The Splyt Core Foundation is placing its funds in a smart contract called a Holocratic Autonomously Incentivized Kaizen Utility (“HAIKU”). With the HAIKU, Spl.yt token holders can work together to shape how the Foundation should be awarded for its efforts in real time, or even vote to terminate the project if the Foundation acts against their interests. We look forward to the highest level of transparency and collaboration with you through the HAIKU’s incentives, promoting our community’s growth and independence as we pursue decentralization together.
We believe decentralization means that there is no single entity in the middle of the system dictating it’s future. Unlike many other “decentralized” projects, we do not have any monetization features in the smart contracts we build, so everything will be build works at the lowest prices necessary to make the system successful without worrying about us taking a cut. As we move to fully decentralized decision making (see below), we hope to scale down our participation to the smallest amount possible, such as possibly running chat channels, researching ideas for the community, or maybe shutting our doors altogether! We chose not to assign equity rights to any shareholders so that we can achieve these goals without any conflicts of interest between profit-motivated backers and our ability to produce a truly decentralized protocol utility available to anyone with an internet connection.
When we say we aim for decentralization, we mean it. Our R&D team regularly interacts with the most prominent governance discussions throughout the blockchain ecosystem. We are testing methods to hand full control of the ecosystem’s operations and decision-making to the community. We already have methods for Token Curated Registries to resolve user disputes on the road map, and are working with existing community partners to build client Proof of Stake support for side-chain enforcement so the Spl.yt Core Protocol can scale under full user-control—just like Bitcoin or Ethereum