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Dubai Budget Presentation
The video covers an AMA (Ask Me Anything) session about the Cardano budget process, primarily led by Lloyd Duhon and Lawrence Clarke from the Budget Committee of Intersect. The discussion focused on a proposed budget of 300-500 million ADA for 2025. Key points included: the relationship between Intersect (the administration arm) and CDF (Cardano Development Foundation, the fund-holding entity); the socialization process for the budget; concerns about centralization; and transparency measures. The speakers emphasized that this is the beginning of the socialization process, not final decisions. Multiple participants raised concerns about governance structure, transparency, and the need for clearer communication. The session addressed questions about audit processes, contingency plans, and civil resistance in voting mechanisms. The speakers confirmed that external audits would be implemented and that the budget process would include multiple layers of oversight.
Key Points
Introduction and Setup of AMA Session
The session began with Lloyd Duhon and Lawrence Clarke from the Budget Committee joining, along with 47 initial participants out of 80 who had signed up. The meeting was moved from Google Meet to Zoom due to technical considerations for handling multiple participants.
Overview of Intersect and CDF Structure
Lawrence Clarke explained that Intersect administers the Cardano Development Foundation (CDF), which holds the funds. He clarified that these are two separate entities, with Intersect serving as the administration arm while CDF holds the money.
Budget Process and Initial Concerns
Lloyd Duhon emphasized that this was just the beginning of the socialization process, not final decisions. He explained that committees within Intersect are collating budgets around their remits, focusing on core development, research, meetups, and Project Catalyst.
Discussion of Budget Range and Process
The speakers addressed concerns about the 300-500 million ADA range, explaining it was determined by treasurers within the Cardano community as a safe spending zone. They emphasized that this was not an arbitrary limit but based on available resources and community needs.
Governance and Transparency Concerns
Multiple participants, including Patrick and Florian, raised concerns about centralization and transparency. The discussion covered the need for clearer processes, strategy documentation, and involvement of builders in the ecosystem.
Audit and Accountability Measures
Lawrence Clarke outlined a multi-layer audit approach, including internal audits, member reviews, and external audits. They confirmed that financial information would be made publicly available and that quarterly meetings would be held with D-reps for oversight.
Cardano Budget Process AMA Session #1 - November 2024
The video covers an AMA (Ask Me Anything) session about the Cardano budget process, primarily led by Lloyd Duhon and Lawrence Clarke from the Budget Committee of Intersect. The discussion focused on a proposed budget of 300-500 million ADA for 2025. Key points included: the relationship between Intersect (the administration arm) and CDF (Cardano Development Foundation, the fund-holding entity); the socialization process for the budget; concerns about centralization; and transparency measures. The speakers emphasized that this is the beginning of the socialization process, not final decisions. Multiple participants raised concerns about governance structure, transparency, and the need for clearer communication. The session addressed questions about audit processes, contingency plans, and civil resistance in voting mechanisms. The speakers confirmed that external audits would be implemented and that the budget process would include multiple layers of oversight.
Key Points
Introduction and Setup of AMA Session
The session began with Lloyd Duhon and Lawrence Clarke from the Budget Committee joining, along with 47 initial participants out of 80 who had signed up. The meeting was moved from Google Meet to Zoom due to technical considerations for handling multiple participants.
Overview of Intersect and CDF Structure
Lawrence Clarke explained that Intersect administers the Cardano Development Foundation (CDF), which holds the funds. He clarified that these are two separate entities, with Intersect serving as the administration arm while CDF holds the money.
Budget Process and Initial Concerns
Lloyd Duhon emphasized that this was just the beginning of the socialization process, not final decisions. He explained that committees within Intersect are collating budgets around their remits, focusing on core development, research, meetups, and Project Catalyst.
Discussion of Budget Range and Process
The speakers addressed concerns about the 300-500 million ADA range, explaining it was determined by treasurers within the Cardano community as a safe spending zone. They emphasized that this was not an arbitrary limit but based on available resources and community needs.
Governance and Transparency Concerns
Multiple participants, including Patrick and Florian, raised concerns about centralization and transparency. The discussion covered the need for clearer processes, strategy documentation, and involvement of builders in the ecosystem.
Audit and Accountability Measures
Lawrence Clarke outlined a multi-layer audit approach, including internal audits, member reviews, and external audits. They confirmed that financial information would be made publicly available and that quarterly meetings would be held with D-reps for oversight.
