Dash Launches Dash Investment Foundation
Dash has launched its investment fund dubbed the “Dash Investment Foundation – DIF”. DIF which is believed to be the world’s first ownerless and memberless investment fund was incorporated on March 21st as a Cayman Islands foundation. The primary purpose of DIF is to strengthen the Dash Network and pursue investment opportunities funded by the network.
The foundation creates a bridge between the network protocol and the legacy financial and legal systems. This opens new possibilities for entrepreneurs and the Dash network to partner and mutually benefit from the funding available through the Dash network via Dash Investment Foundation.
The foundation will make dash-denominated investments on behalf of the Dash Network. It is saddled with the responsibility of offering business loans and equity investments in blockchain, payments and consumer tech industries. Special preference will be given to tech businesses that present compelling use cases for digital cash.
In addition to strengthening the use case of Dash as a cryptocurrency, DIF will be making recommendations to the network on what proposals to fund. DIF currently has 6 unpaid supervisors, 4 of which were voted in by masternode operators.
Funding coming into the foundation will be equally stored in Dash, Gold and USD to cushion the effects of undue volatility in the crypto space. The DIF team has also proposed that a certain percentage of the available Dash treasury should be set aside for executing foundational projects.