Date: 2024-03-27

Time: 12:30 PM - 1:30 PM UTC

Location: Zoom Call

Attendees:

• Sid Shah (Areta)
• Bernard Schmid (Areta)
• Paul Imseih (Daimon Legal)
• Joseph Axisa (Axis Advisory)

1. TM RFP and Subsidy Fund Proposal Discussion

• Discussion: The ADPC discussed the TM RFP and the Subsidy Fund proposal, acknowledging that the intention behind the ADPC was to run this fund, even though it wasn't explicitly mentioned in the proposal. The delegates' perception is that the ADPC should be taking on this work since they are being compensated for their efforts.
• Resolved: The ADPC agreed to refine and proceed with the Subsidy Fund proposal, removing the setup of a separate committee and emphasizing the role of the ADPC in managing the process.

2. RFP Development and Timeline

• Discussion: The ADPC discussed the need to develop a comprehensive, multi-year contractual framework across verticals for the RFP, which was the original design concept. The ADPC estimated that it would take 3-4 weeks to gather requirements and reach out to subject matter experts (SMEs), with a first working document expected to be presented to the DAO by late April. Service providers would then have 2-3 weeks to onboard and respond to questions, pushing the timeline to the end of May at least. The ADPC acknowledged that they are starting with no documentation or infrastructure and that it is realistic to expect a 2-month timeframe to complete the framework.
• Resolved: The ADPC will continue to work on the RFP development, following the discussed timeline.

3. Workload and ADPC Extension

• Discussion: The ADPC discussed the expected workload, anticipating that a significant stream of applicants would not arrive until late June or early July, and that the current ADPC would likely only handle the first wave. The ADPC agreed that the next ADPC should have experience running the grants program and that the Subsidy Fund proposal should be tied to an extension of the ADPC in the future, with terms to be discussed.
• Resolved: The ADPC will include in the Subsidy Fund proposal that it is tied to an extension of the ADPC in the future, with terms to be discussed. The extension proposal will be submitted 1.5 months before the end of the current term.

4. Clarification of ADPC Responsibilities

• Discussion: The ADPC decided to urgently speak with Devansh to clarify the ADPC's responsibilities, particularly concerning the oversight of investments related to the STEP program and other programs being undertaken by the treasury management working group.
• Resolved: Sid and Joseph to reach out to Devansh to clarify the ADPC's position regarding the STEP ask.