Announcement on the Organization Change of Defibox Foundation

Dear users:

Greetings! Defibox has been in development for more than a year. With Newdex’s early funding and continuing support, Defibox has gradually developed into an EOS leading DeFi project and successfully bridged to BSC on its first anniversary to start a new journey. However, with the continuous development of the project, both Defibox and Newdex have their own goals and plans. In order to reduce decision-making costs, improve development efficiency, and enable Defibox to achieve better development, the Defibox Foundation makes a proposed organizational change after negotiation with Newdex. The organizational changes as follows:

1. Newdex stops funding Defibox projects and no longer participates in Defibox’s strategic formulation and major decision-making. Defibox will be independent from Newdex;

2. Eason, the former member of the Defibox Foundation and project leader, will be fully responsible for Defibox’s future strategic planning, product development and market operations.

Based on the above plans, when the foundation organization is changed, Defibox will be completely independent from the Newdex. At the same time, it is planned to dismiss the Defibox Foundation and launch the DAO Board to govern Defibox.

Defibox’s vision is to build a DeFi basic module, realize decentralized governance, form a community consensus, and to enhance a healthy development. We sincerely invite community representatives, industry experts, and technical experts to join the Defibox Board. The first members of the Board will be voted by DAO, and the election proposal will be launched soon. Defibox hopes that users will be given full proposal rights through the form of DAO governance in the future, so that BOX holders can truly become Defibox decision makers. Defibox will become more open and democratic, until it truly achieves complete decentralization!