The Dash Investment Foundation was incorporated on March 21st as a Cayman Islands foundation company limited by guarantee. The team believes it is the world’s first ownerless and memberless investment fund. Dash Investment Foundation will be tasked with strengthening the Dash network through investment operations funded by the network itself..
In the case of the Dash Investment Foundation, the directors, who are already appointed, are running the day to day business of the foundation. However, there are a few reserved matters that can only be decided at the general meetings, where supervisors vote :
- Entry into any long-term service contract with a director or any other service provider which is or may be for a guaranteed term of more than two years.
- Transfers or acquisitions of non-cash assets with a value greater than US$100,000, which means that any investment of more than that, needs to be approved by the supervisors. The threshold can be changed by the supervisors as the Foundation grows.
- Changes of domicile or jurisdiction of incorporation.
- Decisions on whether to incur debts or liabilities except in the ordinary course of business.
- Supervisors may request access to files, records, accounts or books for the Foundation.
A multi-month proposal to fund the operating expenses for Dash Investment Foundation is submitted to the network for the next proposal cycle. The proposal will request funding for the estimated costs for the first two years of operations. This will include directors’ fees, corporate fees, disbursements, certain legal fees, bookkeeping services, custody and banking services, and a contingent reserve for incidentals or closure if continuation funding is not secured at the end of the first two years.
The annual electionThe first annual election of supervisors for the Dash Investment Foundation is now complete.
Dash Watch and Dash Core Group have independently tallied the votes and cross-checked the results with each other.
The four elected supervisors for the upcoming year will be:
- Amanda Johnson — Amanda B. Johnson
- Michael Lewis — walter
- Jan Heinrich Meyer — essra
- Hytham Abdel-Karim — Unchained
The new supervisors will be appointed immediately and will be responsible for setting the principles that will rule the operation of the Dash Investment Foundation as quoted above.