Structure

Foundation's development and security structure

The challanges faced with brc-20 are not unique and can apply to many other metaprocols on bitcoin. For this reason a generalized structure is proposed, with the intention of expansion beyond brc-20 to other standards when/where appropriate. For protocol evolution, there are two primary mediums maintained by the foundation, discourse and development. The foundation treasury will be managed internally by the founding committee.

Discourse

The Layer1 Foundation Forum is a dedicated platform for the metaprotocol community, where enthusiasts, developers, and contributors can come together to discuss and collaborate on the evolution of Bitcoin protocols, initially for brc-20 and it's related technical challenges. In essence, the Layer1 Foundation Forum is an online space where your insights are valued and your contributions significantly impact the Bitcoin ecosystem.

Development

Development of standards will follow a BIP style approach. There will be open source repositories that developers can submit pull requests to. Core maintainers will be responsible for the final decision of what gets integrated into the core protocols. Maintainers will consist of trusted contributors to the standards development. It is integral to have a balanced initial group to maintain consensus across counterparties, but move quickly on standards.

Treasury

Initial structure will consist of a parent multi-sig for deployment with development partners holding control around updates. Initial governance will be limited to the L1F standard committee with potential to move to a more robust solution such as Optimism or Arbitrum as the foundation matures.

Grants and capital will be distributed to developers and maintainers doing the work. This will be assessed via proposals and PRs that get accepted. Funds will flow to an additional multisig on-chain after a workgroup or proposal is formed.