# 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: * Weekly overview: * 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: * * *** ### **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: * *** ### **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** | 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 | *** ### **8. Adjournment** Meeting concluded at approximately **1:04:47**.\ Final note: Shunsuke unable to attend the evening X Space session.