A non-commercial Cayman Islands Foundation Company established to preserve the integrity of the FiatRails protocol while enabling progressive decentralisation.
The Foundation exists to steward the FiatRails protocol. It does not operate commercially, hold user funds, or generate revenue.
Governance and oversight of the FiatRails protocol and associated smart contracts. Establishment and maintenance of protocol rules, parameters, and incentives.
Issuance, allocation, and management of protocol-level tokens including FR Tokens (governance and utility) and FSC Tokens (Layer 1 native gas).
Stewardship of protocol treasury assets including the Foundation Treasury, Insurance Fund, Staking Rewards Pool, and Ecosystem Development Fund.
Establishment and oversight of cross-border settlement corridors and related operational parameters across emerging markets.
Management of protocol upgrade and smart contract deployment authority. Coordination with regulated operating entities in relevant jurisdictions.
Facilitation of decentralised governance mechanisms over time. Protection of the long-term integrity, neutrality, and sustainability of the protocol.
The Foundation shall not enter into enterprise, customer, or revenue-generating contracts; employ operational staff for commercial activities; provide paid services to end users; or act as an operating company. This prohibition is enshrined in the Foundation's Memorandum of Association and cannot be amended.
Commercial activities relating to FiatRails are conducted by separate operating entities. The Foundation may receive protocol fee allocations as designated in smart contract parameters, treated as protocol-level resources and not as consideration for services.
The Foundation is bound by 13 immutable protocol invariants that govern all FiatRails deployments. These rules are non-negotiable and cannot be overridden by governance — including the requirement that FiatRails never holds fiat or user funds, that all claim tokens are 100% backed, and that reserves are never rehypothecated.
The complete list of protocol invariants is published in the FiatRails Whitepaper.
The Foundation is governed by a Council, a Protector, and a Supervisor, as defined in the Articles of Association.
The Council is responsible for day-to-day administration of the Foundation, subject to the powers of the Protector.
The Foundation shall at all times have a Protector with authority over material decisions including token issuance, treasury, amendments, and dissolution.
As the Foundation has no members, the Protector also serves as Supervisor with rights to attend and vote at general meetings and access Foundation information.
The Foundation maintains strong controls to ensure protocol integrity and responsible stewardship.
The Foundation acknowledges the protocol's long-term objective of progressive decentralisation while maintaining regulatory compliance and operational stability.
Protector-controlled governance. Council manages day-to-day operations. Protocol parameters set centrally.
Non-binding governance mechanisms introduced. Token-based signalling for parameter changes. Community advisory input.
Limited powers delegated to token-based voting. On-chain governance for specific protocol parameters. Council expanded.
Selected governance functions transitioned to decentralised structures. Emergency intervention retained. Fully reversible.
The protocol uses two tokens with distinct roles: FSC for gas and FR for coordination and governance.
Native gas token of the FiatRails Settlement Chain. Designed for anti-spam only with zero economic value. Not traded, not listed. Partners experience effectively zero gas costs through Foundation subsidies.
Economic and governance coordination token with market-determined value. Used for staking, bonding, settlement incentives, and hub-and-spoke liquidity routing across all corridors.
Banks and PSPs may optionally stake FR to join the network. Staking is not required — partners can pay standard fees in USDU or fiat instead.
Staked FR reduces protocol fees with tiered discounts from 5% to 20% based on stake amount. Four partner tiers from Bronze to Platinum.
FR holders above 10,000 FR may propose protocol parameter changes. Advisory only — not binding on the Foundation.
Settlement agents may optionally stake 1,000,000 FR for additional rewards on settlement operations processed through the network.
FR serves as the central hub asset. All claim tokens (cKES, cGHS, cAED, etc.) pair against FR, reducing required trading pairs from N² to N.
Stake-weighted priority in new corridor launches. Optional mechanism for partners who want early access to emerging corridors.
The Foundation stewards four treasury pools, each with defined purposes and governance-controlled disbursement.
Operational funding for protocol development, compliance, and administration
User and merchant protection against operational failures and edge cases
Token holder incentives for network security and partner alignment
Grants, partnerships, corridor bootstrap, and developer incentives
FiatRails Foundation Ltd is incorporated as an Exempted Limited Guarantee Foundation Company under the Foundation Companies Act, 2017 and the Companies Act (as revised) of the Cayman Islands. The Foundation has no members, no shareholders, and no profit distribution mechanism.
Upon dissolution, after payment of all debts and liabilities: digital assets (FR Tokens, FSC Tokens) shall be burned or permanently removed from circulation; fiat and stablecoin assets shall be distributed to non-profit organisations or open-source development funds; no surplus assets shall be distributed to Council members, the Protector, or affiliated parties.
FR Tokens do not represent equity, ownership, or profit rights in the Foundation or any affiliated entity. Token holders shall have no enforceable rights against the Foundation by virtue of token ownership alone, and shall have no claim to Foundation assets upon dissolution. Nothing on this website creates a partnership, joint venture, agency relationship, or fiduciary relationship between the Foundation and any token holder. The Foundation makes no representations regarding the regulatory classification of FR Tokens in any jurisdiction. Token holders are responsible for compliance with applicable laws in their jurisdiction.