The REVAB

One of the mechanisms for enabling community engagement on an operational level by the Prestio community is through advisory boards. These advisory boards are specialized teams of individuals nominated and elected by Presta token holders. Each advisory board will have a principal area of responsibility and will be rewarded for their participation.

The first task force proposed is a Real-Estate Vetting Advisory Board (REVAB). The primary objective of the REVAB is vetting real-estate assets according to the predetermined asset warehousing and asset appraisal methodology and processes outlined, ensuring that the valuation built around real-estate assets, title insurance, loan conditions, interest reserves, and liability assessments are all in line with predefined norms, standards, and smart contract structures.

To formulate an initial REVAB, the Prestio developer team will make a proposal for a preliminary REVAB structure and tenure to define the number of REVAB members and the duration of their service. We believe an initial tenure duration of 12 months will allow the community enough time to nominate subsequent candidates for a follow-on election and provide ample time for engagement by new, incoming members of the Prestio community. After this period, Prestio will execute a weighted vote based on the established Presta governance system. New REVAB members will then be announced, followed by an orientation program between the preliminary REVAB members and their community elected replacements. Nomination and election processes will then be held on an annual basis.

The formation of additional advisory boards will be defined and formulated as Prestio grows and becomes more operationally complex.