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* Create meeting notes for sig-economics #21 Signed-off-by: George Appiah <[email protected]> * sig-economics Update 021-2024-11-06.md Added transcript Chore: add recording link Signed-off-by: Drinkwater <[email protected]> * sig-clients Update 021-2024-11-06.md added transcript and recording link Signed-off-by: Drinkwater <[email protected]> --------- Signed-off-by: George Appiah <[email protected]> Signed-off-by: Drinkwater <[email protected]> Co-authored-by: Drinkwater <[email protected]>
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| # Akash Network - Economics Special Interest Group (SIG) - Meeting #21 | ||
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| ## Agenda | ||
| - Updates on PIP 02 (Provider Incentives Program) | ||
| - Community provider participation and guidelines | ||
| - General updates and open floor discussion | ||
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| ## Meeting Details | ||
| - Date: Wednesday, November 06, 2024 | ||
| - Time: 10:00 AM PT (Pacific Time) | ||
| - [Recording](https://spb2lgjfo22rkltiontajya63on7vc5jg4i77hnsngjdj5xyfkra.arweave.net/k8OlmSV2tRUuaHNmBOAe25v6i6k3Ef-dsmmSNPb4KqI) | ||
| - [Transcript](#transcript) | ||
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| ## Participants | ||
| - Scott Hewitson | ||
| - Cheng Wang | ||
| - Rodri R | ||
| - James | ||
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| ## Meeting Notes | ||
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| ### Updates | ||
| - **PIP 02 Overview**: | ||
| - [Passed on-chain](https://www.mintscan.io/akash/proposals/273) and through the steering committee, with a significant allocation of AKT aimed at bringing more supply to the network. | ||
| - It is the largest community spend proposal to date. | ||
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| - **Community Provider Amendment**: | ||
| - Amendment added to PIP 02 based on community feedback. | ||
| - **Allocation**: $1 million (10% of total PIP 02 funds) reserved for community providers. | ||
| - **Eligibility Criteria**: | ||
| - Strict requirements for resource quality, reliability, and availability. | ||
| - Designed to maintain high standards and ensure a positive user experience. | ||
| - **Distribution Details**: | ||
| - Funds to be allocated on a first-come, first-served basis. | ||
| - Maximum cap of $250,000 per community provider to ensure equitable distribution. | ||
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| - **Provider Resources**: | ||
| - Target resources include H100s, A6000s, and 4090s GPUs. | ||
| - Details on resource requirements and application guidelines available in the GitHub discussion. | ||
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| ### General Discussion | ||
| - **PIP 01 Impact**: | ||
| - Observed positive impact on daily network spend, indicating successful implementation and demand growth. | ||
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| - **Community Feedback**: | ||
| - Encouragement for community members to engage with SIG Economics via Discord, Twitter, or GitHub. | ||
| - Emphasis on maintaining open communication and leveraging community ideas for network development. | ||
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| ### Closing Remarks | ||
| - Smaller group attendance for this meeting, with fewer updates to discuss. | ||
| - Acknowledgment of the community's ongoing contributions and engagement. | ||
| - Recording and notes to be uploaded to GitHub for wider access. | ||
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| ## Action Items | ||
| - **Scott Hewitson**: | ||
| - Continue monitoring and reporting on the implementation of PIP 02. | ||
| - **Cheng Wang**: | ||
| - Facilitate communication with interested community providers and guide them through the application process. | ||
| - Provide ongoing updates on PIP 02 progress and resource allocation. | ||
| - **Community Members**: | ||
| - Review [PIP 02 documentation](https://github.com/orgs/akash-network/discussions/696) and apply for community provider funding if eligible. | ||
| - Share feedback and ideas through SIG Economics channels. | ||
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| # **Transcript** | ||
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| Scott Hewitson: All right, everybody. It is November 6th. | ||
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| Scott Hewitson: we have it recorded for those that can't attend today and this along with notes will be up in GitHub. I just looked there's kind of a backlog from couple sig economics. So I'll make sure that those notes get updated as well as this one. last talk wasn't a whole lot going on. we talked a little bit about PIP 2, the provider incentives pilot, which has since gone on chain and it passed yesterday was also discussed at steering committee. so has a large chunk of AKT going to bringing on more supply. another prop that recently passed was the Q4 events which passed on Monday I believe. | ||
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| Scott Hewitson: | ||
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| Scott Hewitson: As always all the reporting on all that is in the GitHub repository for community pool spend requests. we tried to at least from overclock side anyone who anytime we put up proposals want to make sure that we're reporting on it staying in the good graces of the community. All this it's all community dollars. So we have a right to do that an obligation to do that as well. let's see. There was the metam or the final payment for Mystic Labs. if you recall, they had put up a vote for an AKT amount versus a dollar amount. They've since changed that and it passed as well. | ||
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| Cheng Wang: | ||
