Counterparty Foundation Holding Board Elections, Change Board Composition

A free and open platform that uses the bitcoin network, the Counterparty Foundation will be holding elections of the next board soon and has reviewed its progress since its inception in January 2014, alongside examining how the project could grow and improve further. To date, the Counterparty Foundation has: formed a stable, tested and working platform with active development; a formal Counterparty Foundation, board, and bylaws; extensive documentation; and sub-assets; a comprehensive website, forums, and active slack chat. There are also upcoming features planned, such as updated Ethereum VM support, P2SH and segwit support in Counterwallet.

Despite this, there are some areas where Counterparty feels the project could still improve. Firstly, it aims to move towards more active and transparent project leadership: specifically, a more active and empowered board, with the responsibility of officially representing the project. This would be hoped to lead to better communications to both the Counterparty community itself and the larger crypto community as a whole. In addition, Counterparty would like to place more focus on enhanced technical outreach that hopefully will yield further additions to its development team.

As first steps towards these goals, the board has voted in favour of a resolution to change board composition to be four community seats and one founder seat, instead of three community seats and two founder seats. Moreover, elections will be held on May 1st of every year, for a one year board term. After this next election finishes, the new board will decide on a specific communication strategy as one of its first orders of business. This is likely to include

•A regular meeting every month over slack, open to everyone, where events of the past month are recapped and the community may directly participate and ask questions.

•A “Quarterly Update”, detailing project goals for the next quarter, and a retrospective of the past quarter’s goals.

•The creation a public relations task group. It will be proposed that this task group include two members from the board as well as two from the community appointed at-will. Under the supervision of the board, the goal of this task group will be to create and present information on the project to both the Counterparty community and to the larger ecosystem, via the website, social media, press outlets and so on.

Development progress will continue along the lines of the CIP program already in place and Devon Weller will continue to administer this program. Proposed and accepted CIP proposals will set the direction and pace of development. The development team will work with the board to formulate quarterly project roadmaps, which will inspire development efforts and CIP proposals, but not dictate or bind them.

After community discussion, a vote will be put to the board to eliminate the Counterparty foundation membership program due to the inability to deliver on the stated benefits, as well as the time required to manage it. It would be replaced with a simple donation program, and all individuals with currently active memberships would be offered a full refund. In addition, the merchandise program would be discontinued, as well as the website itself, with the domain instead redirecting to a new page on the main domain that details the foundation and project structure.

The project will continue to operate via volunteer hours and community donations. The board will explore ways to further encourage donations; they will clarify and codify moderation guidelines for the official slack chat and forums.