Ripple’s backed developer group, RippleX, has unveiled XRPL Foundation 2.0. This new outfit aims to promote enhanced collaboration between community members. Organizations including Ripple, XRPL Commons, XRPL Labs, and XAO DAO have joined forces to launch the new XRPL Foundation.
The XRPL Foundation is a nonprofit organization that supports the XRP Ledger (XRPL), an open-source distributed ledger. Its sole purpose is to promote a secure, inclusive, and thriving XRPL community.
In August, CNF reported that the Foundation would transition into a new organization to promote decentralized financial services on multiple ledgers. This announcement caused confusion within the community, with concerns raised about potential centralization.
Ripple has provided a detailed explanation of the new Foundation, its mandate, governance, and structure. The new XRPL Foundation filed incorporation documents in France on November 26, 2024. It will operate under French laws, with conflicts resolved exclusively by the Paris Court of Appeals.
The new XRPL Foundation, in collaboration with XRPL Labs, Ripple, XRPL Commons, and XAO DAO, is now officially incorporated. For more information on the Foundation’s governance, objectives, and how to get involved in the future, please visit: [insert link]
The objective of the new XRPL Foundation is to promote and facilitate a secure, resilient, inclusive, and thriving XRPL community. This will empower users and developers to confidently build decentralized applications, financial tools, and infrastructure.
To achieve its purpose and objectives, the Foundation will focus on core areas such as enhancing the security and stability of XRPL. This includes promoting XPL technology adoption, establishing transparent governance structures, and forming strategic partnerships to expand the community.
Additionally, the Foundation will educate the community, support sustainable development practices, protect XRPL’s intellectual property, and engage in regulatory advocacy.
The Foundation will measure its success based on various indicators, including the establishment of new partnerships, increased developer engagement, regulatory advancements, community adoption rates, and membership growth.
In terms of governance, XRPL Commons, XRPL Labs, Ripple, and XAO DAO will continue to play important roles on the Board of Directors. Their involvement is crucial to the strong governance structure of the new Foundation.
The Board of Directors will consist of the four core Founding Members and rotating Directors selected based on their expertise and elected by a majority vote of the Founding Members.
The Board will appoint a President, Secretary, and Treasurer for two-year terms, with the President being a Founding Member. The Board holds primary decision-making authority.
However, a General Assembly will serve as a democratic forum where Associate Members can provide advisory input on strategic decisions.
The Board will make key decisions regarding strategic direction, budget plans, membership criteria, and major organizational changes, while the General Assembly will ensure a broad community perspective is considered in these decisions.