Cardano Budget Process AMA Session #2 - November 2024
The video covers an AMA (Ask Me Anything) session about the Cardano budget process, primarily led by Lloyd Duhon and Lawrence Clarke from the Budget Committee of Intersect. The discussion focused on a proposed budget of 300-500 million ADA for 2025. Key points included: the relationship between Intersect (the administration arm) and CDF (Cardano Development Foundation, the fund-holding entity); the socialization process for the budget; concerns about centralization; and transparency measures. The speakers emphasized that this is the beginning of the socialization process, not final decisions. Multiple participants raised concerns about governance structure, transparency, and the need for clearer communication. The session addressed questions about audit processes, contingency plans, and civil resistance in voting mechanisms. The speakers confirmed that external audits would be implemented and that the budget process would include multiple layers of oversight.
Key Points
Introduction and Setup of AMA Session
The session began with Lloyd Duhon and Lawrence Clarke from the Budget Committee joining, along with 47 initial participants out of 80 who had signed up. The meeting was moved from Google Meet to Zoom due to technical considerations for handling multiple participants.
Overview of Intersect and CDF Structure
Lawrence Clarke explained that Intersect administers the Cardano Development Foundation (CDF), which holds the funds. He clarified that these are two separate entities, with Intersect serving as the administration arm while CDF holds the money.
Budget Process and Initial Concerns
Lloyd Duhon emphasized that this was just the beginning of the socialization process, not final decisions. He explained that committees within Intersect are collating budgets around their remits, focusing on core development, research, meetups, and Project Catalyst.
Discussion of Budget Range and Process
The speakers addressed concerns about the 300-500 million ADA range, explaining it was determined by treasurers within the Cardano community as a safe spending zone. They emphasized that this was not an arbitrary limit but based on available resources and community needs.
Governance and Transparency Concerns
Multiple participants, including Patrick and Florian, raised concerns about centralization and transparency. The discussion covered the need for clearer processes, strategy documentation, and involvement of builders in the ecosystem.
Audit and Accountability Measures
Lawrence Clarke outlined a multi-layer audit approach, including internal audits, member reviews, and external audits. They confirmed that financial information would be made publicly available and that quarterly meetings would be held with D-reps for oversight.
Cardano Budget Process AMA #3: Product Committee
The video covers an AMA (Ask Me Anything) session about the Cardano budget process, primarily led by Lloyd Duhon and Lawrence Clarke from the Budget Committee of Intersect. The discussion focused on a proposed budget of 300-500 million ADA for 2025. Key points included: the relationship between Intersect (the administration arm) and CDF (Cardano Development Foundation, the fund-holding entity); the socialization process for the budget; concerns about centralization; and transparency measures. The speakers emphasized that this is the beginning of the socialization process, not final decisions. Multiple participants raised concerns about governance structure, transparency, and the need for clearer communication. The session addressed questions about audit processes, contingency plans, and civil resistance in voting mechanisms. The speakers confirmed that external audits would be implemented and that the budget process would include multiple layers of oversight.
Key Points
Introduction and Setup of AMA Session
The session began with Lloyd Duhon and Lawrence Clarke from the Budget Committee joining, along with 47 initial participants out of 80 who had signed up. The meeting was moved from Google Meet to Zoom due to technical considerations for handling multiple participants.
Overview of Intersect and CDF Structure
Lawrence Clarke explained that Intersect administers the Cardano Development Foundation (CDF), which holds the funds. He clarified that these are two separate entities, with Intersect serving as the administration arm while CDF holds the money.
Budget Process and Initial Concerns
Lloyd Duhon emphasized that this was just the beginning of the socialization process, not final decisions. He explained that committees within Intersect are collating budgets around their remits, focusing on core development, research, meetups, and Project Catalyst.
Discussion of Budget Range and Process
The speakers addressed concerns about the 300-500 million ADA range, explaining it was determined by treasurers within the Cardano community as a safe spending zone. They emphasized that this was not an arbitrary limit but based on available resources and community needs.
Governance and Transparency Concerns
Multiple participants, including Patrick and Florian, raised concerns about centralization and transparency. The discussion covered the need for clearer processes, strategy documentation, and involvement of builders in the ecosystem.
Audit and Accountability Measures
Lawrence Clarke outlined a multi-layer audit approach, including internal audits, member reviews, and external audits. They confirmed that financial information would be made publicly available and that quarterly meetings would be held with D-reps for oversight.
