Cask Aging, DAO Voting & Cask Sales, and Self-Bottling

Cask Aging

During the holding period the whiskey casks will continue to age, untouched and unsold, in the bonded and insured warehouses to meet the minimum of three years per Irish and Scottish aging requirements.

DAO Voting & Cask Sales

After completion of the third year of aging, a Whiskees NFTs community DAO voting mechanism will be setup for the NFT owners (NFT owners at that point in time) to determine if ⅓ of the whiskey casks will be sold at auction by a verified and registered third party. If the majority of the vote determines they wish to sell the casks at that time ALL USD proceeds from the final sale will be returned to owners and converted to ADA and sent to the NFT owners Cardano address or staking address (minus any commission fees by the third party seller and Cardano network fees).

The amount of ADA returned to NFT owners from the cask sales will be based on that NFT’s value as an overall % of the original mint sale price per the table above. The more NFT’s owned (taking into account rarity value) the higher % ownership in casks and higher proceeds in ADA received from cask sales. Secondary market Whiskees NFT’s prices at the time of potential cask sales will not be used for this ownership portion calculation, only the original mint values in the table found on the website.

If the majority vote determines that NFT owners would instead wish to continue aging the casks then the casks will continue to remain in the warehouse for another year where again a vote will occur to determine if they will be sold or held. This process repeats yearly until the majority vote is to sell this ⅓ portion of the casks.

This process described above is repeated for the next ⅓ of the casks at 5 years of aging, and then again for the remaining ⅓ of the casks at 10 years of aging until all casks are sold for maximum investment return. The exact voting mechanism and mechanics are yet to be determined and will be released at a later date by the team but will occur directly on the Cardano blockchain by connecting a compatible wallet.

Self-Bottling

In addition to the selling mechanism described above, options are also being explored to self-bottle and find a way to provide value to NFT owners through this mechanism instead of selling the casks if desired by Whiskees NFT’s through a DAO vote.