The simple answer is no. The Freedom Nation is not a bank, nor are we registered as a bank or provide deposits. or traditional loan or financial products. All the freedom nations lending is done for in house developed products for which we provide our members a credit line. Although many of our products might serve the same purpose of traditional banking products, it is clear to note that they do not constitute a banking product.

Citizenship into the freedom nation is mandatory in order to purchase credits or any other assets directly from the treasury. The reason for this is because this is a real community. We value connections and we highly value transparency and self-governance. The Freedom Nation DAO Treasury is an essential element in the freedom nation infrastructure. Being able to make decisions as to the progress of our organization is a critical function that cannot be handed over to anyone who is not a citizen of the organization. 

With that in mind it should be clear as to why you must be a citizen in order to purchase the freedom credit from the treasury. Although we do not inhibit anyone from purchasing credit and selling it to someone outside of the treasury. However, within the freedom nation the greatest form of credit is your reputation. A citizen’s reputation is the single most significant factor utilized to determine creditworthiness, inclusion and opportunities and the willingness of other citizens to engage with that individual.

Although it is not against the rules to sell freedom credit to non-citizens, a citizen would expect that it would do damage to his credibility. That citizen would need to calculate the impact on that alongside his plans for being in the Freedom Nation.

No buying the freedom credit does not make you a shareholder inside of the freedom nation DAO treasury. Instead, the treasury is an LLC whose operating agreement binds the chairman of the LLC to make decisions in alignment with the voting system from the treasury. When you purchase your credit from the Treasury your transaction with the treasury is complete. In addition, the credit allows you to take advantage of weighted voting on the treasuries snapshot voting system.

This system stays within the defined laws of a limited liability company that only allow for 100 or less members to be part of the voting organization. However, by ensuring that the operating agreement binds the chairman so the decisions of the voting system the individuals inside the snapshot voting system do not become members of the company and are not liable for its decisions or actions.

Freedom credit can be purchased in two ways. The first way is from the treasury using your freedom citizen portal. Within the portal you may purchase any amount of FCR that is on sale. The freedom credit portal will allow you to pay for your purchase with Fiat based currency as well as popular cryptocurrencies such as usdc Bitcoin and ethereum. 

The second method, that is not monitored or conducted by the treasury, is to make an individual deal with a credit holder and purchase it directly from them. Although the treasury does not monitor nor take any responsibility or liability in peer-to-peer exchanges of the credit a space with inside of the freedom citizen portal is provided for citizens to place listings of credit sales.

All peer-to-peer credit sales are independent transactions between the two peers and not between the treasury.

The freedom credit is an accepted form of payment for anything that is build or for sale inside of the freedom nation citizen portal.

Anyone owning FCR may use the snapshot voting system in order to propose and vote on any topic of their choice to in a weighted voting system based on the amount of FCR that you hold in your linked crypto wallet. Both proposing and voting as well as the topics for which are proposed and voted on, are done so at the sole discretion of the FCCR holder.

Within the freedom nation citizen portal there is a form open to all citizens for proposing and presenting proposals that can be proposed by an FCR holder on the Snapchat voting platform.

The chairman of the freedom nation da O treasury is mandated by the operating agreement of the treasury to execute all decisions made inside of the Snapchat voting system. The treasury has no administrative functions, nor will it ever create them. Instead the treasury uses the same management structure as the freedom nation. Genius Co support services LLC maintains a professional management staff and it’s charge contractually to execute all decisions made by the treasuries voting system and executed by its chairman. At the time of execution and at the time of initial purchase of the FCR a fee is charged to the Treasury by the management firm for executing the decisions and managing the process.

The treasury maintains and off chain copy of the FCR transaction log. This off chain copy of the log will be used at any time to maintain the exchanges and current ownership of FCR. If the Binance chain happens to fail for any reason and cannot or will not be reinstated, then the treasury we’ll make an independent decision to issue the FCR on another blockchain or on a centralized system. The new FCR will be distributed to all owners in the exact quantities as are documented in the transaction log.