Minutes of the Forta Governance Council (06/06/2023)

Council Members Present:

  • Demian Brener
  • Hart Lambur
  • Jonathan Alexander
  • Juan Garre
  • Mat Travizano
  • Tomasz Stańczak


The Council meeting opened at approximately 8:00 pm (UTC) on June 6, 2023. It was noted that proper notice had been provided to the Council in accordance with the Bylaws. Six of the Council Members were in attendance and the meeting had a quorum. The Council consented to the appointment of certain third-party notetakers and attendees.

Postponement of Previous Meeting

The Council opened the meeting by noting that this meeting was postponed by one week due to a lack of quorum as a result of the Council members busy schedules. The Council agreed that no adjustments were needed to the meeting schedule and the regular meeting cadence should continue as usual.

Update on FP-5: Adding Data Fees to the Forta Network

The Council discussed the recent community vote and approval of FP-5, which approved the implementation of data fees into the Forta Network. It was noted that the FP-5 proposal contained a high-level fee framework and that certain details relating to the actual technical implementation of Bot data fees, including the monthly subscription price for subscribers to the general plan, would still need to be approved through the community governance process. The Council agreed that an additional community proposal could be voted upon prior to data fee implementation to determine the price of the general plan, as well as set the criteria for how bot developers could break out their bot or suite of bots into special or premium feeds with their own plan. Discussion ensued regarding feedback that had been received from Forta users around potential pricing appetite for various types of data feeds. A consultant to the Foundation suggested multiple ways that special feeds could be proposed and implemented once the data fee architecture was implemented in the Network.

A representative of the Foundation suggested that the Scam Detector, a bundle of underlying Forta bots collectively built and maintained by certain members of the Forta community and administered by the Forta Foundation, could be submitted as one of the initial premium feeds to showcase the capabilities of the Forta Network. It was also noted that other successful bots and specialized feeds could be encouraged to create special feeds when data fees are ultimately implemented.

The Council turned its attention to the operational aspects of the data fee structure, smart contract roles that may need to be delegated or designated, and other aspects of the fee structure to be automated, including fee distribution. The Council agreed that the operational details of the fee structure should incorporate the community’s feedback. Following discussion, the Council requested that the Foundation commission an explanatory document on the operational aspects of the data fee architecture to be shared with the community for feedback which could help form a proposal to approve final implementation of data fees.

1 Like