diff --git a/sig-economics/meetings/020-2024-10-09.md b/sig-economics/meetings/020-2024-10-09.md new file mode 100644 index 00000000..dc0c83a8 --- /dev/null +++ b/sig-economics/meetings/020-2024-10-09.md @@ -0,0 +1,317 @@ +# Akash Network - Economics Special Interest Group (SIG) - Meeting #20 + +## Agenda +- Recap of the previous meeting and recent developments +- Updates on various proposals and initiatives +- Discussion on community contributions and funding mechanisms +- Open floor for ideas, feedback, and questions + +## Meeting Details +- Date: Wednesday, October 09, 2024 +- Time: 10:00 AM PT (Pacific Time) +- [Recording](https://heto6ceypzwojxh56rfumjss6fsa3rhjrkrany22ap37qvorf6ba.arweave.net/OSbvCJh-bOTc_fRLRiZS8WQNxOmKogbjWgP3-FXRL4I) +- [Transcript](#transcript) + +## Participants +- Scott Hewitson +- Cheng Wang +- Robert Del Rey +- Joao Luna +- +1 502-***-**15 +- B S +- Dominikus Brian +- James Kano +- Kaylem +- Robert Koschig +- Rodri R + +## Meeting Notes + + +### Recap and Updates +- **August Meeting Recap**: + - Previous meeting had low turnout, no full recording. Scott provided a summary of key points discussed in the August meeting. + - Topics included the Provider Incentives program and updates on the Zealy campaign. + +- **Provider Incentives**: + - [Dashboard shared](https://lookerstudio.google.com/u/1/reporting/f2f8fe80-97cd-45cd-bbd0-17826eab5ae5/page/BIUND) to track community pool spending and provider incentives. + - Scott highlighted transparency in community pool spending, noting the creation of [reporting areas](https://github.com/akash-network/community/tree/main/community-pool-spend-reporting) for community pool-funded projects. + +- **Recent Proposals**: + - **Cosmos SDK 47**: A key proposal that passed, enabling funds and efforts to upgrade to Cosmos SDK 47. + - **Community Support Funding**: Approved, with community bounties to encourage contributions. Noted as a recurring proposal now in its seventh quarter. + - **Console 2.0 Proposal**: + - Cheng provided a detailed update on Console 2.0, focusing on cloud deployment and Akash payment integration, including trial wallets and credit card payment features. + - Currently in closed beta, the Console 2.0 platform aims to improve UX and streamline operations. + - Testing ongoing, with an expected release within a month or two. + +### Key Discussion Points +- **Provider Incentives Program (PIP)**: + - PIP Zero-One Summary: Initial PIP successfully allocated funds to bring providers on board, with all funds allocated as per the initial proposal. + - PIP Zero-Two: The new PIP will consolidate phases, focusing on expanding resources. Estimated budget: $10 million. + +- **Community Engagement**: + - Community proposals continue to be a priority, ensuring funds and bounties remain available for contributors. + - Encouragement to community members to bring forward ideas for leveraging the community pool for Akash Network growth. + +- **Console 2.0 Features**: + - Integration of credit card payments and free trials to remove barriers for Web2 developers unfamiliar with blockchain onboarding. + - Aim to reduce the learning curve by minimizing complexities related to crypto and wallet setup. + - Positive beta feedback, with initial partners engaging with Console 2.0’s trial features. + +### Community Contributions +- **Zealy Campaign**: + - Robert discussed the success of the Zealy campaign to incentivize participation in Akash Network activities. + - Secret words provided to attendees for extra points on Zealy. + - Plan to continue expanding the Zealy campaign, with community feedback being gathered for future improvements. + +- **Community Growth and Strategic Expansion**: + - Cheng mentioned the need for native Korean speakers to support Akash's expansion in the Asia-Pacific region. + - Community pool funding is structured to enable pilot projects with Overclock Labs’ support, which may migrate to community-funded initiatives after proven success. + +### Open Floor and Q&A +- **Community Pool Health**: + - Joao Luna raised questions on metrics for evaluating community pool health, suggesting a focus on effective fund allocation rather than simply growing the pool size. + - Cheng proposed using clear indicators like network utilization and specific project performance metrics to track ROI for funded initiatives. + - Scott highlighted community pool inflow mechanisms and current tax parameters for supporting community pool growth. + +- **Stable Payments and Token Pools**: + - Joao Luna and Cheng discussed stable payment integration challenges and the need for a unified approach to token pool security. + - Proposal to document