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EOS Network Ventures (ENV)
EOS Network Ventures (ENV)

EOS Network Ventures is a venture capital fund whose mission is to attract capital and deploy it for the benefit of the EOS Network

Dario Cesaro avatar
Written by Dario Cesaro
Updated over a year ago

1.0 What is EOS Network Ventures?

EOS Network Ventures (ENV) has been proposed to make a profit out of the investments in the EOS blockchain. ENV will avail capital through strategic equity and token to the businesses and entrepreneurs who are captivated to develop products in the Web3 space using the EOS blockchain. The ENV could provide funding to products from many sectors including GameFi, metaverse, eSports, NFTs, DAOs, dApps, and FinTech.

EOS stakeholders recently created the groundwork for the creation of ENV through a multi-sig proposal; however, it is not yet officially recognized.

2.0 Establishing EOS Network Ventures

Following a few conversations at an EOS fireside chat, Yves La Rose, CEO of the EOS Network Foundation (ENF), created an on-chain multi-sig proposal with the document "ENV Fund" on November 7, 2022, to form an account called eosio.fund and to issue 68,277,906.6222 EOS to the newly created account.

On November 9, the proposal passed with a 15/21 EOS block producer consensus which confirmed the intention of the network to enable the new funding mechanism and eosio.fund came into existence with a balance of 68M EOS.

3.0 Organization Chart of ENV

The ENV does not formally exist yet. It is still not a legal entity. However, notable blockchain professionals and major funds have shown their interest. Soon, the organization chart will be finalized and publicly announced.

4.0 Why is ENV being launched as an independent entity?

The ENF is a community-led, not-for-profit organization that coordinates public goods funding and non-financial support to businesses, developers, and individuals acting on the EOS blockchain, a thriving ecosystem for worldwide adoption. Its purpose is not to finance the network and make money from it. The ENV is being proposed to fill that gap. Therefore, the ENF and the ENV are independent yet complementary.

5.0 What is EOS Fund Management (EFM)?

The EOS Fund Management will be the custodian of the EOS treasury, acting as ENV’s Limited Partner (LP). A number of industry professionals and community members were selected based on their creditable industry experience and trusted reputation within the EOS Community as administrators of the eosio.fund account. They have signing authority on the multi-sig of EFM.

The following accounts have signing authority on multisig of EFM:

  • atticlabeosb: Attic Lab is a leading blockchain software development and fintech expert. They have developed a multichain staking service platform known as Everstake. Everstake has 625000+ unique users and 6.2 billion dollars staked digital assets.

  • aus1genereos: Genereos is a leading blockchain infrastructure and decentralized application-building agency based in Australia. The team has created a staking platform known as GenPool where 57+ million EOS staked.

  • big.one: BigOne is a secure, reliable, and user-friendly multi-asset cryptocurrency trading platform.

  • hashfineosio: HashFin is a convenient, stable, and safe cryptocurrency service platform focusing on POS, DPOS, and other PoS-related consensus mechanisms.

  • larosenonaka: Yves La Rose is the founder & CEO of EOS Nation and Executive Director of EOS Network Foundation. He is a passionate cryptocurrency technocraft who is charting EOS for mass adoption.

  • msig1efmtony: Tony Tsao has been involved with the EOS Network since its genesis, originally with the Japan EOS Developer Association (JEDA) block producer.

  • winston1efm1: Wen Huaqiang (Winston) is a member of the ENF advisory board. He is a veteran developer and initiator of developer-friendly CryptoKyline Testnet and user-friendly infrastructure for DAPP operations BOSCore.

The EFM will not be the only LP of the ENV, other General Partners and Limited Partners will join the initiative as the ENV becomes a legal entity. The primary goal of bringing external entities as LPs is injecting external capital into the EOS Network.

6.0 ENV within the EOS Ecosystem

High-level relationship of ENV with other entities within the EOS ecosystem is exhibited in the figure given below:

EOS Network Ventures within EOS Ecosystem.

The figure also displays the consensus-reaching protocol of ENV.

7.0 Vision of ENV

"The vision of ENV is to attract external funds and economic growth of the EOS ecosystem".

The Profits earned by EFM can be invested in the initiatives such as buyback and burn that benefit the EOS Community as a whole. Projects that don't utilize EOS, including those that use Antelope Technology outside of EOS, won't be taken into consideration. Before making any final decisions, it will be possible to think of alternative economic benefits.

8.0 How does the ENV provide accountability to token holders?

Although ENF won't directly influence ENV's decisions, ENV's operations will be just as open as ENF's. As a measure of openness, EFM will monitor the ENV fund carefully and provide quarterly updates.

Author: Sukanta Manna

Editor(s): Markus Hinrichs

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