Draft of the OVN Custodian Agreement

From Value Network
Jump to: navigation, search


The Custodian agreement defines the Guarantee Society - a collective agreement between members jointly in respect of the creation and exchange of value and the sharing of risk.


As a collective, OVN members govern themselves and each retains equal rights and mutual responsibilities.
The rights and responsibilities of the Executive are as follows:
{here go the rights and responsibilities of the Executive - which is governing on behalf of the Members collectively, executing for the Custodian class of member}

The scope of decision making capability the Executive is capable of is as follows:

{this will tie in with the scope of the group decision making process. this limits the scope of the decisions the executive can make}
To execute these rights and responsibilities, the Executive is comprised of functionary positions. Functionary positions are voluntary roles taken on by willing members and intended to change regularly. No person may hold more than one position simultaneously, unless permitted by the OVN. Some positions and respective duties are listed below.
Facilitate meetings by maintaining the agenda and ensuring topics are dealt with.
Can be replaced at any time by some other member through friendly resignation or a simple majority vote. This is a non-confrontational aspect of the role to help facilitation proceed as fluidly as possible.
Takes notes during meetings, collaborates with others to include their notes in final meeting minutes.
Posts notes publicly after each meeting
Can be replaced at any time by some other member through friendly resignation or a simple majority vote. This is a non-confrontational aspect of the role to help note-taking proceed as fluidly as possible.
Presents the budget during meetings, as articulated in the budget process below.
Coordinates with Scribe to ensure budget-related information is accurate with respect to the budget process below.
Can be replaced at any time by some other member through friendly resignation or a simple majority vote. This is a non-confrontational aspect of the role to help budget-reporting proceed as fluidly as possible.
Regular meetings of the Executive must happen ________ (frequency) in an open format that is archived for members of the OVN.
These meetings should
Other meet
This should define a set (or sets) of regular meeting schedule that are archived where we:
  • Set an agenda and intention these meetings in advance w/ some sort of stacking.
  • define a process where there is a check-in done regarding the custodianship of the value network.
  • Level of inertia (flexibility of meeting structure)
Decision Making Process / Dynamic Governance
  • Scope of Group Decisions relating to the OVN agreement itself and changes
  • Different methods to allow for and allocate different types of decision making process or different agents.

{consider a 'governance equation' similar but not necessarily identical to the value equation - decision making *authority can be a distribution type with its own VE flow from a subset of dimensions of value to a specific dimension of reward / distro type}

Coordination/Informing Process
  • when and how people should be informed, what needs to be informed of.
  • what platform(s) are used to distribute information.
  • techniques of information distribution


OVNs employs a transparent, and collaborative accounting process that attempts to reflect the shared values of all members as articulated by the group's purpose. The accounts are located (insert link here).
Value Contributions
A logging/categorization/evaluation of the types of value flows through the value network is necessary. Process around this can be defined more specifically to an OVN's context.
Value Equation
The value equation can be defined as both a evaluation of value contributions, and a mathematical formula used to weigh categories of value contributions. These weighted categories (OVN value taxonomy) are outlined in the value flow registry/DB. Conversation should be had at the onset to develop the ontology of types of value contributions and distributions. Methods, and interface and construction of value equations will be made available in the form of a guide to developing value equations possible by all members of the OVN.
Value Distribution
An evaluation and logging of the types of reward people are looking for within the value network. Once the value equation is agreed upon, unitisation occurs and value is distributed to the participants in the OVN or invested in activities of the OVN.


This section defines the registries, the locations and technical details of those registries (i.e. what technological solution/platform is being used for them, what their structure is).
Member Registry
A list of past and active members of the OVN.
Value Flow Registry
OVNI Value Accounting System (VAS)
As new contributions are logged in the VAS they're accessible and stored here.
Any proposed changes to the architecture of the value flow registry will be discussed upon and go through the consensus process agreed upon in the general meetings. {need to clarify whether the changes will be permitted to be retroactive}
Value Flow and Recognition Framework/Ontology must be defined and agreed upon within the VAS.
Unit Title Registry
Unit Creation - Unit Exchange - Unit Return.
this is where we outline the creation and use of local and global currencies, and credit
We also might want to look at how Ripple is doing its trust network credit routing.
OVN Members may agree to create, issue and exchange credits based upon their capacity to provide goods and services or the use value of productive assets held by Custodians or both. :The creation of credits is based on a dynamic and adaptive value standard - the contextually sensitive standard economic unit of account of the OVN.
The creation of credits is based on a dynamic and adaptive value standard (DAVS) - the contextually sensitive standard economic unit of account of the OVN. :The process of credit creation, issue and exchange shall be supervised by the Manager in accordance with the Custodian Agreement.
The DAVS of the OVN is comprised of the collective set (power set) of categories + weights of value flows and combinations thereof that are outlined in the Value Flow Registry.
The DAVS can be parsed out to units or classes of stock or currencies. Members can use these currencies to exchange between each other or utilize. Members have rights of use to these currencies which are held in the Flows Title Registry.
Flows Title Registry (fluid equity)
in percents. Rights to use of flows. tied into the value accounting system.
Enterprise Registry
OVN Members may enter into associative Sub-Agreements, mutual guarantees and commitments with each other collectively both within each Class of Member and between Classes of Member.
Maintained by the custodians - also an addendum to contracts made between classes of members, referencing the Nondominium and Custodian agreements.
A Registry of credit entitlements, Sub- Agreements, mutual guarantees and any other commitments shall be maintained by the Manager.
Neither the Custodian Agreement nor any Sub-Agreement, mutual guarantee or other commitment pursuant to the Custodian Agreement shall constitute a partnership.


