HOW WILL IT
These community banks will serve as centers for sustainable economic growth by focusing on lending to local small & medium sized enterprises in an ethical manner. Each community bank will be owned 75% by Valhalla Network and the remaining 25% split between a charity foundation and bank staff incentives. This means each bank will allocate a significant portion of their dividends to a charity that reinvests into local, social, and community initiatives as per the DAO’s ESG (environmental, social, and governance) policy.
TO MEET THESE AIMS
WILL EXECUTE TWO PHASES...
The establishment of a specialised for-profit bank. The bank can combine higher returns with a buffered financial model, contrary to traditional banking models.
The fundamental aim of Phase 1 is to act as a base to support the DAO in its early life and help propel Valhalla Network into Phase 2, the establishment of community banks.
We forecast the bank to begin operations 3-6 months after the token generation event (“TGE”).
Setup and launch of the for-profit bank will take approximately 18-24 months from date of private sale; this includes setting up the Foundation and banking entity, executing the technical solution, and the application and authorisation of a banking licence.
We forecast Phase 2 to begin TGE+1, after the Phase 1 bank is fully operational. Valhalla Network will build a network of community banks across the world, starting in Europe and targeting specific countries and communities with the most need.
The community banks will revitalize the local economy by acting as a center of sustainable growth. A portion of all profits will go towards a charity foundation which will fund & support local community initiatives, and engage with local schools to provide financial education to teens and young adults.
While the community banks are set-up and become profitable, the Phase 1 bank will provide increasing cash flows to support the DAO and token holders. Eventually, there will be a consistent flow of new community banks
‘becoming profitable’ and the system will be entirely self-sustaining.