Preface:
Current Directors
As per TFIP-17, ([TFIP-17] Extending the TrueFi Foundation Board of Directors - #5 by vandynathan) voted in September 2024, there are five directors Ferengi, Krysh, Seb Davies, Romain Rechtman, and Nathan Vandy. The directors’ term is set to end on September 30th 2025 or earlier if a director resigns.
Given that there is a need for leadership stability at least at the directorship level, I propose that a majority of the directors be given an extension to March 31st, 2026. The original TFIP-17 provided for a simple governance guideline vote to extend only to Dec 31st, 2025. However, a longer period and a non-year-end holiday period timing for individual director re-elections I believe is better.
Proposal:
This TFIP provides the extension for four out of the five directors elected or had their term extended last September 2024 below:
Romain Rechtman
Sebastion Davies
Krysh Type3
Ferengi
Please see their original Board Candidate proposals here:
The new Directorship Term End is proposed here to be now March 31st, 2026.
The Compensation and Commitment for the Director Roles will be unchanged at:
A monthly retainer of $2,000 for basic responsibilities, covering up to 4 hours of work per week (paid in stables or TRU)
Beyond the basic retainer, additional work and operational duties will be billed at a rate of $200 per hour
In the case where this proposal is not voted through:
If this proposal is not passed, then the term of the directors may end on September 30th 2025, and a follow up simple extension proposal will be posted for an extension of the existing board members if and at such time to December 31st 2025.
To memorialize the proposal on Tally, 8,000 USDC (1 month of director fees) will be withdrawn from Timelock contract to the Truefi Foundation Operational Treasury address.
Next Governance Steps
As the proposals does not fall under the simplified governance exemptions, the proposal will require the following steps:
Forum Posting: A 72-hour posting period on the forum to allow the community to provide feedback.
Snapshot Vote: A 48-hour Snapshot vote will be conducted with the options: “OK to vote on Tally,” “Not OK to vote on Tally,” and “Abstain.” At least 5% of staked TRU must participate in this Snapshot vote to meet the quorum.
Amendment Period: If the 5% quorum is met, with a majority negative vote, a 72-hour period will follow to allow for any amendments or discussions before the proposal is posted to Tally.
Tally Vote: Otherwise, the proposal will be posted to Tally for the final vote.