Week 6

Mon 3rd Feb - Sun 9th Feb 2025

Tuesday 4th February 2025

Governance Workgroup

Narrative:

We agreed the following timeline for the Q2 budget consent process:

🌟 Thurs 6th March - deadline to confirm what the budget caps are for Q2 (in Open Gov meeting?) and the exhange rate to be used for calculating budgets 🌟 Mon 10th March: deadline for WGs to submit Q1 quarterly reports and Q2 budgets. Also - calculate who is a Core Contributor 🌟 Mon 17th March: deadline for Core Contributors to complete consent forms 🌟 Tues 18th March: discuss objections in Gov WG meeting. WGs without any objections are approved 🌟 Sun 23rd March: deadline for WGs with objections to submit a revised budget 🌟 Mon 24th March: 2nd-round consent forms go out, for those WGs that have objections 🌟 Weds 26th March: deadline for Core Contributors to submit 2nd consent forms 🌟 Thurs 27th March: discuss and finalise in Open Gov meeting

We have the dates for Q3 decision (June) and Q4 decision (Sept) worked out on a similar timeline; but we agreed to confirm these nearer the time. We also noted that for Q3, Guillermo/R&D's proposed dashboard will be ready, which might help streamline the decisionmaking process and shorten the timeline.

RE: setting an exchange rate to be used for Q2 budgets - we noted the current low token price, and suggested $0.35, but noted that the final decision doesn't need to be made until early March.

We discussed the suggestions in the "Budget Caps for Q2" document, and decided our approach to the New Ideas budget; new workgroups; and budget cap amounts (see "decisions" below).

In relation to budget caps - we emphasised that any WGs who feel their cap is too low need to prioritise, and there are not many WGs who have outputs that need to be protected regardless. WGs should also be encouraged to use their Q1 quarterly report to explain any negative effects of their budget caps - for example, listing the work that they would have liked to do but have been unable to do because their budget cap was too low - so that the community can assess whether their cap needs to be raised. But we did note that this process is quite slow.

The lobger term suggestions in the "Budget caps for Q2?" doc particularly around the idea of WGs establishing minimums below which they can't operate - will be discussed in a later meeting.

Discussion Points:

  • Dates for Q2 budget consent process

  • What exchange rate should be used for calculating Q2 2025 budgets?

  • Will there be a New Ideas budget for Q2 2025?

  • Will new WGs be permitted for Q2 2025?

  • Q2 2025 budget caps - will they stay the same as Q1?

Decision Items:

  • We agreed the timeline for the Q2 budget decision process. We agreed to set the exchange rate to be used for Q2 budgets in early march. We agreed to confirm the timelines for Q3 and Q4 nearer the time.

    • [effect] mayAffectOtherPeople

  • We confirmed that the New Ideas budget will be reinstated for Q2, and it will be taken from the cumulative remaining amount that is left over from previous Quarters (just over 5k AGIX), rather than taking a percentage from the Q2 budget.

    • [rationale] Because, since there is money that has been previously allocated to New Ideas and not used, it makes sense (especially in a time of low token price) to use it, rather than reducing WGs' budget caps and taking a percentage from the Q2 budget.

    • [effect] mayAffectOtherPeople

  • We agreed that the upper limit that can be spent on New Ideas in Q2 will be 1,500 AGIX

    • [rationale] because even though we have 5k AGIX unspent in total, New Ideas should be used to support small "starter" things rather than high-budget ideas.

    • [effect] mayAffectOtherPeople

  • We agreed that before Q2 begins, we will discuss and agree guidelines on how this budget can (and cannot) be used, basing this on the existing draft doc

    • [rationale] Because we need a process in place for how proposals to use New Ideas budget should be agreed, and guikdelines on what it can and can't be spent on.

    • [effect] mayAffectOtherPeople

  • We agreed that independent new workgroups with their own separate budgets will not be permitted in Q2; but new WGs can be created under the heading of an existing Guild, and costed within that Guild's budget cap.

    • [rationale] Because this will give e.g. regional Guilds the freedom to start new initiatives as they need, within their existing budgets; but it will not require budget caps to be changed to allow budget for completely new WGs.

    • [opposing] Not an opposing argument, but it was suggested that for clarity we shouldn't call these new initiatives "workgroups" as such, but just "neew initiatives.

  • We agreed that budget caps will stay the same (in AGIX) for Q2 as they were for Q1.

    • [rationale] Because core contributors need to see the reports for Q1 which outline any effects of budget caps before being able to decide if they agree that a WG's cap needs to change

    • [opposing] It was noted that this means that if a WG's cap really is too low, they will not be able to change it until Q3 at the earliest, which is quite slow

    • [effect] mayAffectOtherPeople

  • We agreed there needs to be some kind of context-setting or informational material for WGs to explain this need to use their Q1 quarterly reports to explain any issues with their budget caps. This will be discussed in a later meeting.

    • [effect] mayAffectOtherPeople

Keywords/tags:

  • topics covered: budget caps, Q2 2024 budget, consent process, timeline, token price, Exchange rates, Q1 quarterly report, New ideas, Process for agreeing new workgroups

  • emotions: Good natured, low attendance, Discursive, progress made

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