Ellcrys is now a Public Benefit Corporation

As we move closer to the Pre-sale event, a lot of things have been going on with the Ellcrys project. One of the most important issue, is structuring the Ellcrys organization in such a way that we are able and obligated to fulfil our mission to build the first source-level DAO platform and also pursue for-profit ventures under the same organization.

Today, We are pleased to announce that Ellcrys is now a Public Benefit Corporation registered in Delaware. The purpose of Ellcrys PBC is to ensure the continuous development, management and growth of the Ellcrys blockchain and ecosystem.

As a PBC, we can effectively grow the Ellcrys blockchain and build future for-profit services designed to provide value to the ecosystem. An example of such for-profit service would be a PaaS for executing web services created by DAOs.

As a project conceived by Nigerians, we have faced a lot of discriminatory remarks and actions due to the fraudulent actions of a few people and as such we are working really hard to ensure we eliminate the uncertainties by taking necessary steps that will promote trust and guarantee success. Ellcrys PBC is a major part of this step.

While the ICO is currently being managed by our current company (Crowd Effect LTD), assets belonging to the Ellcrys project and the proceeds from the token sale will be transferred to Ellcrys PBC after ICO. Crowd Effect LTD will be acquired by Ellcrys PBC.

Next step will be to open a U.S office and create more diversity in our team. We are excited!