2nd November 2022 / 09:00-11:00AM (UTC-5)

ATTENDEES

Council: Elation Studios, PG Bao, Ryan, Rebecca Zhu, Song Sjun, Infi, Strawberry Council, Sash

Secretariat: Cassie, Greg

ABSENTEES

Jingyu, Phantz, DR, M&N

AGENDA

  1. Elabox update
  2. LLC Tax advisory/filings
  3. Minutes review

REPORTS

1) Elabox suggestion – John M

Comments

Ryan – What’s the benefit of running nodes on the Elabox?
Running your own nodes helps with dApp security. The ElaboxOS is to be available so that users aren’t limited by the current Elabox hardware. Node running provides an option for users of the ElaboxOS. Hardware for
Mainchain and Carrier nodes will be default to secure the Elastos networks. All the others are for choice.
And ElaboxOS will make it easy to set up nodes. Wizards, guides, easy-set-up for multiple blockchain nodes

Fakhul – why run nodes? How does it benefit most users?

Ryan – A way to access the chain and submit transactions directly to your own node. Greater accessibility for owners.

Fakhul – Does this mean you don’t need to use other’s RPCs, as you have your own route to the chain without relying on other endpoints. (Yes – Ryan)
Users can use dApps from the ElaboxOS dApp Store. By running an Elabox for your dApps you are protected from security risks arising from front-end exploits.
You can share ElaboxOS access with friends via DID.
ElaboxOSLite will be installable on personal computers. ElaboxOS is already available for third party SBCs: https://elabox.medium.com/elaboxos-diy-web3-elastos-free-f76da724ac6f

Fakhul – If it is possible for the details of ElaboxOS as an installable “Lite” application version on other hardware can be explicit in the suggestion that would be great. And also it is important to stress ElaboxOS is an entry point for users to Elastos.

Ryan – The strength is that Hive and Carrier is part of the ElaboxOS solution and that sovereignty of ownership is undisputed. More nodes for Hive and Carrier brings benefits to all Elastos users.

Fakhul – With Elavation we can talk about some future opportunities with a wider audience (universities, etc.)

Song – How many Elaboxes are sold? How many users can you expect to bring in when ElaboxOS is ready? Have you done any market research?
120 were sold on the first day. 100+ buyers have inquired about buying the original Elabox. Estimates suggest that 100-200 are sold/able to be sold very quickly if we had the hardware. This is just from the Elastos community so far.
The number of “true-DeFi” users on targeted EVM chains is, on average per chain, approximately 5000, just for the ElaboxOS on SBC (single board computer) hardware version. We expect to gain more than that with the software version as it is more accessible to install an application than build an Elabox themselves. This would be 3-5x more, at least.

Fakhul – The hardware option isn’t viable. The Lite version is the main interest here. What is the roadmap for Lite? Lite version really needs to be an early milestone.
dApp store built first and then the ElaboxOS Lite will be released afterwards. This will be after the UI is ready. Release date unknown at this point. But yes the Lite version is more important and we can change this to an early and critical milestone.

Sai? – How long until this can be ready?
Two months before a version of Lite can be released.
Running nodes on consumer devices (PC) is not a reasonable ask, hence the Lite version was concocted. The feedback received today about how to best move forwards to help Elastos through making ElaboxOS and Lite a gateway for users to Elastos’ Web3.
John finished by saying that he has already invested a lot of his time and money into Elabox, nd while it might not be as dominant or large as other (DeFi) projects, it is valuable and he is willing to commit more time and money if Elabox is supported by CR.

Cassie – A reminder that the CR Sec can get their technical advisor to look through proposals to check on how reasonable the milestones, hours and costs are.

2) LLC Tax advisory/filings

  • A Tax Advisory Engagement Letter was shared to the Council as promised by Fakhul last meeting.
  • See minutes from Meeting 9 for previous discussion on this topic.
  • Feedback would be appreciated. A proposal will be submitted for this forthwith. A business account will be part of this arrangement – it is a big prerequisite.

Advisors for this proposal have two main jobs:

  • Filing tax returns for CR this year.
  • Open a “crypto bank account” for CR

What is likely to happen is that a crypto-friendly bank account is needed. This would be the best solution.

3) Minutes Review from last meeting

  • Confirmed and ready for publishing

AOB

N/A

ACTION ITEMS

  1. Review minutes