Value Equation Construction
Members through collaborative process define their own contextual value taxonomy, or adopt/adapt an existing one for use. A value taxonomy can also grow through use and curation.
All members have the right to construct their own value equation, and weight contributions. Each constructed value equation will be saved. Individual members can construct and submit more than one value equation.
Value Equation Evaluation
As a group, we will evaluate the different value equations and agree by consensus on what adjustments should be made to the weighting of the equation. Once a value equation has been agreed upon by consensus, unitisation may commence.
Value Unitisation
After the value equation has been agreed upon, it is translated into units, accounts of which are kept the Unit Title Registry. This is accompanied by the corresponding flow titles. For more info on Value Unitisation, see DAVS.
Value Distribution
Should a member elect not to receive their value distribution in units, they are able to assign these units back into the open capital asset pool. These investments of units into the open capital asset pool are then accounted for in the Value Flow Registry.
The distribution of units will be tracked within the Value Flow Registry.
Value Exchange

Members can exchange between themselves within the OVN using agreed-upon currencies or units based off the DAVS. Analogous to the Unit Title Registry.

Value Equation Disputes
In the case of consensus unable to be reached, value equations will be averaged and value distribution will respected accordingly.


The resolution of disputes and disagreements within the OVN is encouraged through informal process and the spirit of a collaborative environment.
Disputes arising out of Enterprise Agreements shall be resolved in the first instance in accordance with provisions set out in those Agreements.
In the absence of such provisions, the Executive shall act to resolve disputes or delegate to Managers the provision of dispute resolution services. Conflict resolution can be attempted through the facilitation of a consenting, neutral, mutually agreed-upon third-party.
There is a process, however, by which issues that are not resolved informally and that arise within the scope of this agreement, should be considered.
Conflict resolution is first attempted through the facilitation of a group decision making software, in the initial term, driven by Loomio.com.
The issue is added to the official list of conflicts to be added to the agenda of the next official meeting, save any issues with significant privacy concerns.
At the beginning of each meeting's agenda item on Enforcement and Conflict Resolution, all unresolved issues on the agenda will be categorized into one of several types. They will be categorized using consensus and reflecting OVN's values laid out in the Nondominium Agreement. An example of these categories are (in order of decreasing severity):
Membership exclusion.
Decision Procedure: 2/3 vote
Safe space.
Decision Procedure: 2/3 vote
Purely fiscal.
Decision Procedure: 1/2 vote
Decision Procedure: Consensus
Positive feedback.
Decision Procedure: Auto-approval
  • Abuse
  • Exclusion Mechanisms
relates to Member Registry
The opportunity to represent their perspective is granted to each relevant person, and general discussion may be held about the issue.
If the issue remains unresolved, conflict resolution is then attempted through the facilitation of a consenting, neutral, mutually agreed-upon third-party (potentially software driven).
A decision is made by to resolve the issue as best as possible, according to the values constituting the Aims and Objects laid out in the Nondominium Agreement.


This Custodian Agreement is valid within the scope of
  • Time
  • Renegotiation of the current precepts/infrastructure.
  • certain aspects can expire.
  • Jurisdiction
  • Domain
  • Context
  • Debriefing/Analysis of the OVN infrastructure


  • Liability of Open Value Network
  • Liability/accoutability of Custodian
  • the OVN has to be able to hold the Custodian accountable to the agreements.
  • Responsibilities and process around Custodian and how they hold/distribute the assets
  • Ability of OVN to change Custodian agreement (process)