Cardano Budget Committee AMA #4: Saturday AMA
The video covers a Saturday budget meeting for Cardano’s intersect organization, focusing on the 2025 budget process and implementation. Lloyd and Lawrence led the discussion, explaining how intersect manages treasury withdrawals and committee funding. Key points included: the current socialization phase of the budget process, committee roles in fund allocation, and transparency measures. The speakers clarified that intersect doesn’t rely on Catalyst funding, with 52% of core development in 2024 coming from IO Engineering and 48% from other vendors. They discussed plans for stipending committee members in 2025, and explained how the Cardano Development Foundation (to be renamed Cardano Development Holdings) will manage treasury withdrawals through the Zodiac custodian. The meeting also addressed questions about audit processes, transparency tools, and comparisons with other blockchain foundations’ budgets.
Key Points
Meeting Introduction and Ground Rules
Lloyd opened the Saturday session, scheduled for 60 minutes, establishing meeting principles including turn-taking, question formatting, and time management. Participants were instructed to use the ‘question’ prefix in chat and maintain two-minute speaking limits. The format included an initial brief followed by community questions and wrap-up.
Budget Process Current Status and Next Steps
Lawrence and Lloyd explained the current socialization phase, where committees are collecting and presenting proposals. The Product Committee presented the previous Wednesday, with Technical Steering Committee (TSC) scheduled for the following Tuesday. The process involves collecting committee requests, presenting to DReps, and requiring 51% DRep approval for budget implementation.
Role of MCC and Committee Structure
Discussion clarified that MCC approves grant categories rather than individual grants. Intersect facilitates the process while avoiding duplication of Catalyst’s role. The speakers emphasized that intersect aims to be an intersection point rather than a development company, with 52% of 2024 core development from IO Engineering and 48% from other vendors.
Financial Management and Transparency
Lawrence detailed plans for financial management through the Cardano Development Foundation (to be renamed Cardano Development Holdings), using Zodiac as custodian. They discussed implementing blockchain-enabled accounting tools and transparency measures, with all developed tools becoming open source. The budget includes provisions for committee stipends and working group funding in 2025.
Audit and Oversight Processes
The speakers outlined plans for both traditional fiat auditing through major firms and blockchain-specific auditing for Ada transactions. They explained that audit costs would be covered by intersect’s service fees, including staff support, procurement, legal contracts, and technical auditing elements.
Cardano Budget Committee AMA #5: Product Committee
The video covers an AMA (Ask Me Anything) session about the Cardano budget process, primarily led by Lloyd Duhon and Lawrence Clarke from the Budget Committee of Intersect. The discussion focused on a proposed budget of 300-500 million ADA for 2025. Key points included: the relationship between Intersect (the administration arm) and CDF (Cardano Development Foundation, the fund-holding entity); the socialization process for the budget; concerns about centralization; and transparency measures. The speakers emphasized that this is the beginning of the socialization process, not final decisions. Multiple participants raised concerns about governance structure, transparency, and the need for clearer communication. The session addressed questions about audit processes, contingency plans, and civil resistance in voting mechanisms. The speakers confirmed that external audits would be implemented and that the budget process would include multiple layers of oversight.
Key Points
Introduction and Setup of AMA Session
The session began with Lloyd Duhon and Lawrence Clarke from the Budget Committee joining, along with 47 initial participants out of 80 who had signed up. The meeting was moved from Google Meet to Zoom due to technical considerations for handling multiple participants.
Overview of Intersect and CDF Structure
Lawrence Clarke explained that Intersect administers the Cardano Development Foundation (CDF), which holds the funds. He clarified that these are two separate entities, with Intersect serving as the administration arm while CDF holds the money.
Budget Process and Initial Concerns
Lloyd Duhon emphasized that this was just the beginning of the socialization process, not final decisions. He explained that committees within Intersect are collating budgets around their remits, focusing on core development, research, meetups, and Project Catalyst.
Discussion of Budget Range and Process
The speakers addressed concerns about the 300-500 million ADA range, explaining it was determined by treasurers within the Cardano community as a safe spending zone. They emphasized that this was not an arbitrary limit but based on available resources and community needs.
Governance and Transparency Concerns
Multiple participants, including Patrick and Florian, raised concerns about centralization and transparency. The discussion covered the need for clearer processes, strategy documentation, and involvement of builders in the ecosystem.
