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UPDATE | 2020 Q1
Between the new year and the end of March, VBIF continued to support the protocol through providing secure infrastructures to ensure a distributed federated set, evangelized the protocol through our podcast and social media contacts, and continued to support governance efforts to ensure a healthy protocol.

We continue to contribute 50% of earnings to the grant pool as originally pledged, and we remain solvent to continue this for the foreseeable future.

[B]Twitter metrics Q1[/B]
13 original tweets, 8154 impressions

[B]Grant Pool Calculator[/B]
We created a Python based repository for calculating the future grant round value given the current efficiencies. The calculator determines the current grant round, estimates a payout block as close to 23:59 UTC (divisible by 25 + 1) to maximize the utilization. The future grant contribution calculation part of the repo is complete. Waiting on some additional development to move forward to incorporate the existing grant pool value into the repo to be able to calculate the complete value. We intend to use this tool to calculate the 2020-02 Grant round that is expected be opening up the end of this month.

If anyone is interested in trying it out, you can find it [URL='']here[/URL]. Always open to suggestions / improvements.

[B]VCC Exchange Code[/B]
Nolan created python-based code to interface with the VCC exchange API. This is still in an early stage, but open for use by the community if they would like to trade within the VCC exchange [URL='']here[/URL].

[B]COVID-19 Economic Recovery Team[/B]
Nolan was hand selected to participate in an economic recovery team as the state of West Virginia eyes how to reopen for business when the pandemic subsides. This is not specifically for Factom, but does offer an opportunity for the protocol, and in general blockchain technology's value to be put front and center of political and economic leadership. One facet that is particularly interesting and potentially valuable to the protocol is the modernization of credentialing processes throughout the state and nation to better facilitate interoperability and support during times like we are facing today. In 2017, for instance, credentialing gaps delayed employees and volunteers from contributing much-needed skills in disaster areas during one of the worst hurricane and wildfire seasons on record while Federal agencies inadvertently issued interim clearances to individuals with criminal records. Secure, Modern, Mission-Capable Credentialing is showing promise and there are potential opportunities for public-private partnerships within the state. We will continue to pursue this effort. The 2020 Coronavirus Aid, Relief, and Economic Security Act contains billions of dollars worth of funding to improve telehealth, rural community access to telecommunication-enabled information, audio, and video equipment, as well as broadband expansion to unserved rural areas.

[B]Crush the Street[/B]
As previously posted, Kyle was able to setup a speaking arrangement for Mr. David Johnson to discuss Pegnet and the versatility of the Factom Protocol in February. Unfortunately, this was posted around the same time it was identified that someone had left their Pegnet wallet exposed (and unencrypted). This was disappointing as we see the dumping of the tokens onto the market resulted in a stagnation of momentum. We are remain strong proponents for and invested in Pegnet and will continue to find opportunities to bring our contacts to the community to evangelize the Factom Protocol and Pegnet.

[B]Governance Working Group[/B]
Following the disbandment of guides, Nolan has pledged a seamless transition and volunteered for the governance working group. There are a number of documents that will be brought forward for ratification as well as other initiatives that will work to improve the protocol governance.

[B]West Virginia University[/B]
[*]Continue working weekly with the Dean of Strategic Initiatives to establish a partnership between West Virginia University and the Factom Protocol.
[*]Holding bi-weekly teleconferences with several department chairs to catalyze interest in becoming an institutional ANO
[*]Holding bi-weekly meetings with the Dean of the John Chambers School of Business to establish a framework/sandbox in which WVU, the state of WV and the Factom Protocol can collaborate.
[*]Continuing the work to create an annual, Factom Protocol sponsored hackathon in which the Factom Protocol will be the sole-source blockchain in which students, university, and state leadership will begin building real-world applications.

[B]Carnegie Mellon University[/B]
This is still an ongoing effort for us. Understandably, we are having to develop relationships and work our way higher into the departments to engage with the decision makers and authorities. We will continue to work on this relationship and will provide updates as it develops.

[B]Server Drawdown[/B]
We are evaluating the opportunity to reduce our federated server hosting to one as has been supported by the Standing Parties. Should we decide to move forward with this we will likely reallocate our resources to better support the testnet.

Thank you to those who have held us to higher standards (and asked more of us) as the standing system has gone live. We look forward to continuing to provide value to the protocol and working with you to elevate the Factom Protocol to the level we all know it is worthy of.
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