Emergent Order Ltd Token Offering

Last Updated: April 29, 2021

General Information


Emergent Order Ltd (EO) has been created for the express purpose of managing donations for the acquisition of, and improvements to, real estate for the exclusive benefit of the Fraternal Order of Porcupines (FOP). All donations to EO will go directly to the acquisition of real estate, improvements of purchased real estate, and operational costs associated with purchased real estate (e.g. property taxes, utility payments, maintenance/repair, business expenses, and other costs associated with the acquisition and management of real estate.) No Board Member or employee of Emergent Order Ltd will receive any form of compensation derived from donations not earmarked for such purpose.

Emergent Order Ltd will be issuing a fixed number of SLP tokens called “QUILL” using Bitcoin Cash (BCH) as the blockchain platform. The purpose of the QUILL token is as a tracking mechanism for EO to determine when the assets of EO will be donated to the FOP. They are not speculative instruments and there is no expectation of their rising in value. For every $1000 donated to EO, the donor will have the option of receiving one QUILL token. Accepting the transfer of one or more QUILL tokens will imply your acceptance of the “Emergent Order Ltd Token Policies”, the “Emergent Order Ltd Token Holder Usage Agreement”, and the “Emergent Order Ltd Auction Policies”. The initial version of these policies are found in this document. These policies are subject to change at any time by the Board of Emergent Order Ltd solely. The current authoritative policy can be viewed at any time at https://emergentorder.io/EO_policies.html.

The purpose of the QUILL token is to provide donors with an opportunity to recover their donation. At least quarterly, EO will execute a token buy back auction, the total amount to be determined by the EO Board. Additional auctions may be authorized by the EO Board. For all auctions, the method used will be a reverse auction, that is the lowest bidder(s) will win the auction. Auctions will be announced on the EO website (https://emergentorder.io) and all QUILL token holders have the opportunity to participate. Please see “Emergent Order Ltd Auction Policies” for more detail.

Operations


EO will be the legal entity which purchases the real estate. FOP will pay rent to EO for the use of that real estate until such time that the FOP either purchases the assets of EO at fair market price or returns all (or a sufficient number of, as determined by the EO Board) QUILL tokens to EO. At that point, ownership of purchased real estate by EO will be donated to the FOP. Until that transfer, EO will manage the building. Rents collected will be used for taxes, maintenance, necessary improvements, or other common operational costs. Excess capital, minus a three month operating budget will be used for token buy back auctions. Once the real estate transfer is completed, the Board of EO will decide whether EO will dissolve or if it will issue a new token to support the acquisition of additional real estate for the benefit of the FOP.

At the discretion of the EO board, the FOP may at times be offered the opportunity to pay its rent to EO using QUILL tokens.

Emergent Order Ltd Token Policies


This policy defines the policies that Emergent Order Ltd will apply to itself.
  1. Emergent Order will create 600 QUILL tokens prior to distribution. This is the maximum number of QUILL tokens that will ever be created.
  2. Emergent Order Ltd will offer to donors the option of receiving one QUILL token for each $1000 donated.
  3. Any token(s) offered to Donors who opt to NOT accept the QUILL token offering will be held by EO permanently.
  4. Emergent Order Ltd will distribute whole tokens only. Any donation received which is not divisible by 1000 resulting in a whole number will be rounded down for purposes of token offering. For example, if a $3700 donation is received, that donor will be offered 3 QUILL tokens.
  5. Any tokens lost, stolen, or otherwise irrecoverable will be considered having been LOST and become the property of EO.
  6. QUILL tokens will be subdividable for the convenience of its holders. However, Emergent Order Ltd will only distribute or accept in return whole tokens.


