14 Jan 2024 - Roundup of Active/Upcoming Votes

Onchain Proposals :ballot_box:

1. [Constitutional AIP] Activate Arbitrum BoLD + Infura Nova Validator Whitelist (voting ends on 23rd Jan, Thursday)

BoLD is a new dispute resolution protocol enabling permissionless validation. If approved, anyone can participate in validation and defend against malicious claims to an Arbitrum chain’s state. This upgrade will be a major step towards recognizing the Arbitrum tech stack as a Stage 2 Ethereum rollup.

:arrow_right: Currently, Arbitrum chains rely on a permissioned set of validators to prevent delay attacks. With BoLD enforcing a fixed time limit on dispute resolution, delay risks are mitigated, making permissionless validation possible.

:arrow_right: The DAO also previously voted to fund the Arbitrum Foundation as the first active proposer for Arbitrum One if the BoLD upgrade is approved. If the DAO rejects BoLD, the Foundation will return the full funds to the DAO within 30 days.

:arrow_right: This onchain AIP also includes a change to whitelist Infura as an Arbitrum Nova validator. Infura, with its proven track record in blockchain infra, already serves on Nova’s DAC. The DAO had previously approved this whitelist on Snapshot.

:arrow_right: Dive into the details of the BoLD proposal in the forum post:

  • The mechanics of BoLD
  • Implementation, formal specifications, and safety proofs
  • Rewards, Reimbursements, and penalties in BoLD
  • Technical Risks

Snapshots⚡️

1. STEP 2.0 (Voting ends on 17th Jan, Thursday)

The proposal seeks to allocate 35 million ARB to the second iteration of the Stable Treasury Endowment Program (STEP), focusing on diversifying the Arbitrum DAO treasury into RWAs that are stable, liquid, and yield-generating, while promoting ecosystem growth for RWA protocols.

:arrow_right: Strategic Objectives and RWA Focus: Building on the success of STEP 1, the initiative targets low-risk instruments such as U.S. Treasury-backed assets, emphasizing consistent support for the RWA sector and a competitive provider selection process to enhance Arbitrum’s position in this growing market.

:arrow_right: Governance and Implementation Framework: A structured roadmap is outlined, including community discussions, approval votes, application reviews, and ratification of providers, with a committee overseeing the process to ensure transparency, efficiency, and rigorous due diligence.

:arrow_right: Budget and Resource Allocation: The program allocates 35 million ARB for diversification, supplemented by 125k ARB for implementation costs, including committee compensation, emphasizing cost efficiency and accountability in resource deployment.

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