Everclear Foundation

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The Everclear Foundation is a Cayman Islands foundation company dedicated to supporting the Everclear ecosystem.

What does the Everclear Foundation do?

The Everclear Foundation, a shareholderless legal entity that is, by its constitutional documents, mission aligned with the Everclear ecosystem, takes any actions that it feels will benefit the Everclear ecosystem. These may include:

• Entering into agreements with partners and third parties for the benefit of the Everclear ecosystem.

• Owning and administering intellectual property rights on behalf of the Everclear ecosystem.

• Administering grants of CLEAR tokens to projects that will advance the Everclear ecosystem.

• Coordinating and funding research and development related to the Everclear ecosystem.

• Creating and administering the Everclear Governance Proposal (EGP) process - an open process by which Core Contributors and other community members can propose and discuss improvements to the Everclear protocol.

• Hosting and moderating a user interface for the DAO Governance Process.

• Providing transparency and reporting to the DAO on the efficacy of Core Contributor work to provide accountability for CLEAR resource allocation.

• Communicating updates about the protocol and DAO to the broader Everclear community.

• Promoting decentralization of the Everclear protocol.

How does the Foundation Work?

The Everclear Foundation is made up of a board of directors, officers, consultants, and service providers. The current directors of the Foundation are Glen Kennedy, Dino Mihalopoulos, and Arjun Bhuptani.

The Everclear Foundation was initially funded by an allocation of 10.8% of the supply of NEXT tokens and a grant from Proxima Labs (formerly known as Connext Labs), the original development company behind the Everclear protocol.