RIP-000-020: Ren Foundation Domicile

Name: Ren Foundation Domicile
Category: Legal
Status : Proposed
Scope: Set up a Cayman or Panama foundation with operating subsidiaries in the BVI.

Overview

In light of RIP-000-018’s mandate to establish a Ren Foundation and, at the time of writing, unanimous consent in RFC-000-049 to structure it as a Cayman Foundation with operating subsidiaries in the BVI, a vote is put up to formally decide the legal structure and provide the working group its requested budget of $65k USD equivalent to incorporate it.

Background

For background and discussion on legal structures for the Ren Foundation:

Details

The proposal is that the Ren Foundation be established as either a Cayman or Panama foundation with operating subsidiaries in the BVI. Three options are presented:

A) Cayman
B) Panama
C) Reject

(A) and (B) include a grant of $65k USD equivalent as requested by the working group to finance the incorporation. All remaining funds will be returned to the Community Fund or sent to the Ren Foundation.

The winning vote may have less than 50% of voting power.

Implementation

  • Vote here: Snapshot
  • If approved, the working group will oversee implementation but will not necessarily manage any legal entities that may be created.
  • If approved, the working group will also facilitate informal discussions in Discord for potential incorporation matters.

Voting link

Snapshot: Snapshot