a common methodology for handling token buffers and secure payment processing across platforms using Akash. + - Cheng suggested potential collaboration to co-author a specification document. + +### Closing Remarks +- Scott thanked the attendees and encouraged ongoing feedback and contributions. +- Call to action for anyone interested in contributing or bringing forth ideas to utilize the community pool for Akash Network’s development. + +## Action Items +- **Scott Hewitson**: + - Continue monitoring and reporting on community pool spending. + - Share updates on Console 2.0 progress, including trial feedback and UX improvements. +- **Cheng Wang**: + - Collaborate with Joao Luna on a joint document to standardize stable payment solutions and secure token buffer management. + - Prepare a draft for PIP Zero-Two to outline funding allocations and strategic priorities. +- **Robert Del Rey**: + - Gather feedback from the community on the Zealy campaign to iterate on future incentivization strategies. + +# **Transcript** + +Scott Hewitson: Alrighty, Welcome everybody. It's October 9th for this month's installment of Sick, Economics. I know last month we had A low turnout, a lot of things going on. And so we didn't end up doing a full meeting or recording. So I'll kind of give a recap of August call and anything that's transpired. Since I know, Cheng will be jumping on the call soon, if he's got any updates, and then we can open the floor up to ideas and concerns or anything that anyone wants to talk about. with that, Let's start with. So the August call talked a little bit about the Provider Incentives program. There was a zeely campaign update. I know Robert may speak on that a little bit. + +Scott Hewitson: One action item. I had was to share the pit dashboard which I've done and I'll drop it right here. This is for provider incentives. And this is also in the community's pool spending reporting that I'll drop the link to as well trying to have folk anytime folks are using community pool funds and want to show a dashboard or just how they're spending. There's an area to do it. Let's see, from the proposal side. Since August. So there was the inflation update which we had talked about the last recorded call. There's been A + +Scott Hewitson: There is a proposal that went up to reduce the take rate for Akt and Usdc and maybe can talk a little bit about that in a moment. Then we had the effort for Cosmos Sdk47 that hit on chain and passed. So funds received, it's a big effort from Overclock and some core members to upgrade the Cosmos Sdk47. And then finally one that passed last week is just a quarterly for community support and those proposals have been going on. for I think six quarter seven quarters now. So that's your vanguard's bounties. Just smaller dollars to unlock community for contributions. And let's see what else we got. + +Scott Hewitson: From the standpoint of new discussions. I know Cheng dropped in another funding proposal for Console 2.0 and that's kind of in the same format as the Cosmos Sdk47 funding request. So I'll let him Talk about that in a moment. And I think that's kind of all as far as a recap. Does anyone want to bring up anything? + +Scott Hewitson: As of right now otherwise I can turn it over to a chain to talk about Cosmos. Just give a high level on the Cosmos Sdk47 prop and then this console 2.0 prop Yeah. All right, doesn't look like there's any questions so Cheng if you don't mind, can you talk a little bit about Sdk47 cause her console 2.0 props that we put up? Or will. + +Cheng Wang: For sure, Scott, thank you always for running it and great introduction and coverage there for the Cosmos Sdk47 proposal, as well, as the console 2.0 for cost payment specifically. So, Console 2.0 is a massive endeavor. If you guys look on the Github board, as far as what it covers, The first component of console 2.0 was done a little while ago, in terms of integrating the cloud nose acquisition in their software and everything to create a cohesive singular deployment experience, right? And that's kind of the new console constant 2.0. The second component is the akash payments and embedded within cost payments are + +Cheng Wang: Trial wallets, right? The kind of account abstraction loosely, if you can call it that as well as credit card payment features. So those are already in kind of a closed beta scenario and it's accessible and stuff like that. You guys want to tink around and play with it. Let us know. We can drop a link right and we'll ultimately hopefully push that live within the next month or two. Is the idea here you want to, obviously there's some UX revamp that we need