Participants

1. Real-world asset owners

Real-world asset owners provide rights, namely ownership, to real-world assets forming the basis for RWA. Through the approval process of governance, they can issue RWA based on owned real-world assets, thereby extending real-world ownership to the blockchain. Representative real-world assets in ELYSIA include real estate, bonds(real estate collateralized bonds, accounts receivable bonds, government bonds), and more.

2. Offline DAO (ELYSIA DAO LLC)

Offline DAO serves as the legal entity of ELYSIA online DAO and acts as a bridge connecting the blockchain-based community with the real world.

Among Elysia's offline DAOs, "ELYSIA DAO LLC" is registered as a DAO (Decentralized Autonomous Organization) entity in the state of Wyoming, USA, holding an equivalent legal status to an LLC. ELYSIA DAO LLC is primarily comprised of key stakeholders (sEL holders), executives (Members), and a representative (Chair).

In Elysia, through the offline DAO, owners of real-world assets enter into contracts for the transfer of ownership. At this juncture, the offline DAO legally becomes the entity holding ownership. Through the offline DAO, the transfer of cash and virtual assets becomes more convenient. These contracts utilize a secure system where conditions, pre-programmed based on smart contracts, are automatically executed once satisfied.

3. Online DAO

An online DAO is an organization where internal decision-making and operations occur autonomously online. To become a member of Online DAO, one must be an sEL holder. SEL holders assess and approve RWA issuances applied for by real-world asset owners. Additionally, they play a role in proposing various policies related to ELYSIA and conducting upvotes/downvotes, contributing to the expansion of the ELYSIA ecosystem.

4. Developer groups

Developer groups contribute diverse opinions and provide technical support for the advancement of the ELYSIA protocol. Anyone globally can participate as a developer, receiving compensation for opinions and technical contributions. Furthermore, developers can contribute to the ecosystem's development by creating various dApps utilizing RWA issued by the ELYSIA protocol.

5. Key external participants

Key external participants engage in essential aspects of the ELYSIA protocol (issuance, distribution, liquidation, oracle), playing a role in securing the ecosystem and maintaining the system. As the variety of real-world assets handled by the ELYSIA protocol expands, related external participants will also grow.

1. Blockchain Oracle: Blockchain oracles serve as a bridge between the blockchain and the real world, providing access to real-world data for smart contracts. In the ELYSIA protocol, blockchain oracles supply real-world asset prices to the protocol, guiding the issuance, distribution, and liquidation procedures of RWAs.

2. Bond Purchasers: Entities that purchase RWAs based on defaulted bonds. Bond purchasers acquire defaulted RWA at a price lower than its market value during liquidation and resell it in the market, generating profits.

3. Law Firms, Accounting/Tax Firms, and Appraisal Firms: Offer legal procedure reviews, consulting services, and related documents necessary during the RWA issuance process.