Quick recap

The monthly Steering Committee meeting covered updates from worker proposal leads, including Nicolas's report on January financials showing a negative net profit of $1,400 and a Treasury of $1.5M, and Wayne's maintenance work proposal highlighting revenue of $12K and partnership progress with Bitpanda. The team discussed two vacant positions - one seat on the Steering Committee and two on the Board of Directors, with Emily suggesting potential candidates from Block Producers and Wayne planning to reach out to Ross. The group also explored concerns about generic top-level domains (gTLDs), with Emily explaining the challenges around domain collisions and revenue projections, while Nicolas agreed to provide a list of current registered domains to help refine estimates. The conversation ended with discussions about the organization's financial runway and the need to evaluate cost-cutting measures by the end of March.

Next steps

• Wayne: Send a message to Ross (from UOnline) regarding potential board/Steering Committee participation

• Wayne: Review partner chat and consider other candidates for vacant board/Steering Committee positions

• Nicolas: Provide the list of currently registered domains to UOnline for more accurate revenue projections

• Wayne: Review current subscriptions for potential cost reductions

• Nicolas: Review subscriptions and infrastructure for potential reductions/shutdowns

• Nicolas: Ask developers in his team about potential interest in joining the Steering Committee

• All: Prepare for discussion on extending runway and potential budget changes before end of March

Summary

Steering Committee Discusses Fund Management

The monthly Steering Committee meeting began with Nicolas welcoming attendees and outlining the agenda, which included updates from worker proposal leads and open forum discussions. Wayne inquired about Luke's work proposal to change, which Luke confirmed had been approved with a $75 fee for the Cayman entity. Luke also mentioned that funds were running low for paying people, but the market maker had indicated they could continue pulling funds. The committee agreed to discuss the state of remaining funds and the impact of the brutal market on the next Steering Committee call.

Financial and Partnership Strategy Review

The meeting covered financial updates, partnership progress, and operational discussions. Nicolas reported a 36.5K budget for January, with a 12K underspend, and highlighted a 48% decrease in domain registrations compared to previous months. Wayne presented on maintenance work, noting a slight budget overspend of $128.97, and discussed ongoing partnership efforts, including progress with Bitpanda and potential integrations with several wallets. The team discussed a vacant board seat and the need to consider block producers for governance roles. Emily raised concerns about the high cost of applying for new top-level domains and the potential for domain collisions, suggesting further analysis with Nicolas' help. The group agreed to reassess their financial situation by the end of March and consider cost-cutting measures, including potentially automating protocol operations.

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