Audit and Accountability Measures
Lawrence Clarke outlined a multi-layer audit approach, including internal audits, member reviews, and external audits. They confirmed that financial information would be made publicly available and that quarterly meetings would be held with D-reps for oversight.
Cardano Budget Committee AMA #6: Technical Steering Committee
The video covers AMA session #6 for the Cardano Budget Committee, focusing on the Technical Steering Committee (TSC) of Intersect and their goals for 2025. Matt Davis, who leads technical operations at Intersect, presented the TSC budget process and implementation plans. Key points included the infrastructure roadmap working group’s efforts since August, the product committee’s goal-setting, and the community prioritization process for 2025 projects. The TSC’s scope primarily covers Cardano continuity, defined as technical services needed for the blockchain’s core functionality. The presentation outlined five major goals and associated projects, with an emphasis on open-source development and community involvement. A notable proposal included keeping approximately 30% of the budget uncommitted for flexibility. The process includes a survey open until December 6th, 2024, for community feedback on project prioritization. The session also addressed procurement processes, conflict of interest policies, and code review procedures for funded projects.
Key Points
Introduction and Meeting Principles
The session began with the host introducing AMA session #6 for the Cardano Budget Committee. Meeting principles were established, including one speaker at a time, question formatting in chat (using ‘question:’ prefix), and a two-minute time limit for responses. The 60-minute session structure was outlined, with time allocated for presentation, Q&A, and final steps discussion.
TSC Background and Process Overview
Matt Davis introduced the TSC budget process, explaining the infrastructure roadmap working group’s role since August and the product committee’s involvement. He emphasized the importance of community prioritization in ranking goals and projects for 2025, with continuous review processes throughout the year.
TSC Scope and Project Implementation
The TSC’s scope was defined as focusing on Cardano continuity, including core blockchain development and improvements. The presentation outlined the process for project submission, review, and implementation, with emphasis on open tender processes and community involvement in project selection.
Goals and Projects Discussion
Five major goals were presented, each with associated projects. Projects included Ouroboros Leios, transaction finality improvements, Hydra, Mithril, and various governance improvements. The TSC proposed keeping 30% of the budget uncommitted for flexibility and future opportunities.
Q&A and Closing Remarks
The session concluded with questions about conflict of interest policies, code review procedures, and community involvement. The TSC emphasized their openness to feedback and announced a survey open until December 6th, 2024, for community input on project prioritization. Future AMA sessions were announced for broader community engagement.
Cardano Budget Committee AMA #7: MCC and OSC
The video covers the sixth session of the Cardano budget open process, featuring presentations from the Membership and Community Committee (MCC) and Open Source Committee (OSC) of Intersect. Key discussions included the MCC’s budget allocation for events, education, and community support, with Nori presenting their high-level budget categories. A significant portion focused on the Marketing Working Group’s proposal requesting 12% of the total Cardano 2025 budget, which sparked debate when Adam Dean highlighted concerns about the operational costs (1.8% of global budget). The session then transitioned to Tex’s presentation of the OSC’s budget proposal, focusing on open source development initiatives, maintainer programs, and 24/7 security support for Cardano core. The discussions emphasized the importance of distinguishing between different committees’ event planning and ensuring proper allocation of resources for community development.
Key Points
Meeting Introduction and Principles
The session began with an introduction to the sixth Cardano budget open process meeting. The speaker outlined meeting principles, including focused discussion format and instructions for participants to either raise virtual hands or use the prefix ‘QUESTION’ in chat for queries.
MCC Budget Presentation and Marketing Working Group Discussion
Nori presented the MCC’s high-level budget categories. The marketing working group, led by Simon, proposed taking 12% of the total Cardano 2025 budget, with 80% for marketing initiatives, 15% for operational budget, and 5% for oversight. This sparked significant discussion, particularly when Adam Dean raised concerns about the 1.8% global budget allocation for operational costs.
Intersect Membership and Hub Discussion
James Barclay initiated discussion about Intersect membership growth, focusing on individual and company memberships. The conversation covered the development of local hubs, particularly successful implementations in Japan and Sri Lanka, and strategies for making hubs self-sufficient.
Open Source Committee Presentation
Tex, as secretary for the Open Source Committee, presented their budget proposal focusing on maintainer retainer programs, core operations, and 24/7 security maintenance. The presentation emphasized community integration, project support services, and the implementation of a code bounty system for core Cardano and other projects.
