FAQs

Community FAQs

Island Development

Why was this specific Island selected for the community's project?

Satoshi Island, locally known as Lataro Island, was chosen for its ideal location in Vanuatu, which offers favorable regulations for blockchain and cryptocurrency projects. The island's size allows for sustainable, eco-friendly development, making it perfect for a decentralized, high-tech community. With the added benefit of Vanuatu citizenship or permanent residency access, the project aligns with the community’s focus on sustainability, innovation, and collaboration. Its legal and financial framework supports long-term growth, while the island’s environment fosters a space for entrepreneurs, digital nomads, and blockchain enthusiasts to thrive.

The founding members dedicated significant time to selecting an island that offers exceptional protection against natural disasters, ultimately choosing this location for several key reasons. The island's elevation ranges from a minimum of 2 meters above sea level to over 100 meters, providing natural resilience against flooding. Additionally, the surrounding ocean is over 1,000 meters deep, minimizing the risk of tsunamis, as they require shallow waters to build destructive force. There are no active volcanoes nearby, although volcanic activity in the region occasionally causes ash clouds that can disrupt flights. Over the past 12 years, there has only been one instance of ash in the air, which resulted in a single flight cancellation. From a weather perspective, the island benefits from a favorable geographical position. Regular and sufficient rainfall ensures an abundant supply of clean drinking water for residents. The team has been based on the island full-time for nearly three years, with one member residing in Santo for over a decade and contributing to the island’s existing infrastructure. Their proactive planning has ensured resilience against extreme weather. The island’s positioning provides excellent shelter from high winds. For example, a hurricane that caused significant damage on the mainland left the island’s structures unscathed. While the region does experience dynamic meteorological conditions, these are effectively managed through strategic preparation. Additionally, the island is conveniently located less than an hour from the nearest international port, with surrounding waters hundreds of meters deep, enabling easy access for large cruise ships.

Where are the original founders?

The private investors of the Satoshi Island project, much like Satoshi Nakamoto who entrusted Bitcoin to the public, handed over the completion of the island to the Satoshi Island community. They believed that empowering the community from the start was essential. This decision was made to encourage a truly decentralized environment, fostering creativity and collaboration among community members.
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In 2017, a group of visionary crypto enthusiasts came together with a shared dream: to create a crypto community of their own. As is common in the industry, this group values their privacy and prefers not to have their names publicly associated with the many successful projects they’ve individually or collectively invested in, including Satoshi Island. The project is designed to be for the people, with a democratized approach where each islander has a voice. With this same sense of humility, the investors have made Satoshi Island available to the community. Capital was invested to recruit experts in land acquisition, legal structure, digital framework, architecture, and government approvals. The project was officially introduced to the community in December 2021. On July 21, 2022, a private sale of Land NFT Deeds and STC tokens was held with a launchpad. Shortly after, the project was handed over to the community DAO members. These members volunteered to be part of the DAO, each assigned specific responsibilities. Over the next six months, basic infrastructure and land were prepared for community development, along with digital solutions such as the stake-to-stay program and the island’s marketplace for future asset sales, exclusively using STC tokens. Since then, DAO members and team leaders have come and gone, and the current leadership group can be found here. The vision for Satoshi Island is to establish a blockchain-based, democratic community where all transactions—land, homes, rights, and licenses—are conducted with cryptocurrency and represented via NFTs. Ultimately, the goal is to cultivate a permanent and transient population of like-minded individuals who will live and work together on Satoshi Island, creating the world’s premier crypto hub.

Who is responsible for funding and maintaining the entire Islands infrastructure?

The island is currently equipped with electricity, sewage systems, and water tanks sufficient to support 50-100 permanent residents. As the community grows, the DAO will implement the necessary measures to scale the infrastructure. For instance, Chris Griffin, CEO of Hover Energy, will provide renewable energy solutions to power the entire island! Scaling septic sewage systems and adding additional water tanks is not an expensive process. The DAO has sufficient funding to support these expansions as the island population increases. Furthermore, the DAO will actively explore innovative high-tech eco-solutions for waste collection and disposal, sewage treatment, and other essential infrastructure. These efforts aim to create a cutting-edge, sustainable, and regenerative environment for the community. A monthly utility maintenance fee will be introduced to ensure the infrastructure remains in excellent condition, with all transactions and associated costs transparently recorded on the blockchain to maintain accountability and trust.

