XRP Ledger Foundation: RippleX Dev Proposes Major Overhaul

9 months ago 52

ARTICLE AD

In a detailed proposal published on GitHub, David Fuelling, a developer at RippleX, has proposed a major governance overhaul for the XRP Ledger Foundation (XRPLF). This proposal marks a significant step in the evolution of XRPL’s governance structure, aiming to enhance community engagement and transparency.

XRP Ledger Foundation Overhaul: Overview

Fuelling’s proposal, titled “A Member Governed XRPL Foundation,” introduces a comprehensive framework for transforming the foundation into a community-driven entity. The proposal is built on several key aspects:

1. Formalized Membership Structure: The proposal suggests creating a more structured membership system as the cornerstone of authority and oversight over XRPLF. This system would clearly define membership eligibility, rights, and responsibilities.

2. Board Of Directors Election Process: A new mechanism for electing the Board of Directors is proposed. This aims to ensure that the board accurately represents the diverse interests of the community.

3. Membership Classes: Fuelling proposes three distinct membership classes: Individual, Corporate, and Sustaining, each with specific eligibility criteria and rights. For example, individual members can join by signing an agreement and paying a yearly fee of 75 XRP.

4. Enhanced Community Representation: The proposal emphasizes increased community representation in XRPLF’s decision-making processes, aiming for a more inclusive and fair organization.

5. Governance And Operational Transparency: A significant goal of the proposal is to bring clarity to the governance structure, thereby improving transparency and stakeholder engagement.

Fuelling’s Substack Clarification

In a Substack post, Fuelling provided an extensive clarification and rationale behind his proposal for a new governance structure for the XRP Ledger Foundation. He addressed several key aspects and concerns raised by the community.

Fuelling begins by addressing the ‘why’ behind his proposal. He states, “My primary motivation for the proposal is that over many years, I’ve observed some people in the community having strong dissatisfaction… related to a perception that their individual voice isn’t heard.” This observation led him to contemplate how the community could better adhere to principles of decentralization and democratic organization.

Fuelling emphasizes the pivotal role of foundation in the community, noting its involvement in various non-ledger, real-world concerns. “XRPLF owns and stewards important websites and the GitHub repo for a large amount of source code… XRPLF operates important infrastructure,” he explains. This underscores the foundation’s significance beyond the ledger, necessitating a more inclusive and democratic governance model.

He clarifies the nature of his proposal as a personal initiative, not a directive from Ripple. “This proposal is something I published personally as a community member — it’s not a proposal from Ripple,” Fuelling states. He further explains that the proposal is meant to build upon the existing structure of the foundation, introducing a clearer membership model and a sustainable donation system.

Responding to concerns about the proposed “Sustaining Member” class, Fuelling assures that it is not a means for entities to buy control but rather a way to enable sustainable funding for the foundation. “That membership class is meant to be an enabler of sustainable funding,” he explains, indicating openness to modifying or even removing this class based on community feedback.

In concluding, Fuelling poses a broader question about the role and purpose of foundation within the community. “What exactly is the purpose of the XRPL Foundation, and who should decide that purpose?” he asks, suggesting that the community should explore different governance models and potentially even consider creating a new non-profit entity that aligns with the principles laid out in his proposal.

Reaction From Ripple CTO David Schwartz

David Schwartz, the CTO of Ripple, acknowledged Fuelling’s initiative and the approach taken to involve the community. In his comment on X (formerly Twitter), Schwartz states, “Appreciate this public clarity from you, David Fuelling. David also shared his proposal with me as a courtesy beforehand, as he did with XRPLF, and the Foundation was receptive to the proposal.”

Schwartz emphasized the proposal’s role as a starting point for further discussion and refinement, underlining the importance of transparent and democratic governance in the ecosystem. ”As David said, this proposal is a ‘straw man’ designed to stimulate open dialogue and gather diverse suggestions. There’s no pressure to adopt it as-is; instead, it’s a starting point and opportunity for collaborative refinement and exploration,” Schwartz acknowledged.

At press time, XRP traded at $0.52535.