happiness of all Lootizens and provides a mechanism to ensure that Lootverse, our parallel fantasy world, functions efficiently. It focuses on three aspects, firstly, how the LTT is removed from circulation, secondly, the redistribution of LTT as a reward to Lootizens, and, lastly, the proper management of the ecosystem. The Lootversian Levy 01 RCL 22 1 of 5 A simplified Lootversian Levy Legislation For the Benefit of the Lootizenry Definitions. BUN or Bid Units mean tokens used in a game to determine the rate of issuance of $LTT to the relevant Lootizen. Commodities mean tokens released from Lootversian natural resource fields or utility plants. Commodities may be sold for $LTT or consumed In-World. Credits mean tokens that are used to purchase LTT, BUN and pay for the shipping of physical items. In-World means activities conducted within the Lootversian ecosystem. Loot NFT means Loot NFT Co., LLC and or the Lootversian Foundation. Lootizens refer to users of Lootverse that have an In-World residence. Lootizenry refers to derivatives of Lootversian culture or to Lootizens as a whole. Lootverse means the first discovered parallel world, a fantasy and gamified metaverse. Lootversian refers to embodiments originating from the Lootverse, made or otherwise as an extension of the Lootversian Core System. Lootversian Core System means the technology infrastructure that runs Lootverse. It is managed by Loot NFT, can be extended by Lootizens through portals (bi-directional integrations from Plots) to third party applications, and amended from time to time with the input from the Parliament. LTT refers to Loot Tickets, the In-World currency of Lootverse. $LTT means LTT that can be sent Off-World or sold for USDC via the relevant Portal Operators. $LTT result the sales of products or services sold within Lootverse. NFT means Non-Fungible Token. Off-World means activities outside of the Lootverse. Parliament refers to a governing body made up of Lootizens, known as the parliamentarians, that provides input to Loot NFT regarding matters of importance to the welfare of Lootverse. The Parliament may decide on motions in real-time to vary the Lootversian Core System's parameters autonomously (when that functionality is available), but only with respect to parameters allowed by Loot NFT. Plot means Lootversian virtual land that is an NFT. (For clarity, Plot owners can also mint four (4) NFT stories from their NFT Plots) Portal Operators mean Lootizens, or entities having a nominated responsible Lootizen (or Lootizens) that offer products and services within Lootverse from Plots (i.e., portal integrations). Realm means the six (6) realms of Lootverse, being The Great Empire, El Territorio, The Medici Principality, the Isle § Worker means a Lootizen entitled to receive LTT airdrops from Portal Operators. For avoidance of doubt, no work is required and the activity does not create an employer-employee relationship. The term "worker", "Job", and "employee" in this context are fantasy terms. Plot Zoning refers to Plot types entitled to different rewards in Lootverse. Interpretation. Words used herein in the singular, where the context so permits, shall be deemed to include the plural and vice versa. Article 1. The Lootversian Levy. (A) The Lootversian Levy is an LTT or $LTT contribution levied from Lootizens and Visitors In-World, subject to Article 1(D), for the following activities: (i) The sale of products by Lootizens in Satoshi's Lounge. (ii) The sale of products or services by Portal Operators. (iii) The sale of Commodities. (iv) Rental of Units. (v) The sale of $LTT, or the transfer of $LTT Off-World. (vi) The sale of products and services by Loot NFT. (B) The proceeds of sale under Article 1(A)(i), (ii), and (iii) shall be received by the seller in $LTT, whereas a sale of $LTT under Article 1(A)(iv), shall be received by the seller in USDC. All such sales must be 2 of 5 of Talos, Le Royaume De Satoshi, and the Kingdom of Xbysl. Ruler means either a Plot owner or a Lootizen that has won a war to take over as a Ruler of a particular Plot (or, in the case of an army, then Lootizens forming part of that army). Satoshi's Lounge means the official marketplace of Lootverse managed by Loot NFT. Stakers mean Lootizens that have converted their LTT to accede to a percentage share of all BUN sales in Lootverse, rewarded in Credits. The Fund means a fantasy management financial portal for In-World activities managed by Loot NFT. Government refers to the gateway for users to register and become Lootizens pursuant to the terms and conditions of citizenship in Lootverse, and manage their Lootversian affairs. The Government is the gateway for Off-World currency to enter Lootverse and the relevant Lootversian Currencies to exit Lootverse. Unit means a virtual space that is an NFT and that can be sold or rented to Lootizens for $LTT. Units are part of Buildings that are also NFTs. Buildings are located on (or tagged to) Plots