What is Klismos?

Klismos is an investment share in eDemocracy DAO, represented by an NFT of a chair.

Klismos owners have economic rights, including the right to share in 5% of the revenue. They also hold special voting rights.

There will be 25,000 Klismos in the first Class of Klismos shares. We have commissioned 250 unique digital artworks of chairs, and each of these will be sold as a series of 100 NFTs for $100 each.

The Klismos artwork can be seen here.

Why “Klismos”?

The ancient Greek Klismos chair is sometimes referred to as the “mother of all chairs.” Alongside the association of ancient Greece with democracy’s origins, the Klismos chair represents the democratic idea of a place at the decision table.

Who can purchase Klismos?

Members of eDemocracy Coop can purchase Klismos. In this regard, there are two categories of Members:

• Restricted: Members who have spent less than 50 recorded hours on eDemocracy roles can invest their Thelo earnings in Klismos, but that is the limit.
• Unrestricted: Members who have spent more than 50 recorded hours can buy as many Klismos as they want, as can Members who qualify as “accredited investors.”

Organizations can also purchase Klismos upon the approval of the Board, however, they must designate a Member to vote their Klismos.

What rights do Klismos Owners have?

• Revenue Share: Klismos owners have a right to a share of 5% of the revenue of eDemocracy DAO. Because the first Class of Klismos will consist of 25,000 Klismos, that means each Klismos owner will receive 0.002% of the Coops revenue.
• Voting: Klismos owners have the right to elect up to 20% of the eDemocracy Board. Unlike the Member vote, which is one-human-one-vote, Klismos holders get to vote as many Klismos as they hold.
• Assets: Klismos holders have the right the assets of eDemocracy DAO if the organization is dissolved
• Veto: Klismos owners have the right to veto any changes to their economic rights

Klismos Trading

Any Member can sell their Klismos to another Member simply by selling them their Klismos NFT. All Members are on a Whitelist; Klismos can only be transferred among Members on the Whitelist. There is a 2% transaction fee on all Klismos transfers; 1.5% goes to eDemocracy DAO and 0.5% goes to the arties.

We are building an internal market where Members can view, buy, sell and trade Klismos.

Klismos Art Direction