The Foundation
On Friday October 30th, the DRC Foundation website was launched; the landing place for all those invested into DRC — Digital Reserve Currency. Investment in this sense does not include only the monetary investment of purchasing $DRC token, but the investment of time and thought. DRC is designed to be a community-driven, organically grown SOV; the community has been tasked with governing it’s future.
Governance and Proposals
The DRC Foundation was created to establish a community-driven governance of the DRC ecosystem. No one has managerial control over the DRC network. Holders of DRC can create new proposals and vote on any changes to DRC and its ecosystem.
We believe this will make DRC a truly decentralized digital store of value. In order to facilitate a democratic approach, five (5) Community Representatives will be chosen by the DRC token holders on a regular basis for three-month terms. The inital term will be one-month in order to allow for any potential teething problems at this very early stage of development.
These representatives will participate in the regular Zoom video meetings to discuss the current state of the DRC ecosystem, DRC community concerns, and possible improvements. DRC Reps are in charge of the DRC Fund management and will publish monthly reports about spendings.
We believe that the most important decisions regarding the development of the DRC ecosystem should be made exclusively by DRC token holders. This will be done using DRC Foundation Snapshot and will serve as a decentralized approach when voting on proposals while ensuring each holder of DRC has a say in the ecosystem.
Fund
The DRC Foundation Fund was established to support the development of the DRC ecosystem. All the received contributions will be held in the secure multi-signature crypto wallet and will be used strictly for the purposes of supporting the DRC ecosystem growth. The usage of the funds will be fully transparent and disclosed to the DRC community members.
Moving Forward
The first steps were laid out in the DRC Q4 2020 Action Plan:
I. DRC Outreach — to spread awareness about the Digital Reserve Currency (DRC) globally, without explicit marketing or investment solicitation.
II. DRC Websites — upgrading the DRC official website and The DRC Foundation website.
III. DRC Governance Mechanism — The DRC ecosystem is controlled by the community, so an efficient governance mechanism is essential.
IV. DRC Token Improvements — Though the DRC token is fully developed and functional, adding extra functionalities will improve its value proposition and use case.
V. Uniswap DRC/ETH Liquidity Lock
Within two days of the release of the action plan, the updated DRC official and The DRC Foundation websites were deployed, the Snapshot governance proposal system was finalised and DRC/ETH Liquidity was locked through UniCrypt.
Applying the DRC Foundation Fund to proposals selected by the community will be the key vehicle for achieving points I and IV. Into November 2020, the Foundation’s discussions will have financial backing; these ideas can now be realised by the Foundation.
Going Global
The DRC community has already established Chinese, Russian and Spanish sub-communities. Speakers of these languages, combined with English, amount to over 2.1billion people worldwide. Translations of the websites are ongoing, the Chinese website translation already complete.
DRC‘s ethos is that global adoption is the key. Emerging societies whose economies suffer from a number of issues such as high inflation, draconian security laws, and restrictive cross-border trade are going to be a mainstay of the DRC ecosystem. DRC has no political affiliation, discriminates against no one and is designed to be a way to facilitate economic freedom for the most oppressed societies amongst us.
Further global community groups are currently in the works, including Nigeria, Egypt and Vietnam.
If you are a living in — or are a native of — a country that you feel needs its own community, and you are interested in being a part of the global future of DRC, please feel free to contact any of the Admins or Reps on our social channels with a short bio about yourself. Global representatives are paid through the DRC Foundation Fund for their efforts; all are welcome!
Further discussions can be found on the Discord page, the Telegram group and the DRC Twitter page.
