Note: This is the first Hamza Public Town Hall Open House. Previous tokenomics sessions in summer 2024 were hosted on the Loadpipe Map Blog.
The first Hamza Community Town Hall on Discord provided updates on the project’s progress, including platform developments, tokenomics, and community engagement. The team shared milestones such as the deployment on multiple chains, growing traction with users, and ongoing fundraising efforts. Discussions included plans to distribute the Hamza token internally and explore a utility-driven token for transaction fees. Operational updates highlighted the onboarding of sellers, manual seller processes, and efforts to standardize procedures while building in public. The session emphasized the importance of community feedback, governance proposals, and scaling the platform with user-driven improvements.
Transcript:
(00:00) [Music] so yeah I’ll go ahead and get started welcome to the the well I mean I guess it’s not the first hza town hall but it’s the first one christening our this move to the new Discord with you know and we’ll you know it’s just a place yes thank you thank you thank you wait waiting music I think waiting music is is on the client side David so there should be like a a button in the bottom left to mute music or unmute music did that solve it for you I see I see yeah this is fancier boat it’s like speaker
(00:34) audience yeah I have it muted for mute for me I don’t know how to turn it off like at the system level or if it’s even possible to turn it off at the system level I’m sure it must be but if it’s not too much of a problem then and you can mute it yourself then yeah then maybe we can just go ahead and get started okay cool cool cool so it’s been a long time since we’ve done a more General town hall and we wanted to just sort of start up the tradition again and give some updates on what’s been going
(01:05) on generally with the platform the sort of trajectory of where we’re going and then open up the floor for just as an AMA for any questions that anybody has for me and Mike I think going forward and in the future we may do some interviews with with I know Mike is going to be doing some interviews with sellers on Twitter spaces over the course of the next few weeks we may do some internal interviews here with some developers and some people in the operations staff but yeah for now we’ll just do a little bit of an update and
(01:38) and then open the floor up for questions so I mean as as most of I’m familiar with almost everyone in the audience at this point but not everyone we’ve we’ve been live for a few months now we’ve been aggressively adding features and to the point where we’re now deployed on multiple chains we’re processing transactions we’re processing transactions from people that we don’t know which is nice people who we haven’t directly like reached out to or anything like that so we’re starting to get some
(02:06) um natural traction we are starting to see the the page views tick up getting a little bit more Revenue into the system and then we also produced our white paper and launched or kicked off our raising round and to give a little bit of insight into that so we produced a white paper which was very much a draft I don’t know if anybody if everybody’s here here has had a chance to take a look at it but it presented an idea for the tokenomics and then we started Distributing that around to get some like legal
(02:39) opinions oh can am I still can people hear me I hear you the whole time okay yeah I’m I’m not just sure what to say David it might be I don’t know it could be you could be me but but yeah as long as nobody else has a as a problem I’ll just keep on going yeah I think just going yeah so we distributed the white paper we gave it around to get some legal opinions and to get some just opinions from other advisers and experts in the field and got a lot of like really good feedback I do think that we
(03:10) may end up changing some things in the near future that nothing nothing is like fully decided yet but in terms of the token the one that has been described as the Hamza token is likely only going to be distributed internally and as part of a limited public or like a private Equity sale um because it looks an awful lot like a security and so we don’t want to do like a public sale of it we just want to use it as a rewards for the team and as an internal governance token and then we may move forward with launching
(03:45) a a more like a speculative utility driven token which we’ve been calling dcom sort of at the at the same time but with a much more limited functionality than what we had first theorized for it but the base fun fun ality being that it would be required to to pay like the the transaction fees or the protocol fees for any initiation of an escro contract which which has its own like sort of cool implications for what it means we have to do uh in terms of spinning up like liquidity pools for each of the currency pairs that it’ll be operating
(04:18) on but yeah so so we’ve got a lot you know we we’ve started that fundraising round we’ve got features pushed we’ve got a lot of work has been done on the token and the Dow I should be releasing the n ft for our the sale that we did in November later today and yeah that’s that’s what’s been going on sort of on the the like Tech and web 3 side um Mike do you want to give us an update on what’s been going on in terms of like the actual operation and sales and everything like that sure so we’re we’re
(04:52) proud to say we’re we’re we’re working product like Bose says we have real customers real orders happening on the platform and we are scaling that up even during this call our lead Dev John has giving me some some data that there’s some order I’m I’m losing track I used to know most of the people buying I’m losing track of I don’t think I know all of the buyers I know most of the sellers still but it’s just really exciting and like you said we’re going to have a Twitter space or X spaces I feel Weir I