Who will construct the satoshi island eco-resort, how large will it be, and when will construction begin?

While both the Satoshi Island marketplace and the stake-to-stay feature are fully developed, enhancing their utility depends on the expansion of our resort, which remains our first and primary goal. The resort's villas are being sourced from Natural House Bali, the same manufacturer supplying homes for the community and responsible for the existing structures on the island. Richard Streitz, a DAO member with extensive experience in large-scale projects, will oversee the resort's and Island's construction, utilizing skilled local carpenters and labourers. The resort will feature ten two-bedroom villas, located on the West Wing between the current structures and the Residential West Coast. The immediate benefits of an operational resort include increased accommodation availability for impactful events, heightened mass awareness of the project through marketing efforts for the eco-resort, and the attraction of initiatives in fields such as renewable energy, waste treatment systems, and nature restoration projects. A construction start date has not yet been set.

Who is funding the Digital Nomad Village? What are the benefits of having one?

Like the eco-resort, the digital nomad village will be funded through private investments. A co-working and co-living space on Satoshi Island offers numerous advantages, including a unique location and a variety of master classes focused on financial, physical, mental, and environmental well-being. It also provides an affordable option for community members who are still considering whether to make Satoshi Island their permanent home, allowing them to stay longer without the expense of a resort stay.

The government of Vanuatu has supported the project. Is it possible to view the local government endorsement?

The government endorsement can be viewed on our Medium account here, highlighting the enthusiasm the Vanuatu government had for this unique community project. Please note that both the Prime Minister and the Minister of Finance have since changed.

Is Satoshi Island a conservation area? Is there a coconut crab population issue?

The entire island, along with a 100-meter offshore zone, is designated as a nature reserve, reflecting our commitment to sustainable and regenerative practices. Unfortunately, some misinformation may exist regarding coconut crabs and our voluntary wildlife conservation efforts. Conservation remains a core value of the Satoshi Island project, and we continue to act in ways that benefit the island's natural ecosystem and the people of Vanuatu. To protect the coconut crab population in Vanuatu, laws regulate their hunting based on size, location, and time of year. When we first arrived on the island, years of unregulated hunting and fishing had nearly eradicated coconut crabs, birds, and fish around the reef. Poaching persisted even after the island was purchased, prompting the establishment of a voluntary wildlife conservation area. This initiative enables legal action against poachers hunting wildlife on the island and its surrounding reef, regardless of size or season. Importantly, the conservation area does not interfere with building or development; it is solely focused on protecting wildlife.In tandem with these efforts, we collaborated with local tribal chiefs to launch educational programs encouraging the community to refrain from hunting coconut crabs until they reach breeding age. This initiative has been notably successful in aiding the recovery of coconut crab populations across the region. Further details on this topic can be found here.

How can sustainable development be ensured?

Sustainable development on Satoshi Island can be achieved by using eco-friendly building materials, renewable energy, and efficient water and waste management systems. Smart technologies will monitor energy and resource use, with blockchain ensuring transparency. Preserving natural landscapes and involving the community in sustainability practices are essential, alongside transparent governance through the Satoshi Island DAO. Moreover, our community will contribute to the local economy by providing year-round jobs, reducing reliance on tourism, which is often seasonal and can be impacted by external events. We are also eager to learn from the indigenous Ni-Vanuatu people and their rich culture, as they have long embraced eco-conscious, regenerative, and sustainable practices in agriculture, medicine, construction, and community living.

Are all pioneers contributing their labor and expertise to the project without receiving any form of compensation?

Yes, pioneers fully understand the community-driven approach and have stepped up, volunteering their time, energy, and expertise without any compensation. However, this may change in the future depending on available resources.

Who are the Pioneers? What are the their responsibilities?

You can find a list of all Satoshi Island Pioneers, including their LinkedIn profiles and areas of responsibility, on our website here. Each pioneer possesses the knowledge and experience necessary to contribute effectively to the project's success, and all are committed to building and living on the island.

