Ink Foundation, GSR and Others Establish Charter Foundation to Help Crypto Founders Reduce Token Issuance Costs

PANews, September 9 – According to The Block, the Ink Foundation, GSR, and several legal and audit firms have jointly launched the Charter Foundation, providing crypto founders with a shared legal framework to reduce token issuance costs. Charter states that the framework can cut upfront token issuance costs by more than half by establishing a separate Cayman Islands company for each project. Partners include GSR, law firms Carey Olsen, Cooley, and others, as well as audit firms ChainSecurity and Zellic.

Founders typically need to build a structure from scratch consisting of three companies (a lab company, a Cayman foundation, and a BVI issuance subsidiary), plus independent director fees, with costs that can exceed $100,000 before the token generation event. Charter establishes a separate Cayman company for each project, and after a successful issuance, the entity can be converted into an independent foundation and exit Charter.