to do make things a little better cleaner and just look nicer and operation smoother obviously and a lot of internal testing is going into this as well. And yeah. So the sdk47 stuff is I believe + +Cheng Wang: Feature complete, if not extremely close, it's now getting ready. Toled up for testnet, which will be finding engage some of the more technical insiders to really give it a go. The core engineering team is getting ready for that state. So hopefully, that should come within a week or two and so please say Keep an eye out for that. So yeah, those are the two items thus far and looking down the + + +### 00:05:00 + +Cheng Wang: Looking down the road a little bit. We'll have pip zero two that will put out for discussion and github. Probably will definitely this week, so I'm excited to launch that. As you. Thank you, Scott again for putting together the dashboard on Pipzero one. As you guys can see, we've maxed out we've committed to a kind of all the budget that was originally allocated. And those providers have, this endeavor I think the original proposal, rather, we started in February, we committed to our first contract in March, I don't say end of March. So we're reconciling all the invoices and stuff like that and of course, we'll share that data publicly as soon as we kind of gather all that stuff together as promise in the reporting and transparency side of things and for zero two it's going to be a larger tranche. We're anticipating a 10 million dollar tranche the first one was five million and the first pit actually was ructured supposedly it was discuss into three phases phase. One was the committed pool phase two. + +Cheng Wang: another liquidity pool component and then phase three, I believe was R&D. So kind of the future Gen chips if you will. So we're going to essentially not do phases, two and three. And in the new PIP, Zero two rolled, the R&D portion just into the committed pool because we realized that's the best way to go forward to for a guarantee period of time. Have to be stable not have kind of supply coming in and out, And that's the reason why we're going to just do phase one again just bigger this time. In PIP, Zero two and for liquidity Pool, Comparch portion, we're not going to do that yet because again, the verify compute is important for + +Cheng Wang: Obviously reasons as you've seen another copycats in the space, Simple attacks and fraud is rampant. if you can improve what you own and what you have on the network. So that's really important to us. We've been here at a college doing things. the community has been doing things in a very measured and the methodical fashion. We don't want to straight away from that and kind of get the sugar high of bringing on resources if they're not real. Number one, and number two we don't want to bring on resources that are unreliable. What we mean is this, in the liquidity pool structure, if there are a bunch of people contributing resources, those resources are by nature. Extremely + +Cheng Wang: It's a mixed bag right, it's heterogeneous, So if I'm a AI company looking to come in and deploy on 180 age, 100 or whatever it is. And even if I can call it together, a big network of those things, there's no guarantee that each one is structured, it's gonna be structured a little differently. So it's gonna be very, very hard for large customers to come in and they have been knocking on our door too. + +Cheng Wang: To get started with akash rate. So that's one part of it. Two is because of the ephemeral nature of liquidity pools, people can jump in and out. And that's of course, if you're deploying production workloads, you don't want your machines to just jump in and out whenever, right? Because you depend on it for your livelihood. And so as a result, all those things which I'll clearly outline in the upcoming github discussion we'll be outlined there and then obviously feedback and engagement from the communities. always, welcome. So I'm looking forward to having those lively discussions once again. And this time there are a lot of learnings that we took from the first pit. We'll leverage into the second one and this is going to be, a bigger size reason that it's gonna be bigger is like I mentioned there are people who have come to the core team and ask for more resources than the network currently has specifically in H100 categories. Yeah. So that's what I got there. I mean, if + +Cheng Wang: Any questions? + +Scott Hewitson: That's great. Thank you Cheng, for all that color on it. One thing I do want to bring up on pit. one as well, so we requested funds, we're setting up contracts with folks, but I want to call out that