The Cordite Foundation is, currently, a necessary thin legal wrapper around Cordite, which is a DAO in Cordite.

The Foundation will be bootstrapped with a set of simple rules around:

  • membership - ie rules around joining
  • governance - who can make proposals, vote for proposals, what happens to accepted proposals
  • economics - how proceeds are used to run and evolve Cordite

Members of the Cordite Foundation are expected to:

  • have proof of stake
  • provide core infrastructure
  • make proposals for evolving all aspects of cordite

The aim of the foundation is to create a body of people who can be trusted to over see the funding, running and evolution of cordite over time. Much like an open source foundation.