ETC Cooperative 2024 Q1 Report

Donald McIntyre

July 01, 2024

We are pleased to share ETC Cooperative’s Board Package for Q1.

Highlights:

ETC Grants DAO: Project teams continued their work through Q1 of this year and new projects have been evaluated by Bitmain and the ETC Cooperative during the period. The first round of the program offered up to $1M USD worth of ETC to successful applicants. In the end, we allocated $594,800 USD to successful applicants.
POW Summit: POW Summit 2023 was a unique conference that brought the major Proof of Work (POW) communities together around our common cause. After Ethereum’s transition to Proof of Stake (POS), the mainstream narrative is that POW is obsolete and harmful technology. POW Summit serves as a counter to these narratives presenting various arguments from top experts.
Development and Infrastructure: On the latest two releases, Gaia (v1.12.18) and Persiphone (v1.12.19), we deactivated Modified Exponential Subjective Scoring (MESS). The Ethereum Classic upgrade, code named SPIRAL, occurred on block 19,250,000 on February 4 2024.
Comms and Marketing: During Q1, a range of initiatives were launched with the objectives of boosting awareness, fostering adoption, and elevating the overall brand perception of Ethereum Classic (ETC). We conducted the POW Summit 2024 strategic planning, media management, production & creation. We maintained and supported the ETC Grants DAO program participants, partners, and promotion. We kept the pace with the ETC Cooperative marketing, maintaining evangelism through blog posts, social media, and community engagement.
Financials: Overall, Q1 2024 actual costs were slightly ahead of budget and higher than Q1 2023, mainly due to some unbudgeted marketing costs that will not be continuing and slightly higher travel costs. The total POW summit costs and income will be reported in Q4 2024.

Here are the previous three reports released in 2023:

Also, see the Filings page which lists all of incorporation documents, resolutions, IRS filings and other transparency reports.