🏛️ PROPERTY GOVERNANCE AT SECONDARYDAO
Each tokenized property on SecondaryDAO is governed by its token holders. Holders vote on the decisions this page describes, and every proposal, vote and result is recorded on-chain.
All property smart contracts are deployed on Arbitrum One and can be verified on Arbiscan. Contract addresses are linked on each property's page at explorer.secondarydao.com.
🗳️ WHO CAN VOTE?
To vote on a proposal, you must:
✅ Hold property tokens • Own at least 1 token of the property at the moment the proposal was created
🆔 Be KYC verified • Complete identity verification on the platform
🔐 Be whitelisted • Vote from your verified, whitelisted wallet
⚖️ VOTING POWER
• Voting is token-weighted: 1 token = 1 vote • Your voting power is your token balance at the snapshot taken when the proposal is created • Tokens bought after a proposal opens don't add voting power to that proposal • Each wallet votes once per proposal: YES or NO, final once submitted
📌 WHAT REQUIRES A VOTE?
🔧 PROPERTY EXPENSES
The Property Manager (PM) submits requisitions for expenses above the property's voting threshold. Requirements depend on the type:
🚨 A) Emergency (flagged urgent by the PM, any amount) • ⏱️ Voting period: 3 days • 👥 Minimum participation: 5% of tokens
🧹 B) Small: under $5,000 • ⏱️ Voting period: 7 days • 👥 Minimum participation: 5% of tokens
🛠️ C) Maintenance: $5,000 to under $10,000 • ⏱️ Voting period: 7 days • 👥 Minimum participation: 10% of tokens
🏗️ D) Major change: $10,000 and up • ⏱️ Voting period: 14 days • 👥 Minimum participation: 25% of tokens
ℹ️ Minimum participation is a percentage of all of the property's tokens (at the snapshot), not a percentage of holders.
✔️ An expense proposal passes only when all three are true: minimum participation is met, more than 50% of the tokens that voted are YES, and enough different wallets voted YES (the distinct YES-voter floor, below).
🧑🤝🧑 THE DISTINCT YES-VOTER FLOOR
Token-weighted participation on its own lets a few large holders carry a proposal between them. So a proposal also needs a minimum number of different wallets voting YES.
• The floor is min(10, 10% of eligible holders, rounded up) — always the smaller of the two, so it never becomes unreachable • 6 holders → 1 · 10 → 1 · 11 → 2 · 60 → 6 · 100 → 10 · 400 → 10 • "Eligible holders" is the property's holder count at the moment the proposal is created, minus SecondaryDAO's own contracts that hold tokens (the sale escrow, its trading contract, the buyout registry, the reserve fund manager, the deposit manager, the distribution manager, the compliance escrow and the treasury), each counted once • 🔒 The number is fixed when the proposal is created. Holders joining or leaving afterwards don't move it • ✅ Only distinct YES voters count — NO votes don't count toward the floor • 🚫 If a property has no eligible holders at all, no proposal can be created • ℹ️ The holder count isn't filtered by KYC status, so a holder whose KYC has lapsed is still counted even though they can't vote. That makes the floor slightly stricter than intended, never looser
🪙 THE BUYOUT PREMIUM IS NOT A VOTE
The buyout premium is a fee the buyer pays to SecondaryDAO on top of the offer price. It is not paid to token holders and does not change the price per token holders receive.
• Range: 5% – 50% • 🙋 It is set by the SecondaryDAO administrator, not by a token holder vote • ⏱️ A change is announced in advance and takes effect only after a 30-day notice period • 🔒 The rate in force when a buyout offer is created is locked for that offer
🤝 WHAT ABOUT BUYOUTS THEMSELVES?
Whether a property is bought out is not a governance vote. It is decided by holders selling into the buyout offer:
• If holders of 51% of the tokens the buyer does not already own sell before the deadline, the remaining holders are bought out at the same price • Selling into an offer is final. If 51% is not reached, the offer expires, the buyer keeps the tokens already sold, and other holders keep theirs
See the Token Holder Buyout Guide for details.
❌ WHAT DOESN'T REQUIRE A VOTE?
Handled automatically or by the Property Manager:
• 🧹 Routine maintenance below the property's voting threshold • 💵 Monthly rent collection and distributions • 📋 Standard property management tasks • 🏦 Insurance and property tax payments • 🔑 Security deposit management
🧾 REQUISITION PROCESS (EXPENSES)
- 🧑💼 PM submits a request
- 📎 PM uploads at least 2 contractor quotes
- 🔍 SecondaryDAO reviews the requisition
- 🗳️ Above threshold → proposal created and holders notified ✅ Below threshold → handled directly
- 👥 Token holders vote (if required)
- 💰 If approved → funds released from reserves
📊 VIEWING GOVERNANCE ACTIVITY
🖥️ Dashboard • Log in to your SecondaryDAO dashboard • Open your property holdings, then the Governance tab, to see active proposals, past results and your voting history
🌐 Explorer • explorer.secondarydao.com shows governance activity across all properties
🔗 On-chain • Proposals, individual votes (YES/NO, token weight and wallet address), final tallies and fund releases are all verifiable on Arbiscan
❓ FAQ
Q: What if minimum participation isn't met? A: The proposal fails. No funds are released.
Q: Do more tokens mean more voting power? A: Yes. 1 token = 1 vote, based on your balance when the proposal was created.
Q: Can I delegate my vote? A: No. Vote directly from your verified wallet.
Q: What happens if I sell my tokens after a proposal opens? A: Your voting power for that proposal stays as it was at the snapshot.
Q: How do I know when there's a new proposal? A: You'll receive an email notification.
Q: Can proposals be cancelled? A: Only by the SecondaryDAO administrator.
📬 CONTACT
Questions about governance? 📧 support@secondarydao.com
Last updated: September 17, 2026