DAOs and Company

What is the current corporate structure? What are the roles of Satoshi Island Holdings Ltd, and Satoshi Island DAO LLC, and who are the directors?

Satoshi Island Holdings Limited is a Vanuatu-based company that holds the lease. Satoshi Island DAO LLC is a shareholder of Satoshi Island Holdings Ltd. The interim director of Satoshi Island Holdings Ltd is Denys Troyak, although the previous owners are still listed as directors in the online system due to the slow process of status updates in Vanuatu. All necessary documentation has been filed. As DAOs are not yet legally recognized in Vanuatu, Satoshi Island DAO LLC was established in the Marshall Islands. This entity holds the rights to all digital assets on Satoshi Island, with the initial members volunteering to participate. In the future, a more democratic system will be introduced, where DAO members are elected by the citizens of Satoshi Island. These members will handle dispute resolutions and development requests from the Citizens DAO, which will be formed as the first community members settle on the island. Citizens DAO members will also have the ability to access and vote on how treasury funds are allocated.

How much was raised from Land NFT Deeds and STC token sales? Are these funds still available?

A private sale of Land NFT Deeds and STC tokens was arranged with Tenset, a launchpad company, for a total of $13 million. An additional $500,000 was raised through direct sales of Land NFT Deeds to the community. These funds were used to cover the initial debt to establish Satoshi Island, as well as basic infrastructure and land clearing. Both of these milestones have now been completed, with infrastructure in place to support 50-100 permanent residents. Access to additional resources for large-scale solutions is also available, enabling us to implement more expansive and innovative projects.

What is the net profit generated by the company from the sale of homes? How is it being used?

The net profit from the sales of homes has not been calculated. The initial homes will be offered to the community at cost price. Subsequent releases will include a margin allocated to fund necessary DAO operations and investments in high-tech systems aimed at enhancing the island's community. All information regarding these transactions and developments will be transparently available on the blockchain.

Who is responsible for the leasehold payments?

Satoshi Island DAO LLC is responsible for lease payments. While the current lease is valid until 2086, discussions to renew the lease for an additional 99 years have already taken place, with the landowners pleased to continue the agreement. The details will be finalized as soon as our community grows to a significant number.

Building Homes

Can I start building now? Is the infrastructure ready?

The community is welcome to begin their development now. Electricity, sewage, and water are available for 50-100 permanent residents. After that, the DAO will scale the infrastructure, opening up development opportunities for more members. Development contracts will be established between the purchaser, Satoshi Island DAO LLC, and a Vanuatu-based company, which will be structured once the first development phase begins. This company will manage crypto off-ramps, as the community will have the ability to pay using major cryptocurrencies, stablecoins, and, depending on volatility, even STC. However, staff wages will be paid in Vatu. The company will also ensure adherence to contract timelines and other agreements. Richard Streitz, with his extensive experience in developing large-scale community projects, will lead this department.

Which architectural firm is responsible for the current design of the building?

Currently, architecture is provided by Natural House Bali, which offers prefab solutions tailored to the community’s demand for building styles that blend harmoniously with the island's unique aesthetic. These structures offer several benefits, including resilience against earthquakes and cyclones, having already withstood multiple storms and seismic events. All Natural House Bali prefab buildings are structurally designed, constructed, and certified to the highest standards (AS/NZS 1170.2, Wind Speeds ~270 km/h - Cyclonic). This ensures that all homes on Satoshi Island are eligible for insurance coverage. They also have a minimal development footprint, as Natural House Bali’s construction process does not require the use of urban-style heavy machinery, and the designs are aesthetically pleasing with an island-inspired style.Natural House Bali has a dedicated team of in-house architects and engineers to manage construction activities. The quality of all construction efforts will be overseen by Richard Streitz, who brings vast experience in managing large-scale projects. The decision to move forward without using Cybertecture's modular architecture was driven by logistical and aesthetic challenges. Although James Law and Cybertecture are no longer leading the architectural efforts, they remain available for consultation should the DAO choose to engage their services in the future.

What types of buildings can I buy? How much do the buildings cost? What are the utility costs?

