Meeting Date & Time: Friday 19, January 2024 00:00 UTC
Meeting Recording: See README
Meeting Slides: https://docs.google.com/presentation/d/1ZTxTJ35IxFIcEGLL4vgB9COCnCphKioTNbt8Utei-1E/edit#slide=id.g19157ff4f70_0_0
- Background: Initially, a pool of tokens was allocated as a Mining Reserve for the Filecoin economy. The community was designated to decide the token distribution through Filecoin improvement proposals (FIPs) or similar processes.
- Current State: The FIL mining reserve is held by f090, a multisig actor with 3 signers and a 2-signer approval threshold. These signers, who are also account actors with wallet keys, can unilaterally move funds or change terms, contradicting decentralized governance principles.
- Issues:
- Centralization Risk: The control by three individuals opposes the decentralized governance ethos.
- Security Concern: Potential economic harm to the Filecoin network if 2 out of 3 keys are compromised.
- Operational Overhead: Managing reserve changes via signed transactions by msig signers is cumbersome and against decentralization.
- Conversion: Change f090 actor type from a multisig to a keyless account type (similar to f099).
- Governance: All changes to the mining reserve to be proposed and governed via FIPs and the network upgrade process.
- Benefit: Enhances network security by distributing control of 15% of the total network token supply from three individuals to the broader network participants.
- Improvement: Transfers ownership and control from individuals to network participants, bolstering security.
- Implementation: Anticipated as straightforward, ideally to be included in an upcoming network upgrade.
- Feedback: Solicit community feedback on potential downsides or overlooked aspects as a FIP draft has been opened and this improvement should be an easy one.
- Acknowledgement of recent transitions in team dynamics and work interests within the ecosystem.
- The group is positioned as an open-source community working group, designed to support collaboration.
- Meeting times and communication standards, including the primary platform for updates (e.g., Slack), are open for adjustment to suit participant needs.
- Members are encouraged to inform the group of changes in participation.
- The policy for joining is based on existing members' consent.
- Emphasis on maintaining a robust meeting agenda and an updated participant list.
- Members are urged to communicate any changes or suggestions to improve the group's functionality.
- Members should provide feedback and communicate any changes in team compositions or individual participation.
- Assess if the current meeting time remains suitable for all members.
Kaitlin Beegle (Filecoin Foundation)
- Project Delay and Next Steps: Original goal to open initial PR by mid-October was delayed due to unforeseen effects and changing dependencies.
- Workflow Change: Approach to the workflow has been altered for transparency and efficiency. Emphasis is now on finalizing implementation details of the PR first, followed by finalizing the policy.
- Deliverables Status: Six high-order deliverables proposed as part of FIP0001v2 were outlined, including their current status and the need to adjust workflow communication.
- Community Feedback and Iteration: The proposal received significant comments, mainly from core developers, necessitating numerous unresolved changes.
- Flipping the Intended Workflow: The approach is reversed from the usual process, focusing on finalizing implementation details before finalizing the policy.
- On-Chain Voting Tool Development: Development of an on-chain voting tool is underway, seen as critical due to Filecoin's token utility and ecosystem structure.
- Filecoin Community Guild: Establishing a body of community experts to decentralize FIP oversight, aiming for more codified, interpretable, and inclusive governance.
- Community Participation: Encouragement for community members to join monthly governance calls, review on-chain tool specifications, and contribute to discussion threads and PRs.
- Technical Review Challenges: Addressing the low engagement in technical peer review and exploring potential incentives for more active participation.
- Resource Allocation Concerns: Discussion on the allocation of budgets and resources within the Filecoin Foundation, emphasizing the importance of governance projects and the need for financial transparency.
- Editorial Limitations: Acknowledgment of the limited number of editors for FIPs, highlighting the need for more contributions and possibly incentivizing editors.
- Governance Challenges: Discussion on the complexities of changing a governing system within such a large ecosystem and the prioritization of certain aspects due to resource constraints.
Jennifer Wang (Lotus)
The following Filecoin Improvement Proposals (FIPs) are being considered for inclusion in the nv22 Dragon network upgrade:
- FIPs Last Call: 15 Jan 2024
- Code Freeze: 30 Jan 2024
- Calibnet Deployment: 20 February 2024
- Mainnet Upgrade: 18 March 2024