January 2024 Voting Updates
AIP: ArbOS Version 11
Vote: For
Confirming our prior reasoning and Snapshot vote onchain.
Proposal [Non-Constitutional]: Establish the ArbitrumDAO Procurement Committee
Vote: Establish Procurement Committee
We are voting in favor of this proposal but have our reservations with the continuity of this program.
The ARDP and ARDC are both examples of how a DAO can become more sophisticated in terms of professionalizing its operations. Creating subcommittees is a good practice for effective decision making and proposal creation. But the introduction of numerous subcommittees can also create unnecessary overlap in jobs. In our eyes, the functions of the ARDP and ARDC have enough overlap to justify combining them to an extent in the long run. Either way, they’ll need to be in close communication. A natural point for something like the ARDP would be to create frameworks based on the interactions they have during their tenure, this way the frameworks are empirically designed. But that’s likely too much to ask for. To establish strong frameworks there should be a dedicated task force like the ARDP, but the current six month timeline, along with the corresponding compensation package, should be limited to 6 months and not subject to an automatic reelection period. Unlike the ARDC, which is more-so a continual program, the ARDP can likely accomplish its tasks within the 6 month period. The hard part about creating these frameworks is the initial stage. Afterwards, it’s about monitoring and revamping current frameworks. Therefore, this committee should be ascribed a passive role long-term. In its passive state, the ARDP should also begin resorting to the ARDC and the DAO for continual feedback. We believe it’s fine for the working group to be limited to 3 competent people, but during the passive lifetime of the ARDP after the initial 6 months, it may be a good idea to add more members to the team. Again, this later stage ARDP is mostly a monitoring committee.
Long-Term Incentives Pilot Program
Vote: Fund Program with 25,815,000 (then increasing numbers and lastly don’t fund)
We are in support of the Long Term Incentives Pilot Program as its structured approach to enhancing the Arbitrum ecosystem takes into account much of the negative feedback from prior proposals and finds a nice common ground between many different opinions. The program addresses key issues from STIP Round 1, like delegate workload and feedback for protocols, and offers a more streamlined and equitable process. The introduction of a council for application evaluation and Application Advisors for feedback ensures a more fair and efficient selection of deserving protocols. This structure promises a more transparent and balanced allocation of resources.
Opting for the smaller 25 million ARB option is prudent for several reasons. It allows for a cautious approach to gauge the effectiveness of the new system without overcommitting resources. Starting smaller provides a controlled environment to test the new incentive structures and make adjustments based on real-world trial outcomes. This conservative start can lead to more informed decisions in scaling up the program in the future, ensuring the long-term sustainability and success of the initiative. Overall, we would like to see some more clarity and communication on some of the budgets, such as for example we think the milti-sig signers are compensated a bit too much.
Experimental Delegates Incentive System
Vote: For
Type: Onchain
As per our previous Snapshot vote, we still believe that this initiative should not incorporate Karma to start with. Once the program matures and it becomes clear what exactly needs to be optimized after manually operating this initiative, then Karma should ideally be incorporated. Regardless, we voted FOR the onchain proposal because, on the whole, we believe in the positive impact that this program can have on delegate participation. One aspect we’d like to flag one more time is the ability for the DAO to weed out pointless contributions–those done for the sake of contribution.
Proposal to Establish the Arbitrum Research & Development Collective
Vote: For
Type: Onchain
We voted FOR the initial coalition proposal but voted against this proposal during the Snapshot. However, our position has since changed, so we voted FOR this proposal onchain. Our general stance is that the DAO should have committees for facilitating various critical DAO functions. The initial release of this proposal was met with a lack of engagement, so we wanted more conversation to transpire before being in favor. Although the feedback for this initiative still hasn’t met the same level of engagement as the coalition proposal in the forums, when observing conversations in private channels, it became clear that there is appetite from most delegates to see this through.
We also suggested previously that this proposal can be divided up into multiple proposals to prevent bundling too many decisions into one vote. The broad nature of the proposal may still make this the better approach, however, we do realize that unbundling this proposal may be operationally difficult, requiring multiple snapshots /onchain votes.
Pilot Program Council Elections
Vote: 404DAO, GFX, Wintermute, Karpatkey, Bob Rossi
Type: Snapshot
Pilot Program Advisor Elections
Vote: Seed Latam, JoJo, Boardroom
Type: Snapshot
We’re excited to see the next step of the Pilot Program being voted on, and we’re happy the individual council elections are taking place democratically. We believe these 5 councilors and 3 program advisors are best suited for the first iteration of the role. When choosing our reviewers, we looked for people that have been long involved in the Arbitrum ecosystem and have also had a great track record in Arbitrum and other DAOs; bonus points for being on other grant councils and delegates. When choosing our advisors, we looked for teams or individuals that high a great holistic understanding of the DAO, were involved in various aspects, and also held and had experience with other web3 communities.
Constitutional AIP - Security Council Improvement Proposal
Vote: Increase the threshold to 9/12
Type: Snapshot
We respect the L2Beat team’s continual efforts to bring awareness towards the risks surrounding L2s as they continually mature. Our vote went towards increasing the threshold from 7/12 to 9/12 since this approach is the simplest way to null the second multisig. It also allows for more flexibility in the future than entirely removing the second multisig. Increasing the delay has its merits, but we feel that it’s a topic that the DAO should discuss in further detail before executing. To us, this proposal is meant to be a quick response to a potential security concern as opposed to implementing a more sticky alteration like the delay increase.
Election of Procurement Committee Members (ADPC)
Vote: Bernard & Joseph
Type: Snapshot
We have decided to split our vote evenly between Bernard and Joseph because we believe that their professional backgrounds outside of the crypto industry have enabled them to bring a degree of financial, strategic, and legal acumen to DAO space. Both have historical involvements in other protocols, collectively including Trader Joe, dydx, Olympus, Uniswap, and Safe. We have personally collaborated with Bernard in the past, so we can attest to his ability to manage and run programs/working groups. We also appreciate the efforts Joseph has recently made to make the Arbitrum DAO more structured and organized.