A catalogue of designs is available for you to choose from, which you can download here. Please note that the prices are not provided, as they may change based on market conditions and the specifics of your design, construction estimates range from $900 to $1200 per square meter. An accurate quote will be given once detailed CAD plans are drawn up. The community can also create their own floor plans. Initially, there will be no utility charges, but as the community grows and infrastructure expands, a fair utility maintenance fee will be calculated for all homeowners.

How big is a block of land? What can I build on a block?

Each of the 2,100 blocks on Satoshi Island measures approximately 18x20 meters, totaling 360 square meters. You have the flexibility to build whatever suits your needs, in coordination with the DAO and Natural House Bali. Whether it's a small family or couples home. There is also the option to combine multiple blocks to create a small resort, Airbnb, shared accommodation, or a large family home, the possibilities are endless. This flexibility allows you to shape the space to match your vision.

What are the estimated regular maintenance costs for a home?

The estimated regular maintenance costs for a home on Satoshi Island will depend on several factors, such as how often you want to do landscaping, treat the wood of your home, and other personal preferences. As a general estimate, property maintenance should not exceed a couple of thousand dollars per year.

Given that there are 21,000 Citizenship NFTs, is it likely that the island will have a population of 21,000 residents?

Not all NFT holders are expected to live on the island full-time. Some may prefer to visit occasionally, while others might opt to rent out their properties. Additionally, some holders might own multiple NFTs, giving them the opportunity to build several residences across the island. Families and groups may also share ownership of NFTs, which would result in fewer individual residents. With only 2,100 blocks of land on the island, if every block were developed to accommodate 10 people, it would match the total number of Citizenship NFTs available. However, it's highly unlikely that each block will be developed to house 10 individuals. More realistically, many single blocks will feature homes designed for 2-4 residents, and there will be several instances where multiple blocks are combined into larger plots with a single house. Achieving the full 21,000 citizens all residing on the island is unlikely due to the limited land available. Moreover, the same Citizenship NFT could be utilized as we potentially expand to other locations. As for the island's capacity, it will be determined not only by the available accommodation but also by ongoing studies that will assess the impact of population growth on the island's ecosystem and the surrounding environment. Regular evaluations will help ensure that development remains sustainable and aligned with ecological priorities.

Technology

What are the benefits of Citizenship NFTs?

Any participant in the Satoshi Island ecosystem must hold a Citizenship NFT (ERC-721), which functions like a membership to a club. You need a Citizenship NFT to build, live, work, or visit the Island. In the future, this NFT will also serve as a soul-bound token/digital ID, where community contribution tokens will be stored. These tokens can then be exchanged for valued items or services on the island. There are also fun aspects to the NFT, with different traits assigned to different numbers. For more detailed information, please review this article.

What rights does a Land NFT Deed give me?

Land NFT Deeds (ERC-1155) grant the holder access to a 360 square meter block of land on Satoshi Island, which can be developed for accomodation purposes. With 10 Land NFT Deeds, you gain access to 360 square meters, and each Deed allows you to collaborate with 9 other holders to utilize the shared rights. Additionally, multiples of 10 NFTs enable you to combine 360 square meter blocks together, allowing for the development of a small resort, a co-living space or an Airbnb. Start collecting your NFTs today, available for purchase on OpenSea.

Here's how NFT land ownership works on Satoshi Island: Satoshi Island Holdings Limited holds the rights to the lease. This company grants a license to Satoshi Island DAO LLC, which is a legally recognized DAO controlled by Satoshi Island NFPT holders. Satoshi Island DAO LLC, in turn, minted the NFTs and grants rights to the NFT holders. Additionally, Satoshi Island DAO LLC is the sole shareholder of Satoshi Island Holdings Limited, creating a circular structure of ownership. This arrangement ensures that all rights, contracts, and agreements are safeguarded by the collective interests of the community. The legal agreements that establish these rights are cryptographically hashed to the NFTs on IPFS, making them easily verifiable. You can view these agreements at the following links:
Land Deeds by Location: https://linktr.ee/landnftdeeds
License Agreement: https://satoshi-island.mypinata.cloud/ipfs/QmRhHe5WBhEHzQbUXTxbaCeHNWyFLfwBFh1i31XfDK7fgX

What's the difference between Land NFT Deed and NFPT?

