THE DAO - Foundry & FRY

BUY FRY

Foundry’s future is in the hands of FRY holders.

THE DREAM - ZIMDAI

Read the Zimdai Paper

Zimbabweans are trapped in an abusive economic system. Crypto can fight this today.

THE PRODUCTS

Unkillable, global, uncensorable products, ready today. Foundry does not ask permission.

TEAM TOAST

Weekly Progress Demos

We're a small team passionately devoted to bringing Foundry into the existence.

FAQ

Be In The Know

Foundry's future is in the hands of FRY holders.

The road map

11th September 2020

WEEK 2

SENTIMENTAL POLLING

The first of many "off-chain sentiment tools", Sentiment Voting will be an app for FRY holders to vote on different topics, pseudonymously, using Ethereum signatures. As with all sentiment tools, this will help individual FRY holders "get to know" Foundry, allowing the community to coordinate around plans-of-action with a lot of support.

We expect to have a live POC in one week, and will sharpen it up a bit in the following week.

MONTH 3

SENTIMENT FORUM

Foundry already has a forum at forum.foundrydao.com. To make this a sentiment forum, we will modify the software to incorporate a user's FRY balance or identity into the posts. This way, discussions on the forum will also include information about which writers actually represent large FRY holders (and thus significant voting power).

This will be an ideal place to prepare proposals, before submitting them to the actual governance contract.

¯\_(ツ)_/¯

FAT TREASUREY

Foundry needs a large treasury to pursue any of its plans, from the practical (marketing and iterating DAIHard and SmokeSignal) to the bold (ZimDai).

We are aiming for multi-millions of DAI raised by the time Liquid Democracy is built, but it's hard to predict exactly how fast this will happen. To work toward this, we'll be trying and refining many marketing strategies, while building out the core product and delivering on commitments.

YEAR 1

GOVERNANCE V1.0 LIVE

One of our highest priorities. Full Governance will implement Liquid Democracy as described in the Foundry Whitepaper.

FOUNDRY WHITEPAPER

This can be considered complete once Team Toast no longer has any special control over the Treasury or other Foundry assets, and FRY holders are solely responsible for proposing, voting in, and executing actions in the name of Foundry

THE FUTURE

PROJECT DEVELOPMENT

Once Governance v1.0 is complete, Foundry is expected to begin to pursue profitable projects that increase financial freedom. This could be any combination of marketing and iterating DAIHard and SmokeSignal, funding new projects, pursuing a profitable ZimDai plan, investing in other projects, and much more. The decisions Foundry makes at this point is determined by the values, desires, and principles of the FRY holders

www.foundrydao.com
foundrydao

Tools for Economic Freedom

Foundry will attract FRY holders who believe in unstoppable economic freedom. Following SmokeSignal and DAIHard, FRY holders will likely drive Foundry to build or invest in similar pursuits: profitable tools that increase economic freedom which cannot be shut down.

Liquid Democracy

Team Toast is designing a Liquid Democracy system that allows Foundry to rely on FRY holders for intelligent decision-making, while avoiding common pitfalls of DAO governance. Read the whitepaper for more on this design.

FRY Sale

The sale of FRY opened at noon UTC, June 19th 2020, and will run just for about 19 months, until January 23, 2022. Read more about it on our FAQ.

Zimbabwe's Plight

The official currency of Zimbabwe is rapidly inflating, and this is nothing new. It is practically impossible to save money in such an environment, and entrepreneurship is being strangled. Worse, the banking system significantly limits withdrawals, and ATMs simply don't work. Internal political pressure has proven incapable of changing any of this.

Blueprint For an Economic Jailbreak

The ZimDai Paper: A Blueprint for an Economic Jailbreak is a thorough investigation into the viability of boostrapping Dai adoption in Zimbabwe. It assumes a hostile state and does not rely on jurisdictional permission, and is the result of two months of on-the-ground research by Logan, funded by Team Toast.

A Dream Within Reach

With both marketing leadership and funding, we may have on our hands a strikingly realistic, immediately applicable plan to liberate the Zimbabwean citizenry from systemic financial abuse. This has been a dream within crypto for years. Given significant funding, we expect Foundry to lead and fund this campaign.

SmokeSignal

SmokeSignal is a bold step into a world without censorship. Pseudonymous users can post new messages or reply to others, in subreddit style topics. Each post is immediately published on the Ethereum blockchain and impossible to delete or censor. The conversation has already started.

DAIHard

DAIHard extends many of the promises of crypto (borderless, anonymous, limitless, unstoppable) into entering and exiting crypto itself. Anyone, anywhere can buy and sell DAI for local cash in a peer-to-peer marketplace, without KYC. Create an offer now.

The Road Ahead

Foundry will attract FRY holders who value profitable tools that guarantee economic freedom. This will give Foundry a preference to fund products that traditional corporations can't pursue for fear of legal attacks or other threats.

