Board Minutes: February 2, 2018

16:30-17:31 GMT

Board members in attendance: Peter, Andrew, Yan, Matt

Foundation employees in attendance: Josh, Antonie

1. Zcon0

• Antonie presented Zcon0 budget
• General agreement on “no lambo party” policy
• Total proposed cost of Zcon0: $357,500
• Proposed cost OK from Andrew, Yan, and Matt

1. Grants, 2017Q4 and what’s next

• Josh to set up general mailing list, encourage grantees to share their results there
• Been a month a half since 2017Q4 grants awarded, general impression was positive
• Zcash4Windows issues…failure of process from unreviewed code (port)
• Proposal from Matt: the Foundation can solve the security auditing problem
  • Should we launch our own dev team?
    • Hire outside security auditing?
      • Yan notes that 90% of the work is in actually fixing the issues, not finding them
    • Maybe hire a team to provide technical oversight for work done by others/contractors?
    • Some of the $250k for this years’ grants budgeted could also be used to hire people for oversight
• Next grant programs (2018Q2, 2018Q4)
  • Add more reporting requirements (rather than just six months after the project is done)
    • Approve now for the sake of making an announcement
    • $125k in favor from Andrew, Yan, will reduce grant amounts to $125k

1. Governance, public support

• Andrew is taking non-profit law very very seriously 🙂
• We have a long runway on proving public support test, decided to table topic for now

1. 2018 Vision and Roadmap

• Josh presented his vision and roadmap doc for 2018
• Eager to have opportunity to play a role in enabling community governance over a cryptocurrency
• Yan: thoughts on drawing line between Company and Foundation?
  • Josh: wants Foundation to take on more responsibility but without being construed as active collaboration, has to be case-by-case
    • With Zcon0 there will be lots of collaboration, but long term there should be bright lines between the work we do and the work the Company does.
    • Weekly Foundation <> Company sync is by necessity, for now
  • Josh: Ideally 2-3 years to become more fully independent—especially with regard to protocol development

Josh and Antonie Recuse Themselves, Only Board Members

1. Vote to approve Josh’s document/plan to be Executive Director. Passes four in favor, one absent.
2. Andrew brings up question of how new board members are added to community.

• Possibility of having a group of voters designated 100+ from community to then chose more board members.
  • Decision to add two more board members through vote some time in future, will be discussed on GitHub transparently: four present board members agree.

1. Frequency of board meetings discussed, everyone happy with current tempo.