{"id":23846,"date":"2019-05-10T02:08:06","date_gmt":"2019-05-10T02:08:06","guid":{"rendered":"https:\/\/www2019.dash.org\/?p=23846"},"modified":"2021-09-18T11:43:43","modified_gmt":"2021-09-18T11:43:43","slug":"dash-dcgs-ryan-taylor-announces-the-creation-of-dash-investment-foundation","status":"publish","type":"post","link":"https:\/\/www.dash.org\/news\/dash-dcgs-ryan-taylor-announces-the-creation-of-dash-investment-foundation\/","title":{"rendered":"Dash DCG\u2019s Ryan Taylor announces the creation of Dash Investment Foundation"},"content":{"rendered":"

We are excited to announce that the \u201cDash Ventures\u201d project is nearing completion, and we are now preparing to formally operationalize the investment fund. This post explains the background of the project, outlines the legal structure selected, and describes the final steps\u200a\u2014\u200aincluding supervisor elections\u200a\u2014\u200athat must be taken to complete its setup. The legal name of the entity is \u201cDash Investment Foundation\u201d. The Dash Investment Foundation was incorporated on March 21st as a Cayman Islands foundation company limited by guarantee.\u00a0We believe it is the world\u2019s first ownerless and memberless investment fund.<\/em>\u00a0Dash Investment Foundation will be tasked with strengthening the Dash network through investment operations funded by the network itself.<\/p>\n

Dash is now the first cryptocurrency network with a proposal system capable of investing in its own ecosystem. No longer must all distributions from the proposal system be grants. The foundation creates a bridge between the network protocol and the legacy financial and legal systems. This opens new possibilities for entrepreneurs and the Dash network to partner and mutually benefit from the funding available through the Dash network via Dash Investment Foundation. Importantly, this capability has arrived in time to benefit developers looking to build applications on the Evolution platform.<\/p>\n

Dash Core Group first proposed investigating the creation of a network-controlled investment fund in June of 2018, with the aim of enabling the Dash network to invest in higher-risk opportunities, by enabling proposal owners to issue equity or other assets in consideration of the network funding. Results from initial legal research was promising, and we secured additional funding from the network in August of 2018 to pursue the creation of the legal entity.<\/p>\n

Dash masternode operators will elect the six supervisors that oversee the foundation. Key organizational and operational decisions would be put to the supervisors for approval by the foundation\u2019s directors. Day-to-day operations will remain with the directors and investment manager. The supervisors may consist of virtually anyone trusted by the network to carry out supervisory duties, while the directors would consist of experts with the appropriate skills to oversee the foundation.<\/p>\n

Glenn Kennedy from Paradigm Governance Partners and Casey McDonald from Calderwood, are Cayman Islands-based governance professionals. They will serve as the foundation\u2019s initial directors and supervisors. We also need an additional slate of 4 supervisors elected by the network. Starting in the second year, all six supervisors will be elected by the network.<\/p>\n

Our intent is to enable Dash Ventures to operate completely independently from Dash Core Group. To ensure a smooth handover, I will offer my services to the foundation for the first year as a non-voting participant to answer questions, and provide any expertise, direction, guidance, and counsel to the supervisors to help ensure all intents of the foundation\u2019s constitution are clear.<\/p>\n

To fully operationalize the entity, there are three steps remaining:<\/p>\n