Minutes of the Forta Governance Council (9/20/2022)

Council Members

  • Hart Lambur
  • Jeremy Sklaroff
  • Jonathan Alexander
  • Juan Garre
  • Tomasz Stańczak

Opening

The Council meeting opened at approximately 8:00 pm (UTC) on September 20th, 2022. It was noted that proper notice had been provided to the Council in accordance with the Bylaws. 5 of the Council members were in attendance and the meeting had a quorum. 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.

Outcome of FP-3 FORT Token Holder Vote

The Council reviewed the results of the FP-3 FORT token holder vote regarding delegated staking, which took place between September 13-16, 2022 and confirmed that FP-3 had not been approved by FORT token holders by a narrow margin. The Council discussed the feedback that was received from the Forta community before, during and after the voting period. It was noted that there appeared to be consensus in the community that delegated staking is an important feature to be added to the Forta Network.

A Council member suggested that they could collect and incorporate community feedback and adjust the FP-3 proposal into a revised FP-4 proposal, and subject to any final comments from the Council, the Foundation should host a FORT token holder vote on the updated FP-4 for the community to determine whether to implement the revised delegated staking proposal. After discussion, the Council agreed.

Forta Slashing Policy

The Council discussed the progress on the creation of a slashing policy following the community’s majority approval of FP-2. It was noted that a potential slashing policy had been shared in the Forta Forum and that community feedback on such policy had been incorporated in the current version in front of the Council. A Council member suggested various ways the community could play a role in the arbitration and slashing process and discussion ensued. It was noted that the architecture of the Forta Network allowed all the data required to arbitrate and slash according to the policy to be found publicly. The Council suggested that the Forta Foundation explore arbitration and enforcement methods for slashing in other protocols and present a final policy to the Council for review, comment and final approval at a subsequent council meeting.

Services Agreement

A Council member introduced a proposal to update the fee schedule and enter into a new SOW of work under a services agreement in place between the Foundation and a Web3 development firm that would contract for the recently approved development work related to FPP proposals. A consultant to the Foundation noted that the fee schedule updates would alter the payment terms for such work so that the Foundation could pay a portion of the fees in FORT tokens and the monthly fees for such development work would be capped. A Council member asked a question about the structure of the fees changing from hourly rates to monthly rates and following discussion the question was resolved. The services agreement, statement of work and updated fee schedule were circulated to the Council and it was suggested that the Council review the agreements in detail async as a written proposal, which would also allow absent members an opportunity to review, comment and vote.

Two members of the Council voluntarily abstained from the discussion and subsequent vote of the proposal due to a conflict of interest in accordance with the Bylaws. The written proposal to approve the services agreement was passed by the Council following the approval of more than half of the active Council Members eligible to vote in accordance with the Bylaws.

Gitcoin Grant Program Update and Potential Grant

A Council member presented an update regarding the outcome of the Gitcoin Grant program (Round 15) that the Foundation participated in pursuant to the vote of FORT token holders on FP-2. It was noted that Forta received nine valid submissions from the Gitcoin community and the Forta Network received increased awareness and new individuals entering the Network as a result of Foundation’s sponsorship of the Gitcoin program, despite some existing members of the Forta community winning grants as well. The Council agreed that opportunities similar to the Gitcoin Grant program should be explored in the future.

A Council member provided an update on an ongoing grant discussion with a Web3 platform interested in integration with the Forta Network to the Council, and provided the Council with a summary of the potential benefits and drawbacks that may occur should the Council approve the grant.

Network Feedback

A Council member presented feedback from developers in the community regarding the visibility provided to such developers regarding the network of scan nodes, specifically how scan nodes are measured from a security and reliability standpoint. A Council member shared the community-developed Dune dashboard and the Network section in Forta Explorer with the other Council members, as it was suggested it may provide better visibility. The Council discussed several additional practical steps that could be taken to improve visibility within the Network, and increasing this visibility could assist in promoting the health of the Network. The Council agreed that any future roadmap for Forta’s development should incorporate the operational visibility for scan node operators as suggested by the developers.

Closing of the Meeting and Async Action Items

The Council members agreed that the meeting notetakers should circulate meeting minutes encompassing both the council meeting matters and the matter to be presented and decided upon following the meeting as a written proposal for Council review before such minutes are released to the Forta community.