In Issue 1, I mentioned the start of a project for the joint purchase of a plot of land in the south of Montenegro. Fundraising was initiated for this, and to confirm the share of participation in the project, 80,000 MTL tokens were issued on the Stellar blockchain, which were then offered for purchase to anyone interested. As far as I can tell from the token page on the Stellar website, today the token already has 67 holders (you can find the current figure at the moment you are reading the article by looking at the funded trustlines line).

However, buying land is not the only possible direction for investment in Montelibero. Therefore, the project initiators decided to complicate the tokenomics a bit. Now you can invest directly in the MTLCITY land token, or you can stay in MTL tokens, with the exchange rate of both tokens being exactly 1 euro. The logic is as follows. The number of MTLCITY tokens is exactly equal to the sum in euros that makes up the costs of acquiring and registering the land, constructing the mandatory infrastructure, and other expenditures on public goods approved by current holders. At the same time, each token grants the right of ownership to a piece of land equal to the total land area divided by the total token issuance. If a new expenditure needs to be funded, an additional issuance of land tokens takes place, and current holders have the right of first refusal to buy the additional issuance proportionally to their existing share—thus, the area of land assigned to them will not decrease. But if this right is not exercised, the tokens will be bought by someone else, and the previous holder’s share will decrease. So far, MTLCITY has 6 holders; many prefer to own land indirectly, through the MTL fund, rather than planning the allocation of a physical plot for their direct use.

As for the MTL tokens, they can be used not only for land investments but also for other business projects, for example, the purchase of a crypto ATM or something else equally inspiring and ancap-friendly.

I tried to explain this as clearly as possible; if I didn’t succeed, I apologize, you will have to ask for clarification in the project chat.

Now I will move from the intangible to offline news. A third family has moved to Montenegro as part of the Montelibero project, as a result of which the diaspora now consists of six people. Budva is currently serving as a transit base for all settlers, and later, both I and the newly arrived family from Tomsk moved to the city of Bar, which is cheaper and closer to the land being purchased.

Next week, the payment of a deposit and the reservation of the land plot are expected. Then, within a month, we will have to register a company, which will then take ownership of the land. In this company, I will perform the functions of director, meaning I will directly manage the process of land development—of course, according to the instructions of the company’s shareholders. For now, I am looking for a geodesist (they are archaically called geometers here) to transfer the plot boundaries from the cadastral plan to the terrain, after which we can begin clearing the plot of underbrush and building a road to it.

I would say that so far, despite being much less well-known, our project is developing faster than Liberland and Liberstad (the latter is particularly disappointing, as it is very close to us in concept, but so far looks more like a scam). I hope we will continue to meet expectations, despite Montenegro’s reputation as an extremely slow-paced country.