Meeting Minutes Date/TIme: 14-Apr, 2023 / 3 pm CET
Next Scheduled Meeting: TBD
Meeting Minute Writer: Deep Sea (JD Sutton)
Video Recording:
ACTION ITEMS FROM LAST MEETING
- [x] Get communities input on AMAs
- [ ] Create a tracker to evaluate percentages of success for project
- [ ] Create a tracker to evaluate percentages of grants within certain categories
- [x] Review and prepare all invoices for mid-April disbursement
- [x] Finalize the wallet tracker that Pathin is making
- [ ] JD to start developing the SMR-USDT exchange process written and thought out.
- [ ] Continue on quarterly transparency report
- [x] Continue and get schedule assessment from MiDAO
- [ ] JD to start developing the SMR-USDT exchange process written and thought out.
Meeting Minutes
- Introductions
- Discussed some treasury management. Opportunity to do an OTC transfer for another $100,000 USDT from SMR.
- This should cover us for the next 3 months to cover grants, salaries, and incorporation creation expenses.
- Looking at financial standing for next 12 months. The approved grants to date after 2 weeks make up 11% of an estimate initial 6-month budget.
- Discussed the speed at which we are approving grants and potentially how fast we may go through the treasury assets.
- Garret: Discussed experience with seeking funding from other grant treasuries. Showed concerned about the extent at how high funding we are giving and fairness. Can we have a standard and ensure that projects don’t have the funding themselves first, and are simply seeking free money. For example, like a DEX. DEX’s should have their own funding and income, so they don’t necessarily need grant funding. Can focus on projects that are focusing on infrastrucutre that supports the ecosystem but income may not yet be setup.
- Garret: Maybe we take a bit more time reviewing proposals and do a monthly focus. We don’t want to give funding too easy, but we don’t want to be too stringent. Rather be consisitent.
- JD: Agree with points about setting a standard that is fair. That we should focus on slowling down the process and ensure fiarness that projects are getting funding for services and products equally. I invited Umair and Marcus to help evaluate the technical and cost review of projects to ensure the requested funding matches industry standard.