> For the complete documentation index, see [llms.txt](https://docs.usefarlight.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.usefarlight.com/compliance/corporate-structure.md).

# Foundation and operating company

Farlight Foundation and Farlight Labs, why they are separate, and the path from the timelocked multisig to a governance module.

Two entities stand behind Farlight, and they hold deliberately different things.

## Who holds what

| Entity                                | Responsibilities                                                                                                                                          |
| ------------------------------------- | --------------------------------------------------------------------------------------------------------------------------------------------------------- |
| **Farlight Foundation**               | Holds protocol governance and the immutable contracts. Controls the timelocked parameter multisig until the governance module takes over.                 |
| **Farlight Labs** (operating company) | Builds and operates the platform, the reference relayer, the indexer and the keeper software. Employs the team. Holds a licence wherever one is required. |

## Why two entities

* The contracts are immutable and non-custodial. Placing them under a foundation keeps protocol governance separate from the commercial interests of the company that builds around it.
* The operating company is the party that faces users through a front-end and holds licences where they are needed. Keeping it apart limits the regulatory surface the protocol itself carries.
* If the operating company ceased to exist, the protocol would keep running. The code is open source, and anyone can stand up a relayer, an indexer and a front-end from it.

## Governance, now and next

1. **Now:** the foundation's timelocked multisig makes parameter changes, and each proposal is published with its rationale.
2. **Next:** parameter control moves to a governance module. What matters carries over: the timelock, the public rationale, no access to funds, and no way to pause repayment.

The protocol token, $FARLIGHT, is live on Robinhood Chain at `0xe33ab021662e23f745be8e5b237babe8c7ad626c`. Supply is fixed, and governance cannot mint more. See [Parameter governance](/transparency/governance.md).


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