all funds that these providers are making are being sent back to the community pool. So, as of right now, we've spent 2.1 million dollars, that's spent to date and we've returned a hundred and fourteen thousand Akt. So around 25,300 grand. So it is community pool funding and any money that those providers do make. We want to make sure it goes back to the community. we're not doing it to Overclock, it's not doing it to make money. We're doing it to ensure. There's resources on the network that people can deploy to and have good resources. + + +### 00:10:00 + +Scott Hewitson: yeah, that's it for from one other thing, I wanted to call out from the standpoint of the Cosmos SDK proposal that Overclock put up as well as the console 2.0. that will go up. Luna 10 million It's is the number as of right now. So, we've been putting in these on those props. We called out like a liquidity buffer, just because Akt is volatile asset. So, there was some excess funds requested because all we care about is a US dollar amount. + +Scott Hewitson: I will say from Cosmos Sdk47 so we use a couple market makers. Some folks to help liquidate things and in a way that's not going to affect markets. I think that the request for Sdk47 was around 377 Grand and we had a, liquidation strategy in place. It just so happened. That Akt pump like crazy. And so we were able to lick liquidate over 400,000 in Akt. I think the actual request, the funds that we wanted was around, 250 K. So we over liquidated some funds but it was all during a pump. So tvd what we want to do with those leftover funds, I think it's about 180,000 but Cheng and I spoke internally and I think an idea an option is to basically put return funds back to the + +Scott Hewitson: You pull a stables so there's a chunk of stables in the community pool that people can request. I know, For some of the smaller requests, people don't want the exposure, they just want to, get funding. So I think that might be a good avenue. I've thought about it before. And, I've thought about just putting up a proposal to get a couple hundred grand and then liquidate it and throw it right back in. the community pool is kind of the community's treasury. So we can diversify that you look at Adam and Osmosis they've got some stable coins in their community pool as So I think that would be, Not really a happy mistake but it's making lemonade out of lemons. + +Scott Hewitson: So I think that's a way forward. I'll probably drop a note on it somewhere, but if anyone has any concerns or questions on that, feel free to the hit me up or drop a note and see economics and discord. For Console 2.0. It does have the liquidity buffer as well, but we're gonna make sure that once we hit our fiat, number it stops, and then those funds will return as Akt. But I just wanted everyone to be kind of aware of that. I think it's net good for the community pool. let's see. What else do I wanted to talk about? Yeah, I think that's kind of all I have at the moment Cheng. Is there any other items you want to talk about? For now. Okay. + +Cheng Wang: yes, I do Actually some were related to Sega economics, but more of a slight tangent, but I would do want to say in terms of more + +Cheng Wang: People within the community have been working more closely with the project and with the core team over time, So obviously we have some community stalls here. Ryan Robert who's been with us forever and others I see and Don't me For example, I see him on the call, he's a new joiner as far as within the greater apparatus of the Akash ecosystem and working more closely with the core team and using more so of the community pool to fun, some of these operations and, of course, Overclock labs has, been very, I think, open with, bringing people in and testing them and then if it works we'll go to the community pool. So the structure is largely been if there's a pilot program or something we want to start, we'll often test it with overclock treasury and if there's very tangible at us value, add to the community will migrate that to the community pool and make it completely public and open, obviously taking the risk initially of running the pilot. + +Cheng Wang: Internally first, but a lot of people have been joining and I'm super bullish on that. And so if there are folks, whatever your level of expertise, and if you're engaged in a caution want to help out in any way shape or form from the, marketing side to, talking about a college representing, a caution in any way shape or form online or otherwise, please let us know. We definitely are expanding our footprint more so because, a couple of months ago, we were listed on up and hit