-1.70%
+1.67%
-6.75%
+0.19%
+5.86%
+1.34%
Community Approves Operational Shift
The January 21 announcement confirmed Figure will provide operational, technical, and administrative resources for the Foundation, which previously proposed the change in late December 2025. June Ou continues as Foundation Director, now supported by Figure’s infrastructure. CEO Michael Tannenbaum stated the “decentralized nature of Provenance Blockchain is core to our operating model.”
The governance model introduces network fees through revised HASH tokenomics designed to compensate validators and delegators. To address centralization concerns, both Figure and the Foundation pledged to abstain from voting any Foundation-controlled HASH tokens on governance matters.
Market Position and Holdings
- On-Chain Assets: Over $21 billion in real-world assets originated on Provenance Blockchain
- Figure’s HASH Stake: Approximately 25% of outstanding supply
- Blockchain Type: Cosmos SDK-based Layer 1 proof-of-stake network
Strategic Implications
The operational takeover deepens integration between Figure’s financial products and the Provenance Blockchain ecosystem. Figure recently launched its On-Chain Public Equity Network (OPEN) on Provenance, enabling blockchain-native equity listings through its Alternative Trading System. The company describes Provenance as “the largest public blockchain in the RWA space.”
While Figure emphasizes that governance remains community-controlled through on-chain voting, its 25% HASH holdings and new operational authority represent concentrated influence over the protocol. The Foundation maintains its mandate to support Provenance as an open, public Layer 1 network. Figure stated it expects no material incremental operating expenses from the new structure and anticipates improved HASH utility and awareness.
