SOV Foundation

The SOV Foundation is a non-profit incorporated in the Marshall Islands whose mandate is to oversee the distribution and development of the SOV.

What does The SOV Foundation do?

One of the foundation’s initial responsibilities will be overseeing the design, development and implementation of the SOV chain and the initial distribution of SOV.

Once the SOV has launched, the foundation will be responsible for building an ecosystem of services based around SOV and ensuring SOV’s long-term stability.

How is the foundation governed?

The SOV Foundation will initially be governed by seven directors, including:

Two appointed by the RMI Government

Two appointed by SFB Technologies, the creators of the SOVchain

These four directors will then jointly appoint three more, chosen from the worlds of international finance, technology and politics.

In the long term, The SOV Foundation will transition to a more decentralized governance method, with elections based on the SOVchain itself.

The 4 Trust Funds

Most of the initial SOV supply, along with proceeds from the TRMI, is earmarked for distribution among different Marshallese government trust funds.

In addition, 10% of the initial SOV supply will be distributed among Marshallese citizens.

RMI Green Climate Fund

RMI Nuclear Legacy & Healthcare Fund

RMI National Trust Fund

RMI Resident Citizen Allocation Fund