them in Korea. And that's a very important market for us as well, So, if there are folks out there who are native, Korean speakers or Korean natives, whatever it is. If anyone wants to make a connection or encourage those folks, to help join the accost Community, 100% welcoming with open arms as we build out, kind of an apac Asia-Pacific right strategy there. So + + +### 00:15:00 + +Cheng Wang: that's what I'd say in regards that please keep the community contributions coming and thank you all for being a part of this. + +Scott Hewitson: Thank you Cheng for that update. Yeah. I think just to kind of quickly add on that. I think something that Akash does well that, contributes to our success is. There's so many different avenues for funding. There's different ways for people to contribute and get funds. nties, we've got a delegations, there's community pool stuff. there's always ways to get money at, and I think our community is a good job of weeding out those that are not versus providing value, so please continue to do so and really appreciate everyone's efforts. It's, Overclock is a small team, the community just, we wouldn't be able to do anything without the community. So I really really appreciate everyone and the efforts they're doing there. + +Scott Hewitson: that's all I really had. Does anyone want to bring anything forward or talk about any programs or any ideas? Yeah, Robert go ahead. + +Robert Del Rey: Also, thank you for those words guys before talking about silly, I quickly want to say that. I feel very happy thankful and proud for being part of this community. Luna early b s is here China. geez already but also it's good seeing new people coming in and saying Hey I want to be here and be part of this, in the case of Tommy, for example, a cash alpha, it's another one he's in his call as well. And yeah, yeah, so big props to everybody, I guess. Let's keep up that heat, right? So, yeah, I wanted to quickly. Talk you tell you about the Seek, Economics, working group called Mission on Silly. This is one of the missions that we have in this campaign, hopefully to + +Robert Del Rey: A motivated people to get involved in the different initiatives in their cash, ecosystem. We have, Sega economics. We have yesterday the community monthly call tomorrow. We have their cash website. Those are calls that we are incentiviring people for joining if they join. I will say They can take that secret word, go to Sealy, and get some extra points, which is good, But the main goal of that is hopefully we can make people get more involved in the different campaigns or initiative that we have. so the secret word for six economics, if you're listening guys, it's gonna be talking Like a cash, token token, T, o, k E N. And as in November, I will leave it in the shot, you can + +Robert Del Rey: or listen in the recording. Go to silly and be able to earn some extra XP points. Yeah, thank you. + +Scott Hewitson: Thank you Robert and really great effort on the zeely thing. that just for everyone's aware I said it started out as a little pilot program we used bounty dollars for they had some success and went to the community pool requested some more funds and then did it again. So it's kind of proof that no matter where you start there's funding avenues to get you going. And yeah I mean I know there's been some good folks that are coming out of that program so really appreciate that. Robert + +Scott Hewitson: All right. Let's see, does anyone else have anything that else they'd like to bring up or any ideas or concerns or just that kind of anything at all? It's a open floor. we love here and ideas, we love Getting feedback and I'm trying to make things go a little bit better. + +Scott Hewitson: nothing today, okay. + +Joao Luna: I do have some really fun tomorrow like curiosity so How are we measuring or… + +Scott Hewitson: Yeah, yeah. Go ahead. + +Joao Luna: Would you measure the health of a community pool? So Hey I can see the base image swear. Let's like this hobby is how much you spend versus how mature? Getting it in the community pool but I will tracking this are we measuring the healthiness or just looking at the fun. So many are there and not really looking. It's spelled sure over time. And I mean this a forecast of what we can expect to have on the community pool. Do you have any insights on that? + + +### 00:20:00 + +Scott Hewitson: Yeah, I mean I'll say go ahead Cheng. + +Cheng Wang: yeah, over you can go for indoors to go after you. + +Scott Hewitson: Yeah, I was just gonna say, I mean, the community pool is filling at a rate, I think it's 40% tax right now, from inflation inflations currently at 