ETC Cooperative
April and May 2021 Board Report
June 11, 2021
Overview
Staffing Changes
- Stevan Lohja, Director of Developer Relations, resigned in mid-May to join IOHK.
Protocol
Pending Magneto Hard-Fork
- An ETC core developers call was held on May 21 to discuss the Magneto hard-fork proposal.
- This proposal is known as ECIP-1103: Magneto EVM and Protocol Updates.
Treasury Progress
- Ongoing discussions with IOHK about the treasury proposal.
- Identified common concerns regarding fund allocation and accountability.
Comms and Marketing
Polls in Favor of a Treasury
- A recent poll on Twitter showed 82.7% support for an Ethereum Classic Treasury.
- Previous polls from various platforms showed similar support.
Keccak-256 (Sha-3) Progress
- ETC Coop supports ECIP-1049 to change ETC PoW to Keccak-256.
- Funding development for implementation that has been featured in Hyperledger Besu.
Miners Regarding Keccak-256 and Treasury
- Engaged with major mining stakeholders regarding the proposals.
- Concerns raised from mining pools about treasury allocation.
Finance
Expenditures in $US
| Apr 2021 Actual | Apr 2021 Budget | Variance $ | Apr 2020 Actual | Variance $ | |
|---|---|---|---|---|---|
| Overhead & Management | $16,948 | $21,073 | $(4,125) | $16,975 | $(27) |
| Development | $15,054 | $40,000 | $(24,946) | $15,028 | $26 |
| Protocol | $0 | $17,000 | $(17,000) | $10,000 | $(10,000) |
| Comms & Marketing | $4,167 | $4,854 | $(688) | $4,167 | $0 |
| Finance | $2,000 | $12,125 | $(10,125) | $16,420 | $(14,420) |
| Infrastructure | $0 | $7,700 | $(7,700) | $0 | $0 |
| Partnerships | $0 | $0 | $0 | $0 | $0 |
| ETC Summit | $0 | $0 | $0 | $0 | $0 |
| Total Expenditures | $38,169 | $102,752 | $(64,583) | $62,590 | $(24,421) |
Net (Loss)/Income in $US
| Net (Loss)/Income in $US | May 2021 Actual | May 2021 Budget | May 2020 Actual |
|---|---|---|---|
| Income | $863,761 | $63,763 | $272,204 |
| Operating Expenses | $38,981 | $86,802 | $38,169 |
| Net (Loss)/Income | $824,780 | $(23,039) | $234,035 |
Financial Positions in $US
Assets
Cash & Cash Equivalents: $753,028
Conclusion
The board report outlines key updates on staffing, protocol changes, marketing strategies, and finance, focusing on the progress and implications of the treasury proposal and the Keccak-256 implementation.