in Lootverse. USDC means USDC credits that are extractable Off-World to USDC ERC20 via the relevant Portal Operators. Visitor means a temporary user of Lootverse (i.e., a user without a residence in Lootverse). The Lootversian Levy 01 RCL 22 initiated from The Fund by sellers. (C) The rates payable for the Lootversian Levy is set out in Article 2, as amended from time by Loot NFT which may be guided by the input of the Parliament, or by the Parliament autonomously if allowed by the Lootversian Core System. (D) Any transfers of $LTT to LTT, USDC to Credits, or Commodities for use In-World are not subject to the Lootversian Levy. (E) Transfers of USDC Off-World to USDC ERC20 are not subject to the Lootversian Levy. Article 2. Levy Rates and Use. The figure in Schedule A, which is provided for illustrative purposes only, describes the manner in which the Lootversian Levy is contributed. The following Levy rates apply: (A) All sales in Satoshi's Lounge, except for the sale of products or services by Loot NFT, shall attract a ten percent (10%) Lootversian Levy paid by the relevant seller. This is applied as follows: (i) 7% to Stakers in LTT; (ii) 2.5% burned; and (iii) 0.5% to Plot owners of Plot Zoning Type W-X, subject to Article 3 (B). (B) All sales of products or services by Portal Operators shall attract a ten percent (10%) Lootversian Levy paid by the relevant Portal Operator. This is applied as follows: (i) 5% to Rulers in LTT; and (ii) 5% to Workers in LTT. (C) All rent received by Unit owners shall attract a ten percent (10%) Lootversian Levy paid by the relevant Unit Owner. This is applied as follows: (i) 5% to Rulers in LTT; and (ii) 5% burned. (D) All Lootizens selling Commodities for $LTT and or $LTT to USDC, shall attract a five percent (5%) Lootversian Levy paid by the seller. For a sale of Commodities, the levy is payable in $LTT; for a sale of $LTT, the levy is payable in USDC. (E) All Lootizens transferring $LTT Off-World, shall attract a five percent (5%) Lootversian Levy as an exit tax paid by the transferor. (F) All products and services offered by Loot NFT shall attract a Lootversian Levy of one hundred percent (100%). This shall be applied as follows: (i) 98% burned; and (ii) 2% for a Lootizen rewards fund in LTT for randomized events known as "God Matrix" events. The fund is used to credit the relevant Lootizen accounts following these events. Article 3. Manner in which the Lootversian Levy is paid, and further Lootizen benefits thereunder. (A) 2% of all LTT burned in Lootverse shall be shared between Plot owners of Plot Zoning Type W-T and W-S, subject to Article 3 (B), as follows: (i) 1% shared between Plot owners of Plot Zoning Type W-T zoning; and The Lootversian Levy 01 RCL 22 3 of 5 (ii) 1% shared between Plot owners of Plot Zoning Type W-S zoning. The distribution of LTT to Plot owners of Plot Zoning Type W-X (the Kingdom of Xbysl), W-S (the Royaume De Satoshi), and W-T (El Territorio) shall be a pro-rata of the number of Plot NFT stories minted for said Plot, to that of all plot stories minted by other Plot owners in the same Realm. Article 4. General Provisions. (A) Lootverse is a fantasy parallel world that aims to mimic real world interactions with gamified elements. Terminologies, such as "Government", "Parliament", "The Bank of Lootverse", "Legislative Provisions", and the like must be taken in that context. For clarity, the Lootverse Levy address the payment of fees for the sales of products and services within Lootverse, similar to a marketplace and app store. (B) The manner in which sales of LTT, $LTT, and Commodities are performed shall be as prescribed by Loot NFT, which may be subject to change from time to time, at Loot NFT's discretion, with the input of the Parliament. (C) To the extent the provisions contained herein are inconsistent with those contained in any other document, instrument or agreement executed pursuant hereto, the terms and provisions contained herein shall control. Otherwise such provisions shall be considered cumulative. (D) Loot NFT in its discretion may interpret the meaning and application of the provisions contained herein, with the input of the Parliament. The Lootversian Levy 01 RCL 22 4 of 5 The Lootversian Levy 01 RCL 22 5 of 5 Schedule A To The Lootversian Levy Legislation An illustration of how the Lootversian Levy is applied in Lootverse. For Sales to LTT, a Portal Operator exchange may charge a fee. However, the sale to $LTT includes the Portal Operator fees. LTT 100% 90% Satoshi's Lounge Lootizen Sales In-World Transfer (0%) In-World Wallet Commodities Sales to $LTT 7% Stakers (LTT) $LTT Off-World USDC Sales (5%) Cross-World Wallet USDC Transfer (5%) $LTT Transfer (5%) 95% 90% 90 % 100% Portal Operator Sales Rentals Loot NFT Sales Miners Issuance 100% Credit Sales Commodities Sales 0.5% Plot Zoning W-X (LTT) $LTT Sales (5%) 5% Rulers (LTT) 5% Workers (LTT) 5% Rulers (LTT) 5% Burn (LTT) 98% Burn 2% God Matrix 2.5% Burn (LTT)