Above Board — Setting the Tone for the EOS Foundation

It’s amazing how much can be accomplished in such a short amount of time when you bring together a group of passionate like-minded individuals whose incentives are aligned. Last week the EOS Foundation held its first meeting with its Board of Advisors, but before sharing the details of what was achieved and discussed, let’s recap what we’ve accomplished in the first month since the initial announcement to launch an EOS Foundation. It feels like we’re moving at hyper-speed after years of painful exsanguination within the EOS community.

Timeline of Events

• August 5 — Announced Initial Plan to Launch the EOS Foundation
• August 12 — MSIG passed establishing eosio.grants
• August 23– Published Introducing the Pillars of the EOS Foundation
• August 25 — MSIG passed to Fund the EOS Foundation
• September 1 — Published Laying the Foundations
• September 1 — First Board of Advisors Meeting
• This Week — Board of Advisors Meeting

EOS Foundation Board of Advisors

The Board of Advisors are responsible for providing the EOS Foundation with critical feedback and advice on its overall direction, which is especially crucial during this formative period as the vision for the EOS Foundation and EOS itself takes shape.

Board Members

• Aaron Cox, founder of Greymass
• Dafeng Guo, founder of EOS Asia and Strikingly
• Fu Pan, founder and CEO of TockenPocket
• Peter Watt, Newdex Project Leader
• Van Kai, iconic founder and leader of the EOS Cannon community
• Wen Huaqiang, veteran developer and initiator of CryptoKylin

Last Wednesday, we held the initial board meeting for the EOS Foundation, which brought together a culturally diverse international team of EOS leadership to reach consensus on operational structures, bylaws, ecosystem funding, and more.

First #EOSFoundation Board meeting complete. 2.5 hours later, many decisions taken, a lot of discussion. Very productive. Looking forward to sharing progress and details in my next post. $EOS 🚀

— Yves La Rose (@BigBeardSamurai) September 2, 2021

The Board meeting was held at 9pm EST / 9am Beijing time to accommodate all time zones. We began the meeting with introductions for all of the highly accomplished Board members before rolling our sleeves up to immediately get to work on fulfilling the core mission of the EOS Foundation; to enable developers, businesses, and individuals to build on EOS by leveraging the assets placed under its stewardship under the guidance and support of the Board.

In order to fulfill this mission, we must first define and establish the processes for which we will follow in order to accomplish our grandiose vision. Therefore, a large part of the initial meeting was focused on consensus building to align everyone on operational structures and bylaws so that we could proceed forward with an agreed upon process for decision making and oversight.

• Introducing the Pillars of the EOS Foundation

Allocating Funds for Ecosystem Growth

A source of funding outside of block production has been one of the most crucial elements that has been lacking in the EOS ecosystem since launch and is one of the topics of discussion being talked about the most amongst the EOS community.

As outlined in my Laying the Foundations blog post, the Board of Advisors will be responsible for reviewing grant and sponsorship proposals brought forth by the Core as a means of providing guidance and transparency to the decision making process.

The meeting agenda included plans for Core to present the Board with its proposal for the initial set of community grant recipients, all of which are existing EOS projects with strong reputations and a history of delivering. However, after 2.5 hours spent reaching consensus on a variety of other matters, it was decided that we would postpone these important discussions until the next meeting with a refreshed mind and revitalized focus. The next Board of Advisors meeting is already scheduled for this week.

Despite that, one key funding decision was made at the initial board meeting. The Board approved Core’s proposal to provide a one-time 200,000 EOS injection into Eden plus a pooled allocation of 200 EOS multiplied by the total number of Eden members at the time of the token transfer. This grant will allow Dan Larimer and the Eden community to proceed with their first political playoff election. The Foundation is steadfast in its commitment to growing communities and empowering the EOS ecosystem. The grant will bestow the community with an immediate source of funding for new projects and initiatives while the EOS Foundation focuses its early efforts on providing direct grants to existing projects with proven track records of value creation despite the previous lack of network-wide support.

The #EOSFoundation is steadfast in its commitment to growing communities and empowering the #EOS ecosystem.

✅ @EdenOnEOS
🟩 More to come!

Leave a comment about which projects you think should be included in future grants and the value that they bring to the $EOS community! https://t.co/a7Q12G8Hif

— Yves La Rose (@BigBeardSamurai) September 6, 2021

In the future, the EOS Foundation also plans to allocate resources directly to new initiatives which will be able to be formally proposed with an action plan, deliverables/milestones, and KPIs to both the Foundation and the EOS community via Pomelo’s community-driven crowdfunding platform. The EOS Foundation will not only participate as a Pomelo grant matching partner while leveraging its quadratic voting formula, but will also use the platform to help identify further opportunities for potential direct funding and/or sponsorships.

Please stay tuned for more updates as we continue to rapidly iterate towards building a better future for EOS!

Yves

EOS Network

The EOS Network is a 3rd generation blockchain platform powered by the EOS VM, a low-latency, highly performant, and extensible WebAssembly engine for deterministic execution of near feeless transactions; purpose-built for enabling optimal web3 user and developer experiences. EOS is the flagship blockchain and financial center of the EOSIO protocol, serving as the driving force behind multi-chain collaboration and public goods funding for tools and infrastructure through the EOS Network Foundation (ENF).

EOS Network Foundation

The EOS Network Foundation (ENF) is a not-for-profit organization that coordinates financial and non-financial support to encourage the growth and development of the EOS Network. The ENF is the hub of the EOS Network, harnessing the power of decentralization as a force for positive global change to chart a coordinated future for EOS.