ETC Cooperative
July & August 2021 Board Report
September 23, 2021
Overview
Staffing changes
- Magneto hard-fork activation
- ETC Node Explorers
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Overview
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Staffing Changes
- Diego López León joined the ETC Cooperative at the end of August.
Protocol
Magneto hard-fork activation
The ETC Magneto hard-fork was successfully activated on 23rd July, as specified in ECIP-1103: Magneto EVM and Protocol Updates.
- The ETC Magneto hard-fork was successfully activated on 23 July, as specified in ECIP-1103: Magneto EVM and Protocol Updates.
ETC Node Explorers
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ETC Node Explorers
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ETC Cooperative funded etcnodes.org for the last 18 months.
| Node ID | Country | Client | Version | Protocol (eth) | Fork ID (Current) | Uptime |
|---|---|---|---|---|---|---|
| f102eb0826... | Brazil | CoreGeth | 1.12.1 | v66 | Magneto | 5 days |
| 2a62660cce... | France | CoreGeth | 1.12.1 | v66 | Magneto | 23 days |
| e7f7d86ffd... | Japan | CoreGeth | 1.12.1 | v66 | Magneto | 4 days |
| ee8ae70838... | Singapore | CoreGeth | 1.12.1 | v66 | Magneto | 2 months |
| 749263c7c7... | USA | CoreGeth | 1.12.1 | v66 | Magneto | 4 days |
| dea1f60692... | USA | CoreGeth | 1.12.1 | v66 | Magneto | 8 days |
| 5c70a202ee... | Austria | CoreGeth | 1.12.1 | Frontier | about 2 hours | |
| 89bc93a79a... | Finland | CoreGeth | 1.12.1 | v66 | Magneto | 1 day |
| 93119384f4... | Germany | CoreGeth | 1.12.1 | v66 | Magneto | about 8 hours |
| 99e48dee9e... | Japan | CoreGeth | 1.12.1 | v66 | Magneto | 5 days |
Treasury Progress (July/August - Historical)
This slide preserved for historical purposes, but see the following slide for the latest information.
- We have been in frequent contact with IOHK about the treasury proposal.
- The common "pain points" are becoming evident as a result of these discussions.
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Treasury Update (September)
On September 20th, the ETC Cooperative withdrew support for the ECIP-1098 Treasury proposal. Article explaining this change.
- "We spent many months collaborating with IOHK on reworking the published proposal. It became apparent over time that IOHK's vision of a treasury was sharply at odds with our expectations."
Comms & Marketing
Adoption: The Road to ETC 2.0
Grassroots communications and marketing tactics
Continue narrative: ETC is a perfectly suitable decentralized computing platform for smart contracts.
ECC and IOHK agreed to work together on the proposed upgrades, including treasury and checkpointing.
Maintained open communication with marketing and team through a private ETC discord and held weekly meetings.
Social Media Metrics – ETC Cooperative
July Follower Stats | August Follower Stats
+863 gross; +474 net new followers
+1,145 gross; +782 net new followers
Avg. daily followers: +15.29
Avg. daily followers: +25.23
Comparison of ETC focused accounts
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| Account | Followers |
|---|---|
| ETC Cooperative | 24,540 |
| Ethereum Classic Labs | 8,830 |
| eth_classic | 515,451 |
Finance
Exceptional income
The ETC Cooperative received an exceptional amount of funding from Grayscale during April to August, as ETC prices hit an all-time high during May.
Expenditures in $US
July 2021
| Actual | Budget | Variance | |
|---|---|---|---|
| Overhead & Management | $19,683 | $20,073 | $(390) |
| Development | $2,000 | $40,000 | $(38,000) |
| Comms & Marketing | $4,167 | $4,854 | $(688) |
| Total Expenditures | $31,760 | $73,052 | $(41,292) |
Expenditures in $US
August 2021
| Actual | Budget | Variance | |
|---|---|---|---|
| Overhead & Management | $17,086 | $21,573 | $(4,487) |
| Development | $2,000 | $40,000 | $(38,000) |
| Comms & Marketing | $4,167 | $4,304 | $(137) |
| Total Expenditures | $28,548 | $84,602 | $(56,054) |
Net (Loss)/Income in $US
| Aug 2021 Actual | Budget | Aug 2020 Actual | |
|---|---|---|---|
| Income | $643,046 | $70,811 | $504,199 |
| Operating Expenses | $28,548 | $84,602 | $31,760 |
| Net (Loss)/Income | $614,498 | $(13,791) | $472,439 |
Financial Positions in $US
| Date | 31-Aug-21 | 30-June-21 | 31-Mar-21 |
|---|---|---|---|
| Cash & Equivalents | $2,599,450 | $745,488 | $416,965 |
| Total Assets | $3,309,381 | $2,224,666 | $610,439 |
| Total Liabilities | $52,894 | $55,116 | $17,424 |
| Total Equity | $3,256,487 | $2,169,550 | $593,016 |
| Total Liabilities & Equity | $3,309,381 | $2,224,666 | $610,439 |