Arana Digital Delegate Communication Thread
Delegate address: 0x0579A616689f7ed748dC07692A3F150D44b0CA09
Delegate ENS Address: aranadigital.eth
Forum Usernames: @AranaDigital, @Farfel.eth (primary contact)
Voting Activity: Tally & Boardroom
Email: arana.governance@gmail.com
We are a governance group composed of ex-Michigan Blockchain members. Our team is currently made up of five individuals, all of which are deeply steeped in the crypto space and have multiple years of participation in protocol governance. With delegation history for DEXs, money markets, L2s, liquid staking protocols, and stablecoins, we’re acclimated with a breadth of sectors. We bring a diversity of experience to DAOs–our members have consulted for companies like Immutable and dYdX, worked at crypto investment and trading firms, set up various validator nodes, and run educational events for university students. Our current team led the Michigan Blockchain ARB delegation from the launch of Arbitrum governance till December 2023 and maintained 100% voting participation. Our goal is to continue contributing to the Arb DAO going forward in a more professional capacity by actively imparting our perspective on proposals, helping formalize governance operations, and facilitating the growth/maturation of the Arbitrum ecosystem.
5 Likes
ARDC Elections
We want to start by thanking all applicants to the ARDC for their efforts and commitment to the Arbitrum DAO. The quality of applicants is a testament to the Arbitrum ecosystem and establishing this collective strongly positions the DAO and the community as a whole to grow and thrive over the coming months and beyond. We would also like to thank @immutablelawyer and the Axis Advisory team for their efforts in establishing this framework for the DAO to foster a more sustainable and effective governance.
Vote: Blockworks/Delphi Digital
Type: Snapshot
The combination of these two entities makes for the highest quality candidate to serve on the ARDC. @BlockworksResearch and @Delphi-Digital have been at the forefront of research in the space. They possess expertise in Ethereum scaling solutions and their mechanisms, will create insightful content to advance Arbitrum, and deliver refined research to offer unbiased, data-driven guidance for informed decision-making by the DAO.
Blockworks has been intimately involved with the Arbitrum DAO since its inception and we look forward to continuing to work with them and their partner in Delphi Digital to further strengthen the Arbitrum DAO.
Vote: L2Beat/Ant Federation
Type: Snapshot
L2Beat has been a steward for the Aritrum DAO thanks for the work of @krst and @Sinkas. They have been proactive in engaging the community through their governance calls and office hours. @dk3 and the L2Beat Governance team have continued to provide insights and serve as a proponent for what is best for the Arbitrum DAO. We believe the L2Beat/Ant Federation team will serve as a valuable member of the ARDC serving as the bridge and patron for the ArbitrumDAO.
Vote: 50% OpenZeppelin / 50% Trail of Bits
Type: Snapshot
The Arana Digital team has collaborated closely with Jun within the Compound DAO for several years, entrusting OpenZeppelin as our reliable security provider. With our deep understanding of their offerings and direct involvement with their projects, we allocate 50% of our votes to them. The remaining 50% is directed towards Trail of Bits, a group that has demonstrated its dedication to the Arbitrum Ecosystem through their extensive collaboration with Offchain Labs and ecosystem protocols. Trail of Bits has been actively engaged with various leading protocols in the industry since its establishment in 2012, and their development of tools like Echidna and Slither for identifying contract vulnerabilities underscores their expertise and commitment.
Vote: Chaos Labs
Type: Snapshot
Drawing on their extensive experience providing risk assessment services to the top DAOs in the Arbitrum Ecosystem and across Ethereum such as Aave and GMX, Chaos Labs is poised to bring valuable insights to the ARDC. Chaos Labs’ track record of publishing valuable data-driven analyses and modeling further displays their suitability for this role, and, the presence of their CEO within the Security Council reinforces their organization’s qualifications and fit for this role.
3 Likes
Week of March 16-23, 2024
Vote: For
Type: Snapshot
We are voting for this proposal due to the sustainable benefit this program has on the Arbitrum Ecosystem. Questbook and the Domain Allocators have done a great job ensuring the program remains transparent and the continuous reporting has enabled the DAO to ensure the funds are being put to good use. We look forward to continuing to work with Questbook, the Domain Allocators, and the protocols to support this program and the Abritrum ecosystem.
Vote: For
Type: Snapshot
We are in favor of this proposal and want to thank WakeUp Labs for their efforts in pushing this concept to the DAO. Having a clear interface for forcing transactions and assets out to the L1 is a crucial step for ensuring network resilience and hope the community finds comfort in this resource to help all users should the system go down at some time.
Vote: Set L1 Surplus Fee and L2 Min.
Type: Snapshot and Onchain
We supported the aforementioned decision because aligning Arbitrum’s fee structure with these improvements enables the network to accommodate higher transaction throughput while decreasing costs for users. This is crucial for sustaining Arbitrum’s attractiveness in a competitive Layer 2 environment. Although we anticipate a decrease in revenue, it’s a necessary step to ensure Arbitrum remains competitive in pricing. The expectation is that increased transaction volume will offset the reduction in marginal revenues, ultimately restoring total revenue to its previous level—and hopefully surpassing it.