(05:21) say xace going to call it Twitter space Thursday where we’re going to take a few of our first sellers so we just opened up five a cohort of five sellers that were on boarded to the production or the live Hamza market last week mid to late last week and we’re building a public we could have waited for another few months or half a year to have everything perfect but we wanted to have a working build in public environment so there it is a little bit rough on the edges I’m literally explaining to Jose about the
(05:56) escro release button for his book but it’s a exciting times and so we’re working on a regular process of onboarding Sellers and products where with with regular Twitter spaces starting this Thursday just like this first town hall we’re going to have regular Twitter spaces for decom talks is what we call it for now and we’ll Spotlight some of the vendors and some of the product we talk about some of the transactions so more about like you said the operations of the business answering people’s questions about what we’re
(06:30) doing and trying to engage the community but it’s definitely getting exciting we’re also working to standardize the procedures Sops this keyword standard operating procedures for onboarding sellers servicing buyers support documents Jose here who’ll probably come up later Jose is doing great as being flexible a lots of things are changing and we’re building as we go so we’re figuring out how to leave reviews now I think the review button just got added the seller console is very manual the
(07:03) seller process is very manual you cannot be a seller automatically we have to kind of manually add you and manually add the products but I don’t know about you Bo but I I actually prefer it this way we get to actually build with users alongside them rather than kind of guessing what want so we’re we’re even changing some of our priorities based on some of the requests from sellers so it’s been exciting I will prefer it when it’s fully automated but I agree that I like the process that we’re going we’re
(07:33) building through the automated process with with the view of like what sellers actually need and seeing yeah I mean like we talked about it this morning but like even seeing some of the places where there’s some like pretty obvious features that should have been added that we’re like oh well that that makes a lot of sense is not incredibly hard to implement and so getting those things added to the dev Sprints and making sure that we’re just making this experience as easy as possible great man yeah so so we’re also
(08:01) yeah so we’re trying to just kind of you know improve the process and the team and the procedures and and scale I talked to a potential investor just this weekend and he’s like oh scale it I’m like we are we’re adding on all these the the bus is moving we’re adding on and so he’s interested he’s happy to hear that and to follow up with some more information yeah I mean like it makes me think about like it’s been I don’t remember the last time we had a town hall it must have been in like summer of
(08:30) last year but yeah it’s like kind of wild to think about just how how far we’ve come since we since we did these or even like the one that we did in like January of of 2024 when we had just started building everything and getting like we were I I remember you know the doing a Dev update when we had just selected the Medusa framework as the one that we were going to be the JavaScript implementation and just like talked a little bit about that and give the just the distance that we’ve covered since
(09:01) then to now we’re like yeah things I think are still a little janky if if please excuse my language but they’re you know they’re they’re working we’re processing orders it’s pretty cool we can watch them on on ether scan we’re seeing payments get released and and things like that and so it’s it’s taking in view of the like sort of small victories that we have had and yeah I mean I think we have a much clearer vision of the future one of the other things that I wanted to do in this town
(09:30) hall is like sort of in the spirit of like actually having a town hall is thinking a little bit about Community governance and we have a lot of people here who are like involved would be involved in governing our community and so I think I hope that all of you should have access to it or at least most of you should have access to it there’s a channel in here called the internal team proposal and the internal team proposals are basically like governance proposals for implementing certain things that affect the community and there’s one
(10:03) open one right in in there right now called the token compensation revamp um anybody who was at AR Kumbaya on Friday I talked about it there but please go and go and take a look if you haven’t had a chance to look at it what up Chris oh Goodbye Chris and but yeah so this that’s one of the other purposes of like having the town hall is to start opening up discussion on these team proposals and the first one is just a revamp of how How We Do Fiat compensation versus token compensation and so that’s sort of
(10:34) the unless Mike do you have anything more you’d like to talk about before jumping into that I like it but maybe I justce it for myself but probably others who can or should be able to access what your because this is is this a or maybe even clarify who should be listening to this I believe you’re okay with this being record this will be recorded in public you know in the following days but who are we engaging with for that I’m not even sure your answer I’m curious to hear your answer who could I
