Any business that wants to exist for very long follows a budget and if they have a good accountant helping them that business will also practice good accounting practices. A government needs to do the same thing, my country America is going through a government shutdown because neither side wants to actually, you know cut the bloated overly large federal budget but that’s not for this article.
Today, I will be focusing on how Liberland needs to conduct its budgetary practices and standards. There are a few processes that I think need to occur. First, the Minister of Finance on behalf of each government department shall submit their budget proposals to the Congress by or on October 1st of each year, beginning on October 2nd through November 15th is the public review period. November 16th through November 30th the Congress reviews, debates and edits the budget. December 1st through 3rd is when the Congress votes on the finalized budget, the budget must pass by a 2/3 majority. If the vote is less than the 2/3 majority the budget reverts to the previous year budget allocations, and no further action or veto is taken. December 4th through December 19th is the Citizen Veto period.
For a veto to be triggered 5% of the total distributed LLM must be staked against that line item for it to be successful. However from December 20th to the December 22nd the Congress is given a chance to override any vetos with a 3/4 majority vote. On January 1st the smart contract automatically executes and spending begins.
No line item budget can go beyond 5 years in length and if a project is not completed in 5 years it automatically sunsets and the remaining funds revert back into the treasury.
I have been working on a proposed draft budget law for Liberland and here it is based on the content of the timeline I have laid out previously. Please note that the wallet addresses are fictitious along with the dates these are just place holders but I will stress that open ledgers and accountability are essential and necessary for Liberland to truly be the most free, open and transparent country in the world.
Preamble
The Citizens of the Free Republic of Liberland, exercising their sovereign authority, hereby ordain and establish the following Act to govern the raising, allocation, execution, and reversion of every public asset in perpetuity.
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Article I – The Treasury
Section 1. The Treasury shall consist of:
a) one 5-of-9 multisig LLD wallet
b) one public Bitcoin wallet
c) one public Ethereum wallet
d) any other crypto asset wallet approved by referendum
e) any fiat bank account registered in the name of the Free Republic of Liberland
Section 2. Permanent addresses:
LLD: 5GrwvaEF5T1nF6c3v9jG8kL2mP7qR9sT3uV4wX5yZ6
BTC: bc1qxy2kgdygjrs9sk5j3c7z4n0p5m9v8l2k7y6x1q
ETH: 0x5A1b2C3d4E5f6G7h8I9j0K1l2M3n4O5p6Q7r8S9
(All future addresses added by 50 % + 1 referendum)
Section 3. The public ledger at https://treasury.liberland.org/json shall display every asset class in real time:
– LLD balance and pie
– BTC balance in satoshis and USD equivalent
– ETH balance in wei and USD equivalent
– Every other ERC-20, SPL, or UTXO asset
– Every fiat bank balance (EUR, USD, CHF) with last 4 digits and bank name
– Total USD-equivalent net worth (CoinGecko + ECB rates)
Section 4. Any transfer ≥ the lower of 2 000 LLD or 0.1 BTC or 1 ETH triggers:
a) on-chain event
b) push to every verified phone via Liberland app
c) 48-hour citizen STOP button
Section 5. CertiK audit every 91 days covers all chains and fiat accounts.
Report pinned to Transparency Hub within 14 days or Treasury locks 5 %.
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Article II – Annual Budget Submission
Section 1. On or before 1 October, 00:00 UTC, the Minister of Finance shall upload to IPFS a single encrypted archive containing:
a) budget.xlsx (maximum 250 line-items)
b) impact.pdf (one page per line-item)
c) sponsors.csv (initially blank)
Section 2. Failure to meet the deadline shall cause the Treasury to suspend all disbursements for thirty calendar days and distribute ten percent of the prior fiscal year’s unspent balance exclusively to verified citizens who held 5,000 or more LLM during that year and not currently on welfare at the time of disbursement.
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Article III – Legislative Process
Section 1. Public Examination Period
2 October – 15 November inclusive
Daily public hearing at 19:00 CET via agreed platform at the time of budget submission.
Each line-item: seven minutes presentation, seven minutes questions. Line-item presentations will be done by the responsible Cabinet member who made the submission.
Section 2. Amendment Period
16 November – 30 November inclusive
Any Member of Congress may propose a change but can only propose an increase of up to 20% and can propose any percentage decrease up to and including deleting said line-item.
Simple majority of seated Congress Members adopts motion.
