Kraken's Ethereum L2 network Ink, along with the Ink Foundation, crypto market maker GSR, and several law firms and auditing organizations, has established the Charter Foundation to provide a unified legal framework for token issuance in crypto projects. The organization stated that by setting up a dedicated Cayman Islands company for each project, the upfront costs of token issuance can be reduced by more than half. The typical structure includes a lab company, a Cayman Islands foundation, and a British Virgin Islands issuance subsidiary, with costs potentially exceeding $100,000. Once the project completes its issuance, the related Cayman company will transition into an independent foundation and separate from the Charter Foundation. Ink Foundation clarified that the Charter Foundation is not affiliated with Kraken. (The Block) https://(wublock123.com)/news/ink-foundation-gsr-launch-charter-foundation-to-cut-token-issuance-costs-68116