HOW WILL IT
WORK?
It is our intention that these community banks will serve as centres 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 social impact entity and staff incentives. This means each bank can allocate a significant portion of their dividends to the social impact entity that reinvests into local, social, and community initiatives as per the DAO’s ESG (environmental, social, and governance) policy.
TO MEET THESE AIMS
VALHALLA NETWORK
WILL EXECUTE TWO PHASES...
PHASE ONE
The aim of Phase 1 is to act as a base to support the Foundation in its early life and help propel Valhalla Network into Phase 2, the establishment of community banks.
We envisage completion of Phase 1 could happen in 2025; this would include setting up the Foundation, building the Web3 architecture, and establishing all necessary subsidiary entities.
PHASE TWO
We forecast Phase 2 to begin within one year of completing Phase 1. Valhalla Network will strive to 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 can revitalise the local economy by acting as centres of sustainable growth. The aim is for a portion of profits to fund & support local community initiatives, and the community banks to engage with local schools to provide financial education to teens and young adults.
We envisage that while the community banks are set-up and become profitable, Phase 1 will provide increasing cash flows to support the Foundation and token holders. Eventually, there will be a consistent flow of new community banks ‘becoming profitable’ and the system will become entirely self-sustaining.