AirDAO Council: Meeting minutes — November 21st, 2023

GM AirDAO Community,

Yet another installment of AirDAO Council minutes following our meeting on November 21st, 2023. This week, the dust has settled after the tokenomics update, which is now gladly behind us. The whole team has a massive sense of excitement for what will come in the following months with a jam-packed development roadmap. (We’ll release the roadmap very soon!)

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

Governance

The Governance Working Group (GWG) has agreed to present its progress to the wider community at the next Community Town Hall (Nov 29th). They’ve made huge progress in workflow and organization within the group. The GWG is currently assessing viable facial recognition solutions within the web3 space; this will feed into the development of Soul Bound Tokens (SBTs) so that we can begin to build a real DAO community.

Modus

Alina Tustanovska and Michael Grimwood have met with the Modus team multiple times to finalize the investment contract. We will conclude the investment in the following weeks and send the investment capital to their team to ramp up development. 2024 looks to be packed full of growth. The Modus tech team will meet with the AirDAO tech team to discuss and assess a smooth transition onto the AirDAO network. So far, we’ve had some great feedback from the community, and RWA projects are a hot topic in the industry. If you haven’t already, join their Telegram and Discord to stay updated on their development.

Community

While price isn’t the overarching point for discussion, we understand that the community is concerned with the current price of AMB, which appears to be a prominent point. The AirDAO council acknowledges the desire for price appreciation in the long term. We’re focusing our attention on project development, which will drive improved utility of the network, and this will be supported by a strong marketing strategy so that our ecosystem can capitalize on all fronts — please be patient a little longer for some exciting updates. A special mention to Occasini, a community member and node holder who has provided the team with regular constructive feedback for us to implement improvements. We hope to see more of this from others as we evolve.

Ecosystem builder team

The product books are nearing completion, and the AirBond Marketplace will be the first product we will present to the community for review and feedback. The tech team will also review and draft, ready for production. As written in last week’s update, this will feed the product roadmap of key deliverables and timelines for completion.

Ecosystem development

As announced, 15m AMB was purchased from the market to fuel further nodes in the network. We’ll host these nodes in new global regions to further increase decentralization. Please note that these nodes must be run by those with the technical expertise to run them. Our existing node holders will be perfectly placed to capitalize on this opportunity. Anyone willing to support this initiative will have to go through a KYC process.

Recruitment

Council members have spent the week interviewing potential candidates for various positions around the globe. We have received many credible applications and will have some exciting updates in the coming weeks. Growing our community is a core objective, so we must ensure the right people lead the charge.

Investment opportunities

We received several investment pitch decks while in Istanbul. This week, we discussed two of them — a multi-chain gaming project and a sports prediction project. While these are great projects, the council has chosen not to progress these opportunities as GameFi is not a core target for this phase of our growth, and we hope to attract projects more aligned with the DeFi sector. One of them was also very costly, and we’re conscious that while we have a healthy runway, we want to avoid exhausting it too promptly, and we will have the right opportunities to come forward.

Treasury yield

We also discussed treasury management solutions to capitalize on the runway we have. Projects like Compound, Open Eden, and others present the opportunity to generate 5–7% APY — a sizable return on investment compared to the funds sitting dormant until use. Further conversation will take place to ensure whatever solution we adopt will be as secure to protect the future of this project. If the community has any suggestions, we’re happy to hear them.

Thanks for reading all, and for good measure: DEXs, buyback, burning mechanisms, and the Binance Monitoring Zone tag are still on our agenda (we presented our regular monthly update to our Binance account manager this week.)