Logan Brutsche
Logan Brutsche

Logan Brutsche (Reddit, Github)

Co-founder and CEO of Team Toast, and doting mother of Foundry. Lead developer for DAIHard, Foundry, and SmokeSignal. Developed the Burnable Payment, DAIHard, and SmokeSignal smart contracts. Uses the Cu Chi Tunnels extensively to evade The Man.

Schalk Dormehl
Schalk Dormehl

Schalk Dormehl (Github)

Co-founder, COO, and original Sugar Daddy of Team Toast. Developed the Bucket Sale contract and associated tests. Leads research and development for DAO governance and Foundry design. Pictured here is the dawning realization that it might be dangerous to be this involved with Foundry.

V for Visuals
V for Visuals

V for Visuals

Brand development for Foundry, and visual designer for Foundry products. Shrouded in secrecy. Those who speak its true name invite disaster and misfortune. Coaxed into manifestation by offers of cheap liquor and forbidden dark magicks. The gender and plurality of this agent remains unkonwn, but it seems to be able to pass CAPTCHAs.

Foundry FAQ

About Foundry

Foundry is a for-profit DAO that seeks to build and profit from projects and ventures in the blockchain space--specifically, projects that traditional institutions cannot pursue, and which increase financial freedom.

DAO stands for Distributed Autonomous Organization. A DAO is similar in function to a traditional corporation or organization, but instead of being legally constituted, it is built on top of cryptocurrency/blockchain technology (usually Ethereum, as is the case with Foundry). Because a DAO is not a legal entity, it can operate outside all jurisdictions, and it can't be shut down, stopped, or sued by any nation on earth.

Several DAOs already exist. Maker, the system that provides the DAI stablecoin, is a good example. Augur is another. However, these and other DAOs typically focus only on blockchain development, rather than interacting in the "real world".

Foundry's mission is to build technology and tools that increase worldwide financial freedom, especially when those tools are difficult/risky for traditional institutions to build. Our existing two products illustrate this. DAIHard facilitates unstoppable entry and exit into crypto, even in jurisdictions where this is illegal. SmokeSignal facilitates unstoppable and uncensorable chat, and is similarly designed to work even in jurisdictions hostile to free speech.

Foundry's profit motive is based on a simple premise: there is a niche of profitable, ethical, illegal products, which a DAO can pursue with more freedom than traditional corporations or individuals. DAOs are inherently resistant to legal pressure or other bullying and threats, and Foundry is designed to magnify this dynamic; thus it can explore these niches with far lower costs and greater flexibility.

In short, Foundry is expected to build profitable enterprises that are too hot for conventional institutions to build safely, with a philosophical focus on radical freedom for individuals.

Right now, Team Toast manages the Foundry Treasury. Once governance is complete, Foundry will be controlled entirely by FRY holders: they will be responsible for proposing usages of the Foundry Treasury, and responsible for voting in or voting out any such proposal.

Specifically, FRY holders will control Foundry via a Liquid Democracy system. This allows FRY holders the option of voting directly or delegating their voting power to FRY holders they trust. More on this below.

As governance is implemented, Foundry Token (FRY) holders will be able to submit and vote on various "proposals", which if passed, will execute a specific transaction from the Foundry Treasury. This transaction could be a simple payment (such as paying a contractor for an improvement to SmokeSignal) or a more complex transaction involving smart contracts (such as converting half of the DAI treasury to ETH, investing in other DAOs, or creating a Burnable Payment).

Initially, the Foundry Treasury will simply hold all the funds raised by the sale. In addition, Foundry-built products will be designed to capture a profit stream, and this will be directed to the treasury. DAIHard and SmokeSignal already capture and redirect profit in this way.

Foundry may, after its initial presale, enter a "perpetual sale" where FRY tokens will continuously be sold for funds. This would dilute existing holders, but preserve the value of their FRY tokens by pulling in more funds for the additional FRY minted.

A liquid democracy system allows some voters to delegate their votes to other voters. This is similar to having a representative democracy, but with several layers of representation. For example, many of your friends might delegate to you, while you delegate Alice who you met a conference, and Alice delegates to a Bob, a pseudonymous identity with a good online reputation. Now whenever Bob votes, his vote carries the weight of not just his FRY, but also your FRY, your friends' FRY, and Alice's FRY.

In our liquid democracy system, individuals can change their delegation at any time. If you see Bob make a bad vote, you can remove your support immediately. You'll bring your friends' voting weight with you when you do this, and any active proposals Bob has voted on are instantly re-counted to reflect this drop in support, possibly reversing the ultimate pass/fail decision on the proposal.

See our Liquid Democracy whitepaper for an in-depth discussion of the design.


About the token sale

Yep. That's why our token sale is not open to US investors, qualified or otherwise. We block participation from aggressive jurisdictions.

You can head over to sale.foundrydao.com. To participate, you will need a web3 wallet (we recommend Metamask), a small chunk of Ether (ETH) to pay for the gas of the transaction, and however much DAI you want to bid for FRY.

