Everscale Foundation was created

Everscale Foundation was created

The decision to create the Everscale Foundation was made at the end of 2021, along with the acceptance of a proposal to expand the partnership with DeFi Alliance. The necessary legal procedures were passed, and in August, 23, non-profit organization Everscale Foundation was registered in Switzerland.

Everscale was born decentralized. At no point in time was there a single organization that controlled the network and could single-handedly make decisions. However, due to the decentralized model, a problem arose when communicating with counterparties: exchanges, media, aggregators, etc.: different teams contacted them and said that they represented the interests of Everscale. It scared off and confused counterparties. The Everscale Foundation was established to solve this problem.

The main goal of the organization is to remove barriers between the Everscale community and the outside world by creating a single entry point for journalists, influencers, developers and others.

To assess Everscale Foundation status, it is important to understand the following:

  • Foundation is not an Everscale network. Developing organically, Everscale has many passionate and supportive individuals and organizations forming alliances to accelerate network growth, and the Foundation is just one of them.

  • Foundation does not control Everscale and only performs the functions delegated to it by public consent as part of the allocated funding. The only control possible in Everscale is public consensus through voting with the native Everscale token — EVER.

  • Foundation decisions are not legally binding on members of the Everscale community. The Foundation's role is to represent the network in front of the outside world and serve as a point of contact connecting the Everscale community and everyone beyond. Without public consensus approval, no direct, legally binding agreements are possible. However, the Fund may act and sign any contracts on its own behalf within its authority.

Everscale Foundation tasks:

  1. Creation of a single entry point for journalists, influencers, government agencies and other counterparties.
  2. Create a single entry point for all projects that want to create Everscale-based products. Support for such projects.
  3. Targeted grant support for projects that benefit the network the most. For example: developing the main infrastructure (nodes, system utilities), creating documentation for the main network products, increasing liquidity, users and transactions.
  4. Storage of intangible assets of the network and protection of rights to them in court, if necessary (trademarks, patents, domains, etc.).
  5. Promotion of Everscale.
  6. Legal support to facilitate the listing of network tokens on exchanges, trackers, analytical resources, etc.

Everscale Foundation Budget

After accepting the proposal, 50 000 000 EVER were allocated from the treasury to fulfill the goals of the Foundation. Everscale fund address: 0:fee1a3bd261619f036d83aafd8b34f47d794bbb58185379877291003f3a3526d

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