(11:02) I’d love to involve The Wider Community but can they at this point or or who would be able to access this or how could people access this well so it’s a it’s an inter like I said it’s an internal team proposal internal okay I mean I think part of the exercise here is about like talking about these sorts of issues in public and talking about the different things that we’re planning on doing in governance in public because like I don’t think there’s anything like privileged about this proposal it’s how
(11:30) the Dow chooses to engage with its contractors and and and the mechanism by which compensation is awarded to contractors and so this is a proposal of of like how how a framework for negotiating that and yeah if you would like act I mean I don’t know do you think we should move that into a more public forum because right now everybody here has access to it besides kuaa unfortunately sorry I don’t I I don’t know I don’t know that we’ve ever met before but I imagine not not a part of like the the team I guess the reason I
(12:04) bring it up is is for the for the archives and for us but maybe over time it could evolve to be a public Community disposal but for now it’s a team only proposal but we’ll discuss it in the public is what he said so I think that’s that’s good so then these these would be discussed in discussed in the in this format of a call and this this is planned to be every two week is that am I correct in saying this is like a bi-weekly first of are we going to do this every two weeks approximately I mean or I guess if needed or I’m just
(12:39) trying to give more like this the kind of structure for myself as well as those listening wellcome well I mean I think it’s yeah welcome B yeah I mean I think it’s it like like I said this is the first one that we’ve done in a while and so it’s about establishing these sort of like governance rituals and like how do how do we go about discussing the things that we need to do and this is like so so an open house town hall is like yeah it would be a time for people to make open proposals to have a discussion
(13:09) about what they think ought to change about the Dow I I do think it should be you know the discussion should be open to anyone so it should be transparent anybody can like watch and listen but if you’ve read our white paper then one of the the core like philosophies that I think I have is is about like you you don’t want to give everyone permission to make a proposal if they have no stake and that is not only from like a a a civil resistance and like perspective like you don’t you don’t want the Dow
(13:41) itself from a at a contract level to be overloaded with proposals that need to be cleared before anything else can be done and so so part of this is about like who who has the power to make a proposal and to and then demand a vote on something because also it’s like you don’t want to overload people with governance pressure I mean for instance right like the internal team proposal on compensation the reason why I kind of want to bring it up is we haven’t I haven’t got a single comment on it and
(14:10) it does affect sort of everybody in the Dow if we were to adopt something like that and we need a system to to understand like what should we move to in terms of token compensation and I think there’s like a lot of moving pieces that go into that discussion but that’s why I would like to have that discussion but generally yeah I have no problem with these things being posted I don’t think should discuss I don’t think we’re discussing anything sensitive and I think like it’s the ethos of the Dow
(14:38) to be a little bit more open and honest about the things that we’re considering great so so with that said yeah I do think that this should happen once every two weeks I think we need to develop some sort of cadence for governance and just get into the practice of doing it and then ideally as the community grows as we have more and more stakeholders we as we have more and more voters that have a state think and know where where decisions will impact them then we have a forum for for actually like having
(15:05) these these discussions okay thanks sorry just just thought before we jumped into proposals so this would be like the first proposal of today’s town hall right so we kind of opened up almost trying a template for these calls so we warmed it up gave some updates and then we jumped into this first proposal right is kind of the format just to again Circle back make yeah and this is the first one token conversation proposal just to help everybody understand I’m sorry you broke up uh I was you know I’m
(15:37) get I’m just trying to help and maybe it’s not helpful but I’m trying to back up make sure everybody understands so we kind of opened up this town hall gave a couple of updates like you’re you share some things I share some things and then you open this is like the first proposal that we’re starting with in the today’s Town Hall I hope we’ll see I mean I think that we should let it evolve as it happens right and I’d like to do some other things with the town you know again like I said
(16:03) have some interviews and and talk to people about their philosophies and their feedbacks and on on the things that and the directions that we’re going and the things that we’re doing but but yeah I mean one thing to to note is that this is specific to that this is like about Hamza right and Hamza is the the company that is running you know it’s a dowo but like a company that’s running the front end for this e-commerce Marketplace and and so yeah any time we we need to make a decision about something that requires a vote this
(16:33) should be the place where we discuss it but yeah I mean we can also open up with a whole bunch of different things we can have interviews we can have Dev updates it’s I don’t think it’s I I don’t think we it’s it’s set in stone what what this should be other than it’s a forum for us to discuss and give updates on what’s going on inside Hamza okay clear thank you uh and so with that said I’ll go ahead and talk a little bit about this proposal just raise your hand if you’ve had a chance
