The Extraordinary General Assembly took place on Wednesday, Dec. 4th, from 19h00, in hybrid mode.
Presence
Out of the 25 members of the association, 16 were present or represented: 1. @chrisinlux 2. @trafalgarlaw918 (online) 3. @sorin.offchain 4. @worldnfts 5. @eyza 6. @cryptogia 7. @warman2g (online) 8. @jga 9. @nicky25 10. @paulo21 11. @reload.finance 12. @kevcrypto (online) 13. @sub7security (online) 14. @inalloush (online) 15. @jzoff 16. @frankyboy represented by @sorin.offchain
The quorum was threfore attained.
Decisions
Election of a renewed Board of Directors
The current Board, consisting of @sorin.offchain (President), @sub7security (Treasurer) and @wgomes26 (Vice President) decided to stand down in the best interest of the association. Following a presentation of the candidates to new elections and discussions, the following Board was elected by unanimity: 1. @warman2g - President 2. @chrisinlux - Treasurer 3. @trafalgarlaw918 - Secretary 4. @frankyboy - Vice President 5. @kevcrypto - Vice President 6. @cryptogia - Vice President 7. @sub7security - Vice President 8. @nicky24 - Vice President 9. @sorin.offchain - Vice President
Accounts and budget
Documents were prepared by @chrisinlux with support from @inalloush and checked by @trafalgarlaw918. They were available to members for consultation and discussion and were adopted unanimously
Financial Overview: Income sources included membership fees, voluntary donations, and revenue from blockchain classes. Most work to date has been compensated in OCLT tokens.
Budget Decisions: Members emphasized the importance of financial transparency to build trust. - The current budget allocation supports operational activities and prepares for upcoming projects.
Pledges: Members pledged significant donations ranging from €1,000 to €10,000, compensated with OCLT tokens at a rate of 1,000 tokens per €1. Specifically, @paulo21 committed to 1k, @cryptogia from 2 to 3k, @chrisinlux to 5k, @reload.finance from 5 to 10k, @sorin.offchain to 10k, @frankyboy (through the power of attorney given to @sorin.offchain ) committed to 1k, @warman2g committed to 2k, @trafalgarlaw918 from 2.5 to 5k, @decentramax (through power of attorney given to @sorin.offchain ) from 8 to 10k, @eyza to 1k, @inalloush from 1 to 5k to be confirmed in the following days, and @jzoff to 1k. The group set a staking cap of 80% to maintain token liquidity for operational use. A detailed mechanism for multisig approvals was finalized, ensuring transparency in fund allocation. A multisig approval mechanism was finalized with the following parameters: - At least 7 key holders, with weight proportional to their contributions. - Approval threshold set between 40%–45% of the total contribution pool for fund disbursement. - This setup aims to create a robust check-and-balance system to prevent undue influence by any single contributor. - Payments in OCLT for services and contractors will be carefully monitored to maintain token value.
Strategic Goals and Additional Measures: - Members agreed to explore mechanisms to reward token staking without compromising token liquidity. - Proposed measures included incentivizing long-term holding with tiered benefits and creating a reserve to manage token stability. - Special attention was given to ensuring contributors could adapt to economic conditions while balancing token circulation and staking.
Token Allocation: Discussion covered the strategic use of tokens, ensuring their stability and usability in payments.
Program of activities and proposals for next year
Whitepaper notification
Decision to Notify: Members unanimously agreed to notify the CSSF of the MiCA-compliant whitepaper upon the completion of the revamped website.
Notification will include: - Full MiCA-compliant whitepaper content in human readable HTML format as the Commission RTS has not yet been published, hence no adopted taxonomy exists to allow production of iXBRL - Marketing materials prepared to meet regulatory communication standards.
Technical Standards: Members debated whether to wait for finalized regulatory technical standards but ultimately decided to proceed with draft standards. - The whitepaper will be hosted on the website by December 20, 2024, and the notification will be sent immediately after.
IT: Website revamp
Enhancements: The revamped website will: Include integrated crypto payment solutions for memberships. Support the upcoming initial token offering with dedicated pages for whitepaper and marketing materials. Launch is scheduled for December 20, 2024. Domain Secured: - In addition to offchain.lu, the team successfully secured the domain "blockchain.edu" for future educational initiatives.
Marketing: New concept and Bitcoin Strategic Reserve
Social Media Growth: - Current efforts focused on LinkedIn, nearing 600 followers, with a goal of reaching 2,000. - Event strategies included increasing visibility during the Luxembourg Blockchain Week and engaging key players in the ecosystem.
Partnerships and Branding: The marketing team emphasized leveraging partnerships to boost awareness of the OCLT token and OffChain Luxembourg initiatives.
Bitcoin Strategic Reserve Proposal: The proposal aimed to position Luxembourg as a leader in blockchain adoption by establishing a Bitcoin Strategic Reserve.
Key benefits discussed: Diversifying national reserves with Bitcoin as a strategic asset. Strengthening Luxembourg's financial and technological innovation image.
Members agreed to conduct a feasibility study, including: Evaluating economic and regulatory implications. Exploring partnerships with blockchain-focused entities.
Without need of use of the weighted voting system, because of unanimous vote, Offchain Luxembourg commit officially to “Orange Pill” Luxembourg and the Grand Region.