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| Scott Hewitson: Yeah, I think that's kind of the major points. Chang, do you want to talk anything about PIP02 at all? just because it is the biggest a community spend prop that's occurred to date. | ||
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| Cheng Wang: Yeah, for sure. | ||
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| Cheng Wang: For PIP02, one of the things to keep in mind later on addition was the community provider amendment, if you could call it that was edited in the original post where based on feedback from several community members about wanting to be eligible for PIP02 funds from PIP02. | ||
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| Cheng Wang: we amended a portion to say 5 to 10% of the total funds available would be allocated to community providers aka those who aren't running data centers as a service right of course there are very strict requirements for availability quality and things like that so I wouldn't want to rehash the language there but please go ahead and take a look at the links that you drop to see that updated language both on chain as well as on GitHub there and the short of it is 10% | ||
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| Cheng Wang: % which is a million dollars effectively of the total PIP02 funds will be allocated toward on a come first- serve basis to community providers who want to put their name in the ring and the points of assessment like how we will assess their eligibility will be based on quality, density, reliability all these kind of areas to where we can make sure that all the resources that are brought on my | ||
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| Cheng Wang: community providers are of the quality and robustness that potential partners would want to see right in the network because one of the things we have to really ensure is despite the really meteoric growth and a cautious demand at this point in time in fees is one of the things that is stability quality availability all those kind of things so if we have providers who are going to bring resources that u might go down unreliable aren't the quality | ||
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| Cheng Wang: not performant as the same GPUs elsewhere will be then that could impact brand quite negatively right and also decrease the user experience so that's something we definitely want to mitigate and we'll likely allocate the million dollars so it's a million dollars in total to community providers it's going to be on a come first-s serve basis point number two point number three is we'll likely limit it to $250,000 right, per community provider such that there's no overwhelm one person taking the entire slice and whatnot, and we'll see kind of how that goes. And anyone who's interested, please reach out to us on Discord, Twitter, email, whatever the case may be. GitHub and we can obviously have these conversations to bring those resources on. And as far as the type of resources, those are of course posted in the GitHub discussion as well. | ||
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| Cheng Wang: | ||
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| Cheng Wang: So namely H100s, I think some A6000s, 4090s, … | ||
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| Scott Hewitson: Thank you for that for the context and… | ||
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| ### 00:05:00 | ||
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| Cheng Wang: are in the loop as well. So definitely reach out to us and let us know if you are interested. | ||
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| Scott Hewitson: the additional color on PIP 02. I think we've had a good I'll say response with PIP01. I mean you just look at daily spend it's going crazy. So hopefully we can build on it and move things a little bit further further in this two-sided marketplace. okay so any going off of PIP don't need to talk about that unless anyone has any questions. I know it's just a small group with us today. | ||
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| Scott Hewitson: Does anyone in the group have any questions or any ideas or comments or concerns related to SIG economics? if so, feel free to raise your hand or drop it into chat. I'll just give a couple seconds in case anyone wants to say anything. All right. yeah, we got smaller group today. not a ton of huge major updates, so I think we can cut things a little early. as always, thank you for joining in on these calls. and those that are not here, thank you for listening in. if you have any questions or concerns or anything, please go to the Discord and drop into SIG Economics and, feel free to tag me at hey Huey. | ||
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| Scott Hewitson: if you had any ideas, we're always open to ideas and … | ||
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| Cheng Wang: | ||
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| Scott Hewitson: we get a ton of things from the community members. So, always have our ears to the ground for that. but with that, I hope everyone has a good rest of your day and I'm going to end the recording. Thanks y'all. | ||
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| Rodri R: You guys. Thanks | ||
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| Cheng Wang: So, it's Thank you everybody. | ||
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| Cheng Wang: All And there we go. Thanks guys. | ||
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| Scott Hewitson: All right. | ||
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| Cheng Wang: You in the metaverse. Hey. | ||
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| Scott Hewitson: Yep. Have a good one. Take care. | ||
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| ### Meeting ended after 00:07:14 👋 | ||
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