Initial Setup and Project Incubation
Vision and Initiation:
The GreenYield non-profit Foundation conceived the GreenYield project with the core aim of democratizing ownership in hosted renewables infrastructure. This involved defining the project's goals, scope, and the underlying principles of shared ownership and the co-op member governed organisation.
Infrastructure Development:
Infrastructure Development: The GreenYield non-profit Foundation initiated the initial development of the GreenYield project's plans. Included defining the platform for fractional ownership, the mechanisms for managing and operating the renewable energy assets, securing land-rights and preparing the legal organisation setup.
Legal and Regulatory Framework:
Establishing the legal structure for both the GY non-profit Foundation and the GY DAO (and their legal cores) was a core early step. This involved navigating regulations related to identification of Italy as the ideal starting location of the first build, negotiations of permissions etc.
Community Building:
The GreenYield Foundation actioned via its member governance the initial specification of the tokens to be launched by the GreenYield DAO. These consist (see the /Tokenomics section) definition of the GreenYield DAO's utility token $GreenYield and its member tokens §GYMember. This process was vital for bootstrapping the GY DAO and incentivizing early participation.
Partnerships and Infrastructure Acquisition:
The foundation initiated early partnerships with renewable energy infrastructure providers and handled the initial acquisition or hosting of renewable energy permissions, land and assets (ie. Solar panels) that will be fractionalized by the GY DAO through the platform.
Transition to Decentralized Governance (GreenYield DAO)
DAO Establishment:
The GreenYield non-profit Foundation's primary long-term goal is facilitate the transition to full member-governance to the GreenYield DAO. This involves defining the DAO's charter, structure, governance processes (e.g., voting mechanisms, proposal systems), and the rights and responsibilities of token holders.
Smart Contract Deployment and Auditing:
Ensuring the security and transparency of the GreenYield DAO's operations is paramount. The foundation oversee the development, deployment, and rigorous auditing of the smart contracts that govern the DAO's treasury, voting, and asset management.
Gradual Decentralization:
The GreenYield non-profit Foundation has adopted a strategy – similar to prior best practice examples of decentralized member owned and governend projects of gradual decentralization. Initially, it retains a level of oversight to ensure stability and guiding the project's development. Over time, the aim is to progressively transfer decision-making power to the GreenYield DAO and its token holders.
Providing Resources and Guidance:
The GreenYield non-profit Foundation will continue to provide resources, expertise, and guidance to the GY DAO and the broader community. This will primarily involve protecting the GreenYield “Brand” and core “raison d’etre” as expressed in the Foundation Charter, while supporting technical development, fostering community engagement, and promoting the adoption of the GreenYield platform.
Ongoing responsibility of the Foundation
Ecosystem Development:
The non-profit GY Foundation will, via its advisory panels, focus on fostering the growth of the GreenYield ecosystem by supporting new projects, integrations, and use cases for the fractionalized hosted renewable energy ownership model.
Research and Development:
The foundation will dedicate resources to researching new technologies taking GreenYield from the initial focus on Solar to other renewables emerging technologies, governance models, or sustainable finance mechanisms that could benefit the GreenYield project.
Advocacy and Education:
The foundation will play a role in advocating for policies that support decentralized co-owned renewable energy and educating the public about the benefits of the GreenYield model.
Stewardship of Core Assets:
Similar to similar DAO projets, the Foundation plays a role in safeguarding key intangible assets for the community, and The GreenYield non-profit Foundation will retain some stewardship over critical intellectual property and foundational elements of the GreenYield project to ensure its long-term sustainability.