(17:00) to to look at it and how would people raise do people know well I mean I think you can react right like you can even I’m having it’s like a different interface there’s a I’m not even fting the react person thumbs up I see your thumbs up but even I’m not yeah thumbs up in the chat if you’ve read it I no worries again we’re talking more more of to the team at this point but okay so it seems like not everybody has really had a chance to look over it yet I think we talked a little bit about
(17:33) it on Friday but the general structure of it I’m I’m no no no no so Jose I’m not talking about our our white paper I’m talking about the compensation revamp document so if you go to the left in the Hamza Discord there a place for the core team and then there’s a internal team proposals here for making proposals and the the only one in there right now is the to compensation revamp which is we had been yeah no no no worries we had been very early on in Hamza Distributing tokens using a system
(18:08) called coordinate and coordinate yeah thanks Mike coordinate yeah please refer to the picture that Mike put in the the chat coordinate was a system where we just signed each other and the the the team was like small enough at the time to just assign each other how how valuable we thought everybody’s contributions were over the course of a month no worries John very happy you’re on a mountain and I hope it’s lovely and exhilarating John’s currently on vacation in Japan and seems he’s having
(18:42) a lovely time thank you for showing up by the way I don’t think he can hear he might hear us he us coordinate what he might not be hearing us I think but no worries so we had been using coordinate and it just became cumbersome there was a lot of like issues especially it became weird to like see how everybody was valuing you is a a very strange way to do like General compensation I’ve seen other teams that have used it for like bonus compensation which is a place where it maybe makes a bit more sense but when
(19:16) we’re talking about Distributing like the the the core team like rewards token rewards for uh working on an early stage web 3 project we decided it just didn’t make a lot of sense and so we had distributed a bunch of tokens to teams but then we had yet to come up with a system for how do we get those tokens that have been distributed to the teams down to actual individuals and so the proposal outlines a way to to how we decide how much tokens people get for the work that they do and the simple way of looking at it is that it allows
(19:51) people to choose how much of their work they want to be like as a contractor say you’re making you the industry standard rate for your position is like $110,000 a month you can choose to take less than the industry standard rate and take a certain percentage of what you would be making in in tokens and that that like that has a linear multiplier based on how how much you take so I think we’re limiting on either side 20% and 20% meaning the most you can take in tokens is 80% and the most you can take in Fiat
(20:29) is 80% um so you have to take at least 20% of of either and the closer you are to the maximum so if you take all in in cash and none in tokens or all in 80% in cash and 20% in tokens then you your token allocation will have no multiplier whereas if you take you know 80% in tokens and 20% in cash then the 80% in tokens you will get will be multiplied by I think it was two or three or something like that and but yeah so what we need to vote and decide on is whether or not we think that’s like a fair system of allocating tokens versus cash
(21:07) to people so please yeah if anybody has any comments or any questions please raise your hand you know ask to come on stage and we can we can have a discussion about it so while we wait for that I could just bounce some ideas I mean we we have talked about this I mean I’ve there’s been a I don’t know this what we call it the foundation Shadow Council what’s the term for the foundation I mean there’s been a the Shadow the shadow Council has discuss this has I believe all agreed to this and so the next step would is having so
(21:45) is this like a vote does everybody have to like vote how this how do we pass this or is there just a what what is the process for this being approved I think we should have a public comment period and then everybody who would be affected by it should should vote on it similar to how um we did the the token allocation uh discussion and vote if you remember back in I want to say that would have been July or August it was a similar process but like a little bit less formalized where I wrote a long proposal for how we should do the
(22:18) different token allocations between the team and investors and community and everything like that and how much should be assigned to each person what weight we should give to the coordinate rounds that we had already done and then how much we should allocate to teams I produced that we had some discussions about it whether or not we thought it was fair we made some revisions and then we had sort of a general vote but we just did the vote in Kumbaya and so I think this should follow a similar similar track but we should start
(22:46) formalizing our voting process as if we would be voting on chain uh because eventually we will be voting on these sorts of proposals on chain and so we just need to get into the practice of doing it and so uh yeah I think a proposal should be written it should be discussed in brought up and discussed in the town hall and it should be open for comment for quite some time and then a vote should be called and I think the first hurdle is like clearing the shadow Council and then making sure and then once the shadow council is fine with
