Board Minutes: February 3, 2017

14:05-15:02 pm EST

In attendance: Andrew, Peter, Matt, Naval, Rainey

Initial Board Meeting

  1. Incorporation
  • Board agreed to approve bylaws.
  • Try to be a charitable nonprofit? Board a strategy to go for 501c3 and revert to 501c6 if that fails.
  • Officers

Secretary: Peter President / Treasurer: Andrew

  • Andrew plans to schedule a weekly office-hours hangout. Peter plans to attend frequently; digest in email if board-important issues discussed
  • Reminder to Please send conflict of interest forms
  1. Funding report, plans for how to handle it:
  • Board agreed to a broad strategy of folding funds primarily in Zcash (we’re less relevant if Zcash value crashes) Some in dollars for bare minimum of near/medium term expenses.
  • Operational: possibly a multi-sig scheme where 5 of directors should hold key shards, policy to be determined. 3 of 5 to sign?
  • We begin with donation pledges of portions of the Founder’s Reward, the largest of which comes from Least Authority
  • Board agreed to prefer a 1-time permanent transfer of rights rather than month-to-month
  1. Priorities, ideas.
  • Community development, diversity
  • Communication platforms to hear stakeholders and actively encourage their participation. e.g. Miners, mining pools
  • Development funds, bug bounties, fellowships
  1. Future of governance process.
  • Start with no governance framework, but develop one. Goal is to eventually over to the “community”, via the “governance process”, in 9 months.
  • By polling current users. We should also represent people who are not part of the community yet.