March 24, 2025 Budget Meeting
Budget Committee Weekly Meeting Minutes
Date: March 24, 2025 Time: 11:57 AM EDT Duration: 1 hour, 8 minutes Chair: Prof. Steven Secretary: Lloyd Duhon
Attendance
Prof. Steven
Chair
Present
Lloyd Duhon
Budget Secretary
Present
Andreas Pletscher (for Rita M.)
Voting Member
Present
J.J. Siler
Voting Member
Present
Jose Velazquez
Voting Member
Present
Kriss Baird
Voting Member
Present
Kristijan Kowalsky
Voting Member
Present
Shunsuke Murasaki
Voting Member
Present
Jose Maria Otegui Alvarez (Pepe)
Voting Member
Arrived Late
Mercy
Voting Member
Arrived Late
Dave Dionisio
Contributor / Observer
Present
Jack Briggs
Contributor / Observer
Present
Lawrence Clark
Contributor / Observer
Present
Marc Gorman
Presenter – Budget Task Force
Present
Nicolas Cerny
Observer
Present
Simo Simovic
Observer
Present
Agenda Overview
Budget Ratification Task Force Update
Social Monitoring Update
Community Feedback on Budget Proposal
Requested Votes
Committee Budget
Net Change Limit (NCL)
Blog Post Review
Async Participation Reminder
Additional Discussion Items
Key Outcomes & Discussions
1. Budget Ratification Task Force Update
Presenter: Marc Gorman
Provided updates on process structure, tooling, and timelines.
Virtual and in-person reconciliation workshops planned:
Virtual: End of April
In-person: Tentative for May 3–4, Nairobi
Tooling in development for:
Community sentiment collection
DREP reconciliation voting
Smart contract-based treasury withdrawals
Budget Committee is asked to:
Amplify messages within their communities
Volunteer for reconciliation workshop design
Validate task force outputs
2. Social Monitoring Update
Presenter: Lloyd Duhon
Community feedback shows interest in lowering the Net Change Limit (NCL).
AMAs reveal high concern about potential delays in funding.
Misinformation: Some users still believe vendor form submission requires 100K ADA upfront—clarified as false.
3. Budget Proposal Feedback
Forum feedback was minimal.
Key points:
Some items should fall under Intersect operations instead of committees.
Budget Summit should possibly be merged with Cardano Summit.
Committee advised to clarify intent and structure in communications.
4. Requested Votes
a. Committee Budget Vote
Deferred for more feedback from community members.
b. Net Change Limit (NCL)
Jose Velazquez Raised a motion to reduce the previously approved NCL from 350M to 300M ADA.
Lawrence Clark updated the committee that the model projected 2024 treasury income = ~351M ADA.
Lawrence Clark ask how the number had been calculated, Jose Velazquez confirmed he had used data available online.
Lawrence Clark asked if the number calculated included with withdrawal of Catalyst finds in 2024? Jose confirmed he had not taken this into account.
Motion carried by unanimous vote to keep the NCL at 350m ada.
Outcome: NCL remains 350M ada.
c. Blog Post Endorsements
Jack Briggs presented two draft posts:
NCL rationale and framing
Overview of roles in the new process
Action on committee to review and feedback comments.
Committee encouraged to provide feedback prior to publication.
5. Async Participation
Committee reminded to:
Engage in Discord surveys and proposal discussions
Contribute to reconciliation design sprints
Stay responsive to midweek async updates
Action Items
Share DREP survey results
Marc Gorman
Include hybrid preference insights
Finalize and publish NCL
Lawrence Clark & Ryan
Target: March 25
Review and comment on blog posts
All committee members
See Discord thread
Volunteer for reconciliation design
Interested members
Contact Marc or Lawrence Clark
Gather and present additional line-item feedback
Jose Velazquez
Revisit next week
Next Steps
Finalize Nairobi logistics if approved for in-person workshop.
Launch public tooling and comms campaign by early April.
Set up additional touchpoints (briefings/workshops) with budget committee during reconciliation design phase.
Last updated