Land NFT Deeds on Satoshi Island do not have a precise location initially. The conversion from Land NFT Deeds to Property Tokens (NFPTs) will occur after the completion of the Digital Nomad Village and will be managed randomly using Chainlink VRF.

The conversion process for Land NFT Deeds will follow these steps:

Step 1: each Land NFT Deed is assigned a trait, such as "waterfront," transforming it into a Land NFT, which dictates the general area where an owner can choose their block.

Step 2: allows the owner to select a specific block of land based on the assigned trait. This selection follows a first-come, first-served principle, but the community has the option to suggest and decide on a fairer system before this stage is finalized.

This selection process completes the conversion to an NFPT. Moreover, this process can be accelerated, bypassing random assignment, if a community member opts to develop their Land NFT Deed in tandem with the ongoing construction of the eco-resort and the Digital Nomad Village.

Why is there a separate token? Why not just use Bitcoin?

The decision to create a separate token instead of using an existing cryptocurrency like Bitcoin stems from a few key reasons. While Bitcoin was originally envisioned as a means for peer-to-peer transactions, it is now primarily seen as a store of value, and the community is hesitant to use it for everyday spending. Creating a unique currency for Satoshi Island provides more control over its use and allows the community to build a circular economy. For example, maintenance fees can be paid with the island’s native token (STC), which can then be reinvested into improving utilities and facilities on the island. For more information, check out an article written by one of the Satoshi Island community members and mods here.

What is advanced NFT security (ANS)? What happens if I loose access to my Satoshi Island assets?

Advanced NFT Security (ANS) is a concept developed by the original founders to ensure that the community does not lose access to their homes once they are built. The system includes two key roles: Trustees and Beneficiaries. Unlike typical NFTs, owners of Satoshi Island NFTs have certain responsibilities. They are required to confirm access to their wallet once a year. If the owner fails to do so, their designated Beneficiary has the right to claim the NFTs. It also allows users to set up a trustee as a multi-signature function, meaning that if a wallet is compromised, assets cannot be transferred without an additional signature. Additionally, if a wallet remains inactive for a specified period, assets are automatically transferred to a nominated beneficiary wallet. Losing assets is a common challenge in the crypto space, but the Satoshi Island concept was designed with a proactive solution from the beginning to protect user investments.

Are there plans to list STC on centralized exchanges?

Satoshi Coin (STC) is designed to power our community’s economy as the Island's official currency, facilitating payments for goods and services. In addition, the community will undoubtedly bring a wealth of creative utilities to STC, enhancing its value far beyond basic supply and demand dynamics. Its true value will become evident once a number of residential homes are established on the Island. At that point, the DAO will explore listing STC on various centralized exchanges. For now, you are welcome to purchase the currency for future use via PancakeSwap.

What is a "hi-tech, hi-touch, in-touch decentralized community"?

A "hi-tech, hi-touch, in-touch decentralized community" refers to a community that leverages advanced technology while maintaining a personal and connected human experience, with an added focus on using technology for good in harmony with nature. In the context of Satoshi Island, this means utilizing cutting-edge digital tools—like blockchain and smart contracts—to manage community operations in a decentralized way, granting individuals greater autonomy and transparency. Simultaneously, it emphasizes a strong, hands-on approach to community interactions and relationships, ensuring that while technology facilitates operations, human connections and engagement remain at the forefront. This approach also integrates technology with sustainable practices, working in symbiosis with the natural environment to create a balanced, future-forward community that is both technologically advanced and deeply connected to the natural world around it.

General

Can the island be visited anytime?

Yes, the island can be visited at any time, provided the community member holds a Citizenship NFT and has approved accommodation booked for their stay. Currently, spare villas are available to rent via Airbnb. For an additional fee, we can arrange a driver to pick you up from the airport, take you grocery shopping, and then enjoy a trip to the beach where a boat will await to take you on a short journey to the island. Alternatively, you are welcome to arrange your own driver if you prefer. Please use the links below to check availability and book your stay on the island:
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One Bedroom Villa‍
Two Bedroom Villa‍

What are the entry requirements for Vanuatu? What are the options for a long-term stay?

