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This is what I tried to do a year or two ago before I got blindsided.
Start here. When you reach the end, follow the links and keep reading.
Social.coop: A Cooperative Decentralized Social Network
Social.coop is a cooperatively run instance of Mastodon, a decentralized social network based on open protocols and free, open-source…
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You were thinking of having some cooperativley run servers for Hubzilla?
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I was thinking of turning the entire project into a cooperative; as a workable business and organisational model.
I started down this path with some rules of governance which were taken directly from successful co-ops. Unfortunately that was about the time of the 'blabla' rebellion and I had to re-assert control to try and keep the community from fragmenting. Now I'm working outside the project so if such a move were to be attempted again it would probably have to come from within. It would be a refreshing change from the dictatorial or Stallmanesque or corporate-sponsored open source models that are prevalent today - and I've seen cooperatives thrive here in Oz.
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All that stuff about BlaBlaNet and now it's totally offline as far as I can tell.