Cosmos continues spin-off: ICF Foundation R & D team splits into independent company Informal

The Interchain Foundation (ICF), a foundation supporting cross-chain project Cosmos development and ecological construction, announced that it will split its R & D team and form an independent company registered in Canada, Informal Systems. The company will continue to conduct Cosmos network related software and protocols with an independent architecture. Development work. Informal Systems is headquartered in Toronto and has offices in Vienna, Lucerne and Berlin. Cosmos co-founder Ethan Buchma and former ICF technical director will serve as the company's CEO, and former ICF managing director Arianne Flemming and research leader Zarko Milosevic will join the company. The company focuses on research and development in distributed systems and formal verification. The company's initial funding will come from the ICF. The ICF Foundation will inject funds into Informal Systems through convertible bonds, software development contracts, and research funding. Informal Systems will formalize the verification of Tendermint and Cosmos systems according to the contract and funding direction. , Rust development and protocol research.