3 September 2024 - Roundup of Active and Upcoming Votes

Onchain Proposals :ballot_box:

1. Funds to bootstrap the first BoLD validator (voting ends on Sept 6)

  • The Arbitrum Foundation is requesting for 5,134 ETH from the L2 Treasury Timelock (ETH treasury) to run a BoLD validator and fulfill the role of being the first honest and active proposer. This proposal is contingent on the proposal <AIP to upgrade the DAO-governed chains to use BoLD> being approved by the ArbitrumDAO down the line, and all funds will be returned to the ArbitrumDAO within 30 days of the BOLD proposal being hypothetically rejected.
  • If this proposal passes, the ETH received will be split into 2 multi-sigs -
    • The first multi-sig (Multi-Sig A) will receive a total of 4,234 ETH. 3,600 ETH will be used to run the first BOLD-enabled proposer for Arbitrum One, and 634 ETH (555 + 79) budget to counter one BOLD challenge
    • The second multi-sig (Multi-Sig B) will receive 900 ETH, where 500 ETH as service fees for active BOLD proposers (excluding the Arbitrum Foundation), and 400 ETH to reimburse honest parties on their L1 gas costs for 3 years.
  • The ArbitrumDAO reserves the right to revoke the Arbitrum Foundation’s proposer at any time and return the all funds back to the treasury.
  • Forum post link here.

2. ARB Staking: Unlock ARB Utility and Align Governance (voting ends on Sept 6)

  • Tally is proposing to improve the governance and security of the Arbitrum protocol by implementing ARB staking, without yet turning on fee distribution to stakers. ARB staking allows for:
    • the voting power of staked ARB tokens to be delegated to active delegates (determined by Karma score, which is a combination of delegate’s Snapshot voting stats, onchain voting stats and their forum activity), and
    • the creation of a mechanism to stream future rewards from DAO-generated sources like sequencer fees, MEV fees, validator fees, token inflation, and treasury diversification.
  • This proposal includes $200k in ARB of funding to cover the costs of:
    • developing staking smart contracts,
    • integration of ARB into Tally and of Karma into ARB staking,
    • audit costs for staking smart contracts, and
    • funding of a working group to research on staking rewards and delegation designs.
  • Forum post link here.

3. Delegate to Voter Enfranchisement Pool — Event Horizon (voting ends on Sept 13)

  • The EventHorizon team is proposing that the DAO delegates (not grant) 7,000,000 ARB to a public access-voter block subject to a non-optimistic 1-year renewal.
  • Rather than the block voting based on the decision of one individual, the public access-voter block votes with the collective cognition of hundreds of individual voter pass holders. It provides a clear and designated voice for smaller, citizen voters, and drives participation through a game-theoretic process called Implicit Delegation.
  • In addition to the delegation, the EventHorizon team is requesting for 200k ARB to maintain this public good for 1 year in addition to retroactively awarding the team for the fully-functional product, and a separate 125K ARB grant for the 5 member Oversight Committee in monthly instalments.
  • NOTE - There is an active snapshot to replace the Oversight Committee with the MSS for all related capacities and responsibilities. If this temperature check passes, the Oversight Committee will return the 125K ARB initially allocated for OC member compensation back to the Arbitrum DAO Treasury.
  • Forum post link here.

Snapshots⚡️

1. Extend Delay on L2Time Lock (voting ends on Sept 6)

  • The Arbitrum Foundation is proposing to extend the L2 Core Time Lock contract that lives on Arbitrum One and proposes changing the delay from 3 days to 8 days which effectively increases the delay by an additional 5 days.
  • The benefits include:
    • Allowing the Security Council more time to act if a malicious proposal is passed by the ArbitrumDAO for whatever reason,
    • Providing users 5 more days to withdraw their assets from Arbitrum One or Arbitrum Nova if they are worried or not satisfied about how a proposal intends to change the smart contracts that govern Arbitrum One or Arbitrum Nova, and
    • Update the ‘Exit Window’ status of Arbitrum by L2Beat and replace a red slice with a yellow slice, moving one step closer towards a Stage-2 rollup.
  • Forum post link here.

2. [Replace Oversight Committee with MSS] Delegate to Voter Enfranchisement Pool — Event Horizon (voting ends on Sept 6)

  • The Event Horizon team is proposing to have the ArbitrumDAO Multi-Sig Support Service will replace the Oversight Committee entirely for all related capacities and responsibilities. The MSS will:
    • Custody the 7M ARB and delegate the voting power to the community voting pool,
    • Maintain the ability to push the community pool into an ‘abstain’ position, and
    • Maintain the ability to undelegate and return the 7M ARB to the treasury upon the request of the Arbitrum DAO which can be conducted via a Snapshot vote.

3. STIP-Bridge Operational Budget (voting ends on Sept 6)

  • This proposal aims to disburse the 100K ARB for the STIP Bridge Operations Budget was included in the Double-Down on STIP Successes (STIP-Bridge) proposal.
  • All necessary funds already approved and in multisig: These funds are already stored in the multisig, ready to be distributed once the below Snapshot passes. No additional funds beyond the already approved amount are needed to pay the entire operational budget.
3 Likes
Proposal Summary Funds Requested Voting Ends
STIP-Bridge Operational Budget 100K ARB to be disbursed for the STIP Bridge Operations Budget, already stored in a multisig, requiring no additional funds. 100,000 ARB Sept 6, 2024
Funds to bootstrap the first BoLD validator 5,134 ETH requested to run a BoLD validator for Arbitrum One. Funds will be returned if the BoLD proposal is rejected. 5,134 ETH Sept 6, 2024
Extend Delay on L2Time Lock Extends L2 Core Time Lock from 3 to 8 days, giving more time for action if needed and enhancing user withdrawal protection. N/A Sept 6, 2024
Delegate to Voter Enfranchisement Pool — Event Horizon Delegates 7M ARB to a public voter block for smaller voters. 200K ARB requested for maintenance and 125K ARB for Oversight Committee. 7,000,000 ARB + 200K ARB + 125K ARB Sept 13, 2024
ARB Staking: Unlock ARB Utility and Align Governance Proposes ARB staking for governance without fee distribution yet. $200K ARB requested for smart contract development and audits. $200,000 ARB Sept 6, 2024
[Replace Oversight Committee with MSS] Delegate to Voter Enfranchisement Pool — Event Horizon Replaces Oversight Committee with MSS to manage 7M ARB delegation and maintain control over delegation and voting. N/A Sept 6, 2024
1 Like