[IoP] Fermat’s First DAO Begins Its Own Journey

Three years after its founding, the Fermat project has given birth to its first crypto-community: the IoP Community. From the broader Fermat community, a new community has been born, full of enthusiastic people willing to build a piece of Fermat’s vision of The Internet of People.

Various developers, entrepreneurs, and local chapters recently celebrated their independence from the Fermat project, and they are now responsible for independently running part of the infrastructure created by Fermat: the IoP blockchain, governance apps, location-based network and content addressable network.

The IoP Consortium — an institution that already has several members, managed by Daniel Csendes — and the wider IoP Community will receive a total of 300K IoP tokens from original founder Luis Molina to finance core development, community building, research, and entrepreneurship.

As part of its independence, the IoP Community has agreed to be true to Fermat’s vision. Both groups agree to coexist peacefully as two independent projects pursuing some overlapping goals. This peaceful coexistence includes removing toxic material from the public or semi-public domain. Both communities also agree to refrain from any action that can directly affect the robustness of the IoP token, including but not limited to burning tokens or altering the blockchain balances. It was also agreed that everyone can freely trade their tokens, and no IoP whale would dump tokens in the market or try to manipulate it in any way. To preserve the independence of the IoP Community, Fermat founder Luis Molina will not participate in the decisions of the IoP Community or interact with their voting system in any way. If necessary, we are happy to pause Contribution Contracts apps until the IoP Community redesigns its features to implement their updated governance model.

As soon as we receive their IoP addresses, the initial 166K IoP tokens offered by founder Luis Molina in this post will be transferred to the IoP Community members listed in our previous announcement. The remaining 144K IoP tokens will be put into an escrow multisig account requiring the signature of two respected members of each community, accepted by both groups, to unlock the funds over an agreed period.

As stated in our previous announcement, the Fermat project sees this split as a positive outcome. Fermat wishes the IoP Community both luck and success.

Thanks to Rich McDowell and others for the editing.

If you are interested in learning more about Fermat technologies, this list might help you:

“Fermat, the Internet of People and the Person to Person Economy.” The Internet of People architecture dissected.“Introducing the Graphchain.” The cryptographically secured data structure we use to store profiles and their relationships.“Introducing Redtooth” Like Bluetooth with global range.“The Profile Server.” The cornerstone software of the Internet of people.“The Location Based Network.” The geo-located network that help other services to be geo-localized.“Person to Person Apps.” Apps that run over Redtooth.“The Web of People” An open map of everyone and how we are related.“Fermat Distributed Governance Model” The way we govern ourselves.“Fermat’s Inception” How the Fermat project was born.“IoP Mining” How to enter into the world of mining IoP Tokens.

The Internet of People is being built by the Fermat Project. If you like what you are reading, check out our online community here.


Luis Fernando Molina

Inventor of the #InternetOfPeople, Founder of Fermat: A connected but decentralized human species. ~ We know the future because we are building it. ~