Council Members Present:
- Demian Brener
- Hart Lambur
- Jonathan Alexander
- Juan Garre
- Mat Travizano
- Jeremy Sklaroff
Opening
The Council meeting opened at approximately 3:00 pm (UTC) on August 9, 2024. 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. It was noted that certain Council discussions would be sufficiently sensitive that they should be excluded from meeting notes according to the Bylaws, such as conversations about protocol security and topics protected by NDAs. These minutes have excluded certain sensitive details concerning such subject matter.
Forta Network Update
The Council reviewed a summary of activity in the Forta Network since the last meeting. It was noted that the Forta Vault smart contract had launched and currently has over 4M FORT under management. It was also noted that the approved proposal to reduce FORT rewards for node operators has led to a reduction in overall node operators, but the node operator community remained strong. The Council agreed no further action regarding rewards for node operators needed to be taken at this time.
Transaction Screening Solution
The Council picked up its discussion of the proposed transaction screening solution that had been approved at the last meeting. A consultant to the Foundation provided the Council with an overview of the solution and the Foundation’s next steps. It was noted that due to the solution gaining traction, the Foundation staff should help facilitate the drafting of a community governance proposal to solicit feedback and approval of the community to integrate the solution into the Forta Network as it continues to evolve. The Council reviewed the Foundation’s mission and agreed that the Foundation should continue to move forward with the prevention solution as it would empower the Forta Network and its community.
Forta Network Slashing Committee
A consultant to the Foundation provided the Council with a refresh of the Forta Network Arbiter Role, which currently consists of 3 individuals who are responsible for receiving, reviewing and resolving the outcome of slashing proposals in the Forta Network (more here). The consultant also noted that, to date, no slashing proposals had been received by the Slashing Committee. It was noted that one member of the Arbiter Role had become unresponsive despite the Foundation’s repeated attempts to make contact. The Council agreed that the Forta Network needed a committed and responsive Arbiter Role, and a Council member made a proposal to replace the unresponsive member with a new member to ensure the Arbiter Role continued to operate effectively.
The proposal to replace the unresponsive member of the Arbiter Role with a new member was passed by the Council following the approval of more than half of the active Council members in accordance with the Bylaws.
Agreement Renewal
The Council reviewed the avenues Forta Network participants have at their disposal to acquire FORT in order to run a node and deploy a bot, and agreed that obtaining FORT continued to be imperative for the security of the Network. The Council discussed the renewal of a related agreement including the negotiation and diligence process that was undertaken by the Foundation. The Council agreed that the Foundation’s renewal of the agreement would be in the best interest of the Forta Network, and a Council member proposed to approve the renewal of the agreement by the Foundation.
The proposal for the Foundation to renew the agreement was passed by the Council following the approval of more than half of the active Council members in accordance with the Bylaws. Certain details have been excluded from these minutes in accordance with the Bylaws, as they are confidential matters subject to non-disclosure agreements with third parties.