Philip DiSarro - Board
What is your experiences within Intersect and Cardano?
Initial board member of open-source committee. I founded Anastasia Labs, a blockchain research and development firm that specializes in protocol security auditing and blockchain scaling research. Anastasia Labs currently has 11 full time employees and yearly revenue exceeding $2M USD.
Last time a large-scale network attack was conducted on Cardano, I stopped the attack and looted their funds in the process.
Do you have any other Cardano affiliations or possible conflicts of interests, including you as an individual or an enterprise you are associated with?
I work with IOG as a smart contract developer on the DJED team. Although my application for this board seat is as an individual.
Are you currently in receipt of or previously received any Intersect or Cardano funding or grant?
Anastasia Labs, the company which I founded, has received many grants from Project Catalyst, you can view them here:
https://projectcatalyst.io/search?q=Anastasia+Labs&sort=relevance%2CDESC&type=projects&status=Completed&status=Pending Personally, I have not received any of these funds.
What do you think the MBO’s primary strategic goals and objectives are or should be for the next 3-5 years?
Participate in Cardano's Governance. Heavily support member contributions to ensure that Intersect is providing value to the ecosystem and therefore justify governance proposals to request funding from the treasury to extend the MBO's financial runway. Especially early on, the MBO's priority needs to be maximizing the amount of value provided to members and the Cardano community at large to establish a strong track record that can legitimize further funding requests.
The MBO should simultaneously be seeking other sourcing of funding and working to reduce and maintain a low burn rate. One of the most important strategic goals to this end is to expand, polish and heavily market the MBO's grant system. The grant system is the primary method through which the MBO produces tangible deliverables to the Cardano ecosystem (which help legitimize the MBO in the eyes of the community). Min/maxing the value produced vs cost of these grants will be extremely important to achieving sustainability. Everything needs to be framed as a work package, first we decide what we want to be done and then we open applications so that suitable entities can bid for that work. This way, we have a competitive market that ensures we get a fair deal (in terms of payment for work done) because firms will have to adjust their rates to compete and the best price/quality candidate with the most equitable terms will be awarded the work. The more exposure this grant system has, the more firms will participate, which creates a more competitive market from which the MBO can get the best value per $.
Can you describe the current composition of the Board and the skills and experience gaps that the organization is looking to fill?
Two of the five board seats are occupied by appointed representatives from IOG and Emurgo, both are Cardano founding entities. The third seat is occupied by the directory of Wyoming University’s Blockchain Center of Excellence and a fourth seat is temporarily held by Intersect COO Nigel Hemsley. The board has a vast wealth of experience across domains both inside and outside the blockchain space however, there is a gap of experience when it comes to the growth and sustainability of an open-source oriented contracting based company within an ecosystem (as opposed to growth and sustainability of a founding entity).
What are the key challenges and opportunities the MBO is currently facing?
The primary challenge that the MBO is facing is also a critical opportunity. First and foremost, the MBO must justify its existence to the Cardano community by establishing a strong record of frequent, high impact, quality contributions to the ecosystem. The MBO's success and sustainability (especially in the early stages) entirely hinge upon its ability to overcome this challenge.
How does the MBO measure success and performance, both at the Board level and operationally?
The MBO measures success at the Board level by evaluating its strategic impact on Cardano's growth, the effectiveness of governance, and the value it brings to the ecosystem. This includes tracking key performance indicators (KPIs) such as the number of successful MBO governance proposals passed (primarily related to funding), the extent of member engagement, and the amount of non-treasury funding secured for key initiatives. Operationally, success is measured through the efficiency and effectiveness of project execution. This includes the delivery of grant projects on time and within budget, the tangible impact of these projects on the Cardano ecosystem, and the overall burn rate management. Additionally, the MBO should use metrics such as the number of new contributors onboarded, the quality of community-driven project, and member feedback to assess ongoing performance.
Regular reviews and reports from the executive team provide insights into operational progress, while periodic audits and evaluations help ensure financial health and transparency. Ultimately, success is gauged by the MBO's ability to create sustainable, long-term value for the Cardano community.
What do you think is the relationship between the Board and the Executive team?
The relationship between the Board and the Executive team is a collaborative partnership, where the Board provides strategic direction, oversight, and governance, while the Executive team is responsible for executing the MBO’s day-to-day operations and strategic initiatives. The Board establishes high-level goals, policies, and priorities, while the Executive team translates these into actionable plans and reports back on progress, challenges, and outcomes. The Board supports and challenges the Executive team, offering guidance and expertise to ensure decisions align with the MBO's mission and long-term strategy. This dynamic creates a system of checks and balances, ensuring the MBO operates effectively, efficiently, and in line with its core values. Open communication and mutual respect are key to maintaining a productive relationship that drives the MBO’s success.
