Lisk, the decentralized blockchain application platform, is concluding an already eventful 2016 with major news.

On the heels of achieving first milestone of mainchain stabilization in Inception phase, the startup has now announced the successful registration of the Lisk Foundation, a Swiss “Stiftung” or not-for-profit organization. Lisk said that with the registration of the foundation, it now has guaranteed access to the ICO funding for hiring of employees, promotions and marketing campaigns, a full re-branding and future conference attendances.

“In March 2016 we concluded what many consider the first modern ICO – the crowdfunding vehicle of the future. Through thousands of ICO investors, all of whom have made profit to date, we raised the equivalent of millions of dollars to fund what we believe is the future of all application development. Today we’re proud to make our biggest announcement yet, a showing of enormous progress with the creation of a foundation and by making our funding fully transparent”, Lisk CEO Max Kordek said.

With registration of the entity complete, the Lisk project opened its funds to public inspection ensuring complete transparency. As of today, the Lisk Foundation controls approximately $10,000,000 USD in cryptocurrency. Interested parties can view the LSK address 5726759782318848681L and BTC address 3HsSR84zReeBt5fTMESWJ2y18pMo5gz2Sq to view current totals.

“Lisk continues to blaze new pathways, but we were happy to follow principal virtual currencies lead in establishing a non-profit foundation, a necessary infrastructure, in Switzerland. The Lisk Foundation is tasked with a mission to financially support the development and promotion of the Lisk project overall; its establishment will help guarantee the success of a widely used, next-generation blockchain application platform”, Kordek added.

Officially based in Zug, the Lisk Foundation will secure and administer funds for the Lisk project. According to the official release, additional reporting on Lisk’s 2016 finances will be revealed before January 1, 2017.

“Since the conclusion of our ICO, the Lisk team has made a number of strategic investments, all within a strict legal framework, and many of which have begun to pay off. We have moved the core team to offices in Berlin, added an extraordinary board of advisors, hired key developers from across the world, created contests to grow our pool of delegates, set and paid bounties to contributors, secured the services of prominent marketers, established a long-term Community Fund, and diversified the Lisk Foundation's cryptocurrency portfolio”, Kordek said. “With the Foundation in place, we now have the team, the funding, and the community to realize the extraordinary promise of Lisk. We end 2016 ready for a tremendous year ahead, and the future for Lisk could not be more bright.”