The 100% Pledge: Fund Independent Journalism With Our Token Sale
We are excited to announce that 100% of net proceeds received in our upcoming CVL token sale will go to the Civil Foundation to fuel grants for worthy journalism projects, with direct input and ongoing involvement from CVL token holders.
The Civil Foundation is the independent, non-profit organization led by former NPR CEO Vivian Schiller that will work with the community to uphold and advance Civil’s new standard for journalism, and provide grants within the Civil ecosystem, especially difficult-to-fund projects and under-represented voices in the current media landscape. The CVL token sale starts September 18.
This means that the Civil Foundation will be capitalized from the start, and ready to begin grant-making in earnest.
Specifically, the Civil Foundation will focus on three core pillars:
- Grant-Making. The Civil Foundation will oversee a multi-million dollar grant fund that will initially come from the CVL token sale. Grants will be made to worthy recipients to help expand the quality, breadth and diversity of journalism on Civil. The Civil Foundation will build on existing initiatives with global journalism organizations like the European Journalism Centre and the many journalism schools we’re partnered with, and will work closely with the community to ensure that they have a voice in the grant allocation process.
- Governance. Civil will be governed by a global network of committed journalists and citizens. The Civil Foundation will work closely with this larger community to ensure that, as Civil grows and evolves, it will remain rooted in its commitment to supporting ethical journalism above all else. The Civil Foundation will also house the Civil Council, a diverse group of veteran journalists, journalism scholars and free speech experts from around the world. They will hear community appeals when a popular vote is appealed for not being in the spirit of the Civil Constitution. Think of the Civil Council as a critical hedge against a billionaire, corporation or government attempting to exert undue influence over the network. Anybody in the community, even if they appear outnumbered in a popular vote, can launch an appeal to the Civil Council. Their job is to ensure that Civil’s governance follows the framework outlined in the Civil Constitution, and they can reverse the outcome of popular votes when they find that’s not the case.
- Research. Civil is not trying to reinvent journalism ethics. It’s a battle-tested and ever evolving set of standards that has been proven out over centuries. Civil is trying to reinvent the incentive system that rewards those who adhere to journalistic ethics. The Civil Foundation will exist as the industry’s first blockchain-focused media think tank, and will produce research around key initiatives like newsroom sustainability, reader engagement and unlocking new revenue streams and value creation between journalists and their supporters.
Separately, there’s The Civil Media Company, a for-profit, venture-backed blockchain tech company that will build and monetize enterprise and self-service software for newsrooms on Civil and the ecosystem overall. We will only make money sustainably if we continue to offer best-in-class services to newsrooms, journalists, communities and citizens on Civil.
You are likely reading this for one reason: to support the future of journalism. So here’s what matters most about this latest update. One-hundred percent of your cash contributions to the CVL token sale will go to the Civil Foundation, supporting hundreds of independently owned and operated newsrooms around the world.
If you’re ready to join this movement, register for the CVL token sale at Token Foundry. If you have any questions, don’t hesitate to ask for help at support@civil.co.
Please help us spread the word. This radical experiment is nearly underway and we could use all the support we can get. Thank you!
