13 July 2022 / 10:00-12:00 AM (UTC-4)
Council: Elation Studios, Ryan, Phantz Club, Song Sjun, Sash | Elacity, MButcho – Nenchy, Rebecca Zhu, Strawberry Council, PG Bao, Jingyu, infi
Secretariat: Cassie, Greg
- TLGG Analysis Update
- Business continuity plan and CR consensus changes
- LLC and admin cost
** Bullets denote reporter information and replies to queries. Initials/names indicate questions/ideas raised.
TLGG Analysis Update – Elation
Business continuity plan and CR consensus changes – MButcho
- Re-written, starting with 12, not 24.
- Wishes to make a full proposal for voting if there are no further points to add.
- 10k ELA worst case for a year of emergency node running.
RZ – when will these need to be activated?
- Keep the nodes at 30 minimum, until 12 spare nodes are used. If all 12 are used then a new proposal is needed.
RZ – trade-off between cost and maintaining continuity.
- The nodes on standby are much lower cost, but this increases when live.
RZ – 25 as a threshold?
- MB to communicate to Cassie as and when it is needed. A buffer is needed.
- 20 standby nodes agreed by RZ and MB.
LLC and admin cost – Elation
- Delaware legal entity for CRC – big success.
- Needed for TLGG, K&L and market making, Coinbase, etc.
- LLC costs:
- Local agent (paid yearly).
- Tax implications.
- Ryan took on a lot of responsibility. Now the risk is removed. Should be compensated for last term and for the future.
- Wanted CR Sec to take this on as the legal representative and take on the management of the LLC, but this was not included in the CR Sec work plan.
- New proposal incoming to cover the administrative responsibilities and costs for managing the LLC.
CZ – The CR Sec shouldn’t be expected to be getting involved at that level..
- Whitepaper says it should be. Interpretation. Agree to disagree on who should or shouldn’t do it.
- Agreed that it is something that needs compensation, not as another layer of responsibility without a budget.
RZ – The Sec is to support and not to be responsible.
CZ – Shouldn’t be taking on financial liability.
- As a team the Sec is less likely to be a point of failure for a DAO than one seat holder.
- Optics – why is a lone seat managing the LLC?
Sash – not comfortable taking on the risk/liability. More research needed as to who does have such a role in other DAOs.
TLGG analysis update – Elation
- Task force to create a plan of action not execution.
Consensus changes – MB/Sash
- E-lab for voting on the bounties and incentives.
- M&N to consult with Sash about any tweaks to the compensation for CR Council.
AMA with Elk Finance – Sash
- Thanks to all participants.
- Successful team effort. These are the things that make Elastos shine.
- Elacity, Glide, CreDA, FilDA, Rong and Cassie all took part.
- TLGG organizational analysis task force meeting