> For the complete documentation index, see [llms.txt](https://steeringcommittee.docs.intersectmbo.org/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://steeringcommittee.docs.intersectmbo.org/committee-meeting-notes/2026-meeting-notes/august-31-2026.md). # August 31 2026 ## Attendees: | Name | Attendance | Role | Voting Seat (Y/N) | | ---------------------------------------------------- | ---------- | ----------------------------- | ----------------- | | [Simo Simovic](mailto:simo.simovic@intersectmbo.org) | Yes | Secretary | N | | Jack Briggs | Yes | Executive Director | Y | | James Meidinger | Yes | Community Member Seat | Y | | Thiago Nunes | Yes | Community Member Seat | Y | | Kristijan Kowalsky | Yes | Community Member Seat | Y | | Jose Miguel de Gamboa | Yes | Community Member Seat | Y | | Sebastian Pabon | Yes | OSC Chair | Y | | Samuel Leathers | Yes | Product Chair | Y | | Martin Musagara | Yes | MCC Chair | Y | | Megan Hess | Yes | CBC Chair | Y | | Kevin Hammond | Yes | TSC Chair | Y | | Laura Mattiucci | Yes | GMC Chair | Y | | Nicolas Cerny | Yes | CCC Chair | Y | | Lorenzo Bruno | Yes | Head of Product & Membership | Y | | Larisa Mcfarlane | Yes | Head of Ecosystem & Community | Y | | Nick Clarke | Yes | Head of Cardano Technology | N | | Bosko Majdanac | Yes | Secretary of TSC | N | | Abhik Nag | Yes | Secretary of MCC | N | | Terence McCutcheon | Yes | Secretary of OSC | N | | Lara Bonasorte | Yes | Secretary of GMC | N | | Thomas Lindseth | Yes | Secretary of CCC | N | ### Additional Attendees: Adam Rusch - Member of the Intersect Board Mercy Fordwoo - Member of the Intersect Board Ken-Erik Ølmheim - Vice Chair of Civics Thyme Studio - Vice Chair of Product Christian Taylor - Vice Chair of TSC Marco Moshi - Vice Chair of the GMC ## Agenda: * Intersect Budget Update * Intersect & Committee Planning * Update Constitutional Committee & GA on Chain * Decision making process - GA raised on chain by Intersect * Layer 0 integration * QA ## Discussion/Actions ### 1. Update on Intersect Budget Intersect has locked the ADA/USD rate for its approved budget, providing approximately $4.5 million for the next 12 months. This is below the original budget assumption of approximately $6.35 million, and the organization is therefore operating with a funding gap. Cost-reduction measures have already been introduced over recent months, including staffing changes, with some further work still expected around resourcing and operating efficiency. Budget allocations across teams and departments are being finalized, including areas such as the bug bounty program, whose previous funding has been fully utilized. The Board will review and approve the resulting internal budget allocations. ### 2. Q4 Planning and End-of-Quarter Activities Committee Q4 planning will take place during the second and third weeks of September, with secretaries supporting committees to review Q3 achievements and prepare their Q4 plans. Internal sector and team planning will take place during the weeks of September 14 and September 21. The final two weeks of September are proposed as committee focus weeks, with a recommendation to cancel regular committee and working group meetings where possible to create space for planning and completion of outstanding work. The final week of September will include the quarterly ISC and Board session, where committees and Intersect sectors will present Q3 achievements and Q4 plans. Committee Chairs and Vice Chairs will also participate in Intersect Insight and Intersect Connect on September 30. ### 3. Constitutional Committee Governance Action The Constitutional Committee update governance action was due to expire on September 1. At the time of the meeting, the DRep threshold had been reached, but SPO participation remained below the required threshold. The action was identified as critical because failure to enact the update would leave Cardano without an active Constitutional Committee and result in a pause in governance activity requiring Constitutional Committee approval. Significant outreach was underway with community SPOs, institutional operators, Cardano Foundation and IOG to increase participation before the deadline. Members discussed the reasons behind low participation, including timing, summer availability, voting fatigue, tooling, lack of awareness, and the fact that some large SPO operators are not delegated to auto-abstain. There was also uncertainty around explorer reporting and the exact stake calculation at the epoch boundary. If the action does not pass, the current plan is to update the metadata based on feedback and resubmit the governance action as soon as possible in the following epoch. ### 4. Parameter Update Governance Action The second governance action discussed combines a reduction in minPoolCost with the second stage of the increase to Plutus transaction memory unit limits. The action was structured to allow SPOs to participate in the decision on minPoolCost because of its direct impact on stake pool economics. However, SPO participation remained below the expected threshold, and there had also been some criticism of bundling the two changes together. If the action does not pass, the Plutus memory limit increase is expected to be resubmitted separately, potentially with a larger increase, while the minPoolCost proposal will be reconsidered in the context of broader incentive changes. The ISC also noted that having this action expire in the same epoch as the Constitutional Committee action created an avoidable sequencing conflict that should be prevented in future. ### 5. Intersect Governance Action Decision-Making Process The ISC discussed how governance actions submitted by Intersect should be proposed, reviewed, approved and communicated. The current process is that governance actions are generally developed by the committee whose remit is most relevant to the subject and then submitted to the Board for approval. Board approval is required because governance actions involve organizational resources and a governance action deposit. The ISC usually receives updates through committee reporting, but there is currently no single standardized process for how proposed governance actions are presented and tracked across Intersect. Members discussed the need for greater visibility and consistency, including clearer guidance on when governance actions should be bundled or submitted separately. There was support for developing a common way to track governance actions from initial discussion through approval and on-chain submission, potentially through a shared dashboard or existing planning tools. As an initial step, governance actions submitted by Intersect will be tracked more visibly and regular updates can be brought to the ISC. ### 6. LayerZero Integration Update The LayerZero integration remains in development. Technical teams are finalizing the scope and specification and evaluating implementation options. Despite an earlier delay, the overall delivery target has not changed, with mainnet deployment still expected by the end of 2026. Testnet activity will take place beforehand, and LayerZero is also preparing communications to provide a clearer public rollout plan. ### 7. Dijkstra and Constitutional Update An update was provided following the dedicated discussion held between technical representatives and Constitutional Committee members. The general direction from that discussion was to aim to update the Constitution before the Dijkstra hard fork, with work underway on the required constitutional changes and a related CAP submission expected. It was also clarified that while updating the Constitution before the hard fork is preferable, it may not be an absolute technical requirement. The Constitution, implementation, and broader ecosystem upgrade were described as three related but partially independent workstreams, with dependencies between them that need to be clearly mapped. ### 8. Board and Ecosystem Questions A question was raised regarding EMURGO's future involvement and responsibility for assets such as CSL following its decision to step away. No confirmed information was available regarding EMURGO's longer-term plans or whether it will continue maintaining those assets. The matter will be followed up, with further information to be shared with the Technical Steering Committee and relevant ecosystem participants when available. ### 9. Actions & Next Steps * Committees to complete Q3 reviews and Q4 planning during the second and third weeks of September. * Begin regularly tracking Intersect governance actions through the ISC. --- # Agent Instructions This documentation is published with GitBook. GitBook is the documentation platform designed so that both humans and AI agents can read, navigate, and reason over technical content effectively. Learn more at gitbook.com. ## Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. 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