Q&A and Closing Remarks
The session concluded with questions about distinguishing between MCC and OSC events, clarification on security maintenance support levels, and discussion of emergency support for layer one and layer two. Lawrence wrapped up the session by requesting follow-up meetings regarding the marketing working group proposal.
Cardano Budget Committee AMA #8: Late Night Fireside
The video covers a budget process discussion session for Cardano, led by Lloyd (presumably a key figure in the budget committee). The session addresses various aspects of the 2025 annual budget process, including committee presentations, treasury withdrawals, and dispute resolution mechanisms. Key points discussed include: four committees (Product, TSC, OSC, and MCC) have presented their materials; the impact of ADA price fluctuations on budget management; the use of stable coins for treasury management; plans for multilingual communication of budget information; and the incorporation of dispute resolution mechanisms in contracts. Lloyd mentions that the process is moving according to schedule, with more AMA sessions planned before and after the Buenos Aires event. The discussion also touched on how the budget process would adapt to potential constitutional changes and the mechanisms for treasury withdrawals, with consideration given to both annual and quarterly withdrawal options.
Key Points
Introduction and Session Overview
Lloyd opens the session from Central Florida, explaining this is an evening session to accommodate different time zones. He outlines the basic rules for participation, including raising virtual hands and prefixing questions with ‘question’ in the chat.
Current Budget Status Update
Lloyd provides an update on the budget process, noting that four committees have presented their materials (Product, TSC, OSC, and MCC). He mentions upcoming events in Buenos Aires and plans for additional AMA sessions in December.
Treasury Management and Stable Coins
Discussion covers the use of stable coins for treasury management, with Lloyd explaining how they could help maintain funds on-chain while addressing liquidity concerns. He notes current limitations in Cardano’s stable coin liquidity but expresses optimism about future possibilities.
Budget Implementation and Withdrawal Process
Lloyd details the process for treasury withdrawals, explaining how the timing would depend on the net change limit and D-reps’ decisions. He discusses the importance of strategic timing for ADA conversions and the need for professional treasury management.
Dispute Resolution Mechanisms
The final segment addresses dispute resolution processes, with Lloyd explaining that all treasury fund recipients must sign contracts including dispute resolution clauses. He emphasizes the hybrid nature of Cardano’s governance system, being neither purely corporate nor state-like, and the importance of having clear dispute resolution mechanisms.
Cardano Budget Process 9: Civics Committee
The video covers a Cardano Budget Committee AMA session (#9) featuring members of the Cardano Civics Committee (Nico, Adam, and Jose). The discussion focuses on their plans for 2025 and their role in ensuring Cardano’s governance remains accessible, fair, and transparent. The committee, established in 2024, works to support governance participants, steward governance processes, and facilitate improvements. Key highlights include their approach to supporting DReps, constitutional committee members, and SPOs, plans for implementing governance tools, and the importance of community engagement. The speakers emphasize their role as facilitators rather than leaders, with a particular focus on education and accessibility. The discussion also addresses potential collaboration with other committees, particularly the MCC, and the controversial topic of DRep compensation, which they approach from a research-based perspective.
Key Points
Introduction and Committee Overview
The session begins with introductions of Cardano Civics Committee members Nico, Adam, and Jose. Nico explains that the committee, formed in July 2024, focuses on ensuring Cardano governance is accessible, fair, and transparent. Adam and Jose provide historical context, describing how the committee evolved from initial governance discussions around SIP 1694 to its current form with elected members.
Support for Governance Participants
The committee outlines their first key pillar for 2025: supporting governance participants including DReps, constitutional committee members, SPOs, and Ada holders. They emphasize the importance of education, tooling development, and making governance accessible in multiple languages. The speakers stress their role as facilitators rather than controllers of the governance process.
Stewarding Governance Process
Discussion moves to the second pillar focusing on governance process stewardship, including the constitutional convention follow-up, transition from interim to permanent constitutional committee, and oversight of governance tooling development. Jose emphasizes that their budget isn’t solely for internal tool development but also for mapping community needs and supporting external initiatives.
Cross-Committee Collaboration and Future Plans
The final segment addresses collaboration between committees, particularly with MCC, and the controversial topic of DRep compensation. The speakers emphasize the need for research-based approaches to compensation and highlight their role in facilitating rather than dictating governance decisions. They conclude by stressing the importance of increased Ada holder participation in governance.
