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tags: meeting minutes
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# 2021-10-01 NH sync

> Recordings may be available for 2 weeks in [MEGA shared folder](https://mega.nz/fm/k14GBJSa).)

## Attendees

Sid, pospi, Emaline, Pablo, Jethro, Michael, Jean, Nicole

## Agenda

- Breathe for a minute: Drop in, centre, acknowledge the presence of people in the call :)
- We should have time for longer check-ins

### Current operational topics:

- Last Friday, update on Fundraise strategy. How are we feeling about it?
- Option 1 or Option 3?
- What are the implications for strategy, if any?
- Tweaks needed in comms
- Allows for more time and space in Product/dev

- Comms Update: (see update in channel)
- Minor tweaks in strategy
- Whitepaper ready, Feedback collection process?https://docs.google.com/forms/d/11jj2A3wZfClkqZFD2bsqMLrt5DT-9QEFeAwBb6Q721Y/edit
- Medium visuals/Social media visuals
- Pushes to website done
- Social media posting?
- Email rollout
- Video recording begun
- Sid to share a bit on what funders would need (100-10k)
- Anything else?

- Product update:
- Discussions between Michael, pospi, Sid
- 'We'
- Sid's chat with Nico

- ICO/Fundraise update:
- Post raise, next 12-18 months will need market-making skills to build liquidity
- Setting up entity
- Beginning porting of investors
- KYC/AML checks not needed
- Smart contract (simple skills) will be needed

- NH-Credits design can evolve post TGE too

- Budgeting for next year (spend more time on this topic)
- Sid to share spreadsheet link: https://docs.google.com/spreadsheets/d/1_VdIr8g1gkCJEnI00L0rQEHTt_VdevrQhOeaYCvP6qw/edit#gid=0

### Wrap-up (allow 7-10min)

- Insert Text
- Insert Text

## Minutes and Priorities for the coming week
- Update on Fundraise strategy:
- Feel free to share opinions on Option 3 versus Option 5
- Sid's personal opinion: Doing the TGE this year feels more wholesome, let's us focus on work

- Comms:
- Yayy @frugal! Website up and running. All sections done.
- Whitepaper with link to feedback form rolling out to people. While it's not ready for sharing on social media, definitely okay for team to share in their networks
- Medium article not pushed out yet because we're working on getting visuals right. These visuals would also be used on SM, so it's worth the wait. @bierlingm, this will give you a bunch of visuals to use.
- Video recording begun (see link to audio in discord). Also, big reveal, Emaline is a Portland Radio Celeb (whaaa)
- Email/SM rollout: We took this week to think about the new fundraise strategy a bit.
- Framing fundraise as 100 people @ 10k each: just a broad meme that get's us thinking more tangibly

- Product:
- Lots of conversations here, which have surfaced due to integration of Rep_lang + Interchange
- It's been nice to hold space for this, because it will define relationships over the next year.
- 'We' solving a lot of NH's gaps. pospi thinks we will have variants of 'We' too (which is great. Hopefully we would have basic coherence between them, which would make it easier for modules/widgets to be compatible)
- Subsequent conversations could be about crystallising product strategy: how do we want to roll out NH - 'big project drop all at one go, with complete membrane control etc developed?' or 'more organic: initial versions more playful/breakable?'
- Conversation with Ad4m: the hope was that Ad4m can allow for integration with NH marketplace modules, but it seems like that may not work out, since Ad4m requires more centralised 'buy-in'

- Fundraise/TGE:
- Post TGE and private raise, thinking about 'market-making' capacities to develop liquidity - this will ensure access to capital for the NH project in the years to come.
- Begining entity formation (not using holding co format)
- Contracts for team members
- Smart contract design to begin (should be pretty simple) - will use a basic contractor to build this

- NH-Credits design can evolve post TGE too
- NH-Credits design can breathe a bit, now that fundraising is cordoned off to $NHT. This will allow us to evolve a crypto accounting system that allows communities and devs to engage in value-flow better.
- Emaline: in any case, our conversations about project should focus on Rep_lang/Interchange + vision - not begin with low-code-marketplace stuff
- Website language around this to evolve gradually

- Budget doc: First two tabs in this sheet are of relevance only. https://docs.google.com/spreadsheets/d/1_VdIr8g1gkCJEnI00L0rQEHTt_VdevrQhOeaYCvP6qw/edit#gid=0
- Budgeting process will be helpful for us to think about how we want to shape next 12 months, and will help us in our private sale conversations.
- Edits and additions welcome, just go into the sheet and add.
- Token sale sheet allows us to play with allocations for long term: as of now we're thinking ~75% held in reserves post TGE and private sale. We're also thinking ~25mn$ total supply, but maybe it could be more?
- Emaline suggests comms could be collapsed down into 'Ecosystem Development' section? And can ecosystem dev focus on tangible engagement with HC dev community i.e. more presence in devcamps/hackalongs etc?

## Minutes and Priorities from the last week

- Rep_lang and Cultural Computer
- Michael getting into HC. Allowing rep_lang to seep into cultural computer more
- Pair programming sessions likely between Michael and pospi
- Chat with Eric HB about 'We' - this could serve as a central, Holochain native framework for NH. More discussion to follow.
- Ad4m to possibly play a role in integration with widgets

- Comms
- Whitepaper: Reads really well. Yay Emaline!
- Nicole to work on 10 diagrams, Sid to polish NHT and NHC text and we should be there.
- Next step, figuring out how to get feedback without it getting too chaotic.
- Sid building distributed conversations with Moritz. The goal: 'someone can grock NH through a Twitter thread'
- Conversation with RedGrid leading to an article about common use-cases
- Medium posts should be published in next couple days (series of 3)
- Emails to SC community and subsequently substack to start next week (hold Sid accountable to this if doesn't happen!)

- Currency design:
- NH Credits serve as 'value-stable crypto accounting system for NH'. Basically, a community should be able to stock up on NHC and feel safe in the fact that they are entitled to a specific amount of access to widgets.
- NH Tokens, serve as a the crypto gateway to this system. NHT's would be the only currency in the reserve. NHC can be redeemed by devs to get NHT, which they can then exchange in crypto markets.

- ICO and Fundraise:
- Licensing convo: First stating what we need, then going into shop for licenses. May open conversation with Noah Thorpe since he has explored so many options
- Contracts: working on this over next few weeks.
- Succession agreement
- Options for entities fully explored. Should register next week (yay Jethro!)

Sid on Fundraise: looking at fundraise as an opportunity to be 'in relationship' with people. Of course, it's not a perfect decision since there's so many moving parts to this. Going by where things are at (crypto markets, regulations, sentiment in Holo, status of our project) the most likely options for our fundraise look either like a small issuance of tokens (with a larger portion disseminated over the course of 2022 and beyond through exchanges) or a private raise (with a larger portion disseminated subsequently). Either way, Comms continues as is, but these options allow us to access people who are 'more aligned' first, rather than random people coming into the project.

## Next steps
See above

Time Zone images (note this is more than 24 hours covered):