> For the complete documentation index, see [llms.txt](https://docs.charterfnd.com/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.charterfnd.com/the-charter-process/phase-5-release.md). # Phase 5: Release Once the token has launched successfully, the project transitions into full independence. At this stage, the Cayman Launch Company is converted into an independent Cayman Islands Foundation Company, which serves as the long-term governance and stewardship layer for the project. The BVI Launch Subsidiary automatically becomes a wholly-owned subsidiary of the Post-Launch Foundation, carrying all existing launch contracts with it. This entity is funded using proceeds from the launch and is designed to operate independently of the Charter Foundation. At this stage, Charter Foundation will resign as the sole director of the Post-Launch Foundation and new directors will need to be appointed. For ongoing directorship and fiduciary services, Charter recommends working with experienced providers such as Leeward Management Limited and Hash Directors, both of whom are familiar with digital asset structures and offshore governance requirements. Because the Cayman Launch Company converts directly into the Post-Launch Foundation, there is no need for a separate share transfer or restructuring step at the holding level. The BVI Launch Subsidiary, which has entered into the relevant launch contracts, automatically becomes a wholly-owned subsidiary of the Post-Launch Foundation - with existing agreements remaining in place and fully enforceable (subject to change in control provisions). At this point, the vessel leaves the dock under its own command, with no ongoing dependency on the Charter Foundation. The operational systems established at launch continue seamlessly into this long-term structure, ensuring continuity across distribution, vesting, and stakeholder management. At this stage, the Charter Foundation’s role is complete. The project moves forward independently, with a structure designed not just for launch, but for long-term operation and growth. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter, and the optional `goal` query parameter: ``` GET https://docs.charterfnd.com/the-charter-process/phase-5-release.md?ask=&goal= ``` `ask` is the immediate question: it should be specific, self-contained, and written in natural language. `goal` is optional and describes the broader end goal you are ultimately trying to accomplish on behalf of the user. GitBook uses it to tailor the answer towards what is most useful for that goal. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.