AirDAO Council: Meeting minutes — November 11th, 2023

GM AirDAO Community,

After a fantastic few weeks in Istanbul, the team has returned home to continue this exciting journey. Istanbul was the first time a large majority of the council were together simultaneously, and it did not disappoint. We attended multiple web3 events, including Binance Blockchain Week, Staking Summit, and Dev Connect. We co-hosted our first event with our partners at DWF Labs, attended by many of their portfolio companies and our key partners. We had our own meet-up with the AirDAO community, some of whom came to Istanbul specifically to spend time with us. We were in Istanbul to build a stronger relationship with our community and key partners and to understand the changing web3 landscape and how we can continuously improve AirDAO. We met many who we can collaborate with and received multiple pitch decks to review in the coming weeks.

A huge shout-out to Burak, our Turkish Community Manager. He was a fantastic translator and tour guide for us throughout our time in Istanbul. It was a pleasure to see how respected he is by his fellow community members, and he is a real asset to this project.

Now, a round-up of our council meeting, which took place on Tuesday, November 14th:

Present: All AirDAO Council members

Michael Grimwood — Community Representative, Council Chair
Alina Tustanovska — Finance and Legal Council Member
Sophie Bein Mack — Operations Council Member, Council Secretary
Igor Stadnyk — Blockchain Development Member
Seth Duodu — Community Council Member
Matthieu Bourlon — Community Representative Council Member
Oleksandr Yaniuk — Community Representative Council Member
Oleksii Pyltsov — Community Representative Council Member
Oleksii Dmytrenko — Community Representative Council Member

Technical development

A huge milestone week for AirDAO, with the tokenomics update hard fork due to go live on November 15th. Andrii Moiseenko and Igor Stadnyk have engaged with our node operators and CEX partners to ensure their nodes are up and running to avoid significant deposit and withdrawal delays. (Now, writing this post-meeting, we can confirm this has been a huge success with no network downtime. Deposits and withdrawals have resumed).

The Council will need to be ready on the 15th to engage in several transactions to halt node rewards and print the final amount of the 6.5bn supply before the hard cap is coded in the blockchain. (Again, all completed and funds secured on the MultiSig).

Legal

Alina Tustanovska is working on the Modus agreement, which will be ready for review by the end of this week.

Governance Working Group

The GWG has been working well together and has been split into multiple working groups. Sefe (@sefeoyin) & Nasir (@nasgarba) have been voted in by their peers to lead, and they have worked together to form the ongoing development program for the coming months. The Council has observed from afar, and the group is moving forward rapidly. Well done to those taking part, and thank you for your commitment. Alina Tustanovska will update the community in more detail on the coming Town Hall at the end of November.

Ecosystem builder team

The Ecosystem builder team presented their findings, progressions, and proposals for the next four months. They have worked on various product books, completing the AirBond Marketplace, staking, and staking updates with the wallet and DEX to follow. Once complete, they will be handed over to the technical development team to build and implement after community engagement.

It is becoming clear that delivering these products is paramount and will require significant project management across multiple functions. Therefore, we need to consider who will lead in various aspects. Before proceeding to technical development, we will engage the community in working groups to discuss the product frameworks.

Once we finalize the product framework, we will present the product development roadmap to the community along with specific timelines, which will be visible on the website. The Ecosystem team has also fine-tuned pitches for various ecosystem stakeholders. While technical development can be a form of marketing, it is also important that we position the project for those who are interested in our product on a macro level; this will feed into our marketing strategy.

Ecosystem development

Oleksii D is making significant progress with his plans to improve our network’s decentralization. We’re aiming to improve our coverage in underdeveloped regions and will be looking for potential community partners to run nodes in regions such as Africa, SEA, and South America, to name a few. Further news on this will follow in due course. While we’re already highly decentralized with 150+ nodes, it is important that our decentralization is also spread worldwide more sustainably.

Oleksii D has also collated feedback on several third-party platforms and found inconsistencies, some still referencing IoT and supply chain and the Ambrosus name and logo. He will continue connecting with the platforms to ensure a consistent narrative and avoid confusion.

Recruitment

DWF Labs has been incredibly helpful during the recruiting process and kindly connected us with some fantastic candidates who completed our own panel of profiles. We’re still seeking a Regional Manager for Asia. We’re also looking for a Community Manager for India and a Regional Manager for LATAM. We’ll hold interviews over the coming weeks and expect to fill these positions before the year’s end to support our growth ambitions in SEA and South America.

Ecosystem partnerships

After much confusion in the community, we can confirm that DWF Labs will receive 833,336,145 AMB in exchange for their $7.5m investment in our ecosystem. As announced, the deal was a 36-month vesting deal with a 12-month cliff. DWF Labs will receive its first payment on October 3rd, 2024, of 280,112,045 AMB, followed by 24 payments of 23,343,670 AMB on the third of every month. This corresponds to our agreement of a 15% discount on the market price. The coins will be locked in a smart contract before the first payment is due in October 2024.

We appreciate that right now, not all decisions are in the power of the wider community; the AirDAO Council was elected to act in the community’s best interests and will continue to do so. Our ambition is to continue increasing transparency and our sophistication as a DAO as time progresses. We’re excited about our future with the wider community having greater decision-making power, and our work with the Governance Working Group will help achieve this.

Thank you all for taking the time to read this update and for being a part of this project.