23 July 2024 - Roundup of Active and Upcoming Votes

Governance Weekly Voting Reminders
1

UPDATED ON 25 JULY
New Temperature Check created :zap:
Change Arbitrum Expansion Program to allow deployments of new Orbit chains on any blockchain

  • The Arbitrum Expansion Program (AEP) allows projects to fork the Arbitrum codebase, modify it to their business needs, and deploy it on any chain that derives security from Ethereum. In return, the new Orbit chain is expected to share 10% of their chain’s profit back to the wider Arbitrum ecosystem.

  • One restriction of the AEP is that a new Orbit chain must be deployed on any chain that derives security from Ethereum. The Arbitrum Foundation has received inbound interest from projects that want to deploy their own Orbit chain on other networks including, but not limited to: Bitcoin, Binance Smart Chain, Cosmos, and others. We expect this type of interest to increase over time as the Arbitrum Tech Stack gains popularity on Ethereum.

  • Should the Arbitrum Expansion Program be changed to allow Orbit chains to be deployed on blockchain networks other than Ethereum?

Onchain Proposals :ballot_box:

1. Pilot Phase: Arbitrum Ventures Initiative (AVI)

  • The AVI working group is requesting $87k in ARB (191.7K ARB) with a 35% buffer to run a pilot.

  • This pilot aims to create a Funding Ecosystem Health Report, an Ecosystem Investment Thesis & Strategy, and provide Strategic Recommendations on areas for the DAO to start venture-related activities on.

  • This enables Arbitrum to make the next step towards developing a best-in-class approach to a DAO-led Ecosystem Investment Fund in Web3, and the AVI will likely be following up with a proposal for its further structure and deployment.

Snapshots⚡️

1. GCP Council Elections

  • 17 nominees across various archetypes running for 3 seats on the GCP Council. Vote runs for 2 weeks and ends on Aug 1st.

  • Role of the GCP Council

  • You can split your votes across candidates.

  • AMAs with nominees happening on 24th July, 29th July and 31st July at 4pm UTC.

2. Entropy Advisors: Exclusively Working With Arbitrum DAO

  • Entropy Advisors is requesting $2.47M to work exclusively with the ArbitrumDAO for one year.

  • Since inception 3 months ago, Entropy has led key discussions and proposals like GovHack Brussels, adjusting the minimum base fee, the multi-sig support service for the DAO, and improving predictability for DAO ops.

  • This will be paid in monthly instalments (stored with the Foundation for DAO-clawback capabilities), along with an optional up to 1.5M ARB for performance-based bonuses voted on by the DAO near the end of the term.

3. Furucombo’s misuse of funds

  • The Foundation has observed that Furucombo misused 59.5K $ARB of its Backfund STIP grant, and is seeking a decision from the ArbitrumDAO on whether to ban Furucombo from the ArbitrumDAO.

  • A public request for Furucombo to present its case to ArbitrumDAO and return the misused funds, by July 18 was made by the Foundation. This deadline has now passed and Furocombo has not responded on the forum.

  • Banning Furucombo would include (non-exhaustive) applying for future DAO-affiliated grant programs, qualifying for any retroactive programs from the DAO, and affiliated members applying for open roles in the DAO.

4. Change Arbitrum Expansion Program to allow deployments of new Orbit chains on any blockchain

  • The Arbitrum Expansion Program (AEP) allows projects to fork the Arbitrum codebase, modify it to their business needs, and deploy it on any chain that derives security from Ethereum. In return, the new Orbit chain is expected to share 10% of their chain’s profit back to the wider Arbitrum ecosystem.

  • One restriction of the AEP is that a new Orbit chain must be deployed on any chain that derives security from Ethereum. The Arbitrum Foundation has received inbound interest from projects that want to deploy their own Orbit chain on other networks including, but not limited to: Bitcoin, Binance Smart Chain, Cosmos, and others. We expect this type of interest to increase over time as the Arbitrum Tech Stack gains popularity on Ethereum.

  • Should the Arbitrum Expansion Program be changed to allow Orbit chains to be deployed on blockchain networks other than Ethereum?