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<h1> Governance </h1> | ||
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<h2>Table of Contents</h2> | ||
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- [Introduction](#introduction) | ||
- [Project History](#project-history) | ||
- [Type of Token](#type-of-token) | ||
- [Use of Funds](#use-of-funds) | ||
- [Organic Growth](#organic-growth) | ||
- [Genesis Pool](#genesis-pool) | ||
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*** | ||
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## Introduction | ||
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We introduce the governance of ThreeFold and give some context around ThreeFold in general. | ||
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## Project History | ||
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The project is grateful of the support of its community and of the commercial entity TFTech. | ||
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ThreeFold is fundamentally a decentralized initiative. Within this framework, ThreeFold Dubai plays a pivotal role in championing and advancing the ThreeFold Grid and the broader movement. | ||
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Our founders have largely retained their tokens, with only minimal sales, if any. Their intent is clear: they plan to hold onto their tokens until the grid achieves global recognition and the token value surpasses 0.2 USD. | ||
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Some people have claimed that some ThreeFold founders sold tokens and dumped the price, this is not true and can be verified using our blockchain. The ThreeFold founders have invested millions of USD in the project so far. Lots of our team work on reduced salary, some even without any salary. | ||
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## Type of Token | ||
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The regulators and legal advisors believe that we are a payment token with some flavor of a utility token (hybrid). | ||
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We conducted research and obtained legal counsel in multiple jurisdictions: | ||
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- Switzerland | ||
- Belgium | ||
- Dubai | ||
- Singapore | ||
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For more information, [read the legal opinions](https://drive.google.com/file/d/1kNu2cFjMkgqdadrOOQTTC5FPAM4OgKEb/view?usp=drive_link). | ||
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## Use of Funds | ||
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We have different tools and features to make sure that all our funds are used properly, such as multi-signature wallets, the [ThreeFold DAO](./dao/tfdao.md) and the [ThreeFold Forum](https://forum.threefold.io/). | ||
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## Organic Growth | ||
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As a group, we have invested more than 10m USD in cash and time. | ||
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We never organized a pump and dump or any other synthetic mechanism to boost the token price and benefit from this. We believe in organic growth and the TFT going up as result of utilization and expansion. | ||
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## Genesis Pool | ||
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The Genesis pool was based on real hardware located in Dubai and Ghent. | ||
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The tokens out of this pool are safe and well managed. We are acquiring a lot of them with ThreeFold Cloud (ThreeFold Dubai). | ||
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For more information on the Genesis pool, [read this section](./genesis_pool.md). | ||
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