May 16, 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: 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 Matt Davis and Alex Kingdon

• Governance parameter recommendations

• Additional Guardrail for hard fork

• Initial MinFeeRefScriptCostPerByte setting

Updates

• The Committee welcomed Matt Davis and Alex Kingdon from Intersect as Observers for the meeting

• The Committee reviewed the proposed initial settings for the Governance parameters. dvt_p_p_gov_group - confirmed at 75% gov_action_deposit - recommended 100,000 ada committee_max_term_length - recommended 146 epochs (approx. 2 years) committee_min_size - confirmed at 7 All other recommendations from the Governance advisory group were accepted. These recommendations will be applied on SanchoNet following the next respin and will be incorporated into the Conway genesis file.

• Based on the discussion from April 25, a new guardrail has been proposed that at least 85% of pools should upgrade before the hard fork The committee recommended that minFeeRefScriptCoinsPerByte be initially set to 40 in the Conway genesis file. This setting will be reviewed in the light of experience.

• The Committee will review the Plutus cost model settings and PCP003 at its next meeting