Quick recap

Pawel discussed the progress of the core worker proposal, the development of a scoring model for block producers, and the automation of burns on the Polygon side. He also announced the upcoming name resolution functionality from the Metamask team. Wayne presented the August 2024 Growth Rev. Ops. report, discussed marketing collaborations and partnerships, and expressed concerns about the company's current model and the need for effective future work proposal management.

Summary

Core Worker Proposal Update and Ongoing Projects

Pawel provided an update on the core worker proposal, stating that they were on target for the budget in August with a slight underspend on dashboard development due to vacations. He also noted an increase in the number of releases and a decrease in the number of protocol-wide handles. Pawel highlighted the resolution of voting bug issues, with a final release expected to fix the last issue. He also mentioned the successful reassignment of 38 million fear tokens for free fear handle registrations. Pawel discussed several ongoing projects and initiatives, including the development of a scoring model for block producers, a new Oracle software version, and the automation of burns on the Polygon side. He also mentioned the progress of a project called "Fear Relic" and enhancements to the testing suite. Pawel discussed the decommissioning of the registration side and its migration to the dashboard of the app, which now has API capabilities. He also mentioned the retirement of the auto bundle service and the introduction of a new tech contact for the blocks explorer. Lastly, he noted a slight drop in domain registrations from the previous month and the launch of Version 25 on August 12th, which focused on bug fixes and usability enhancements.

Metamask Integration and Fio Handle Support

Pawel announced that the Metamask team is set to roll out name resolution functionality, enabling users to interact with the Fio app directly within Metamask. This will allow users to send and receive Ethereum using Fio handles, even if they're not on the Fio app. Fio will be among the first name handle providers supported by Metamask, with the rollout expected in October. Pawel also discussed the development of a new functionality for their product, which would allow users to register a handle and view pending requests within the MetaMask interface. Wayne shared that they were getting traction from the MetaMask team and had released an interview he did with Christian from MetaMask on a podcast. Pawel also mentioned the ongoing efforts to increase community engagement and governance, including the development of a system for users to vote for block producers and the field board directly within the Fio application, aiming for a live implementation in October.

Affiliate Program Updates and Growth Report

Pawel discussed updates to the affiliate program, including paying users for hosting handles on their domains. He mentioned efforts to enhance FIO app security and reported a 20% income increase due to redirecting TPIT rewards, with a 23-month runway. Wayne presented the August 2024 Growth Rev. Ops. report, highlighting being $2,000 under budget and potential for further under-budget spending. He discussed exceeding the monthly target for handle registrations but missing targets for domain registrations and audience growth rate, noting a slight dip in audience growth and decreased social media followers. Wayne mentioned pausing some marketing efforts but expecting a significant impact once a new plan is implemented, and reported collecting some revenue.

Marketing Collaborations and Web 3 Events Update

Wayne discussed the company's marketing collaborations with Ether Mail and a partnership announcement with Yom, a gaming service. He mentioned the release of podcasts, videos, and a Twitter Space event. Wayne highlighted the growth of the Turkish crypto community and a successful Telegram Ads test. He also mentioned discussions with Draper and Less Exchange, and plans to promote Fio handles and domains with a token giveaway at Upliftweb 3. Wayne attended various blockchain and web 3 events like Assemble Blockchain Week, Gamescom, Token 2049, Breakpoint Barcelona, Mainnet, Musicoin, Permissionless, Binance Blockchain Week, and a Dubai Finance Blockchain Week.

Integrating Games and Developing Fio App

Wayne discussed the progress of integrating games onto the platform, with Metami and Field Wallet already integrated and others like Fisa, Less Exchange, Bluebird, and Mighty in the process. He also mentioned the development of a landing page for the Fio app and the creation of a course on Fio for users. Wayne also talked about the challenges faced with Trust Wallet and Binance, and the progress with Wallet X Mica, Ether Mail, and Fastx. He mentioned that some companies like Olympics, Discover Dot Games, Vinyl Lab, and Carnomaly are exploring the use of handles and domains in their platforms.

Discussing Partnership Challenges and Pricing Strategy

Wayne discussed the company's partnership with the field wallet, highlighting the initial cost of 20k and an additional 4k for finalizing features. He expressed regret over the decision to go with a reduced scope of work and emphasized the need to focus on game developers and partnerships like Yon instead of building in web 3. Wayne stressed the importance of managing future work proposals effectively to avoid misaligned expectations, delays and hiccups. The team discussed the challenges of high monthly active user costs and considered adjusting their pricing to match competitors like Meta Keep and 3rd Web, but were concerned about sustainability. They also discussed hosting certain handles on Scale, which required further discussion. The consensus was that they needed to decide soon whether to continue with their current model or explore alternative options, as despite investing 24k, no revenue had been generated from the partnership.

Next steps

• Marketing team to plan promotion for upcoming Metamask integration of FIO handle resolution functionality.

• Wayne to follow up with Metamask team on potential payment request functionality integration.

• Pawel to launch beta version of block producer scoring model to block producers within the next couple of weeks.

• Wayne and Micah to reassess the viability of the FIO wallet product and decide whether to continue or abandon the project.

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