Council Members Present:
- Demian Brener
- Hart Lambur
- Jonathan Alexander
- Juan Garre
- Jeremy Sklaroff
- Mat Travizano
- Tomasz Stańczak
Opening
The Council meeting opened at approximately 3:00 pm (UTC) on February 7, 2025. It was noted that proper notice had been provided to the Council in accordance with the Bylaws. All seven 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 non-disclosure agreements. These minutes have excluded certain sensitive details concerning such subject matter.
Forta Firewall Update
The Council received a presentation regarding the launch of Forta Firewall and the success of integrations with initial users, including Balmy, Plume and Mode. Question ensued regarding the adoption of various decentralized protocols and applications, including the technical requirements for L2 networks and DeFi protocols to integrate Firewall. It was noted that initial users had reported success and no false positives for the solution had been identified and that overall feedback was very positive. The Council reviewed the Firewall application user interface and its features and all questions were answered to their satisfaction.
The Council discussed the potential to integrate Firewall into the decentralized Forta Network and economic models for the technology. Following discussion, it was agreed that feedback from Firewall users should guide the Forta community in determining if and when Firewall should be decentralized.
FP-8
The Council reviewed the Forta Proposal #8 that was currently in an open voting period on the Forta Snapshot, which proposed to remove the minting function from the FORT token smart contract. Discussion ensued regarding the feedback from Forta community members and general industry sentiment regarding removal of the minting function, and it was agreed that if the community approved the proposal the Council should sign any related transactions in order to implement the change.
Forta Network Rewards
A proposal was introduced to reduce node runner rewards in the Forta Network from 50,000 FORT per week to 30,000 FORT per week. The Council reviewed data regarding such FORT rewards over the history of the network and the impact of reductions in FORT rewards against the number of node runners in the network. It was noted that the number of nodes in the network was more than sufficient to meet the security goals of the Network and that reducing rewards should better promote a healthy node running community and more sound incentives.
The proposal to reduce weekly FORT rewards was passed by the Council following the approval of more than half of the active Council members in accordance with the Bylaws.
Financial Update
A presentation regarding the operational expenses of the Foundation and its funding efforts in the Forta community was provided to the Foundation. Updates regarding the Foundation’s staff members and third-party consultants and it was concluded that the Foundation remained in a healthy position to continue to carry out its mission. There being no further matters to discuss, the meeting was adjourned.