Section 3. Final Passage
1 December 00:00 UTC – 3 December 23:59 UTC
Requires two-thirds affirmative vote of seated Congress Members
Failure to pass motion: automatic continuation of prior-year budget at zero growth
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Article IV – Citizen Veto and Legislative Override
Section 1. Citizen Veto
4 December 00:00 UTC – 19 December 23:59 UTC
One LLM staked = one veto
Five percent of total distributed LLM nullifies any line-item
Every verified citizen’s phone shall receive a push notification when any line-item reaches four percent veto stake and again upon its death at five percent
Section 2. Override
20 December 00:00 UTC – 22 December 23:59 UTC
Three-quarters affirmative vote of seated Congress Members restores line-item at full amount
One attempt only
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Article V – Execution and Sunset
Section 1. Execution
1 January 00:00 UTC
The Treasury multisig receives the final line-item vector
Disbursements commence automatically
Section 2. Sunset
Every line-item expires 31 December of the fifth fiscal year following submission
Unexpended balances shall be distributed pro-rata exclusively to verified citizens who staked 5000 or more LLM during the project’s duration and not on welfare at the time of disbursement.
Incomplete projects terminate without exception.
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Article VI – Emergency Expenditure
Section 1. The President may authorize an additional ten percent expenditure of the Treasury for sixty calendar days only upon:
a) declaration of war ratified by Congress, or
b) verified loss of sixty percent or more of Treasury assets, or
c) Catastrophic natural disaster
1) Danube flood ≥ 8 m at Apatin gauge
2) Earthquake ≥ 6.0 within 200 km of Liberland
3) Wild-fire consuming ≥ 25 hectares of Liberland territory
e) Cyber-attack
1) Verified breach of Treasury private key material
2) Ransomware lock of ≥ 25 % of government services
Section 2. Twenty-four-hour public notice and Supreme Court review required.
Section 3. Day sixty-one: binary citizen referendum, one citizen one vote
Section 4. Instant Citizen Circuit-Breaker
Within 24 hours of invocation, any verified citizen may open a STOP petition.
If 3 % of total LLM stakes “STOP” within 48 hours, the emergency unlock freezes immediately and triggers a 72-hour binary referendum:
“Continue emergency spend? YES / NO”
(one citizen, one vote).
Section 5. Sunset & Claw-back
Day 61 → any unspent emergency LLD is airdropped only to citizens who had staked ≥ 5,000 LLM at the end of the emergency but are not currently on welfare.
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Article VII – Integration with Existing Statutes
Section 1.
Complete budget data shall stream continuously to the Transparency Hub
Section 2.
Verified fraud yields one-percent bounty from the forfeited line
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Article VIII – Enactment
Section 1. This Act enters force upon closure of referendum with fifty percent plus one affirmative votes
Section 2. Technical deployment:
Testnet: 1 April 2025
Mainnet: 1 October 2025
First veto window: 4–19 December 2025
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ANNEX A – Statutory Calendar 2026
1 October Submission deadline
2 October – 15 November Public examination
16 – 30 November Legislative amendment
1 – 3 December Final passage
4 – 19 December Citizen veto
20 – 22 December Legislative override
1 January Execution
31 December 2030 First sunset
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ANNEX B – Required Spreadsheet Columns
A LineID B Ministry C Project D LLD E Percent F Duration
G KPI Text H KPI Metric I SponsorKey (blank unless amended) J ImpactCID
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ANNEX C – Mainnet Contract Addresses
Treasury LLD 5GrwvaEF5T1nF6c3v9jG8kL2mP7qR9sT3uV4wX5yZ6
Treasury BTC bc1qxy2kgdygjrs9sk5j3c7z4n0p5m9v8l2k7y6x1q
Treasury ETH 0x5A1b2C3d4E5f6G7h8I9j0K1l2M3n4O5p6Q7r8S9
VetoPallet 5Hk9vX7wZ3qR2tY6uB8nM4pL5kJ9iH7gF3dS2aC1
Clawback 5Fd8cV6bN4mJ2kP9qR7tY5uI3oL1pN6jH8gF4dS2
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ANNEX D – Treasury Ledger Contents
The public ledger at https://treasury.liberland.org/json shall at all times contain:
1. Current block height and UTC timestamp
2. Total LLD, BTC, ETH, every other token, and every fiat balance
3. Total USD-equivalent net worth
4. A pie chart dividing the Treasury into unallocated, approved, emergency, audit-frozen, and airdrop pools
5. The fifty most recent transactions across all chains and bank accounts
6. An array of every approved line-item showing:
– Line ID, project name, ministry, sponsor name and wallet (if amended)
– Amount in LLD and percentage of Treasury
– Duration in years, KPI text, impact document link, sunset date
– Current veto stake and vetoes required to kill
7. Real-time veto dashboard
8. Citizen-only airdrop pool
9. Emergency status flag
10. The three most recent audit reports
11. Merkle root enabling any citizen to prove every balance independently
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ANNEX E – Multi-Asset Display Example
The ledger shall display assets thus:
LLD: 4 200 000 ($4.20 M)
BTC: 12.34 ($987 654)
ETH: 567.89 ($1 234 567)
USDC: 98 765 ($98 765)
EUR: €123 456.78 (Raiffeisen ****5678)
Total net worth: $6 543 210
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PETITION FOR REFERENDUM
Shall the Liberland Budget Act (LBA) be enacted?
[ ] YES [ ] NO
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