Overview

What is the Foundation and it's Mandate

Foundation

The Layer1 Foundation serves a role not unlike a gardener. It sets the groundwork and provides conditions conducive to growth. In this case, however, the growth is not of flora, but meta-protocols, their infrastructure, indexers, and the technology that underpins it.

The Foundation does not prescribe the specific direction of each standard or protocol, but instead provides a nurturing environment where they can grow and mature organically. The aim is to establish a broad consensus for brc-20 before extending its support to other Bitcoin standards and protocols.

As part of a sprawling network of organizations and individuals, the Layer1 Foundation is working towards the realization of a decentralized economy built on Bitcoin. Its primary functions are to facilitate the early development of protocol standard governance on Bitcoin, to lend development support via a formal legal entity, and to foster a link between indexing and governance. The intent is to create a diverse pool of indexers capable of independent verification, thereby promoting efficient updates to the standard.

Through the Foundation, proposals for updates can be submitted, and their implementation can be verified publicly. The Foundation also serves as a platform for the proposal of new standards and modules, driving ecosystem growth.

Mandate

The Foundation's mandate is to implement a governance and standard maintenance structure that is most likely to maintain the existing social consensus, while allowing for necessary updates and encouraging ecosystem growth. Like a diligent gardener, the Layer1 Foundation aims to ensure the flourishing of independent standards, each contributing uniquely to the Bitcoin ecosystem.