13% so 40%, that's going to the community pool. It's continuously getting larger. for me, just kind of anecdotally. I look and see some of the other cosmos chains. I think caught or Adam has. Let's see what they have. They've got 43 million in that, we were sitting at 27 million osmosis that 38 million, because in theory, Overclock should just be one entity that is drawing from the community pool. We would love for many entities to be drawing from the community pool. And so it kind of hard from the standpoint of requesting or projecting. + +Scott Hewitson: I mean, we overclocked, we can kind of project what we're planning on asking, but as far as what anyone from the community comes up with, it'd be harder to get an idea on that I think, because we have parameter change proposals to, we can kind of turn the knobs. I mean, the community pool was not healthy at all, a year year and a half ago. we bumped up the tax and so now I'd say it's healthy right now. obviously there's a + +Joao Luna: I mean, when I say healthy, I don't mean it's getting bigger. And for me, Something that self is something that's being spent. Unlike useful stuff. As we are,… + +Cheng Wang: Yeah. + +Joao Luna: the communities funds are being used in a smart way. + +Scott Hewitson: Like an ROI. + +Scott Hewitson: In Roi versus yeah. + +Joao Luna: Yeah, yeah,… + +Joao Luna: So that would be fun or… + +Cheng Wang: Yeah. I, + +Joao Luna: interesting at least to have Some kind of metrics on these, we are spending at a rate where we can afford, through three years of continuous advanced in these specific areas. That's interesting to me. + +Cheng Wang: Yeah, I think if I can jump in quickly here, I see where you're going. And I think in order to do that, we're kind of doing this already and Scott's been doing all the heavy lifting behind this in terms of reporting where we're spending the money, So if you break it down into the different proposals the community and those OCL has been requesting for one part is. Let's just say + +Cheng Wang: Cosmos SDK a cost payments. Those are features, right? That are going to be released like Sdk47, maybe a little bit harder to judge, but let's just say, as far as, direct measurable impact. But, let's just say with s, the free trial, as well as the credit card payments, if it's successful over the next couple of quarters. Once it's launched, we should see utilization increased dramatically And so currently one of our hypotheses is that a lot of people who come into the network looking for compute, run into this big wall. I mean, I'm sure you guys all recall, Fondly or not. When we all got started in crypto, It was a little bit of a trial, He had to figure a lot of stuff out. I know. I have sent a random transaction or into the ether and just disappeared, I mean and made some mistakes. So, with a Web 2 developer, you can imagine, they don't want anything to do with crypto or they just don't want to engage in this mental. + +Cheng Wang: Exercise. You have to start a wall-e. Have to write down a seed phrase. What the hell is a seed phrase? Don't have to store this somewhere. what, all the stuff is super taxing for the person individual, right? Or people? And so if our hypothesis is correct, and this is a feature that works. then we should see utilization leases, as well as spend go up consistently over time. Once this feature is released, That's one part. I can say anecdotally since this is in beta and we've been testing it, the feedback has been quite good What it has enabled us to do is share the free trial link to partners who potentially want to use the caution they can literally get started. There's one person who am I met in New York and I'm sorry. May not want to get Dropping this thing and immediately was able to get the trial and get started and just start to play around with things without us coming to us. Hey set up a wallet. We'll send you some Akt but blah so it's already. I think paying some dividends but I think + + +### 00:25:00 + +Cheng Wang: R's, direct output. That's what we can expect to see from Another one out, and I'll just put a pin in from as an example. Is provider incentives, one, right? That was a big one. Five million bucks. Probably is one of the biggest things we ever done is Have we been able to successfully bring on a good bunch of GPUs onto network? I think we have Number two. How were they lize? So I think the a6000s are over 50% utilized. If not more on average, Quite consistently by one of a big partner, in neural that we were able to partner up with and deploy their workloads on the H100s via Venice, And others, I think those h100 are 75 if not 80 plus percent