A few days before this year's General Assembly, here are the minutes of the previous "Board Meeting" that took place via videoconference on November 11th.
The agenda was packed with consequential topics:
First: most assumptions stay unchanged:
Second: the governance token usage is clarified. Out of the three states, "liquid", "unlocking" (1 month unstaking period) and "locked" only the locked tokens count for the vote, the other two categories carry zero weight. Each memebr still has at least one democratic vote, regardless of OCLT holdings
In the past year we have used the following formula for weighted voting:
Weight = 1 + k(member's locked OCLT / total locked OCLT), where k was equal to 1.
In order to encourage token holding and give higher recognition to those who stay longer with the association, the GA will be invited to approve a new "k", namely k = 1,5 * number of members (rounded to the nearest integer).
This formula aims to ensure a democratic baseline (1 member = 1 vote) while incentivizing stakeholders by giving them a stronger voice. The objective is to balance inclusiveness and commitment (token-based responsibility) while preventing governance capture by high capital-holders while rewarding engagement.
We've explained this change further to the members attending the Wednesday workshop using these drawings
The 2025 GA will renew the Board. To ensure alignment between governance responsibility and commitment to the ecosystem, the candidates will be required to hold a minimum of 1.000.000 staked OCLT on that day
Last year we have called-in funds and gathered about 48 000€. These funds were stored in 
At the GA the members will be invited to pledge new funds in order to increase our financial capability
We decided to strengthen the rules governing OCLT issuance. We currently have a proportion of OCLT that is backed by the HBD in reserves (ocl-trez) and a proportion of OCLT that reflects the work done by the members of the association and is "credit based".
To increase confidence in OCLT, we resolved to monitor the ratio of "deposit-backed OCLT" to total issued OCLT (including the "work-related, credit OCLT") This ratio is calculated here:
https://dho.offchain.lu/debt
When too much "work-related OCLT" (debt) is issued compared to the size of the reserves, this ratio drops. We decided to put in place intervals that trigger automatic actions and aim to align OCLT work compensation and token issuance with the financial reserves in HBD, ensuring long term sustainability of the value of OCLT
Thus, if the "HBD-backed OCLT" falls below 20% of the total, the compensations paid in OCLT decrease.
If they fall below 16% the compensations fall again and issuance is controlled via a weighted vote of the Permanent GA rather than of the Board.
If the ratio falls below 10% no new "debt" OCLT is issued and no compensation is paid anymore
Below 4%, HBD spending stops completely.
