A new EOS Foundation led by Yves La Rose and supported by Dan Larimer is being established with a mandate to fund the ongoing growth of the ecosystem.
Yves shared this vision with the community in a Medium post on August 6th. Having recently resigned as EOS Nation’s CEO, the vision emerged over the past two months through conversations with EOS stakeholders including Dan Larimer, who published his support for the plan hours later.
“There is one individual who has consistently been leading the consensus building process on EOS, Yves La Rose, formerly of EOS Nation. […]
I believe that a temporary leader of the EOS community empowered by inflation and checked by transparency can help us navigate the complex decisions that need to be made to ensure the success of EOS.” – Dan Larimer
Yves will be asking block producers to increase the inflation on the network with an additional 2% in order to fund the EOS Foundation.
“At the onset, the EOS Foundation will request the legacy name and ram fees be placed under its stewardship, and on a periodical basis it will request transfers from the inflation savings account for ongoing operations.” – Yves La Rose
The response from the community was swift and overwhelmingly positive. For a recap of the excitement, watch the latest Everything EOS YouTube episode entitled “An EOS Foundation is Coming to Fuel the Growth of the EOS Ecosystem”. In this video, Zack Gall makes a passionate and persuasive case for why EOS needs such a foundation and how it could help revitalize the EOS community and ecosystem.
Accompanying Zach on this episode was Chris Barnes, one of the elected leaders of the Eden on EOS community, who asked some very pertinent questions about the details surrounding the EOS Foundation, how it would operate, and how Eden will play a role in all of it.
Chris has also published a written blog post that compiles his questions surrounding the EOS Foundation, as well as questions that have cropped up in various community discussions on the topic.
Cryptowriter’s Sean Ballent also published a very raw blog post titled A New Dawn that offers a glimpse into the path that the Cryptowriter organisation has taken and the difficulties they’ve encountered due to the lack of available funding in the ecosystem.
Since the announcement last week, Yves has been focused on talking to various key stakeholders, answering any questions they might have, and working towards reaching consensus.He has promised more formal public communications as more details are confirmed.
He offered some insights into how the EOS Foundation will be set up in a recent post on Telegram in the Everything EOS channel. The permission structure of the Foundation account will require a 36 hour delay for any action to be executed, allowing block producers to review all transactions and giving block producers the ability to intervene if they believe the transaction should be stopped.
Yves has also confirmed that an advisory council is in the process of getting set up and will advise on grant recipients, project sponsorships, and overall direction of the Foundation.
Overall, we think this is a great opportunity to adequately fund the EOS ecosystem, retain our developers, and attract new ones to build on the EOS Mainnet. GO EOS!