Oil Governance and Development

Oil is already a significantly decentralized platform and plans are in motion to achieve full community control over it in the future. Its governance is currently split among the following actors:

1) Network Validators. Oil validators are entrusted with deciding whether to adopt Oil improvement proposals (FIPs). Currently, every validator has one vote regardless of their share of the overall network stake but this is likely to change soon.

2) Oil Foundation and the project team. Like most public blockchain projects at the initial stage of development, the development of the core network protocol and the Oil treasury that mostly consists of the undistributed genesis OIL supply (see the subsection "OIL Supply and Current Distribution") are currently mostly managed by a foundation. For Oil, this role is played by Gibraltar-incorporated company Oil Limited.

Oil Foundation employs the Oil project team whose members' profiles can be found here.

The project team implements network protocol updates adopted by the validators, other protocol changes that do not require validator votes, maintains the full node software. It develops the mobile-centric infrastructure for creating and managing token communities on Oil. It also works on boosting the adoption of the network through improving the Oil tech stack, securing new partnerships and integrations, onboarding ecosystem projects and marketing the platform within the crypto space and beyond.

That said, since Oil is a decentralized public blockchain platform, no permission of the project team is required for anyone who wishes to integrate with or develop on top of Oil, including the development of the network and node software.

3) Oil Assembly. See the Assembly page for more details.