Emergent Order Ltd Token Holder Usage Agreement


This policy defines the Token Holder rights and responsibilities.
  1. Tokens will be offered and issued to the original donor only. From EO’s perspective, they are the original Token Holder.
  2. The original Token Holder is responsible for the return of the token upon demand.
  3. If a Token Holder chooses to give, sell, or otherwise relinquish their control of any QUILL tokens they may hold, they may do so. However, Emergent Order Ltd has no duty or capability to track QUILL token transfers. Upon return of any token to EO, any compensation, if applicable, will be sent to the sender of the token(s) to EO.
  4. Token Holders are responsible for the safekeeping of any tokens issued to them. Token Holders shall maintain appropriate backups of their SLP wallets, including public and private keys, recovery phrases (or other recovery mechanisms,) passwords, and any other devices or information required to maintain access to the QUILL tokens issued to them.
  5. Emergent Order Ltd holds no liability in the event that any token becomes lost, stolen, or otherwise irrecoverable by the Token Holder after its distribution to the original Token Holder.
  6. Token Holders shall inform Emergent Order Ltd within seven (7) days of any irretrievable loss of access to a Holder’s issued QUILL token(s).
  7. Holders of issued QUILL tokens have no claim to any ownership or authority related to the management of, operations of, or hold any interest in Emergent Order Ltd.
  8. QUILL tokens may be recalled at any time, the holder being obligated to return their token to Emergent Order Ltd upon demand in return within 14 days for which EO will compensate the holder a maximum of $1100 per whole token returned.
    • EO will only accept whole tokens, not fractional tokens. Fractional returns will be offered no compensation.
    • If not agreed upon otherwise, EO will, at its discretion, deposit $1100 worth of Bitcoin Cash into the sender’s wallet or issue a check to the sender with a 90 day expiration. and mailed to the sender’s address on file.
      • If the check is not cashed within 90 days, it will be considered void and no further compensation will be offered. The associated tokens will be marked as LOST and considered property of EO.
      • If EO does not have an address on file for the sender, it will request the sender’s mailing address. If no address is provided to EO within 90 days from that request, the associated tokens will be marked as LOST and considered property of EO.


Emergent Order Ltd Auction Policies


This policy defines the Emergent Order auction policies.
  1. The Fraternal Order of Porcupines is barred from participating in EO QUILL token auctions in any capacity.
  2. Emergent Order Ltd will, at least once per quarter, conduct a Token Buy Back Auction (TBBA) using a reverse auction methodology - the lowest bid(s) win.
  3. The EO Board may authorize additional TBBAs at any time.
  4. The Board of Emergent Order will determine for each TBBA the amount of dollars or the number of tokens it will offer to buy, at its sole discretion.
  5. The auction period will last for 14 days.
  6. Bids for the current TBBA can placed on the Emergent Order Ltd website, https://emergentorder.io/auction
  7. All valid TBBA Bids must contain the following:
    • The name of the bidder.
    • The email address of the bidder.
    • The bid amount being offered per token, with a maximum of $1100.
    • The number of tokens being offered.
    • Compensation type (BCH or check.)
    • The appropriate Bitcoin Cash (BCH) address or mailing address of the bidder which will be used to send compensation if the bid is determined to be accepted.
  8. All TBBA bids will be sealed and not accessible to anyone other than EO.
  9. All invalid or incomplete bids will be discarded.
  10. Upon the ending of a TBBA, bid acceptance notifications will be sent to the bidder’s provided email address as well as the number of tokens being accepted. This may differ from the bid amount in the case that the compensation would exceed the authorized amounts for that TBBA.
  11. The bidders of any accepted bid have seven (7) days from the bid acceptance notification to send their tokens to EO at the address provided in the bid acceptance notification.
  12. Upon receipt of a bidder’s token’s, EO will have seven (7) days to issue the appropriate compensation as derived from the bid, if any (the bid per token multiplied by the number of tokens being accepted.)
  13. If there are no bids in a particular TBBA, EO will issue a recall of tokens equivalent to the number or amount authorized by the EO Board. The tokens subject to recall will be at the discretion of the EO Board.