Abachi Foundation

The staking mechanism will eventually be converted into a DAO as Abachi is committed to the protocol becoming a DAO and to decentralise it in every way possible. Currently the Caymen Island Foundation structure is the most conducive to this and Abachi has filed in the Caymen Islands to get this processes completed. The process takes a couple of weeks to complete.

The private token sale, discord offering and pABI sales have been conducted under a BVI private company structure (Abachi Pty Ltd) with restrictions on countries including Australia and United States. We will be working on moving this structure into the Foundation structure mentioned above. While Abachi uses the same mechanism as Olympus DAO to bootstrap its treasury, there are key differences that need to be taken into consideration as the ABI uses it as an efficient system to reward stakers. Abachi will also be setting up a foundation in Singapore. The foundation in Singapore will be a private limited for profit that will develop and license out the technology we build. We may at a later stage introduce a funding round for the Singapore entity which will be completely unrelated to the Abachi protocol or DAO and only handle real-world integrations.