Quick recap

The steering committee reviewed the core infrastructure worker proposal, which is under budget for the current period. The team explored various payment processing options and reviewed ongoing integrations with various wallets and platforms, including progress with Bitpanda and CoinPlus. The committee also discussed pursuing an ICANN application for a new domain extension, exploring funding options and potential partnerships to support this initiative.

Summary

Infrastructure Worker Proposal Review

The monthly Steering Committee meeting reviewed September's performance for the Core Infrastructure Worker Proposal, which was under budget and saw increased domain registrations. Pawel reported progress on extending the existing Oracle to the Base platform for decentralized wrapping, aiming for a rollout this month. Wayne and Pawel discussed payment processing options, noting that Stripe remains the primary payment method for their services, with recent support for stablecoins.

Maintenance Worker Proposal Review

Wayne presented the Maintenance Worker Proposal's results, highlighting a revenue exceedance and successful partnerships, while Luke praised an innovative idea that significantly improved the foundation's financials. Wayne presented a maintenance proposal for October, highlighting that they achieved their revenue target and exceeded goals for partnership MOUs, engagement rates, and social media output. The team reviewed ongoing integration efforts with various wallets and platforms, including progress with Bitpanda, CoinPlus, and several Layer 1 chains.

FIO-Web Domain Integration Partnership

The meeting discussed the potential partnership with U Registry to integrate FIO domains with web domains, leveraging FIP44 to extend FEO domains into the web domain space. Pawel explained that while FIO initially focused on crypto payments and handles, there's now an opportunity to apply for a .feo GTLD through ICANN, which could cost hundreds of thousands of dollars. The team is considering fronting these costs in exchange for revenue, as they aim to map FIO domains to DNS records and bridge Web3 domains with web domains.

The steering committee discussed pursuing an ICANN application for a new domain extension, with estimated costs around $220,000-250,000. They explored several funding options, including a partnership with Unregistry, community funding with first-registration rewards, or potential support from board members or block producers. The committee noted that while the domains would not be available until 2027, this could be an opportunity to attract traditional domain investors to the FIO ecosystem. Wayne agreed to follow up with Unregistry about potential collaboration and planned to present the idea to the board in December.

Next Steps

• Wayne: Make himself available for the board meeting scheduled for either the week of December 1st or 8th

• Pawel: Roll out base wrapping to the oracles in the next few days, hopefully next week

• Pawel: Deploy a change to the dashboard to support base wrapping

• Pawel: Coordinate with market maker regarding base wrapping

• Pawel: Schedule FIO Foundation board meeting for first half of December

• Pawel: Check with board on the process for appointing Frank once he completes his requirements

• Wayne: Invite steering committee members to board meeting to give update on worker proposal

• All worker proposal leads: Submit all payments by the 15th for worker proposals that ended at the end of October

• Wayne: Set up a conversation with Unregistry about the .fio ICANN domain application

• Pawel and Wayne: Discuss the .fio ICANN domain opportunity with the board in December

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