Quick recap

The steering committee discussed the current financial status, worker proposals, and performance indicators. They reviewed their budget status, which showed a surplus, and discussed potential adjustments based on future goals. Wayne suggested increasing the marketing budget and adding a developer, while Luke proposed converting the non-fio runway to a stable coin or another currency. The team also discussed making token purchases more accessible on their website and implementing a widget to generate extra revenue.

Summary

Steering Committee: Budgeting, KPIs, Revenue Sources, and Future Plans

The steering committee discussed worker proposals and budgeting for May, June, and July. They reviewed their current worker proposals for February, March, and April, which were under budget by $5,300. Key performance indicators were discussed, with the team meeting two out of four KPIs in February. Wayne provided insights on revenue sources and breakdown, as well as the performance of different partners. The success of marketing campaigns, including the growth in followers and funds recycled back into promotions, was also discussed. Wayne mentioned upcoming events and future plans, including the Token 2049 event in Dubai and the main net by Mosari. He also proposed securing a booth at these events through a collaborative effort with partners, but no final decision had been made on which event to implement this strategy.

Integration Updates and Future Collaborations

Wayne covered several key updates and ongoing projects. He mentioned the completion of the integration with CoinStats and progress with Trust Wallet, with an expected completion by April or May. He also touched on the Bed OPCO registration, the upcoming integration with Tangom around May or June, and potential collaborations with Scale, Flashy, and Fouria. Wayne discussed the integration of the field token into various platforms and ongoing discussions with partners like Swan Bitcoin, Chappies, and Zingo Wallet. He also mentioned the creation of a template deck for partners and the development of a tracking spreadsheet. Wayne highlighted a pause in work on two exchanges due to high listing fees and invited others to access their partnership tracking page and template.

Jira, Ambassador, Core Worker, and Satisfaction Survey

There was a discussion about the use of Jira workflow, with Luke proposing its use and Wayne expressing concerns about data cleaning and potential duplication. Wayne also provided an update on the Ambassador program, with Marie and Gil reviewing applicants. Pawel then shared a proposal for the core infrastructure worker, discussing their performance and ongoing issues. He also reported on the results of a survey indicating a significant improvement in worker satisfaction since the last survey in September 2022.

Coin Stat Partnership Proposal Discussed

Wayne Marcel proposed a partnership with Coin Stat, a platform with a large user base, to integrate the field protocol into their wallet and portfolio tracker. The partnership, expected to cost 5K, was initially priced at 15K. Wayne shared that Coin Stat has agreed to provide a link for users to register handles within the wallet. Potential integrations, such as adding a field blockchain option and enabling users to register their free user at Coin Stat, were discussed. Pawel Mastalerz inquired about the possibility of using Fio within their wallet, which Wayne confirmed was part of the integration plan. The Mo has been sent to Coin Stat for their signature to finalize the partnership.

Income Drop, Treasury Boost, and Development Efforts

Pawel reported a drop in income for the foundation in January and February, but highlighted the potential for significant impact if more income sources are identified. He also shared that the Treasury had increased by 40% to almost 8 million dollars, primarily due to positive momentum in the crypto market. The team discussed the possibility of reestablishing stable coin reserves and the implications of Bitcoin's increasing presence in investment portfolios. Pawel proposed increasing the development effort on the video app by adding another developer, which could be funded through the next round of worker proposals. Luke reported on his past mistakes and the effectiveness of their current system for catching such errors. The team also discussed the current status of the ethereum ecosystem and the May-July budgeting, noting that worker proposals would start May 1st and the current funding level stood at 25 months with a combined runway of 46 months.

Marketing, Research, and Development Budget Adjustments

The team discussed the business trajectory and potential adjustments based on future goals. Wayne suggested increasing the marketing budget by 6,000 to 7,500 per month, investing in an updated research report, event sponsorships and attendance, and commissioning a new research report. Adam also agreed on the need to focus on developer resources and potential app features. Luke proposed converting the non-fio runway to a stable coin or another currency to balance the financial load. The team also discussed the need for additional development resources and increasing their marketing presence. Emily expressed concern about a significant increase in the budget without a corresponding increase in revenue. Pawel suggested a modest increase in the marketing budget and adding a developer to double their development capabilities. Luke emphasized the importance of reaching the right audience and suggested learning from other models. Pawel concluded by announcing that he would propose adding a developer in the upcoming worker proposal round.

Fo App Widget Purchase Proposal

Wayne proposed implementing a widget in the Fo app to facilitate the purchase of F tokens, which are currently difficult to acquire via the app. Pawel expressed reservations due to potential legal complications, user experience issues, and lack of demand. Emily, however, suggested giving it a try if the legal aspect is resolved. The team agreed to further investigate the idea.

Widget Implementation Risks Debate

Emily suggested the implementation of a widget to potentially generate extra revenue, despite the legal risks involved. Pawel, however, expressed concerns about the risk it posed to his merchant accounts, stating that the expected revenue was too low to justify it. Wayne suggested that the risk could be mitigated if the token purchases were handled by a third party. The team agreed that there was a gap in their current system where users could not easily purchase tokens. The discussion ended without a clear decision on the widget's implementation.

Token Purchases, AI Marketplace, and Smart Agent Code

The team discussed the potential of making token purchases more accessible on their website. Emily, Wayne, and Luke expressed support for this idea, emphasizing the importance of customer experience and ease of access. Pawel suggested taking the discussion offline for further exploration. Additionally, Luke introduced a decentralized open-source marketplace for AI tools, highlighting its potential for generating recurring revenue. He also proposed the idea of a smart agent code that could guide users through the process of setting up a crypto handle.

North AI Project Excites Luke, Pawel Agrees

Luke expressed his excitement about a new project called North AI, which involves contributors submitting code and earning rewards. He suggested that this model might be considered for their own project. Pawel found the funding model interesting and agreed to collaborate with Luke. Adam was still processing the dashboard issue, while Wayne suggested scheduling another meeting to further discuss both proposals. They agreed to continue the discussion in an upcoming call.

Next steps

• Wayne will submit his deck for the NFT and YC talk.

• Wayne will continue to work on partner integrations and update the tracking spreadsheet.

• Pawel will provide an update on the Ambassador program progress.

• The team will continue to work on the Metamask snap and content updates on the website.

• Consider adding another developer to the team to double the development effort on the fee app.

• Pawel will propose adding a developer to the team starting May 1st.

• Luke will explore ways to contribute to the North AI project and collaborate with Pawel.