The Everscale Foundation, an independent non-profit organization based in Switzerland, was established. The organization was founded by members of the Everscale community to strengthen the Everscale Network’s ecosystem offerings, increase the size of its community, and attract new talent.
Last year, leading Asian blockchain network Everscale activated its long-awaited DAO governance protocol. The result of this activation was the complete decentralization of network management, with community members now able to participate on an equal footing and initiate significant changes to the network. One of the most momentous results of enabling the DAO was a vote held late in the year proposing the creation of a nonprofit Everscale Foundation tasked with driving community growth, integrating new platforms into the network’s ecosystem, and identify and onboard new development talent.
This foundation, now called the Everscale Foundation, has now been officially established and registered as a non-profit organization in Zug, Switzerland. Given the decentralized nature of the network, the foundation will now assume the critical role of Everscale representation, serving as the evangelistic entity, reference point, and facilitator between the network and the global community.
Identification and onboarding of promising companies and individuals
Now that it’s operational, the Everscale network will streamline the process for businesses and individuals who want to contribute to the network and leverage its technology. The Everscale DAO-authorized foundation will work to identify projects and individuals capable of adding value to the network’s ecosystem and provide support as they go through each phase of the onboarding and development process.
Cooperation with governments and high-load projects
Given Everscale’s unique technical capabilities, the network has emerged as one of the best solutions for governments and large corporations looking to integrate blockchain technology into their working models. Everscale can scale to any network load, regardless of size, without impacting transaction times or processing fees. This gives it a huge advantage over other networks for companies looking to launch CBDCs and other massive projects. The Everscale Foundation will focus on identifying projects that can benefit from the network’s offerings and will officially enroll those projects.
Everscale media partnerships, marketing campaigns and evangelism
In addition to expanding the ecosystem, the foundation will also be the driving force behind efforts to increase Everscale’s global profile. Within the foundation there will be a press house which will be a direct contact point between the network and external media and will also work to publicize the network and increase its information accessibility. Thanks to the foundation, Everscale will host more of its own events and participate in blockchain-related events around the world.
Although authorized by the Everscale DAO, the foundation is still an independent entity that has no control over the network. In keeping with its decentralized philosophy, Everscale has delegated key responsibilities to the organization while allowing the community an important say in the development of the network. Grants and governance decisions are still determined by voting in the network’s DAO.
When asked for comment, Everscale Foundation’s Marcelo Garcia added, “Everscale has undeniable potential to break into the top tier of blockchains by market cap. The establishment of the Everscale Foundation is a major step in the development of the network, both internally and externally. External parties now have a concrete opportunity to contact, learn about and collaborate with the network and its various projects. We also can’t wait to increase our presence at conferences, events and in the media. With all the goals Everscale has already achieved, it is high time that it was recognized globally as one of the most dynamic and promising blockchains out there.”
About EverscaleEverscale is the most technologically advanced blockchain in existence. Powered by an infinite sharding mechanism, Everscale adapts to any workload it is tasked with, without the size of the load impacting transaction times or processing fees. This makes it the ideal blockchain for hosting CBDCs and other load-intensive projects.
Over the past two years, Everscale has grown into one of the largest blockchains in Asia, with a thriving community and a robust ecosystem of DeFi platforms. The network is currently running an Indonesian campaign where it will integrate with the Indonesian economy and open new doors to the world of DeFi and cryptocurrency for Indonesians.