WHUF is designed to run as neutral infrastructure — and the governance structure exists to keep it that way.
Three entities, three roles
- Ethos Foundation (Cayman Islands): stewards the protocol. Holds the protocol IP; its sole mandate is the long-term neutrality and availability of the reputation layer. Modeled on the Ethereum Foundation: support the ecosystem, don't capture value from it.
- Ethos Token Ltd (BVI, a Foundation subsidiary): conducted the token sale and is the counterparty to sale participants, including price guarantee redemptions.
- Ethos Network Inc ("Ethos Labs") (US): the development company. Builds the protocol and a front-end under a services agreement paid in fiat — no direct token ownership, and the protocol operates independently of it.
What the Foundation can do
- Adjust the contributor rewards emission-rate parameter (up to a hard, contract-enforced ceiling of 100% of the remaining pool per year)
- Direct the Ecosystem Development, Bounties, and Treasury allocations
- Administer the price guarantee program
- Pause the smart contracts
What nobody can do
- Mint new tokens — no minting function exists in the contract
- Collect protocol fees — 100% are burned, contract-enforced
- Move allocation funds unilaterally — allocations sit in dedicated 3-of-5 Safe multi-sigs; contract upgrades and critical parameters require a separate 4-of-7 owner multi-sig
Why this structure
A reputation layer with a profit motive has incentives that can conflict with neutrality. Fees are burned rather than captured, the token confers utility rather than claims on revenue, and the entities that build and steward the network are structurally separated from the asset its users hold.