> For the complete documentation index, see [llms.txt](https://docs.ethosis.org/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.ethosis.org/compliance/corporate-structure.md).

# Legal entities

## The foundation and the operating company

| Entity                               | Responsibilities                                                                                                                                          |
| ------------------------------------ | --------------------------------------------------------------------------------------------------------------------------------------------------------- |
| **Ethosis Foundation**               | Holds protocol governance and the immutable contracts. Controls the timelocked parameter multisig until the governance module takes over.                 |
| **Ethosis Labs** (operating company) | Builds and operates the platform, the reference relayer, the indexer and the keeper software. Employs the team. Holds a licence wherever one is required. |

## The reason for the split

* Because the contracts are immutable and non-custodial, placing them under a foundation keeps governance of the protocol apart from the commercial interests of the company building around it.
* The operating company is the party that faces users through a front-end and is licensed where necessary. Keeping it separate limits how much regulatory surface the protocol itself carries.
* Were the operating company to cease, the protocol would carry on: the code is open source, and anyone can run a relayer, an indexer and a front-end from it.

## How governance evolves

1. **Today:** the foundation's timelocked multisig makes parameter changes, and every proposal is published with its rationale.
2. **Next:** parameter control passes to a governance module. The properties that matter carry over: the timelock, the public rationale, no access to funds, and no way to pause repayment.

$ETHOSIS, the protocol token, is live on Robinhood Chain at `0xe33ab021662e23f745be8e5b237babe8c7ad626c`. Its supply is fixed, and governance has no power to mint more. See [Parameter governance](/transparency/governance.md).


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