Discussion points and notes from the BPC meeting on July 8, 2020 at 2pm EST.
- Update on general progress since last meeting
The members were updated on progress pursuing strategic partnerships, sales and ongoing market making activities (narrowing the spread, increasing price stability). Phase 1 work to stabilize the ndau price has been accomplished and new organic demand has been secured. Phase 2 has begun with the signing of an MOU with the next exchange. Members were also updated on the status of the Endowment (value as of June 30th, 2020 was $21,119,236).
- Referendum process to revalidate the BPC
A referendum process to revalidate the BPC has been finalized and the voting process will begin August 1, 2020. Full Election Process details will be published on the BPC website.
- BPC compensation
Original BPC compensation method is still not built into blockchain protocol so an alternative plan is being considered and will be published for discussion before execution.
- New Monetary Policy Discussion
The members discussed proposed changes to ndau monetary policy that would add monetary policy stimulus to the ecosystem.
• 30,000,000 reserve ndau to be potentially issued
• 40,000,000 ndau max possible total in circulation (equal to reserve ndau issued + EAI ndau – burned ndau)
• 3,204,540 reserve ndau issued
• 4,490,543 total in circulation presently
We should add monetary policy stimulus to ecosystem through Ecosystem Alignment Incentive discretionary policy. It should be substantial to ensure it gets the job done.
Additional details to be published after further study and analysis.
- BPC meeting frequency
The members agreed to meet every 3 weeks, next meeting scheduled for July 29th at 2pm Eastern.