Update: Distribution of Ownership and Contributor RAD Allocations

As originally laid out in the “Distribution of Ownership Workstream” post and then formalized in the proposal “Transition to the DAO” in August 2022, the Better Internet Foundation (previously Radicle Foundation) has been granted the responsibility of allocating and setting up contributor token reward mechanisms on behalf of Radworks. In August 2022, the Foundation was sent 1.9M RAD to distribute among Radworks contributors who joined the project post-token launch.

As of today, approximately 1.35M RAD have been allocated across various vesting contracts for contributors, with approximately 550,000 RAD remaining unallocated. The intention is still to shift control of these vesting contracts to Radworks directly when it has the capability to actively manage these vesting contracts and partner relationships.

For the time being, the Foundation will continue to setup RAD allocations for Radworks contributors based on the calculations, parameters, and conversion rates laid out in “Transition to the DAO”. In 2024, the Operations Committee at the Foundation will put forward “a strategy for distributing ownership to future contributors.” Until then, Orgs that want to incentivize their contributors with RAD should reach out to the Foundation’s Operations Committee.