(23:14) something then we can put it to the the larger Community anybody who is a voter or has tokens to to get their approval um maybe that’s something that we can do in uh in this in fact is probably something that we should do in this this Discord think of this as like the Hamza governance Discord and the Hamza platform Discord obviously there’ll be some places for Sellers and everything like that but we should probably migrate the governance of this this platform to to there yeah Jose what’s up what’s up
(23:43) bro how are you nothing much I just have a question on the on the on the part of the percentage of of the hamsa token that US contractors would would receive so what are the options after we have this token I mean can we exchange it for something is it can do we stake it what what follows from that so so not so much about like the The Proposal itself but like what happens when you get given the token I guess yeah like almost like a liquidity question is it liquid is it locked I think it’s so yeah so I think right now we’re
(24:21) talking about pre-launch token and so I think that this probably is a different answer what I think the the short and easy answer is I don’t know right but but that is not to say that I don’t have an idea it’s just that like there’s a lot before we’re able to say for sure what that means so so I’ll take the question in like two phases the first is okay the immediate future where we’re we’re working before the token is launched and I think there’s still some things up in the air about what that
(24:53) token launch looks like like there’s some some things that we need to to iron out in terms of of which token people will get how much of which token they’ll be entitled to upon launch um but like let’s say for simplicity’s sake that we’re only talking about the Hamza token and that it’s the pre-launch version of the Hamza token so so when the the token’s launched the allocation that’ll be given to the team so like right now we’re all acre tokens that will be distributed upon like the Hamza token
(25:22) launch the team distribution will follow like the the cliff and vesting curve that we determine for the team and and for the investors and it should be the same so there’ll likely be a percentage of the token that is liquid immediately and then there will be a percentage that is vested over a certain a certain period of time whether that’s like one year or two years and it’ll come in the form of the like State governance token and but yeah I mean after like the the cliff investing period is cleared then
(25:54) it becomes liquid and I think again that that is going to look like the Redemption token that we’ve talked about uh in Hamza and so so this is where we get into the area of like there’s a lot of things like sort of still up in the air and things that have not quite been decided yet and development stuff that needs to happen but if we’re also launching the the dcom token at the same time then then some of that like you the fact that you have been getting the Hamza token means that you’ll be entitled to some of that airdrop as well
(26:27) it’ll probably be like a smaller percent percentage but maybe more like relative to the the like the total circulating Supply at the time of launch but that will also have to follow some cliff and and vesting curve so some of it will be liquid some of it will not and again all please I’m I’m pretty sure that’s what I would be advocating for but we don’t have any of this set stone so so none of this is like for sure but that’s likely what it’ll look like and then and then we took and then there’s like this
(26:57) question of okay so that’s now pre-t token but we will have a system for determining token versus cash compensation for contractors post token launch as well and I think that the answer to that might be different right I think it’ll follow the same framework where if we accept this this idea that contractors can sort of choose what percentage they want based on an industry standard pay and the amount of like whatam weall it discount they’re they’re willing to take on an industry standard pay I think I think that that
(27:29) if we accept that framework then we’ll probably still have it post token launch but the question of whether or not that token when you’re awarded it is liquid is like that’s that’s a little bit farther off than I have a good answer for does does that help does that clarify yeah that was my other question actually if you had a system for for converting stablecoin or or other tokens into that new token and pretty much clarified that because having a certain percentage of your of your compensation
(28:00) in that token presupposes that there is some such mechanism in place right yeah I mean so I mean I think we’re talking about it it’s it’s it’s different because the the the mechanism by which like those let’s say those notes are convertible is different in the case of the two separate tokens right and and this is we know that this this has always been the plan the question is like sort of timeline here but and again I I think that this will be the case but the conversion of the Hamza token
(28:31) right it’s going to be more of an internal token and private equity share right so the convertibility of the Hamza token is within the platform and within it’s it’s like Redemption From the Vault the the gas token however the decom token which is required to pay the fee theol fees vote on product catalog is required to to initiate a dispute you know like those those sorts of things for the like public goods infrastructure that we’re building the convertibility based of that is going to be based on liquidity right and
(29:03) so they’ll have to be it’ll be something that you can trade on a DEX if you wanted to or you could stake it but yeah the the percentage of which like that when we’re giving it to contractors the percentage of it that will be immediately vested versus or like immediately staked or locked versus how much is liquid when when we give it to contractors I I it could be 100% could be 0% could could have a cliff vesting scale schedule I I don’t think I’ve thought that far yet but but yeah I mean
