Fluid Protocol Poised for Foundation Launch with $3M Annual DAO Grant
A new governance proposal by Instadapp's COO aims to establish a non-profit foundation for Fluid, funded by a significant annual grant from the DAO. The foundation will manage the protocol's core assets.
A significant governance proposal has been introduced that could lead to the establishment of a dedicated non-profit foundation for the Fluid decentralized finance (DeFi) protocol. This initiative, spearheaded by the COO of Instadapp, aims to create a structured entity to oversee critical aspects of the protocol's operations.
The proposed foundation, if approved by the DAO, would be responsible for the stewardship of Fluid's codebase, its frontend interfaces, and its associated trademarks. This move is designed to ensure the long-term integrity and development of the protocol's public-facing elements.
A key component of the proposal is the funding mechanism. The foundation is slated to receive an annual grant of $3 million, to be disbursed directly from the DAO's treasury. This consistent financial backing is intended to provide the foundation with the resources necessary to fulfill its mandate effectively.
This proposal represents a strategic step towards formalizing the governance and management of a prominent DeFi protocol. By creating a dedicated foundation, the Fluid ecosystem seeks to enhance accountability, streamline decision-making, and ensure the sustainable growth and security of its technology and brand in the evolving Web3 landscape.
Originally reported by The Defiant.