Evolving the XRP Ledger Foundation

By XRPL Foundation, XRPL Labs, XRPL Commons, and Ripple

A new chapter of collaboration within the XRP Ledger community is beginning. Organizations including XRPL Labs, XRPL Commons, the current XRPL Foundation, Ripple, and other prominent members of the XRP community came together recently to discuss how a more effective, inclusive, and visible XRP Ledger Foundation could be established, and what the road towards that looks like. Ongoing stewardship, democratic governance, contributions (both technical and non-technical), community and developer engagement and more are all central priorities to what a future foundation could enable, with the expertise and support of those who have long been involved in the XRP Ledger ecosystem.

The overarching goal of this new foundation is to provide long-term security, growth, and effective, decentralized contributions to the XRPL.

One of the most important near-term outcomes of these discussions is the decision to transfer existing XRPL Foundation key assets (listed below) to the new, independent foundation. This new foundation is set to feature a governance structure designed to represent the broader XRP Ledger community -- including developers, users, academia, validators, and infrastructure providers.

There is more to come, such as fully detailing the charter, governance and other specifics for the new era of the XRPL Foundation – but know that the contributors are working diligently to address these opportunities. This update marks just the beginning in our ongoing commitment to ensuring the XRPL Foundation meets the diverse needs of the entire XRP Ledger community.

As part of this process, the existing XRPL Foundation team has established a new Inclusive Financial Technology Foundation, paving the way for a future foundation entity to be incorporated. As announced separately, the existing XRPL Foundation team has created, and will focus its efforts on INFTF to serve a broader financial inclusion mandate (not specifically focused on XRPL) after transitioning the responsibilities of the XRP Ledger Foundation to new leadership. Best of luck to the team on their future endeavors and the community thanks you all for your dedication.

Building on a Solid Foundation

A new chapter for a XRPL Foundation is in progress. The organizations are looking to establish an initial board composed of several key members from the community: XRPL Labs, XRPL Commons, community representation (by, for example, a Community DAO), and Ripple - each bringing a wealth of experience from the XRP Ledger ecosystem to the mission, and working in unison to the larger goals. To ensure balanced governance and fresh perspectives, current discussions include adding an independent, democratically elected, rotating chairperson for the new foundation that will provide leadership.

Current discussions target three stages to ensure inclusivity and adequate representation across the community, but we expect this to continue to evolve:

Stage 1: Secure Asset Transfers & Establishing Operational Transparency

In this initial stage, our primary focus is to ensure the secure and orderly transfer of specific XRPL-related assets from the existing XRPL Foundation to the newly established foundation.

This transfer will only take place once the new foundation is fully prepared and equipped to manage these assets effectively. Until then, the assets will continue to be managed by the current XRPL Foundation.

The chart below outlines the specific assets held by the existing XRPL Foundation and details the planned steps for their transition to the new foundation.

To set a strong base, the new foundation aims to emphasize operational transparency, such as by creating committees dedicated to various topics including Memberships, Audit and Infrastructure, and regularly publicizing its activities with the broader community. This approach lays the groundwork for coordination across the community, helping to future-proof the XRP Ledger network itself.

The objective of the board composition for Stage 1 of the new foundation is to bring together a range of perspectives and expertise. This structure aims to foster collaboration and inclusivity, helping address the inherent complexity in capturing the interests of such a broad and diverse community. To further address this complexity, a community DAO that strives for equitable representation and participation across the community in a transparent, authentic and responsive way, is being evaluated.

Stage 2: Expand Community Representation and Operational Responsibilities

The second stage may see the foundation take on more operational duties, including creating a formal membership structure. By expanding the governance framework, the goal is to ensure that the foundation truly reflects the varied interests and expertise within the vibrant XRPL ecosystem.

This new foundation also aspires to broaden community representation. The longer-term plan aims to include new members from various sectors such as large ecosystem players, exchanges, or universities. Future board members should play an important role, having the authority to finalize the process and decision making of adding new participants. This process should be conducted in a transparent and inclusive manner to ensure that all stakeholders are fairly represented.

Stage 3: Explore New Initiatives and Expand Foundation Scope

As collectively agreed upon now, the third stage will involve exploring additional committees and potentially expanding the foundation's scope to include areas such as Research & Development (R&D) for the XRPL Protocol, a channel for Grant distribution, and Marketing & Communications. The aim of these initiatives would be to empower the foundation to support innovation and promote development on the XRPL network, all while maintaining a decentralized approach to governance and operations.

A key component of this transition is intended to expand grassroots participation and democratized governance. The objective is to continually broaden participation with formal membership, evolving alongside the community’s needs in ways that prioritize equity, expertise and efficiency of decision-making.

Looking Ahead

The changes that lay ahead offer a great opportunity for collaboration, innovation and shared responsibility. All parties involved are dedicated to creating a transparent and inclusive process that strengthens an expanding and thriving community.

More updates and details will be provided as soon as they solidify over the coming months.

To provide further insights and answer questions, a X/Twitter Spaces is planned with representatives from the aforementioned organizations (XRPL Commons, XRPL Labs, Ripple, etc) in the coming weeks. Stay tuned for more details shortly.