Dash Investment Foundation Launched To Promote Vision
By Jofor a.k.a. Cyberczar - 2019-05-11
The Dash Investment foundation which was registered and incorporated in the Cayman Islands in March with the aim of creating a springboard from which the Dash Foundation would invest in projects and benefit from its equities has been launched.
This was made known by the CEO of Dash Core Group, Ryan Taylor according to a post published on the Dash Network on May 9. Taylor stated that this is the first memberless and ownerless investment fund that fulfils the principles of blockchain decentralization investment.
The fund has been described as creating a bridge between the traditional investment system and network protocol. It is a platform on which developers can leverage to build decentralized applications while the network and its partners benefit as Dash actively contribute in the advancement of projects.
The investment activities of the foundation will be superintended by Dash foundation directors and supervisors who would be professionals in the relevant fields and individuals appointed by the network respectively.
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’s directors. Day-to-day operations will remain with the directors and investment manager.” - Ryan Taylor
In its oversight function, the Cayman Islands will appoint the first two directors in the first year.
The venture which is planned to operate independent of the Dash Core Group would commence its operation as a non-voting partner of the network.
The commencement of operation by the Investment Foundation is consequent upon the allocation of funds by the network expected after the Dash Watch audit of the May 23 to June 16 elections.
The details that would be fine-tuned include the appointment of an investment manager and interference in functions that may on collision course with governance protocols and establishment of the procedures for funding of projects.
It is expected that the project would be tailored to enable Dash users easily participate with no need of KYC and AML processes.
The main objective is to enable the Dash network participate in and benefit from interesting propositions.
According to Ryan:
“Our solution was to avoid distributions all together, which would have required participants to submit information about themselves to this entity for compliance reasons. Instead, if there is ever a need to distribute funds, the foundation can simply purchase Dash on the open market and destroy it to facilitate transfer of value to all Dash holders equally. This would reduce the circulating supply and have the effect of boosting the price of Dash in a manor similar to a stock buyback.”