Cardano Budget Process 11 - MCC and OSC
The video covers an AMA (Ask Me Anything) session about the Cardano budget process, primarily led by Lloyd Duhon and Lawrence Clarke from the Budget Committee of Intersect. The discussion focused on a proposed budget of 300-500 million ADA for 2025. Key points included: the relationship between Intersect (the administration arm) and CDF (Cardano Development Foundation, the fund-holding entity); the socialization process for the budget; concerns about centralization; and transparency measures. The speakers emphasized that this is the beginning of the socialization process, not final decisions. Multiple participants raised concerns about governance structure, transparency, and the need for clearer communication. The session addressed questions about audit processes, contingency plans, and civil resistance in voting mechanisms. The speakers confirmed that external audits would be implemented and that the budget process would include multiple layers of oversight.
Key Points
Introduction and Setup of AMA Session
The session began with Lloyd Duhon and Lawrence Clarke from the Budget Committee joining, along with 47 initial participants out of 80 who had signed up. The meeting was moved from Google Meet to Zoom due to technical considerations for handling multiple participants.
Overview of Intersect and CDF Structure
Lawrence Clarke explained that Intersect administers the Cardano Development Foundation (CDF), which holds the funds. He clarified that these are two separate entities, with Intersect serving as the administration arm while CDF holds the money.
Budget Process and Initial Concerns
Lloyd Duhon emphasized that this was just the beginning of the socialization process, not final decisions. He explained that committees within Intersect are collating budgets around their remits, focusing on core development, research, meetups, and Project Catalyst.
Discussion of Budget Range and Process
The speakers addressed concerns about the 300-500 million ADA range, explaining it was determined by treasurers within the Cardano community as a safe spending zone. They emphasized that this was not an arbitrary limit but based on available resources and community needs.
Governance and Transparency Concerns
Multiple participants, including Patrick and Florian, raised concerns about centralization and transparency. The discussion covered the need for clearer processes, strategy documentation, and involvement of builders in the ecosystem.
Audit and Accountability Measures
Lawrence Clarke outlined a multi-layer audit approach, including internal audits, member reviews, and external audits. They confirmed that financial information would be made publicly available and that quarterly meetings would be held with D-reps for oversight.
Cardano Budget Process 10 - Technical Steering Committee
The video covers an AMA (Ask Me Anything) session about the Cardano budget process, primarily led by Lloyd Duhon and Lawrence Clarke from the Budget Committee of Intersect. The discussion focused on a proposed budget of 300-500 million ADA for 2025. Key points included: the relationship between Intersect (the administration arm) and CDF (Cardano Development Foundation, the fund-holding entity); the socialization process for the budget; concerns about centralization; and transparency measures. The speakers emphasized that this is the beginning of the socialization process, not final decisions. Multiple participants raised concerns about governance structure, transparency, and the need for clearer communication. The session addressed questions about audit processes, contingency plans, and civil resistance in voting mechanisms. The speakers confirmed that external audits would be implemented and that the budget process would include multiple layers of oversight.
Key Points
Introduction and Setup of AMA Session
The session began with Lloyd Duhon and Lawrence Clarke from the Budget Committee joining, along with 47 initial participants out of 80 who had signed up. The meeting was moved from Google Meet to Zoom due to technical considerations for handling multiple participants.
Overview of Intersect and CDF Structure
Lawrence Clarke explained that Intersect administers the Cardano Development Foundation (CDF), which holds the funds. He clarified that these are two separate entities, with Intersect serving as the administration arm while CDF holds the money.
Budget Process and Initial Concerns
Lloyd Duhon emphasized that this was just the beginning of the socialization process, not final decisions. He explained that committees within Intersect are collating budgets around their remits, focusing on core development, research, meetups, and Project Catalyst.
Discussion of Budget Range and Process
The speakers addressed concerns about the 300-500 million ADA range, explaining it was determined by treasurers within the Cardano community as a safe spending zone. They emphasized that this was not an arbitrary limit but based on available resources and community needs.
Governance and Transparency Concerns
Multiple participants, including Patrick and Florian, raised concerns about centralization and transparency. The discussion covered the need for clearer processes, strategy documentation, and involvement of builders in the ecosystem.
Audit and Accountability Measures
Lawrence Clarke outlined a multi-layer audit approach, including internal audits, member reviews, and external audits. They confirmed that financial information would be made publicly available and that quarterly meetings would be held with D-reps for oversight.
