About us

Aug 10, 2024 — Reading Time: 5 minutes

The Onchain Foundation has been bringing people onchain since 2016, continue to learn more about our mission.

aspect-ratio-horizontal-resize-_-snow-cone-design-system-1

The Onchain Foundation is a non-profit collective of individuals passionate about blockchains and their potential to improve the world for all humans. Our purpose is to meaningfully advance the adoption of blockchain technology to create a world in which everyone is onchain.

History

Originally, we started as the “Lisk Foundation” dedicated to the “Lisk” project, which raised 14,000 BTC in 2016 to create a blockchain software development kit for JavaScript developers, and to build a platform consisting of a “network of blockchains” (also called sidechains). Ultimately, our vision was to democratize access to blockchain technology to as many people as possible, while also providing the industry one of its first alternative approaches to blockchain scaling.

Unfortunately, our initial hypotheses of attracting JavaScript developers and building a “network of blockchains” turned out to be limiting for stakeholders in the Lisk ecosystem. There was not as much adoption of blockchain technology by pure JavaScript developers as we had forecasted, and the industry started to converge around the Ethereum ecosystem and standards such as EVM smart contracts, making non-EVM sidechains more cumbersome and less attractive to build on. Additionally, over recent years sidechain architectures were disrupted by newer scaling solutions such as Layer 2s.

To add to this, internal research we conducted towards the end of 2022 made clear to us that even very large Layer 1 infrastructure projects continue to struggle with being profitable.

Therefore, in 2023 we made the difficult decision to adapt, embrace change, and reposition ourselves to most effectively continue working towards our purpose.

Transition

The total team count at the time of the transition was around 100 people from all areas of expertise: operations, research, development, marketing, business development, and design. Our teams have worked on ground-breaking technological and business research, cutting-edge backend infrastructure, and super-accessible wallet user interfaces.

With such rockstar team members, it was clear to us that we must fully utilize their wealth of expertise. This required us to offer a similar suite of products and services as before but with a single difference.

Over the past eight years, we have learned much about business and product development. One of the more significant lessons was that it’s crucial to enable independent development of your products, in order to move forward rapidly and individually with each one. That learning led us to the idea of transitioning the Foundation to a venture builder, launching multiple individual products (or ventures) under its umbrella.

Therefore, we rebranded ourselves to the Onchain Foundation, a universal brand for all our products.

Structure

For each new venture, the Onchain Foundation established a new legal entity in a place of jurisdiction best suited for the construction of its products.

To provide operational support as a service, Onchain Ventures AG was established as an operational arm. This provided a more flexible and leaner foundation.

The foundation council, with its presidents Max Kordek and Oliver Beddows, preside over the Onchain Foundation to ensure it adheres to its statutory purpose, remains compliant, and its treasury is properly managed. As blockchain founders from the first hour, they further advise each of our ventures.

They are supported by a strong management team consisting of Guido Schmitz-Krummacher, Lothar Skorupka, and Fitore Gacaferri, who oversee the operations as a service to our other ventures.

Each venture has its own leadership team of C-level experts who drive the venture forward independently and rapidly.

Follow these links to meet our teams: Onchain, Lisk, Pass App.

The Onchain Foundation’s treasury is being used to advance all ventures forward, with each venture receiving different budgets each year. Our financial goal is to create multiple independent revenue streams that will lead to each venture being sustainable and profitable for the Onchain Foundation. The ultimate objective for the Foundation is to persist indefinitely in order to fulfill its purpose for all time.

See our monthly financial updates to get an updated view of our treasury.

Ventures

The Onchain Foundation’s ventures are very infrastructure-heavy, because historically that’s where the most returns and opportunities were found in the blockchain industry.

Our ventures encompass a comprehensive range of infrastructure; we develop a Layer 2 rollup and a smart wallet. Next to that, we are doing a lot of blockchain research to inspire and educate the next generation of blockchain entrepreneurs.

We are currently covering all angles we want to cover and are running at capacity. Therefore, there is no intention to launch additional ventures within the Onchain Foundation structure.

Onchain

Onchain is our research arm and a platform focused on discovering and evaluating real-world use cases of blockchains. It inspires the next generation of entrepreneurs and educates businesses about the vast possibilities of web3.

Onchain is being incubated by the Onchain Foundation. It is incorporated as the Onchain AG in Zug, Switzerland, and also acts as the public brand of the Onchain Foundation.

Lisk

Lisk has been contributing towards democratizing blockchain accessibility for developers and end-users globally since 2016. At the beginning of 2024, Lisk became the first Layer 1 blockchain to successfully migrate to a Layer 2 rollup on Ethereum.

By leveraging cost-effective, scalable, and innovative Layer 2 technology, Lisk aims to enable real-world applications in emerging markets to operate efficiently on Ethereum for the first time. As one of the original members of the Optimism Superchain, Lisk also plays a pivotal role in building the industry’s first truly interoperable supernetwork alongside Optimism, Base, and Worldchain.

Lisk is being incubated by the Onchain Foundation. It is incorporated as the Lisk Ltd. in Abu Dhabi, UAE.

Pass App

Pass App is a mobile smart wallet helping anyone to discover new web3 use-cases, communities and opportunities. Utilizing cutting-edge technologies in a unique way, it achieves a never-before-seen simplicity and accessibility – allowing anyone to enter web3 and benefit from it.

Pass App is being incubated by the Onchain Foundation. It is incorporated as Pass App Ltd. in Abu Dhabi, UAE.

Extended Family

Within the umbrella of the Onchain Foundation there are a few external ventures which we accept as part of our extended family.

Klayr

Out of Lisk’s pivot away from its Layer 1 technology, a group of long-standing community members emerged who wished to continue its legacy. As strong believers in Lisk’s original vision and technology, they gave the project a new name, brand, and spin. Klayr was born.

Klayr is a Layer 1 blockchain platform designed to empower creators of all backgrounds and ambitions to build blockchain solutions. Whether you’re an individual artist experimenting with tokens & NFT collections or a developer creating full-fledged blockchain applications on your dedicated sidechain, the platform provides the tools you need.

Klayr is not being incubated but rather just financially supported by the Onchain Foundation. It is incorporated as Klayr Labs B.V. in Utrecht, Netherlands.

Collect

Onchain Foundation’s founder, Max Kordek, spots a definite gap between infrastructure and consumer products in the blockchain industry. While in the last decade, the biggest opportunities were found in building infrastructure blockchain technology, in the next decades, the opportunities will gradually shift towards consumer applications. With renewed focus, Max Kordek is going to concentrate on this direction.

Collect enables content creators on the internet to be rewarded for their work. This project is currently in stealth mode. More information to be revealed early 2025.

Collect is not being incubated nor financially supported by the Onchain Foundation. It is not incorporated yet.

The Future

The history is behind us; the transition has been completed, and the new structure has been implemented. Now, the real work can continue to bring people onchain.

Each venture is advancing independently forward, establishing revenue streams, garnering adoption, and carving out a niche for themselves in our beloved blockchain industry.

Follow each of their journeys on their respective websites and social media channels.

Onchain