Vanuatu offers a visa on arrival, valid for 120 days, to citizens of most countries. You can find a comprehensive list of eligible countries here. For those interested in a long-term stay, Satoshi Island can assist with arranging permanent residency or citizenship through trusted agents.

Starting at $7,450, the Vanuatu Permanent Residency (PR) visa grants you the right to settle, stay, and reside permanently in Vanuatu with your family. For more information, you can visit https://vanuatupermanentresidency.com/ where Paul Lenda, our official imigration agent will be able to assit you.

Can I come and help with the construction?

Community contributions are encouraged and welcomed, including helping with the construction. However, there will not be any financial compensation. The work on the island is predominantly performed by local workers. With a high unemployment rate, our community is dedicated to supporting the improvement of this situation. Satoshi Island is committed to employing local Ni-Vanuatu residents from the neighboring communities, providing valuable opportunities and contributing to the local economy.

How does Vanuatu law apply to NFT land? What happens in case of a dispute?

Vanuatu has a legal system based on Western courts, but it does not currently recognize digital ownership of land lease, meaning NFT land is not covered by the Vanuatu Land Registry. Any disputes related to NFT land will be resolved in traditional courts based on the existing agreements. If a conflict arises between Satoshi Island and customary landowners, it will also be handled in traditional courts according to the terms of the lease. However, many issues, especially internal matters, can be addressed within the Satoshi Island community itself, and the Vanuatu legal system would only intervene if a crime occurred. For example, "encroaching on another person's land" is not recognized under Vanuatu law, and therefore, the government would not intervene in such matters. This is because the type of land ownership on Satoshi Island is facilitated through NFTs, which represent a license agreement granting the same rights as traditional land ownership but without the complexities of land transfer.

Who handles emergencies? Will Vanuatu provide services? Does the island pay for services?

In the future, as the population of Satoshi Island grows, the community will establish its own security, basic health, education, and emergency services, which will be organized and funded by the DAO. While the island will have its own internal systems, it will still be subject to Vanuatu's laws. In the event of a criminal actions, the island’s own security will work in conjunction with local police, who will be involved as necessary. Currently, aside from petty theft, crime on Espiritu Santo does not exist. Police services are available as required by law, and fire emergency services are in place due to the unpredictable nature of such events. Health emergencies are limited, both in terms of facilities and staff. This presents an opportunity for the Satoshi Island community to invest in local health infrastructure, supporting both our own community and the broader Esperitu Santo population.

Are there any taxes in Vanuatu or on Satoshi Island?

Vanuatu is a tax-friendly jurisdiction with no income tax, no capital gains tax, and no inheritance tax. However, there is a 15% Value Added Tax (VAT) on goods and services, as well as customs duties on some imported items and businesses may also be subject to business license fees. Satoshi Island does not impose any taxes. However, there will be upkeep and maintenance fees that citizens on the island are required to pay. These fees will be transparent, fair, and will be clearly outlined for the community as we grow.

What values should the community uphold?

The Satoshi Island community should uphold values of sustainability, transparency, innovation, and collaboration. Respect for the environment and local culture is crucial, along with a commitment to fostering a decentralized and self-reliant ecosystem. Community members are encouraged to contribute their skills, knowledge, and resources to enhance the collective well-being, while also supporting technological advancements and maintaining a strong sense of unity and mutual respect.

What does "give more than we take" mean?

"Give more than we take" is a principle that emphasizes generosity, contribution, and reciprocity within a community. It means that each individual should focus on adding value, helping others, and improving the collective environment, rather than solely seeking personal gain. By prioritizing the well-being of the community, fostering collaboration, and offering support, individuals contribute to a more sustainable, thriving ecosystem. This mindset helps create a positive, resilient community where everyone benefits from each other's efforts. We hope that ethics will guide the community, ensuring a culture of friendliness, tolerance, and respect. In this environment, unethical actions and discrimination will be absent, fostering an inclusive and positive atmosphere for all residents and visitors. We believe in loving people and using things, not the other way around. While we all value financial health and profits, we prioritize community wellbeing first! This ensures that our success is measured not just in financial terms, but in the positive impact we have on each other and the environment.