title: Appointment of Leeward Supervisors as Supervisor of the CoW Foundation
author: Kowrigan
status: Active
created: 21 July 2025
Referenced CIPs:
Simple Summary
This proposal aims at nominating Leeward Supervisors Limited as the sole supervisor of CoW Foundation.
Motivation
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Supervisor mandate completed. Travers Thorp Alberga Supervisor’s (TTA) original brief was to oversee incorporation of the Foundation under CIP‑64 — a task that is now finished.
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Service‑provider consolidation. Leeward already serves as Secretary and corporate‑services provider; assigning the supervisory role to the same firm reduces coordination overhead and costs. TTA had given their resignation as Supervisor, creating a vacancy following which the Director has appointed Leeward Management Limited as the temporary Supervisor pursuant to the Articles of Association of the Foundation. It is recommended that Leeward Management Supervisors Limited continues to acts as Supervisor going forward.
Specification
Change of Supervisor
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Appointment. The Director shall appoint Leeward Supervisors Limited as sole Supervisor with immediate effect upon approval of this CIP.
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Fees. Annual supervisory fees of USD 5000 per year will be paid from the running‑costs budget already approved in CIP‑64; no extra budget is requested.
Rationale
- Cost Efficiency. Consolidating Secretary and Supervisor roles under Leeward eliminates duplicate retainer fees while strengthening local substance.
Backward Compatibility
No changes to smart contracts, protocol logic nor treasury. All updates are off‑chain corporate actions.