I have been working towards a vision to establish an EOS Foundation to fund the ongoing growth of the ecosystem.
EOS faces many difficulties and surmounting them will be no easy task. EOS is in a state akin to exsanguination. It is clear to me that in its quest to achieve a desired level of decentralization EOS omitted giving way to the growth of centralization which brings about known benefits, such as efficiency and efficacy. It did so expressly to distance itself from the traditional systems, which gave rise to the blockchain revolution in the first place. In this regard it has succeeded. However, for a system to be antifragile it requires balance. EOS lacks a focused entity that has, at its core, a mission of enabling developers, businesses, and individuals to build on EOS. A top-down appointed hierarchy responsible for the urgently needed allocation of funding and coordination of resources that is common in other ecosystems but is lacking in EOS. Many have argued that this was to be Block.one’s role when they were sent over $4B during the token sale, however there is widespread consensus that they have failed and are failing to adequately take on that role if this is something they are indeed aiming for. Regardless, this void must be filled.
These last two months offered an opportunity to take a step back and reflect on the EOS ecosystem from a different angle. Having resigned as the CEO of EOS Nation, my days opened and I could utilize my time as I chose fit. I found myself in a peculiar and interesting position. Where should I be dedicating my time; how could I best continue helping to grow this community to add the maximum amount of value; did I even want to remain here or was it time to pack up… I sought counsel with many in the community who have supported me along this multi-year journey and have provided such an incredible amount of insight and advice. Throughout those conversations I was reminded of the reasons why EOS attracted me in the first place and the magic that many of us once felt as members of an inspirational community, whilst contemplating the difficult realities that we face currently. Those realities were known to me during my tenure at the helm of EOS Nation, but no longer holding that position gave me a new understanding of these challenges and an opportunity to take time to reflect upon them. I could now focus on different methods to leverage my unique skill set, knowledge, and expansive global network, outside of the current structures that govern the EOS ecosystem.
I have been reaching out to stakeholders within the ecosystem and through these conversations emerged a vision and a means by which to make it see the light of day. Some of these key discussions have been with the creator and architect of EOSIO, Dan Larimer. His advice has been instrumental in ensuring that the Foundation has the best chance of success and heads in the right direction from the start, streamlining the ultimate goal. His ongoing guidance and support is much appreciated.
Executing on this vision is something I am capable of and something that I wholeheartedly believe needs to be done. I am up for this challenge and am inspired to lead EOS to become what so many wanted and expected it to be.
I will be asking the Block Producers to show support for the Foundation by increasing the inflation of the network by 2% for its use. At onset, the 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. Through this stewardship the Foundation will be leading the mission that it has been assigned. Grants, sponsorships, and key infrastructure support will be at the core of this mission.
I commit to the EOS community that I will move forward with humility and purpose to meet this moment in our shared history. I am truly honoured by this call to service and will do my best each and every day to be worthy of it.