Introducing the Pillars of the EOS Foundation

As a follow up to my previous post announcing the establishment of an EOS Foundation, the EOS Block Producers have signaled their initial support for the Foundation by approving the creation of the eosio.grants account. Continued discussions with stakeholders ensue and progress is moving rapidly.

Organizational Structure of the EOS Foundation

The Foundation will be composed of two distinct groups of individuals. A core team responsible for the day-to-day management and administrative operations of the Foundation (hereinafter referred to as “core”), and a board of advisors made up of subject matter specialists that can help with gaps in knowledge (hereinafter referred to as “board”). The board will not be responsible for the governance of the Foundation. Rather, the board exists to deliver advice and support to the core.

The Foundation core will be composed of individuals selected and appointed by me as my trusted executive. Individuals with whom I wish to work as they have displayed an operational expertise in their respective fields and will fulfill the important functions needed to operate a corporate entity. The core will be lean and efficient, focusing on implementing the mission of enabling developers, businesses, and individuals to build on EOS by leveraging the assets placed under its stewardship under the guidance and support of the board. The eosio.grants@active permissions will be updated with the addition of new core members as they onboard. The Foundation aims to be registered and operated as a non-for-profit non-soliciting corporation registered in Canada and will be beholden to requirements and reporting practices to be deemed as such. All financial activity will occur on-chain and stem from the eosio.grants account. For added transparency, periodical financial expenditure reports will be made available publicly.

EOS Foundation Endowment

To kick-start the development stage of the Foundation as a means to establish itself through activities such as investments, marketing, and development support, the Foundation has requested a transfer of roughly 3.5M EOS to eosio.grants. This funding level is comparable to an average Series A funding round. The Foundation has also requested that the EOS Block Producers reactivate the eosio.saving bucket originally found in the EOS white paper. This bucket was active at network launch but was later disabled when no consensus was reached on an effective means to utilize these assets. Over time, these funds will be deployed in a coordinated and supervised fashion on behalf of EOS, within EOS, for EOS.

EOS Foundation Advisory Board

The board will be capped to seven (7) positions to maximize effectiveness. The board has been appointed and selected as a result of extensive discussions with stakeholders. These elite individuals have displayed an exceptionally strong business acumen, incomparable data access, and an overall understanding of EOS that will be required when providing advice to the core. One (1) position remains open at this time for which I am actively recruiting.

• 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

This board will be responsible for reviewing the grant and sponsorship proposals brought forth by the core as well as providing it with critical feedback and overall direction. Although the final decisions and on-chain authority remain with the Foundation core, the board will serve as an overarching oversight function to ensure external stakeholder accountability is present.

Leveraging the on-chain permission structure already set on the eosio.grants account, the board will be able to alert the EOS Block Producers and subsequently push to cancel any impending questionable transactions from the core. Without question, the board is composed of individuals capable of doing so. The Foundation core gives them preemptive authority to act as such should the board deem it to be in the best interest of EOS. Should the core fail to respect the counsel of the board on too many repeated occasions, the core also gives preemptive authority to the EOS Block Producers to change the set of keys to eosio.grants@active.

EOS Ecosystem Growth

Building upon tried and tested models, the Foundation will be a gateway for funding blockchain technology projects that meet the needs of the EOS ecosystem. Some key areas include: core infrastructure, improved developer tooling and UX, security, education and technical knowledge, and ecosystem growth. The Foundation will equally focus on funding core components and technology that will enable far-reaching community building projects in the blockchain space through a suite of products and initiatives.

At launch, grants will be directed to developers, businesses and individuals that have kept EOS running despite the clear lack of network-wide support. Once the Pomelo platform is live, the Foundation will distribute grants and bounties leveraging it. Pomelo is a community-driven open-source crowdfunding platform that democratically multiplies contributions through the power of quadratic voting.

The Foundation will strive to understand the fundamental needs of the ecosystem, and look for great projects who respond to those needs by enabling others to build on their developments. It will support projects by connecting both the community of grantees and the board, as well as provide access to the eventual mesh of Foundation products and initiatives, and commits to doing so in multiple languages within adapted cultural frameworks simultaneously. The Foundation will ensure there is global representation reflective of the EOS community within its ranks.

In addition and key to the process, the Foundation will help highlight grantee projects through media outreach amplification. EOS has been lacking a knowledgeable, funded, coordinated voice that can champion its best and brightest and the Foundation will prioritize this at the onset.

A better EOS is possible.

Yves

FAQ

What is the organizational structure of the EOS Foundation?

• Core team responsible for the day-to-day management and administrative operations of the Foundation
• Board of advisors composed of subject matter specialists that can help with gaps in knowledge

Who will be on the core team?

Individuals that have displayed an operational expertise in their respective fields and will fulfill the important functions needed to operate a corporate entity.

Who is on the board of advisors?

• 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

*One (1) position remains open at this time for which the Foundation is still actively recruiting.

What is the role of the board?

Responsible for reviewing the grant and sponsorship proposals brought forth by the core. The board exists to deliver advice and support to the core.

How will the EOS Foundation direct its grant funding and sponsorships?

Priority of initial grant funding will be made available for the developers, businesses, and individuals who sustained EOS despite lack of network-wide financial support.

Sample key areas of funding;

• Core infrastructure
• Improved developer tooling and UX
• Education and technical knowledge
• Security
• Ecosystem growth

Equal focus on funding core components and technology that will enable far-reaching community building projects in the blockchain space through a suite of products and initiatives.

How will the EOS Foundation support ecosystem growth beyond just funding?

• Support projects by connecting both the community of grantees and the board
• Providing access to the eventual mesh of Foundation products and initiatives
• Connect projects to work together where synergies can be made or where they are able to build on top of each other’s developments
• Help highlight grantee projects through internal and external marketing

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.