Minutes of the Forta Governance Council (8/30/2022)

Council Members

  • Demian Brener
  • Jeremy Sklaroff
  • Jonathan Alexander
  • Juan Garre

Opening

The Council meeting opened at approximately 8:00 pm (UTC) on August 30th, 2022. It was noted that proper notice had been provided to the Council in accordance with the Bylaws. 4 of the Council members were in attendance and the meeting had a quorum. Three Council members were absent from the meeting for personal reasons. The Council consented to certain third parties’ attendance at the meeting to present to the Council, as well as to the appointment of third-party notetakers.

Update on Previous Action Items

The Council discussed the status of ongoing action items. The Council noted that the Foundation’s participation in Gitcoin Grants Round 15 is set to begin on September 7, 2022. A Council member highlighted the importance of providing grant opportunities to developers keen on building and maturing the Forta Network. A Council Member indicated that FP-3 was live in the Forta forum for community discussion following the Council vote to put matters related to delegated node staking to a vote of FORT token holders, and voting on FP-3 will take place on the Forta Snapshot between September 5 - 8, 2022.

Additional Grants

The Council discussed ongoing grant opportunities and the importance of supporting the Forta Network’s continued integration into the Web3 ecosystem, in line with the Council’s mission to steward the continued evolution of the Forta Network by facilitating the collective action of its community. The Council asked questions regarding the potential grant opportunity with a Web3 data aggregation platform that had been discussed in prior meetings, which would involve integrating Forta alerts and threat detection bots into the platform. The Council agreed to review the structure of the relationship and to continue the discussion at the next Council meeting.

Node Operator FORT Rewards

A consultant for the Foundation gave a presentation regarding the state of the Node FORT reward program to the Council, and highlighted that currently 400,000 FORT rewards are being provided to node operators every week. The Council discussed the Network’s operations, and the potential impact the minimum node stake increase - set to come into force on September 30, 2022 - would have on the number of nodes on the Network. The Council agreed that the impact the minimum stake increase has on the number of nodes on the Network should be measured and reviewed, and to continue this discussion at the meeting following the increase.