ETC Cooperative
2021 Q1 Board Report
April 30, 2021
Overview
› 2020 Retrospective Report › 2021 Roadmap and Budget
› 2021 AGM held › The Keccak-256 public testnet, Astor, is live!
› Ongoing liaison with IOHK’s Mantis team. › Infrastructure automation templates in progress.
› New Afternoon Tea and ETC online meetups. › ETC Weekly
Annual Reports and AGM
2020 Retrospective
› The ETC Cooperative’s 2020 Retrospective report was published on 19 January › This was a major undertaking, with 41 pages of reporting on everything the ETC Cooperative did during the previous calendar year, including detailed financials.
2021 Roadmap and Budget
ETC Cooperative
The 2021 Roadmap and Budget documents were prepared during January and February. They will be released to the public in the near future.
2021 AGM held on 24 February
Our Annual General Meeting
was held on 24 February.
All Directors were present and most of the meeting was spent discussing the Roadmap.
The signed resolutions will be released to the public in the near future.
Protocol
Keccak-256 (Sha-3) Progress
The Astor testnet is live
ETC Coop is funding the implementation
Astor is the official public Keccak-256 testnet supported in Hyperledger Besu. Anyone operating Besu can start an Astor node with --network=astor and begin testing on the network.
We’re coordinating with the mining community to grow the amount of Keccak-256 mining supporting software. ePIC team has recently released Ethminer with Keccak-256 mining support Ethminer
Ongoing IOHK Mantis team liaison
There has been ongoing liaison work with the IOHK Mantis team. We’re collaborating with IOHK on finalizing the scope of the Mantis Treasury specification to best serve the ecosystem.
Infrastructure
Infrastructure Automation
We’re working on Ansible playbooks that will be open-source to help new and existing “ETC” Hyperledger Besu users to quickly bootstrap their node infrastructure. The objectives of these playbooks will be to:
› Provide automation tools so Besu users can bootstrap their ETC node infrastructure on multiple major cloud providers (AWS, GKE, Azure, etc…), or locally. › Make nodes easier for novice users.
What is Ansible? Ansible Overview
Documentation
How to use Hyperledger Besu on Windows
An extensive tutorial on how to use Hyperledger Besu on Windows was released to Medium, along with a corresponding video. Besu usage is still hovering at around 5-6% of nodes, with Core-Geth still dominating, especially for miners where we have not been able to recommend Besu yet. That will be changing soon, as part of the SHA3 work.
Afternoon Tea & ETC
We launched the Afternoon Tea & ETC online meetup. This meetup occurs every Tuesday to bring the community together to discuss Ethereum Classic and related topics or feature presentations.
Event details: Afternoon Tea & ETC Meetup
Collected KPIs and Metrics
› The Co-op has seen a 462 increase in followers as shown on below and analytics by TweepsMap
Finance
Expenditures in $US
| Mar 2021 Actual | Mar 2021 Budget | Variance $ Mar 2021 vs Mar 2021 Budget | Mar 2020 Actual | Variance $ Mar 2021 vs Mar 2020 | |
|---|---|---|---|---|---|
| Overhead & Management | $16,975 | $22,065 | $(5,090) | $18,030 | $(1,055) |
| Development | $15,028 | $40,000 | $(24,972) | $15,172 | $(143) |
| Protocol | $10,000 | $20,000 | $(10,000) | $0 | $10,000 |
| Comms&Marketing | $4,167 | $4,304 | $(138) | $5,086 | $(919) |
| Finance | $16,420 | $16,545 | $(125) | $2,076 | $14,344 |
| Infrastructure | $0 | $3,600 | $(3,600) | $0 | $0 |
| Partnerships | $0 | $0 | $0 | $0 | $0 |
| ETC Summit | $0 | $0 | $0 | $0 | $0 |
| Total Expenditures | $62,590 | $106,514 | $(43,924) | $40,363 | $22,227 |
| Non-cash Items | $0 | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $62,590 | $106,514 | $(43,924) | $40,363 | $22,227 |
Net (Loss)/Income in $US
| Mar 2021 Actual | Mar 2021 Budget | Mar 2020 Actual | |
|---|---|---|---|
| Income | $126,590 | $59,718 | $109,973 |
| Operating Expenses | $62,590 | $106,514 | $40,363 |
| Net (Loss)/Income | $64,001 | $(46,796) | $69,611 |
| Non-cash items | $0 | $0 | $0 |
| Adjusted Net Income | $64,001 | $(46,796) | $69,611 |
Financial Positions in $US
| 31-Mar-21 | 31-Dec-20 | 31-Dec-19 | 31-Dec-18 | 31-Dec-17 | |
|---|---|---|---|---|---|
| Assets | |||||
| Cash&Cash Equivalents | $416,965 | $303,313 | $146,318 | $530,268 | $0 |
| ETC(at book value)^{1}$ | $78,115 | $78,115 | $154,363 | $154,363 | $0 |
| Accounts Receivable | $0 | $0 | $12,057 | $7,057 | $0 |
| Due from Grayscale | $115,361 | $51,914 | $18,808 | $(6,729) | $371,505 |
| Prepaid Expenses&Deposits | $0 | $0 | $2,250 | $0 | $0 |
| Total Assets | $610,440 | $433,341 | $333,796 | $684,960 | $371,505 |
| Liabilities | |||||
| Accounts Payable&Accrued Liabilities | $17,424 | $18,507 | $44,393 | $20,305 | $0 |
| Due to Grayscale | $0 | $0 | $(1,000) | $3,022 | $131,864 |
| Total Liabilities | $17,424 | $18,507 | $43,393 | $23,328 | $131,864 |
| Equity | |||||
| Retained Earnings | $414,834 | $290,403 | $661,632 | $239,640 | $0 |
| Net Income/(Loss) for the year | $178,182 | $124,431 | $(371,229) | $421,992 | $239,640 |
| Total Equity | $593,016 | $414,834 | $290,403 | $661,632 | $239,640 |
| Total Liabilities&Equity | $610,440 | $433,341 | $333,796 | $684,960 | $371,505 |
| ETC at Market Value^{1}$ | $114,935 | $46,284 | $72,540 | $81,430 | $0 |
| Liquid assets^{2}$ | $531,899 | $349,597 | $218,858 | $611,698 | $0 |