October 27th, 2025 Budget Comm Minutes

Budget Committee Weekly Meeting — October 27th, 2025

Date: October 27, 2025 Time: 07:57 EDT Duration: ~1 hour Attendees: Lloyd Duhon, Nicolas Cerny, Rita Mistry, Kriss Baird, Simo Simovic, Shunsuke Murasaki, Jose Velazquez

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1. Opening and Updates

Governance Updates

• Nicolas acknowledged Lloyd’s update and will raise relevant items with the Governance Advisory Team (Cardano Foundation).

• Emphasized that recent voting analyses are data-driven, supported by scripts and reporting mechanisms.

External Engagements

• Shunsuke has a meeting with Blockdaemon scheduled for Wednesday.

• Additional meetings include conversations with Florian and support for communication with Jazz/Hideki.

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2. Communications and DRep Engagement

X Space Details

• Kriss inquired about an X Space. Lloyd confirmed the session and shared:

  • Event link: https://luma.com/m8xydee0

  • Weekly overview: https://lu.ma/cardanobudgetprocess

  • Start time: approx. 3 hours, 45 minutes from meeting timestamp.

Voting Stake Insights

Nicolas shared updated data from his reporting tools:

• 67% active voting stake threshold: ~21 DReps required.

• 50% active voting stake: approx. 2.76B ADA.

• Example proposal references for discussion:

  • https://2025budget.intersectmbo.org/ballots/680d1b63565577986442d123/proposals/680d1b63565577986442d186

  • https://2025budget.intersectmbo.org/ballots/680d1b63565577986442d123/proposals/680d1b63565577986442d1a2

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3. Proposal Submission Deposit Discussion

Smart Contract Considerations

• Nicolas highlighted the importance of secure verification for proposal deposits (risks include unverifiable payment claims).

• Lloyd agreed, noting this aligns with constitutional expectations and reduces manual verification complexity.

Potential Implementation Path (Conceptual)

Lloyd proposed an initial direction for discussion:

• Use WordPress + CardanoPress + WPForms for submission.

• Require wallet connection and enforce that the deposit transaction originates from the same connected wallet.

• Explore embedding the proposal hash as an NFT for provenance.

Next Steps

• Rita recommended aligning this exploration with existing TWG thinking.

• Kriss noted that workflows outside a core UX path introduce friction and complexity.

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4. Scheduling and Coordination

Luma Calendar

• Simo shared updated Luma calendar management links:

  • https://luma.com/calendar/manage/cal-0UMMIi3iK2vDfjE

Process Presentation and Transparency

• Simo will present the Prioritization & Consolidation Polling Process Path to DReps via one-on-one sessions.

• A broader v1.1 budget process may later be shared publicly for stakeholder feedback.

• Rita and Nicolas agreed transparency is beneficial.

Time Zone Standardization

• Nicolas emphasized that all Intersect calls should be scheduled in UTC only, with participants responsible for converting times locally.

Shared Materials

• Shunsuke requested the spreadsheet Simo referenced; Simo shared:

  • https://docs.google.com/spreadsheets/d/1tSwnF296_U7oFDXN-lCXyr8Ps7zDULe1Whpzzeqsd3k/edit#gid=558729839

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5. Governance Cycle and Elections

• Nicolas shared the article on committee election voting:

  • https://intersectmbo.org/news/voting-in-the-committee-elections-october-2025

• Voting results expected: November 14.

• Nicolas recommended reviewing and updating meeting times once new committee members are confirmed.

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6. Attendance Notes

• Jose noted challenges joining at this time due to work; Lloyd thanked him for making the effort.

• Kriss, Rita, and Nicolas left early due to other commitments.

• Shunsuke noted he will not be able to join the evening X Space due to time constraints.

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7. Action Items

Action	Owner	Notes
Engage Governance Advisory Team for review	Nicolas	Ongoing
Blockdaemon meeting	Shunsuke	Scheduled for Wednesday
Provide spreadsheet to committee	Simo	Completed
Continue DRep 1:1 briefings	Simo	In progress
Evaluate smart-contract-based deposit flow	Lloyd, Nicolas, Rita	Requires TWG comparison and feedback
Standardize meetings to UTC	Committee	To be adopted moving forward
Reassess meeting schedule post-elections	Committee	After Nov 14

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8. Adjournment

Meeting concluded at approximately 1:04:47. Final note: Shunsuke unable to attend the evening X Space session.