The hard part will be getting crypto of any kind. Typically the easiest route will be to use a cryptocurrency exchange, which you'll have to select based on the country you're in.

Once you have crypto, sites like 1inch.exchange and Changelly will allow you to trade any crypto for DAI and ETH.

The DAI goes into the Foundry Treasurey contract. As described above in Who controls Foundry, initially the Treasury will be owned by a simple multisig controlled by Team Toast. We'll use these funds to iterate SmokeSignal and DAIHard, and develop the Foundry Governance system.

When Foundry Governance is capable of making autonomous, intelligent decisions, it will take over control of these funds. At this point, the only way for anyone to influence usage of the Treasury will be to hold FRY and participate in governance.

Initially, Team Toast is in control of the Treasury, because Foundry is still being built. Ultimately, the Treasury will be control of Foundry Governance (and therefore FRY holders). You're welcome to wait to participate until after Foundry Governance is fully operational and FRY holders have control over the Treasury.

Just under 20 months, ending in Feburary 2022.

60,000,000 will be minted and sold in total--30,000 every 7 hours after launch.

At the end of the sale, there will be 100,000,000 FRY tokens.

After the initial sale, we are considering initiating a perpetual sale. This would dilute FRY tokens at a rate of 5% per year in exchange for new, spendable funds in the treasury.

30,000,000 FRY tokens will go to Team Toast.

10,000,000 FRY tokens will be put in the Foundry Treasury, so governance can onboard long-term talent in exchange for FRY.

The sale has 2000 buckets, each of which will mint and sell 30,000 FRY. The first bucket closed 7 hours after the sale started, the second one 7 hours after that, and so on. Participate at the sale.foundrydao.com.

Once a bucket has concluded, you can withdraw your FRY tokens. The proportion of your DAI to the total DAI entered, is the proportion of the 30,000 FRY you receive. For example, if 1000 DAI total was provided to that bucket, of which you supplied 100 DAI, you will be able to claim 10% of the total 30,000 FRY in the bucket: 3,000 FRY tokens. Thus, for any given bucket, the effective price per FRY increases every time another user enters DAI into that bucket.

Yes.


About Referrals

To incentivize marketers for bringing in participants to the sale and to retain marketing expertise within the FRY token holder group.

10% of the value you enter into any bucket gets entered into the next bucket in your name. So if you are using a referral code when buying 100 DAI in bucket 20, then you will also be credited for 10 DAI in bucket 21.

When someone buys with your referral code, you are credited as if you bought into the next bucket. Your credit in the following bucket starts at 10% and can go as high as 20% of the purchase of the person buying with your referral code. The bonus % is based on the amount of total sales referred with your code; 1% for every 1,000 DAI referred.

For example, if you generate a referral code and share it with someone and that person buys 1,000 DAI in bucket 23, then you will be credited with a sale of 11% (110 DAI) in bucket 24. If someone later buys another 2,000 DAI in bucket 40 with your referral code, then you will be credited with 13% (130 DAI) in bucket 41.

11th September 2020

WEEK 2

SENTIMENT POLLING

The first of many "off-chain sentiment tools", Sentiment Voting will be an app for FRY holders to vote on different topics, pseudonymously, using Ethereum signatures. As with all sentiment tools, this will help individual FRY holders "get to know" Foundry, allowing the community to coordinate around plans-of-action with a lot of support.

We expect to have a live POC in one week, and will sharpen it up a bit in the following week.

MONTH 3

SENTIMENT FORUM

Foundry already has a forum at forum.foundrydao.com. To make this a sentiment forum, we will modify the software to incorporate a user's FRY balance or identity into the posts. This way, discussions on the forum will also include information about which writers actually represent large FRY holders (and thus significant voting power).

This will be an ideal place to prepare proposals, before submitting them to the actual governance contract.

¯\_(ツ)_/¯

FAT TREASUREY

Foundry needs a large treasury to pursue any of its plans, from the practical (marketing and iterating DAIHard and SmokeSignal) to the bold (ZimDai).

We are aiming for multi-millions of DAI raised by the time Liquid Democracy is built, but it's hard to predict exactly how fast this will happen. To work toward this, we'll be trying and refining many marketing strategies, while building out the core product and delivering on commitments.

YEAR 1

GOVERNANCE V1.0 LIVE

One of our highest priorities. Full Governance will implement Liquid Democracy as described in the Foundry Whitepaper.

FOUNDRY WHITEPAPER

This can be considered complete once Team Toast no longer has any special control over the Treasury or other Foundry assets, and FRY holders are solely responsible for proposing, voting in, and executing actions in the name of Foundry

THE FUTURE

PROJECT DEVELOPMENT

Once Governance v1.0 is complete, Foundry is expected to begin to pursue profitable projects that increase financial freedom. This could be any combination of marketing and iterating DAIHard and SmokeSignal, funding new projects, pursuing a profitable ZimDai plan, investing in other projects, and much more. The decisions Foundry makes at this point is determined by the values, desires, and principles of the FRY holders