Operating Agreement

The operatingAgreement property links to the legal agreement that defines the governance rules for the property. This agreement acts as the legal firmware of the property.

Different operating agreements can be used to:

Map NFTs in various geographies using appropriate legal wrappers.
Implement different governance structures, ranging from simple residential to complex commercial.

The Operating Agreement is established at issuance and requires more than 70% of outstanding tokens to update. It should be stored on decentralized storage platforms like IPFS or Arweave, preferably in markdown format.

In the U.S., the Operating Agreement is typically the Fabrica Trust Agreement.