STORE is Web3 cloud computing, governed by decentralized democracy. $STORE is the unit of account on the STORE protocol.
Our team pushed hard through December and accomplished a number of our goals despite the holidays. Read below the break for information surrounding the Store international foundation, research efforts, and engineering focus.
Throughout the month our team gained more clarity on Liechtenstein as an option for Store’s international foundation through conversations with attorneys and other experts. There is still work to be done before we have a clear picture of whether Store’s governance can reside there.
We’re starting to invest a sizeable amount into Liechtenstein (while continuing to invest into Switzerland) and are taking it seriously as a Plan B for the Store Foundation. We are setting a deadline for ourselves of 3/31/22 to determine Switzerland’s viability. If we aren’t making traction by this date we’ll put all efforts into Liechtenstein, knowing we’ve already created the path needed to succeed.
Our team is finalizing research on how a governance DAO could provide checks and balances for the Store Foundation while a third branch is responsible for executing governance, operations, and growth of the protocol itself.
Development on Store’s Governance app tooling that interacts with the Store Cloud made giant strides this month. The tooling enables staked voters to sign messages for voting, supports checks and balances based voting, and generally solves all goals for Store’s Second Governance. There’s lots of building and research happening around the Store project right now, but it’s the governance piece that is the most critical as it will represent the first utility of the Store incentivized test network.
As the Store Cloud moves into the specification stage and we prepare for the first phase of engineering analysis, the main focus of this month was expanding our development capacity. Our team is currently onboarding three key hires, one project manager and two engineers, who will specialize in building out smart contracts.
Additionally, we formalized the relationship and timeline with our infrastructure partner for the Store Cloud tooling.
Thanks to everyone for the support you have shown the Store project in 2021. We look forward to continuing this journey alongside you in 2022!