XRP Ledger Foundation Overhaul: Overview
A developer at RippleX, David Fuelling, has proposed a major governance overhaul for the XRP Ledger Foundation (XRPLF) in a detailed proposal published on GitHub. The proposal aims to enhance community engagement and transparency by transforming the foundation into a community-driven entity.
1. Formalized Membership Structure: The proposal suggests creating a structured membership system to define membership eligibility, rights, and responsibilities.
2. Board Of Directors Election Process: A new mechanism for electing the Board of Directors is proposed to accurately represent the diverse interests of the community.
3. Membership Classes: Fuelling proposes three distinct membership classes with specific eligibility criteria and rights.
4. Enhanced Community Representation: The proposal emphasizes increased community representation in decision-making processes.
5. Governance And Operational Transparency: The proposal aims to improve transparency and stakeholder engagement by bringing clarity to the governance structure.
Fuelling’s Substack Clarification
In a Substack post, Fuelling provides clarification and rationale behind his proposal for a new governance structure for XRPLF. He addresses concerns raised by the community and explains his motivation for the proposal.
Fuelling highlights the foundation’s involvement in non-ledger concerns and emphasizes the need for a more inclusive and democratic governance model. He clarifies that the proposal is his personal initiative and not from Ripple, aiming to introduce a clearer membership model and sustainable donation system.
Fuelling assures that the proposed “Sustaining Member” class is not about buying control but enabling sustainable funding. He invites community feedback and suggests exploring different governance models or creating a new non-profit entity aligned with his proposal’s principles.
Reaction From Ripple CTO David Schwartz
Ripple CTO David Schwartz acknowledges Fuelling’s initiative and the approach taken to involve the community. He sees the proposal as a starting point for discussion and refinement, emphasizing transparent and democratic governance in the ecosystem.
At press time, XRP traded at $0.52535.
Hot Take: Proposing a Community-Driven Governance for XRPLF
A developer at RippleX, David Fuelling, has put forth a comprehensive proposal to overhaul the governance of the XRP Ledger Foundation (XRPLF). The proposal aims to enhance community engagement and transparency by transforming the foundation into a community-driven entity. Fuelling suggests formalizing membership structure, introducing a new election process for the Board of Directors, and enhancing community representation in decision-making processes. The proposal also emphasizes governance and operational transparency. In his Substack post, Fuelling clarifies his motivation for the proposal, addresses concerns raised by the community, and highlights the foundation’s significance beyond the ledger. Ripple CTO David Schwartz acknowledges Fuelling’s initiative and encourages open dialogue for collaborative refinement of the proposal. This proposal marks an important step towards decentralization and democratic organization within XRPLF.
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