I've moved on from my role with Fluid... and I step into the director role at Fluid Foundation.

Upon governance approval, Fluid will become a fully DAO-owned protocol. However, a DAO cannot have employees, nor can it directly meet AML, KYC, banking, and regulatory requirements when interacting with off-chain counterparties without compromising the decentralized governance that token holders have today. This is why we are proposing the establishment of the Fluid Foundation.

The Foundation will act as a recognized legal entity serving the protocol. It will not have traditional owners; instead, it will operate through custodians and directors responsible for administering it in line with its defined purpose.

The Foundation’s constitution and intent are to serve the protocol and ensure Fluid’s long-term sustainability. Its funding and mandates will come exclusively from DAO grants, and token holders will retain full oversight over objectives, budgets, and major decisions - just as they do today.

Alongside the Foundation, the Fluid team is committing all intellectual property, including frontend domains, smart contracts, and related assets, to the Foundation. Rather than remaining with the team or early contributors, for the first time, token holders will get real, enforceable control over Fluid’s IP.

We are also proposing a $250k monthly operational budget, distributed as a DAO grant to the Foundation. This will cover growth, engineering, risk, security, finance, marketing, and operational functions required to maintain and scale the protocol.

I also want to share what we have been working on in recent months and what we aim to achieve this year.

DEX v2 private audits are now completed, and the @sherlockdefi contest will conclude around March 10th. We plan to launch v2 immediately afterward. As I have mentioned before, we believe v2 has the potential to become the largest DEX in DeFi by volume across all chains this year.

We are actively working with multiple institutions, both those already operating in DeFi and those preparing to come on-chain. They are not satisfied with the current DeFi offerings (name me 1 big name institution market that grew to a considerable size), as simply depositing into a vault or relying on a curator operating within a limited system is not good enough for them. Institutional onboarding is a lengthy process, involving extensive compliance and legal coordination that can take six months or longer, but we are now close to onboarding our first partners.

This year, our goal is to achieve more than we have in the past two years combined: more protocols, more integrations, and more supported assets. The first protocol we plan to launch is the Lite USD vault, expected as soon as this week.

On February 26th, we are launching Venus Flux on @BNBCHAIN in partnership with our dear partner @venusprotocol. We believe our deployment on BNB Chain will become one of Fluid’s largest and most important markets.

Following the DEX v2 launch, we also plan to introduce an insurance protocol designed to provide additional protection for lenders. More details will be shared soon.

Our deployment on Solana @jup_lend is growing extremely fast! We are launching many more products on Juplend and aiming to make it the biggest protocol on Solana this year.

We are also working on a lot of off-chain initiatives (on top of our conversations with institutions I already mentioned). Can not share yet, as all of them a) take a lot of time until rolled out b) are yet to be finalized, but the internal goal for this year is $50b TVL, and we are doing our best to reach that.

Stay Fluid 🌊

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