Proponents argue that foundations offer better alignment with tokenholders because foundations lack shareholders and can focus exclusively on maximizing network value.

But this theory overlooks how organizations actually function. Removing the equity-based incentives of corporations doesn’t eliminate misalignment — it often institutionalizes it. Without a profit motive, foundations lack clear feedback loops, direct accountability, and market-enforced discipline. The foundation funding model is one of patronage: Tokens are allocated and then sold for fiat, and that capital is spent without a clear mechanism to tie expenditures to outcomes.

People spending other people’s money, with minimal accountability, rarely optimize for impact.

...

A better, simpler alternative: Companies

https://rfc.decent.partners/t/mint-7-040-870-kab-to-decent-partners/73

This proposal aligns to ongoing work to create a legal and technical structure that links existing Kabocha tokens to equity or equity-like rights in Decent Partners Ltd potentially with programmable features, while ensuring compliance with existing and emerging regulations.

The primary aim is to iterate towards a model where tokens are bearer assets - representing legally enforceable rights/obligations in the Decent Partners network public company.