utilize there. So that's been really powerful and the 490s I think have been fluctuating a little bit, and the most expensive resource tier that we were able to get through this particular program on the network has been able to one baseline, get our GP. + +Cheng Wang: Count up, right? And those GPU accounts are unlike some other places anyway, I digress. and then the second of all the utilization has been quite good. Enabling us right to work with some partners that we wouldn't have been able to otherwise. And they've been able to, obviously drive network, spend up, obviously, fluctuates between three and five K, but it's been able to steadily ratchet up over time, if you look at the stats out of Koschigo proof point as far as the success there. It's not all woven together, but I think those are some examples and I can give and last one I know I said before but the two other ones would be cloud, most and prayer. So obviously the cloud most acquisition, we're able to integrate. The cloud, most experience with the cost experience to create one native console and I think that has paid dividends the console looks way better and way more functional than previously, we don't have two different places that people have to go to, which is a good thing that unlocks the ability to develop + +Cheng Wang: Payment solution, right? for constitute auto and I think that's great and preter as far as working on more features that will allow for better and more seamless. Provider management. lots of some stuff has come through that already I don't know who among you here are aware of it, but essentially enabling providers to set up a Kubernetes cluster much faster than they historically, or instead of taking hours, It takes minutes, right? So that's another thing. And hopefully, I mean, you guys, if you follow Github, There are As I think already out there. Hopefully they'll be merged into course soon and we'll have a truly. I think payments, it takes precedent, but once that's done, we'll be able to actually deliver. Hopefully, by before the end of the year, a truly cohesive console that has a tenant portal and a provider portal all in one place. So you can kind of move between the two and + +Cheng Wang: I think those are some good things, And that'll hopefully Let providers manage their stuff on a console versus right now. You have to do everything quite manually. So that'll be exciting. So those are my long-winded examples of I think What we've requested versus what the impact and the positive impacts are And obviously community events as well, but that's a little bit different. Hope that helps. + +Joao Luna: That made total sense. And that leaves was second question. Your example, at least after the first one you gave and let me know if it's out of scope for this special interest group perhaps can get a little bit technical. + +Joao Luna: the fiat payments that you have moment. must somehow used a pool of tokens to operate on powerful user. I have this idea we have implemented stable payments for the Akash network on our classroom as well. So we've been running through it and our implementation uses the pool of tokens that used Whenever user doesn't operation and there's this pullbacks the whole platform and abstract and it's abstracted by the stable payments. Is this pool on your side? Being funded? By the community pool. Somehow is Overclock Labs. Hosting these tokens and feeding the platform. How are you handling it? + +Cheng Wang: Yeah, great question. and the current way we're doing it is + +Cheng Wang: At least initially, while this is getting kicked off the ground. The fastest way is exactly how you illustrate. It is Overclock labs. We'll put a portion of his treasury towards enabling this to function. So that's going to mean number one like Akt tokens, right? and the Overclock Labs Organization will absorb any potential exchange differences, Because, when someone comes in and they buy a thousand dollars worth of credits that $1,000 can go up or down, in Akt terms, right? And so, if it moves against us, we'll eat that difference. If it goes the other way, great less Akt out the door. so that's going to be the bridge temporarily. So as far as how will migrate later on to, I would love to potentially migrate to, stable payments, right? Because still it creates back to Akt… + + +### 00:30:00 + +Joao Luna: Okay. Yeah. + +Cheng Wang: because of the take great. It'll just be a lot less volatility, Because a dollar is a dollar as a dollar unless there's + +Cheng Wang: Tag. And… + +Joao Luna: But then all the providers must support that, right? + +Cheng Wang: then we + +Cheng Wang: Yeah, I think we'll