June 6, 2024

The Parameter Committee (interim state) meets on a tri-weekly basis. It discusses all parameters relating to the Cardano protocol including network, technical, economic and governance parameters, providing technical advice and recommendations on updatable parameter settings.

Updated list of the Members (interim state):

Chairs: Chair: Kevin Hammond Vice- chair: Alex Moser Vice- chair: Vijay Bhuvangiri

Advisory Group Heads: Network group: Neil Davies Technical group: Markus Gufler Economic group: Samuel Leathers Governance group: Adam Rusch

Advisory Group Members: Network group: Karl Knutson, Matthias Sieber, Marcin Szamotulski Technical group: Ruslan Dudin, Michael Peyton Jones, Ashish Prajapati Economic group: Sergio Sanchez, Philip Lazos, Giovanni Gargiulo, Sheng-Nan Li Governance group: Oscar West, Riley Kilgore, Nicolas Cerny, Jonathan Kelly

Other: Communications: Tommy Kammerer, Matthew Capps Domain experts: Martin Lang, Andrew Westberg Observers: Matt Davis, Lewis Mayne Secretary:

Remit

The purpose of the Parameter Committee is to provide technical advice and recommendations relating to the updatable protocol parameters, taking into account economic, security, network and other technical considerations, as appropriate to protect the long term sustainability of the Cardano blockchain.

Agenda and Updates:

Agenda

• Welcome to Lewis Mayne (Intersect)

• Governance parameter status

• New Plutus cost model settings

• PCP003 Status

• Update on ‘k’ parameter

Updates

• Status of Governance Parameters Governance parameter settings have been confirmed and deployed to SanchoNet

• Plutus v1/v2/v3 Cost Model Settings New Plutus cost model settings were discussed. Some further information on changes has been requested, to be presented and discussed at the next parameter committee meeting

• PCP003 Status Benchmarking work is ongoing to support a recommendation on the Plutus memory limit setting.

• Update on ‘k’ parameter A summary update has been prepared and will be released to the community. The community is advised to consider improvements to the rewards scheme to support smaller pools via e.g. Intersect Cardano work items

• Based on community feedback to the proposed initial setting requesting a much lower initial setting, the Committee will reconsider MinFeeRefScriptCostPerByte at its next meeting