Users

How to Invest in Ventures and contribute to ukiyo?

Users can register an account subject to KYC/AML/CTF and an internal questionnaire being approved. Users can then interact with services and products they are eligible for.

Wherever a user is located in the world, under the eligibility criteria they will have the opportunity to contribute whitelisted tokens (e.g. USDT, ETH) to projects within the Ventures ecosystem by connecting their MetaMask/Wallet Connect and depositing "x" number of assets/tokens. User wallets connected to the protocol are non-custodial so members retain ownership of all their assets until these are pledged to projects.

Each financing round will initially be denominated in USDT or ETH via a real time oracle feed from Chainlink.

Are Ventures Investments considered securities?

An investment in Ventures has the potential to be classified as a security. Users can participate in seed funding rounds, depending on the projects they choose to allocate their assets to.

After deploying their assets, users are subscribed to an agreement through the OpenLaw protocol, which interacts with ukiyo's Sakura smart contract. Each user is grouped together into a single legal unit that is fully subscribed to a specified number of shares/equity, depending on the equity deals available. This design ensures that both users and projects comply with regulations set by global regulatory authorities.

Ventures account Registration Requirements

To participate in Ventures, members must pass accredited investor, anti-money laundering (AML), Know Your Customer (KYC), and Office of Foreign Assets Control (OFAC) checks, as defined by international law. User funds are carefully monitored to detect any illicit activity. This is achieved through a combination of KYC/AML/CFT checks, as well as frequent monitoring of user wallets and activity using the Elliptic Lens service. Both of these web3 tools are used to comply with global regulatory guidelines.

To verify their identity, users must submit sufficient information, including:

• A passport or state-issued license (uploaded)

• A social security number or Tax ID

• Proof of the user's primary residence

• questionnaire regarding trading and investment experience

• accetpance of own liability with regards to high risk investments

Legal Entity Restrictions:

At present, any type of funds or trusts are not permitted to participate in Ventures.

I pledged/deployed "x" number of assets, I've changed my mind

Users have complete control over their assets and may choose to withdraw their pledged tokens during the funding stage of a project. However, once funding has been completed and the user is subscribed to a project, they will have the option to request Ventures to carry out a Net Asset Value Redemption on their behalf. This involves exchanging their shares for their initial investment, but it's important to note that legal fees may apply.