Cardano Budget Process 12 - Civics and Product Committee
The video covers a Cardano Budget Committee meeting (#73) featuring presentations from two committees: Product Committee and Civics Committee. Sam Leathers, chair of the Product Committee, presented their vision for 2025, breaking down research buckets into vision creation, academic research, product research, and overhead. The committee emphasized increasing Cardano usage through governance evolution, scalability, and interoperability. Kyle discussed product research focusing on data-driven decisions and ecosystem sustainability. For the Civics Committee, Steen and Nicholas presented their focus on supporting governance participants (DReps, CC members, SPOs, and Ada holders) and improving governance processes. Key metrics discussed included SPO participation rates (currently at 7% for Plutus info action) and the requirement of 51% stake participation for the upcoming Plommon hard fork. The session concluded with discussions about holiday schedules and upcoming governance actions.
Key Points
Product Committee Introduction and Vision
Sam Leathers, Product Committee chair, presented their key aims including creating a 2025 Cardano roadmap and 5-year vision. The committee divided their focus into four buckets: vision creation, academic research, product research, and overhead. Their main goal is to increase Cardano usage through improved governance, scalability, and interoperability.
Academic Research and World’s Operating System
Sam detailed the academic research bucket, focusing on positioning Cardano as a leading third-generation blockchain. Key areas include the world’s operating system, Ouroboros Omega consensus mechanism, tokenomics, global identity management, Democracy 4.0, internet hydrated protocols, and interchain capabilities.
Product Research and Market Analysis
Kyle presented on product research, emphasizing the need for data-driven decisions to achieve market fit. The focus is on identifying transaction volume targets, price relationships with ADA, and transaction fees to ensure ecosystem sustainability as reward reserves deplete.
Civics Committee Presentation
Steen and Nicholas presented the Civics Committee’s focus on supporting governance participants, including DReps, Constitutional Committee members, SPOs, and Ada holders. They emphasized the importance of accessibility, multi-language support, and proper tooling for governance participation.
Governance Implementation and Future Plans
The session concluded with discussions about upcoming governance actions, including the Plommon hard fork requiring 51% stake participation, and the net change limit info action. Lawrence and others emphasized the importance of SPO participation and outlined holiday schedules for governance activities.
Cardano Budget Process Open Session 06 Feb 2025
The video covers an AMA (Ask Me Anything) session about the Cardano budget process, primarily led by Lloyd Duhon and Lawrence Clarke from the Budget Committee of Intersect. The discussion focused on a proposed budget of 300-500 million ADA for 2025. Key points included: the relationship between Intersect (the administration arm) and CDF (Cardano Development Foundation, the fund-holding entity); the socialization process for the budget; concerns about centralization; and transparency measures. The speakers emphasized that this is the beginning of the socialization process, not final decisions. Multiple participants raised concerns about governance structure, transparency, and the need for clearer communication. The session addressed questions about audit processes, contingency plans, and civil resistance in voting mechanisms. The speakers confirmed that external audits would be implemented and that the budget process would include multiple layers of oversight.
Key Points
Introduction and Setup of AMA Session
The session began with Lloyd Duhon and Lawrence Clarke from the Budget Committee joining, along with 47 initial participants out of 80 who had signed up. The meeting was moved from Google Meet to Zoom due to technical considerations for handling multiple participants.
Overview of Intersect and CDF Structure
Lawrence Clarke explained that Intersect administers the Cardano Development Foundation (CDF), which holds the funds. He clarified that these are two separate entities, with Intersect serving as the administration arm while CDF holds the money.
Budget Process and Initial Concerns
Lloyd Duhon emphasized that this was just the beginning of the socialization process, not final decisions. He explained that committees within Intersect are collating budgets around their remits, focusing on core development, research, meetups, and Project Catalyst.
Discussion of Budget Range and Process
The speakers addressed concerns about the 300-500 million ADA range, explaining it was determined by treasurers within the Cardano community as a safe spending zone. They emphasized that this was not an arbitrary limit but based on available resources and community needs.
Governance and Transparency Concerns
Multiple participants, including Patrick and Florian, raised concerns about centralization and transparency. The discussion covered the need for clearer processes, strategy documentation, and involvement of builders in the ecosystem.
Audit and Accountability Measures
Lawrence Clarke outlined a multi-layer audit approach, including internal audits, member reviews, and external audits. They confirmed that financial information would be made publicly available and that quarterly meetings would be held with D-reps for oversight.