The overall aims and objectives of the Red Foundation are:

  • Promoting the development and use of the Red programming language and toolchain

  • Organizing the Red community of users and contributors

  • Coordinating and organizing events related to Red language, globally

With the creation of the RED token, and new commercial and open source Red projects being planned, it was decided that a new governing body should be created to formalize aspects of governance and organization that weren’t needed before. Drawing clear lines, setting boundaries, and laying down rules will help eliminate confusion and conflict between commercial and open source projects, rights, and assets. Adding blockchains into the mix only increases the need for clarity.

It is expected that the Red programming language open source project’s assets will be moved to a non-profit foundation, the Red Foundation, which will define the rules of RED token usage, among other things. We are closely following how the OAX foundation, Aragon and other DAOs operate and will seek partnerships to help build an optimal organization. Voting rules and intra-community modes of operations for RED tokens will be defined and codified by the foundation.