(29:33) I’d be interested to hear what you think it ought to look like it’s a tough balance right because when you when we give out the Hamza token it’s convertible for treasury assets and so it would be like just like sort of paying out of the treasury and so then what’s the point of someone not taking just cash right cuz like if you think about it like if so so think about this scenario we give out the Hamza token according to this and we give someone 50% in cash for their contractual work and then 50% in the Redemption token but
(30:11) the 50% in the Redemption token is following like a multiplier because it’s not all being taken out in token if we gave it out and it was like not locked then they could just immediately convert and end up taking home in cash more than if they had just taken 100% in cash I don’t know if if if everybody’s following that logic but but that would be the the functional how it would work would work in function so it seems to me that like when we’re giving out the Hamza token it it should be true that
(30:42) it’s in like some sort of locked form because the idea of taking token as opposed to cash is that you’re like deferring some of your reward for a higher percentage of something of of this like this Stak token or a higher ratio of the stake token token uh according to to like the industry standard pay and so so it wouldn’t make sense to just give it out and allow it to be immediately redeemable I think that question is different when we’re talking about the dcom token but because the dcom token then it’s like okay well
(31:14) you could sell into the liquidity that exists you could convert it maybe it wouldn’t be as much you know I think logically it probably could have some sort of Cliff or vesting period but yeah I I I’m not sure guess Jose I don’t know if he said you didn’t have time to read The Proposal the point is that you you H at least what it says and I think the core part of it is you have to everybody working in this company or this what do you call it in this organization will have to receive at least 80 at least 20% of
(31:51) either either side Max 80% of either side so you’re going to have to receive at least 20% in cash or eight quote unquote cash and and or 20% in tokens so you’re if you’re very risk you really believe in this and you you don’t need maybe cash shortterm you could go as high as 80% in token if you’re the other side and you’re very conservative and you you just want the shortterm stability the most you could get is 80% and and stable cash and 20% with of your total compensation would be in toal
(32:29) I think that’s a core part of this proposal and there’s also this formulas for how to figure out the compensation and I think it was very well written Bo I think he took got some inspiration from other other sources but he came up with this and that’s basically I hope people here understand so no coordin tape anymore for those that were here for the coordin tape like Bose says this would be how people are getting token and they can decide how much of their total compensation would be in token versus quote unquote cash to
(32:58) to the 8020 maximums range is that is that clear I mean please still read The Proposal but I I’m trying to simplify it for for those that haven’t seen it yet yes of course I’ll read The Proposal but yeah I get it now it’s it’s a way of of supporting Community growth that that’s how I see supporting the organization growth I’m sorry no I mean yeah it is but it’s also a way of like I would what I would say is like the idea is to award people in equity right or award people in in voting power
(33:35) right and and this is distinct from like when we’re talking about like token sales right because because that’s like sort of the problem problem you run into legally when you’re talking about crypto and token sales is like when you’re trying to do like a a public token sale of equity of a platform right but that’s different when you’re doing like when you’re rewarding like a a a contractor with or rewarding an employee with Equity within the company and so it’s yeah the idea being that like you can
(34:08) work for just more power within the system and the the system should be able to reward you with that and so yeah we don’t want to make it I think immediately convertible to cash because that’s the whole point of like allowing people to choose how much they need in cash versus how much they want in power or want in in token and and everything like that okay that’s clear now so Bo do we give some kind of deadline or time frame I mean I’ll just try to push this along how much time do you think people
(34:37) should have for reviewing and oh I will send another message today and then let’s say it should be accepted like we should have a vote by next Monday okay so the 17th of February 2025 okay cool this is please Elders can I think you have the requests but we can just let you come up on stage and you can ask we want you to be comfortable with this where do we vote where do we vote Bo where do we vote for this I’ll set up I think so Fred and Heidi I think this is a job for us this week is we need to think about how to do
(35:17) some some voting on in this like how to do it through Discord we can set up a meeting about this because we could also do we could do it via snapshot and we could distribute some tokens to people some like sort of placeholder tokens to enable the like snapshot voting but let’s look into what the best way to do a vote on on a proposal is would be because I mean like there’s a simple way which is we could look at the if you look at the The Proposal you can react to the proposal and we could just do like reactions up vote down vote right
