Dogeparty Foundation Meeting – 05/18/2022

Written by Ernest Alexander

May 24, 2022

On Wednesday May 18th, five of the eight Dogeparty Foundation directors joined their monthly scheduled call to present updates on several initiatives and to discuss new business. 

Jdog started the meeting with an update on the DIP3 implementation. He shared that the change was made successfully and is now live and available for all users of the web wallet. DIP3 allows token owners with 100% of supply in their possession to convert their token from divisible to non-divisible.  The process destroys all existing supply and issues new supply according to the parameters set by the owner. The feature is not yet added to the desktop wallet but will be added soon. Xcer committed to posting an instructional video on dp.university to help users successfully navigate the process.

With the VinDAX exchange listing now live, Jdog will begin contacting Coinmarketcap.com and Coingecko.com to gain a listing for XDP. 

The XDP buyback process is still ongoing and the Foundation now holds 29,617 XDP.

Doggfather was given the go-ahead to post a job description for a Dogeparty Community Outreach Manager and begin soliciting applications from qualified candidates.  The best candidates would be screened and findings presented to the Foundation directors as part of the next meeting update. A strong interest was also expressed in setting up a weekly Twitter Spaces to provide better engagement with the community.

Several community members had brought forward a concern about transaction fees on the platform being too high compared to everyday Dogecoin transactions. A new Dogeparty Improvement Proposal, DIP4, will be researched and outlined. This would update the protocol to make the transaction fee dynamic based on the current blockchain transaction activity. At the moment the fee is hard coded at 1 DOGE. The core developers will work on costing out the proposal and updating the federated Dogeparty node to the latest version of Dogecoin to accommodate this potential update.

The question was raised as to the possibility of adding smart contracts to the platform. While technically possible, it was explained that the process was quite complicated and would require a significant effort. In addition, several other updates and improvements would need to be implemented first. This will remain an open possibility for some time in the future as other efforts will take priority for the moment.

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