Foundation
Last updated
Last updated
The Star Atlas Foundation is an organization created to serve the Star Atlas DAO (Decentralized Autonomous Organization) by helping it turn decisions made by DAO members into actions in the real world. Think of the Foundation as the âhandsâ that bring the DAOâs plans to life, especially when those plans require legal action or interaction with off-chain (non-blockchain) services.
The Star Atlas DAO is a decentralized system where POLIS token holders vote on major decisions related to developing, managing, and growing the Star Atlas ecosystem. However, the DAO itself isnât a legal entity, which means it canât do things like sign contracts or hold assets directly. Thatâs where the Foundation comes in. The Foundation can legally represent the DAO, acting as its agent to sign contracts, manage intellectual property, and engage with external partners on behalf of the DAO. Without the Foundation, many of the DAOâs plans couldnât be put into action in the real world.
The Foundation is established as an independent foundation company limited by guarantee, based in the Cayman Islands (registered as #393854). Its structure ensures that it operates without shareholders and focuses only on supporting the DAO.
The Foundationâs , a governing document, sets out its objectives, which include:
Supporting Star Atlas: Helping fund and support research, development, and projects that make Star Atlas better.
Promoting Star Atlas: Educating the public about Star Atlas and encouraging growth in its community and ecosystem.
Managing Digital Assets: The Foundation can issue, receive, spend, and hold digital assets needed to support the DAOâs objectives.
Building Partnerships: Engaging with partners, businesses, and authorities to help Star Atlas succeed.
Reviewing Proposals: The Foundation reviews PIPs (POLIS Improvement Proposals) passed to it by the Council to ensure theyâre safe, legal, and beneficial to the ecosystem. If a PIP has significant risks, is missing information, or could harm Star Atlas, the Foundation has the authority to refuse it, but it must explain its reasoning to the DAO and the PIPâs author.
Implementing PIPs: If a PIP is approved by the DAO and safe to implement, the Foundationâs job is to put it into action, especially if it requires off-chain steps, like signing contracts.
Managing DAO Funds: The Foundation holds the keys to multisig wallets, which are like extra-secure safes, where the DAOâs funds are stored. It can only access or spend these funds after the DAO approves the expenditure through on-chain voting.
Maintaining Governance Tools: The Foundation supports and updates the communication platforms, like the Star Atlas DAOâs website and Discord, to ensure DAO members can share ideas, discuss proposals, and vote on decisions.
Delegating Tasks: The Foundation can also hire or partner with third parties to help it carry out DAO-approved actions efficiently.
The Foundation is strictly limited to carrying out the will of the DAO. It:
Canât bypass the DAO or make independent decisions. It follows DAO orders and implements approved PIPs only.
Canât control DAO funds independently. Funds are only disbursed according to DAO voting.
Canât change its own rules without the DAOâs knowledge. Any amendments to the Foundationâs governing documents require notifying the DAO through an Informational PIP.
The Foundation is neither the Star Atlas DAO nor the Star Atlas Council (a group that advises on proposals). Instead, it acts as the DAOâs agent for specific tasks, stepping in when legal or real-world actions are required. For instance, while the DAO decides whatâs best for the Star Atlas ecosystem, the Foundation might sign a contract to get the job done.
In short, the Star Atlas Foundation is the bridge between the DAOâs ideas and the practical steps required to make them happen in the world outside the blockchain. It exists to empower the DAO, follow its guidance, and ensure that Star Atlas grows and operates smoothly and safely.
The Foundationâs Memorandum of Association is a governing document that sets out the objectives of the Star Atlas Foundatioj.
See the Referencessection for the source material for all of the above.