(35:53) but we could also do it yeah so like if you look at the proposal I just did left a thumbs up up on it and we could do it that way where we’re looking for just simple up vote down vote we could do a Channel all all on its own where it moves fromal to to actual voting but yeah I mean longterm we’ll we’ll do something else but yeah Fred Heidi please please message me after the the town hall and we’ll we’ll have a quick chat about it sick okay well are there any other comments on the proposal
(36:27) comments questions or just if not then I’ll open it go ahead sorry I don’t I was just saying or any other feedback but yeah go ahead okay if not then if there’s any then I can open it up in general if there’s any questions about Hamza the progress that we’ve made uh things you’d like to bring to our attention questions from your mic then yeah please please raise your hand and come on stage if not I have some seated questions that people might either not know to ask or I I could prep for to
(37:05) seed all right I could break the ice to ourselves but I think people should prepare I don’t know if we should do a vote we’ll probably start to move to stablecoin from from Bitcoin soon so I don’t know if we want to give people a choice sooner we’ve talked about that but we were wor to make it too complicated but we will be working moving toward towards a usdc or usdt stable in the near future I believe yeah that is true we will start to be doing ethereum based payments on optimism in the next few months which is
(37:44) sort of natural right like um given that all of like our our revenue is on ethereum chains and it’s all coming into a vault and a dow managed byza like all our smart contracts to deploy on ethereum and so this transition was always was inevitable but yeah I mean maybe this is a is something else that we need to make a proposal about uh just in terms of like what do people actually want to be paid in right because we could we could standardize it and we could just say that everybody gets paid in USD or usdc I know I would prefer not
(38:19) to be paid in USD or usdc but but yeah I mean I wonder I wonder what people’s preferences are I mean obviously it’s like the rates that we we pay out at are in US dollar terms and so it makes it pretty simple in terms of conversion so we don’t have to think about like what the the 5day moving average of Bitcoin is but but I wonder do people actually would they prefer it in in usdc or WRA Bitcoin or ethereum or maybe a topic for another day but if anybody has any questions or or comments on the subject
(38:55) please feel free yeah food for thought but I guess I just vote for Simplicity I mean I I’m not as involved as you are in the process but it takes a decent amount of brain power and resources so I just worry to have too many choices as too much complexity and even cost of time right and resources so that’s just my thought but yeah we true no I mean and it’s it’s simple enough right like sorry I think the simplest way to do it honestly is to pay people in ethereum because it is standard but it also means
(39:33) that like if if a person wants something else right like they can do the swap themselves it’s on optimism so it cost you know basically nothing but giving paying out in eth means that people can swap it for stable coins immediately if they want to but it also avoids the case where they don’t have any like eth in their wallet to like pay gas fees true so so like that’s that’s the only counter argument I have there but like I also think that shouldn’t be like a huge issue everybody should know that they
(40:05) need like a couple of sents of eth on optimism in order to to make swaps and transactions I’ve been sharing a couple of crazy I don’t know for some reason the metamask feed account feeds in my Twitter now but they have account abstraction I think it’s only an L on Main net though but they do gasless swops and bridging natively metamask now hm yes hka just said the same thing but I think it’s only mainnet as of what I just saw I saw that same thing hka but I think it was main that only for now but
(40:39) I’m sure they’re probably who sponsor is it metamask I mean it’s from the official metamask account on on Twitter and they put like a little short video and an announcement literally like at least I saw like last week and then I saw another one about the bridging I think that was even over the weekend or late last week so you can bra the l2s from Main that inside metam mask which I know has been painful for us so that should be that’s what I’m actually bullish I know people picking on ethereum I don’t want to get too off
(41:10) topic but this whole bridging and account abstraction I think is getting solved pretty quickly interesting yeah yeah was is putting some links in chat no no no I yeah I just saw yeah that’s I mean that’s crazy though right like I mean I guess it’s maybe not that much in the grand scheme of things but like if metamask is just like sponsoring swaps on mainnet like swaps on mainnet are like can get pretty pricey well I don’t think that they pay the fee I think they pass the fee in the other currency I think so if you’re
(41:44) swapping in usdc and the gas is $30 on Main net you’d pay $30 usdc I believe it’s not they don’t okay so they’re not their transactions they just pay it in okay okay okay okay so it’s just like I could have $1,000 in usdc and they’ll sponsor the transaction but then take the the value of the gas fee in usdc that makes sense okay well I mean yeah if there’s no other questions or or comments on anything I don’t know do you guys want to talk about like we have a little bit of time and I wouldn’t mind
(42:20) talking a little bit about some of the projects that I’m like following right now and some like dropping a little bit of like crypto Alpha I mean I don’t know if anybody has any suggestions or if they’ve been looking into any projects that they think look promising I mean I literally as we’ve been talking I sometimes get you I still I’m addicted to Twitter on my phone I I I scrolling just now and Arthur Hayes just said on Twitter if he’s showing barain and it just did their tge a few days ago and it
