A few days ago, the SummerCoinV2 Foundation was announced by the development team. As we have seen a few coins establishing Foundations in the past, and not all of them to great success unfortunately, let’s take a look at what SUMV2 is up to!
The SummerCoinV2 Foundation consists of SUM2 Fund Members, which are people who donated a minimum of 0.05 Bitcoin each to help advance SUMV2. As a result, Fund Members get voting rights and they get to have their say in which donation causes are supported.
The Sum2 Fund has two different classes of donation addresses :
The first class is the SUM2 Foundation Trust and it has only one address. The people who donate to this address choose to give the foundation the power to invest in what the Foundation think is best. It will also be the address you have to donate to in order to gain membership.
The second class is SUM2 Purpose Trust. It has a several addresses:
for example one for the website, one for the logo, one for the forum etc. People can choose what their donation will be used for. This also gives a chance to those who do not necessarily want to be part of the foundation a chance to make their voice heard.
You might wonder : “Why don’t you accept SUM2 for donations then?” The reason is simple : to have no effect on the current exchange prices whenever there is a need to sell and pay for this or any other service or project.
As a SUM2 Fund Member, you will get the “Investor” title automatically, but other titles can be obtained as well, depending on your donation amount. In order to become a SUM2 Fund Member, you can find more information here.
So what are the plans for the SummerCoinV2 Foundation? Two major points are on the agenda as of this writing : A vote on whether to rebrand or not, and a logo design contest. Interesting topics which we will definitely keep an eye on!
You can find out more about the SummerCoinV2 Foundation here.
SummerCoinV2 On Twitter : https://twitter.com/SummerCoin2
SummerCoinV2 on Facebook : https://www.facebook.com/pages/SummerCoin-2/275085062670816
SummerCoinV2 Donations are welcome to : sMrRAWssoJz6SCtciXeHoLfi2e68tk649E