$STORE Community Update — February 2022
Project updates surrounding the Foundation, Product, and Research
As a global community and team, we hope everyone is safe in these uncertain times.
The first two months of 2022 has been an intense period of development and expansion as we move towards a decision of where to locate the STORE Foundation and advance tooling in STORE governance, Cloud, and Chain. March is shaping up as a massive month for the project, but first let’s take a deeper look into what we accomplished in February.
Heading Toward the Finishing Line
Launching the STORE Foundation goes to the core of decentralization: Wallets and miners can be dispersed globally; but banking and foundations are governed by centralized authorities. It doesn’t matter if your code is decentralized if governance is centralized.
STORE is now framing the process to transition STORE out of the US. Our due diligence with legal and tax experts to set up a foundation outside of the US concluded another round of analysis and objectives are now being put into place. Switzerland continues to serve as the basis, with Liechtenstein serving as a Plan B and the target of selecting a location by March 31st is on schedule.
Product development advanced nicely in February, with the Store Governance app, Store Cloud, and Store Chain all making significant development strides. While each project operates at its own pace and set of goals, our engineering department has been able to build both the internal infrastructure to scale development, along with the tooling itself.
We’ve made great advances on tooling built for BFT, staking economics, APIs, and governance. Each of these areas are introducing innovative ideas and products to the market, so they require substantive consideration. We are very excited to share the developments made in each area over the coming weeks.
Wrapping Up Research
STORE’s research on governance and economics is both being finalized and shifting forward. Our research on how governance systems function, both inside and outside of crypto, is closing in on third party review before being published, while innovative work on economics is generating new models.
Our team is focused and moving forward. We will be publishing a STATE of STORE, a comprehensive document that recaps the project status to this point and marks the next phase of STORE’s initiatives. Once published, it will set off a chain reaction of internal and external processes across engineering, legal, and research.