Hi @GFXlabs - to clarify, the GCP Foundation initially adopted plain vanilla bylaws upon its incorporation on July 5, 2024. As you know, before the GCP Council was elected, the Initial Transparency Committee was appointed, with one of its main objectives being to define DAO oversight in greater detail, working alongside the GCP Team and the Arbitrum Foundation.
Once the ITC’s term ended, the team focused on:
a. Onboarding the GCP Council members (August - September 2024)
b. Onboarding the initial employees (October 2024)
c. Drafting the investment thesis for the GCP Foundation (November-December 2024) all while setting up the operational foundation of the entire company i.e. obtaining insurance, onboarding with different custodians, service providers, setting up bank accounts etc.
Please note that all this time GCP Foundation operated with minimum operational funding and NO investment/grant funds.
The bylaws were officially finalized in February 2025 since the main objectives of GCP were to first operationalize the company and set out a clear vision for it. Once the bylaws were fully fledged and the DAO oversight was baked in that’s also when GCP Foundation started to receive grant/investment funds.
Additionally, please see the latest update which outlines our approach to GCP’s DAO communications strategy. Looking forward to building stronger relationships across the delegate base and ecosystem in the future. We’ll share our monthly update at the end of this week which we believe will set us on a new path as well.
Thanks,
GCP Team