have to migrate towards a standard Maybe but I think the options are open there and of course, another thing that's like, down the pike potentially, I don't want to overstate for the core team. Don't let Archer hear this is pack your forwarding right? That wouldn't enable. Hopefully a more streamlined or seamless use of stable payments on Akash, Because certainly the usdc is kind of wonky, right? The to get it in the way to unwind it. It's kind of painful. but beyond that, I'd say, in the interim Overclock Labs Treasury is creating that exchange pool to enable credit card payments. And then, in the future, we'll have to think about different Mitigants potentially creating separate pools, using community funds to help create that, buffer, whatever the case of me, right? I think those are our future problems that future. + +Cheng Wang: Akash will solve, but right now is going to be this + +Joao Luna: I mean, I have a lot of interest on this topic, I'm not sure it's just fall around Have some kind of Blog posts are detailed specification of how this could be implemented. Because it was so yeti. Is that you've sold the problem? I've solved the problem. + +Cheng Wang: Good idea. + +Joao Luna: I'm pretty sure other platforms that use the Akash network and had stable payments solve this problem. Perhaps you can achieve a common specification on how this must be done. And for instance, if we are so to support usdc pools and application saying, providers must Have usdc support if they want to benefit from the staple payments and be more adopted on these third-party platforms. The idea is just to not lose efforts solving the same problems on different teams because these takes time,… + +Cheng Wang: That's fair. + +Joao Luna: it's not a difficult problem, but It takes expertise, and perhaps could be useful, just a proposal. To Do This document, + +Cheng Wang: Yeah, absolutely. I mean, if You down for a co-authoring, a piece Luna, let's do it. + +Joao Luna: I mean, sure that's let's talk and see. + +Cheng Wang: Let's do it. Yeah, yeah. Great idea. I love it. I think we should do it. + +Scott Hewitson: And just to add on that. I mean, Once those that comes all that code will be open source. Correct Cheng or I mean, aside from the actual payment side because I know there's integration with stripe but everything leading up to a person's ID and… + +Cheng Wang: Yeah. Yeah. + +Scott Hewitson: credit cards should be open, source and theory. + +Cheng Wang: That's Yeah, obviously the payment processing and stuff. That has to be private. Someone has to hold the final person to hold the hot potato. if someone does anything bad and we need to go pursue somebody, right Overclock Labs, holds the final potato. + +Joao Luna: Yeah, but I mean even the security of the keys to these pools and… + +Scott Hewitson: Right out. + +Joao Luna: buffers of tokens, perhaps that could be a specification on how you should secure, how I should handle this and be like a common on this broad platforms. + +Cheng Wang: Very point. Yeah, for Yeah. Because it's not trivial. Yeah. + +Scott Hewitson: Yeah, no. Thank you for that Luna and looking forward to seeing what you and Cheng come up with should be good. Does anyone else have anything or Luna? Do you want to talk anymore about that or anything else before we move… + +Joao Luna: So I'm good. + +Scott Hewitson: Okay, awesome. + +Joao Luna: Thank you. + +Scott Hewitson: Thank you. As always, I mean, you're, an OG contributor and really appreciate everything you're doing, you're helping progress the space forward. So Much kudos to you. Alrighty. Is there anyone else that wants to up Call anything out. Tell me where I'm being done. Anything like that. The floor is open. + + +### 00:35:00 + +Scott Hewitson: I changed you have anything else you want to add? If not, we can cut, the call short, 20 minutes. + +Cheng Wang: I'm good. + +Scott Hewitson: Give everybody 20 minutes back. + +Cheng Wang: Thank you all. Thank you Scott. + +Scott Hewitson: Alrighty, appreciate everybody and yeah, let me know if you need anything, if you ever have any ideas or anything at all, please drop into SIG economics. I think I said it before, I'll say it again. we love good ideas. We love unblocking folks so they can build out their good ideas. So Yeah. With that. I hope everyone has a good day and we'll talk soon. + +Joao Luna: Thank… + +Cheng Wang: Take care, everyone. See you next time. + +Joao Luna: Have a good day and stay safe from the Hurricanes and… + +Robert Del Rey: Thanks. + +Cheng Wang: See everyone. Thank you. + +Joao Luna: all that. + +Scott Hewitson: Thank you. + + +### Meeting ended after 00:36:06 👋