Today, the Tezos Foundation announces that its charter has been modified to improve the Foundation’s internal governance. It is now required that the Foundation have at least five council members at any given time, rather than three as was previously required.
The Foundation has also established a technical advisory committee, chaired by Tezos Foundation council member Michel Mauny, to advise the Foundation on technical matters. This committee will include external members from throughout the Tezos ecosystem and is primarily concerned with long-term technical strategy around research, development, and engineering tools.
Additionally, the Foundation announces that Olaf Carlson-Wee and Pascal Cléré have not presented themselves for re-election to its Council. Carlson-Wee prefers to no longer have a governance position at the Foundation and instead plans to become more heavily involved in the Tezos ecosystem in a commercial capacity. Cléré is moving on to pursue other business interests. Lily Liu, who has been an advisor to the Council since the end of 2018, will work more closely with the Foundation on strategic matters.
“We are thankful for both Olaf and Pascal’s support and guidance through the launch of the first ever Liquid Proof of Stake (LPoS) network. It has been an eventful and productive year for the Tezos network and ecosystem as it continues to grow, and we are grateful for the help of both Olaf and Pascal during these monumental first steps. We wish them all the best in their future endeavors.” says Ryan Jesperson, President of the Tezos Foundation.
“Though I will no longer sit on the Council, I remain an active community member and huge supporter of Tezos,” said Olaf Carlson-Wee, Founder of Polychain Capital. “Polychain is one of the largest tokenholders in the Tezos network and runs the largest staking node. We are excited to support the Tezos network in the coming months and years.”
The Tezos Foundation will have five council members with significant governance, financial, and industry-specific experience coming from a broad set of industries. The Foundation will consider adding additional capabilities to its Council when opportune.
Throughout the first quarter of 2019, the Tezos ecosystem has seen accelerating progress and growth. Tezos is receiving increased recognition for its Liquid Proof of Stake (LPoS) consensus algorithm, which allows all stakeholders to participate in securing the network. In February, the first proposals, submitted by Nomadic Labs, to amend the Tezos mainnet via the Tezos governance mechanism were proposed. The Foundation also filed its 2017 statutory audit report with the Swiss Federal Supervisory Authority for Foundations, and is continuing to work with PwC, its independent external auditor, on the 2018 audit.
The Tezos Foundation’s core mission is to support the long-term success of the Tezos protocol and ecosystem. Through its various strategic efforts, the Foundation positions itself to more effectively achieve this goal. The Foundation is inspired by the achievements of the Tezos community over the past year and looks forward to further supporting the ecosystem to continue to advance the Tezos project.