Happy 2018 Liskers!
And welcome back to the final post in our series: Planning a Dapp on Lisk Business Plan.
There are several ways you can plan the organization of your blockchain project. There is no right way, for instance you could just create a coin like Bitcoin without governance, or you could create something like Decred with built in governance. With Decred about 10% of the coins generated go into a pool to help pay a dev team.
In our example since we’re building a business Dapp we’re covering a different organization planning style. Similar to how Lisk created the Lisk Foundation, Ethereum has it’s Ethereum Foundation, Litecoin, Ripple and so on…
There are many benefits of having the founding team centered in a foundation and separated from the actual blockchain network.
One is that you get to keep the decentralized nature of the actual blockchain, keeping it open source as well. While at a later date you can sell the foundation and the rights to keep maintaining the code to another entity as an exit plan.
This is what we’re covering today.
Note how the foundation is kept on a .org domain while the blockchain site could exist on a .net or .io or other domain.
From our Futuratum example business plan.
The Futuratum Foundation entity will be created in either Switzerland or Singapore.
- Leon Gaban CEO
- Wes Solomon CTO
- Paulo DaRocha VP of Engineering
- Eric Bergerson
Futuratum will own several delegate nodes that will secure the blockchain. These nodes will earn Futum along with other delegates. The current plan is to follow a very similar DPoS model to Lisk where 101 main delegates maintain the security of the network and earn tokens every block (10sec blocks).
Delegated Proof-of-Stake (DPoS) incentivizes users to secure and promote the network. Bad actors are disincentivized since delegates can lose their forging status if they are voted out.
In addition, Futuratum will create and market a Lisk delegate pool in order to forge Lisk rewards on the Lisk blockchain. The top 101 Lisk delegates will be more inclined to vote in other top delegates which support the platform.
|March – May||
Currently, the rights to develop and maintain the Futuratum network will be owned by the Futuratum foundation. Once the platform gets to an acceptable stage of decentralization those rights will be sold to another development company.
The purchasing entity will obtain 80% of the cryptocurrency assets of the Futuratum foundation at time of sale. Of the remaining 20%, will be reserved for the initial team hires and the founders with no vesting schedule.
In addition, control of the Futuratum Foundation’s forging delegate pool servers and all source code and development rights of the Futuratum network will be handed over to the purchasing entity.
Of the final total sale price, 5% will be owned by the initial hires with the rest evenly distributed among the founders.