What are the key expectations for the Non-Executive Director (NED) role in terms of time commitment, specific responsibilities, and contributions to Board meetings and committees?
A Non-Executive Director (NED) is expected to commit sufficient time to actively participate in all Board meetings, committee work, and strategic planning sessions. This includes regular attendance at all Board meetings, participating in relevant committees, and contributing to both ad-hoc and async discussions or strategic reviews as needed. NEDs should also stay informed about the MBO’s activities, industry trends, and governance practices, dedicating time to review documents, financial reports, and strategic proposals before meetings.
In terms of specific responsibilities, NEDs provide independent, objective insights to Board discussions, helping shape policies, guide risk management, and ensure compliance with regulatory requirements. They also contribute to strategy development, offer expertise to support the Executive team, and play a key role in evaluating the MBO’s performance against its goals. Furthermore, NEDs act as advocates for the MBO's vision within the wider Cardano ecosystem, using their networks to foster strategic partnerships and enhance the MBO’s reputation.
What/who do you think are the MBO’s key relationships with external stakeholders, and how does the Board engage with these stakeholders?
The MBO’s key relationships with external stakeholders include: Cardano Community: This includes users who are the primary beneficiaries of the MBO’s efforts. Engaging with the community involves open forums, town halls, and consistent updates on projects to ensure transparency and encourage active participation in governance. The Board should heavily focus on designing an effective method of communication with the ecosystem through which the MBO's contributions to the ecosystem can be showcased. Cardano DApp protocols: The majority of DApps on Cardano manage the reward credentials of all the Ada locked in their protocol. Through this, they possess a significant amount of voting power and thus a large influence over Governance Proposals through which the MBO will seek funding. The Board should regularly meet with leadership of the top DApp protocols to listen to feedback, and identify and collaboration opportunities that might arise. Establishing good relationships with these protocols is critical to the financial sustainability of the MBO.
Founding Entities (IOG, EMURGO, Cardano Foundation): These entities provide strategic direction, technical expertise, and support for Cardano's growth. The Board engages with them through collaborative discussions, joint initiatives, and coordination on ecosystem-wide projects. R&D Firms: These firms will be the recipients of the MBO's grants and key contributors to the MBO's repositories. Maintaining a healthy and collaborative relationship with these firms is crucial to sustainability. The Board should regularly meet with leadership of the firms that are the most active contributors to the MBO's repositories and grants in order to facilitate a positive relationship.
Project Catalyst and Grant Recipients: Since the MBO allocates resources to foster innovation, maintaining close communication with grant recipients is crucial. This includes regular progress reviews, feedback sessions, and support to ensure the successful delivery of funded projects.
What do you think is the MBO’s approach to risk management, and what are the top risks that the Board should be aware of?
The MBO’s approach to risk management should be proactive, systematic, and integrated into its strategic planning process. This includes identifying, assessing, and mitigating risks across operational, financial, legal, and reputational domains. The Board oversees a risk management framework that involves regular monitoring, creating contingency plans, and conducting audits to ensure compliance with policies and regulatory requirements.
Top risks the Board should be aware of include:
Funding Risk: The MBO’s long-term sustainability relies on securing continuous funding. Failure to demonstrate tangible value could jeopardize future funding from the Cardano Treasury or other sources.
Reputational Risk: As a key player in Cardano's governance, the MBO must maintain transparency, integrity, and community trust. Mismanagement, lack of communication, or ineffective project delivery could damage its reputation.
Operational Risk: Inefficiencies in project management, grant allocation, or committee structures can lead to suboptimal use of resources, delayed deliverables, and member disengagement.
Regulatory Risk: Evolving legal and regulatory landscapes could impact how the MBO operates, especially in terms of compliance, funding mechanisms, and partnerships.
How should the MBO support Board members in their roles, including providing information, training, and resources?
The MBO should support Board members by ensuring they have access to comprehensive information, and resources to make informed decisions. This includes providing detailed reports, financial statements, strategic updates, and meeting agendas well in advance to allow adequate preparation for Board meetings. MBO should facilitate the Board's access to the MBO’s knowledge base, including research, market analysis, and insights into ecosystem developments. Board members should also have direct communication channels with the executive team to address any questions or concerns.
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