(42:52) went from like $15 to like $5 in like a day and he says note to projects when working with market makers and and exchanges please do not go out to maximum value at launch give room for your user yeah he says don’t do what they did he says like and I hope we do that I really hope we’re trying to be organic but basically saying is give some upside for your retail buyers right don’t don’t dump on don’t put at max value I think we complain about I don’t call it too many projects but I think some other
(43:29) projects it also hurts the the Project’s reputation cuz people remember that in a community yeah I mean look that said I’m I’m watching bar chain like I like this is the thing is like I got a little bit of the airdrop I definitely want to buy more and I’m actually kind of happy that it’s been going down in price um because I think that it I I don’t know this is one of the projects I was going to mention cuz I’ve like I’ve been watching bar chain for like a long time and they
(43:57) I’m I’m excited that they finally like launched and so I’ve been I mean has anybody like around on their dexes or anything like that no well I was thinking about running a validator because they’re like a huh don’t keep going that’s awesome I mean we’ll see I mean I I do think it’s like it’s a good team like with a good marketing budget I think they they bungled the launch a little bit but I generally have have some pretty good faith in their ability to to drive liquidity to the chain and I think
(44:31) that’s like maybe the the better metric rather than like pure token price because they did just give out like a big airdrop and a lot of people just sold immediately and and yeah I mean like I think arbitrum did the same thing right yeah so when arbitrum launched a huge airdrop like to a bunch of people and they you know the token price went down but their token price has like doubled or tripled since then and so I mean I don’t know I like their R shade yeah I haven’t followed a project I just remember they had how I remember them
(45:03) they had like bikini girls with huge bear masks running around at conferences and on ski jet skis or something that’s was that train baddies yeah the baddies yeah yeah so Bo when are we going to do that for H and decom I mean I don’t know man I don’t know that we’re going the sex cells route that bar chain did I mean I wrote I wrote him off for like a long long time until I met some of the developers and then talked to like some other friends in the space who were just like look man like their their Tech is
(45:35) actually pretty pretty legitimate and and then yeah I think it’s I think it’s a novel concept a novel L1 and and I think that they like are good at hype marketing um and so I think that that’s like sort of what you need in the space to to be really successful but I don’t know it’s tough It’s also tough when you’re talking about launching another L1 right like L1 competition is hard and you know it’s it begs this question of like you know I’ll be talking to someone tonight
(46:06) Who’s Who Mike said will try and convince me to to launch as a or like launch decom as a as a cosmos Sid or like whatever they’re called yeah it’s an L1 they say it’s you’re on L1 they call it L1 right right right right so I don’t know it’s like it’s it’s a tough it’s a tough game to break into but all right well well if unless anybody has anything else I mean please post any Alpha in the chat any any memes or degenerate gambling moves to make always welcome but yeah other than that I think we can
(46:40) we can call it a a town hall nice it’s exciting like I’m definitely happy we got these going again they were on a we had a good flow I know I know Jose really enjoyed them and I did and many others should we give an expectation for length meaning this is almost perfectly matched an hour should that be a time I mean should we or should we just let it go as long as it if some somewhere remember we’re at multip more than an hour I I don’t know I don’t know if we should fix a time or or not I don’t know
(47:12) if you have an opinion I I think that like it’s I think that they should be like sort of fluid I mean I think we should fix the time just because like scheduling especially across like multiple continents and time zones is just difficult right so so having fixed times and expectations for for how long people for for people and how how long they should be there and everything like that I think is a good thing but I think that yeah sometimes we’ll just have more to discuss and I think as long as we should maybe have some like caps right
(47:44) like it can only go maybe 2 or 3 hours long if if something is if people are really really engaged and we have a a a post or like a proposal that’s like particularly controversial um or if we need to really really need to figure some things out but but I think for now like we’re we’re easing into some more transparency easing into a little bit more Community engagement and and governance processes so I think an hour is feels pretty pretty cozy and yeah hopefully we’ll have more hopefully over
(48:17) time yeah these become uh something that we have to dedicate more time to because they’re either really interesting or just because there’s a lot that needs to be decided and discussed okay Fair Point yeah Jose is enjoy he likes he wants more of these I’m just reading some comments great all right well have a good rest of your day Bo and I’m probably going to get the kids to bed here and thanks everybody for your time it was fun fun one so next one would most so should we just say it now the 24th same time Monday yep yeah two
(48:51) weeks I think sounds sounds reasonable who ask yeah thanks for making it man thanks for everyone else showing up I will talk to you guys later all right ciao [Music]