The Budget Committee discussed three main topics:
- Dubai Presentation Plans:
- The Committee plans to present a proposed Treasury withdrawal range of 300-500 million ADA
- The presentation will outline high-level goals and committee work types, without specific budget allocations
- There was discussion about managing the withdrawal's impact on ADA price
- The plan involves gradual conversion to fiat/stablecoins rather than a single large conversion
- Historical data suggests Treasury withdrawals have not significantly impacted ADA price
- Technical Consortium Discussion:
- A proposal was discussed regarding a technical consortium involving IOG and 15-20 partner companies
- Questions were raised about how this would integrate with Technical Steering Committee (TSC) decision-making
- Key concerns included:
- Process for adding new engineering suppliers
- Management of engineering hours allocation
- Relationship between consortium and TSC authority
- The committee agreed more documentation and clarification is needed
- Treasury Working Group:
- Discussion of forming a treasury working group including experts from different organizations
- Agreement to include regular reporting to the Budget Committee
- Plans to engage multiple auditors for financial and treasury management
- Focus on transparency and communication with the broader community
Additional points covered included discussion of onboarding new members and the decision to rely on a code of conduct rather than NDAs for managing confidential information.