STORE is Web3 cloud computing, governed by decentralized democracy. $STORE is the unit of account on the STORE protocol.
With the first quarter of 2022 coming to a close, the STORE team had some major decisions to make, headlined by deciding where to host the upcoming Foundation, while continuing to make strides in engineering and overall project transparency. Read below the break to see what our team was up to during the month of March.
The STORE team is thrilled to announce that Liechtenstein will be the home of the future international Foundation.
For the last several months, our team has been hard at work determining the best location to host the Foundation. We quickly narrowed the list of options down to two, Liechtenstein and Switzerland, and had been conducting thorough review and due diligence before making the final selection.
When deciding between Liechtenstein and Switzerland, the former was determined to be more flexible and likely to set the right policies in the future, as well as allowing for easier corporate structure changes than Switzerland.
Towards the end of March we released The State of Store, an all encompassing review of the current positioning of STORE with extensive details into financials, economics, governance, legal, and more.
We encourage everyone to take a look at the report and to send any thoughts, opinions, or questions to our team in STORE’s official Telegram channel.
On the engineering side of things, significant advancements were made in API development and Governance tooling. More than just basic tooling, STORE is developing its APIs into an economic system that brings together compute and economics. This initiative is part of an innovative monetary policy that Chris is developing and we are very excited to share in the coming months.
Part of this design will be STORE’s Committed Supply. STORE’s Committed Supply combines governance and security through long-term commitments and inflationary rewards. This approach is consistent with the best interest of STORE and best industry practices.
Additional developments in STORE engineering include decentralized storage. This is a linchpin in the technical specification to build the next generation of Web3 to support storage, networking, and compute.