Charter · 22 October 2026
The mission, inside the rules.
This page is a record of changes. It is not a lawyer’s letter, not a tax opinion, and not a determination by the Internal Revenue Service or any state.
What the model requires
Hederica is a cooperative aim for the exchange, and commentary for the book. The floor stays senior. The tape stays visible. A hidden print is still refused. The vote is one member, one vote, not the size of a holding.
Speculative profit is not the purpose. Members would record work done for one another. Surplus, if any, returns by use, after the floor. That record is not a mint, not a bank, not a credit union, and not a sale of tokens.
A charity is the wrong shell for that exchange. A 501(c)(3) serves the public and cannot be a members’ till. No exemption is claimed, and no cooperative has been incorporated. This page admits no members. The book can sit in a separate charity later, if counsel ever wants deductible gifts for teaching alone. It does not sit there now.
Changes made
- Hederica is a cooperative aim. One member, one vote. Surplus by use, after the floor. Not a 501(c)(3), not a credit union, and not yet incorporated. This site admits no members. An hour is not cash, a deposit, a security, or a token for sale. A Hedera timestamp records a deed and does not move money.
- The gift lines now say the wallet is personal. A transfer there is not a charitable contribution, not deductible, and buys nothing. No fiscal sponsor is named.
- Disclosures state the same limit: commentary and research, no offer, no promised return, no exemption.
- The seigniorage note is labeled an archive. It stays readable. It is not the live mission and not a solicitation to venture capital or to buyers.
- Tokens named on these pages stay references to other people’s instruments, or to design research. These pages do not issue them and do not sell them.
- The floor, the tape, and the refusal are unchanged. Compliance did not add a new mint.
What was left in place
The essays, the whitepaper, and the October 2026 seigniorage note remain, marked as research. Deleting a source would hide the record. A reader can still open them. A reader should not treat them as an offer.
Recommended next
- Counsel incorporates under a state cooperative statute when these rules can be kept. A working draft is on the bylaws page. It is not adopted. Do not also charter the same activity as a 501(c)(3). Do not call it a credit union.
- Do not solicit as a charity. A gift to a personal account is not a membership share and is not deductible. Deductible gifts, if they are ever wanted, belong to a separate organization that only teaches.
- Seat the members’ board before any wage. A manager is an employee. Pay is set in advance, compared, and written down. It is not a skim of hours and not a patronage dividend.
- Write the hour rules before any balance exists: one person, one hour; not sold; not bearing interest; not redeemable for cash; not transferable to strangers; no custody of dollars or tokens by the site. Have a money-transmitter and FinCEN reading before any hour can be cashed out. A timestamp is not a payment.
- Keep securities out. Do not sell a token, a share, or an expectation of profit from the work of others. Any named third-party tokens stay outside this issuance.
- Privacy on a public ledger: consent, the smallest record that still proves the deed, no sensitive categories, a pseudonym where the law allows. A good deed that names a child, a patient, or a debt does not belong in the clear.
- Separate volunteers from the wage. People giving hours are not employees because a ledger noticed them. The operator’s future W-2 is employment, and it is not paid in hours.
- Books, insurance, and a public annual note, even before exemption. An unpublished change is still not a change.
Nothing on this page is legal, tax, or investment advice. The next change that matters is a counsel’s, not another sentence on the site.