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
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.
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.
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.
4. Scheduling and Coordination
Luma Calendar
Simo shared updated Luma calendar management links:
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
5. Governance Cycle and Elections
Nicolas shared the article on committee election voting:
Voting results expected: November 14.
Nicolas recommended reviewing and updating meeting times once new committee members are confirmed.
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.
7. Action Items
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
8. Adjournment
Meeting concluded at approximately 1:04:47. Final note: Shunsuke unable to attend the evening X Space session.
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