1 Like
Vote: For
Type: Snapshot
We have decided to support this proposal. We want to thank @thedereksmart and @Djinn for their continuous communication and addressing of concerns from the community. We agree that the requested amount is aggressive, but the Arbitrum protocol is at a stage where large investments in the near term will be largely rewarded in the future. Arbitrum has established itself as a leading scaling solution for DeFi applications, and the growth of TreasureDAO, its upcoming Treasure Chain, and the expanding ecosystem along with the selection of the Arbitrum tech stack for Apechain has propelled Arbitrum to the forefront of gaming development. The Gaming Catalyst Program will further support Arbitrum as a leader in this growing vertical. The competition between scaling solutions is only increasing. Arbitrum has cemented its place as a part of the future of scaling Ethereum, but this proposal ensures its pace of growth remains competitive with the burgeoning list of prominent rollups and scaling solutions going forward.
2 Likes
Vote: For
Type: On Chain
We are in support of this program and are looking forward to setting the framework for better utilization of treasury funds going forward. Arbitrum DAO setting an example for the space for sustainable treasury management.
Vote: For
Type: Snapshot
Tally has been a valuable partner to the Arbitrum DAO and we look forward to expanding this beneficial partnership and working with @Frisson, @cbxm, and the rest of the Tally team.
1 Like
Vote: For
Type: Snapshot
Supporting the STIP Bridge proposal recognizes its strategic value in bolstering Arbitrum’s competitiveness and retaining key protocols through targeted incentives. It’s a proactive measure to sustain the ecosystem’s growth and user engagement amid intense competition from other Layer 2 solutions. However, as we voted in favor, we also recommend critical enhancements for the proposal’s refinement:
- Enhanced Eligibility Criteria and Evaluation Metrics: Clearer guidelines and measurable performance benchmarks will ensure transparency and fairness in selecting projects for bridge grants.
- Comprehensive Risk Assessment: Identifying and mitigating potential long-term risks will safeguard the ecosystem’s health and sustainability beyond this current Arbitrum DAO solution.
- Analysis of Past Incentives: A thorough review of the successes and failures of previous incentives will guide effective resource allocation, enhancing the future programs’ impact.
- Innovation and Ecosystem Diversity: Encouraging a broader spectrum of innovative and diverse projects can further enrich Arbitrum’s ecosystem, cementing its long-term leadership in the space and resilience.
- Transparency and Community Engagement: Revising and improving frameworks for regular updates and open communication about the proposal’s implementation and outcomes will build trust and foster a collaborative community. Clear and concisely articulated updates will enable the best community involvement and participation.
Working with the ARDC as well as @SavvyDAO, @coinflip, @Djinn, and the rest of the Arbitrum community, we aim to see a final implementation that not only strengthens Arbitrum’s position in the competitive landscape but also ensures its growth is sustainable, inclusive, and aligned with the community’s long-term vision.
1 Like
Vote: For
Type: On Chain
We continue to support this proposal under the ideas mentioned here. Tally’s increased support and updates will ensure the Arbitrum DAO continues to innovate and operate effectively.
Vote: For
Type: On Chain
We support compensating these early supporters of the Arbitrum Ecosystem. We appreciate the work of @Mysterymen and others in their communication with the community and the transparency they brought to the distribution process and contributors being rewarded.
LTIPP Proposals
Please see below for our LTIPP voting decisions.
Vote: For
Type: On Chain
This vote is in line with our previous support of this proposal on Snapshot. This program has done a great job of maintaining a transparent and effective process and we look forward to continue working with @Srijith-Questbook and the Domain Allocators.
Vote: Certora
Type: On Chain
We are supporting Certora due to their expertise across the board on their application as well as their thorough experiences in the ecosystem and the experiences of our team working with them. Certora has proven its value to the industry through its formal verification and credibility in the security space. We believe they will be a great fit for the council.
Vote: For
Type: Snapshot
We want to start by thanking @EventHorizonDAO for their efforts in producing this proposal and working with the community to address questions and concerns. This proposal aims to provide smaller, actively participating DAO delegates with greater influence in voting decisions. We are generally in favor of this pursuit and experimentation in governance modeling, but we recognize that the practical application has its shortcomings. Similar past models suggest that as individual influence in large groups diminishes, so does participation due to the perceived ineffectiveness of single votes, potentially leading to widespread apathy and reduced voter turnout. This model with the single-vote NFT might undermine the intended benefits of the system, as leveling the playing field may paradoxically lower the incentive for well-informed decision-making.
The proposed remedy in the proposal entails increasing the value of each vote when overall participation is low. This approach merits further exploration, particularly the critical point where the effort of voting is balanced by the influence exerted by each vote.
Overall, we look forward to supporting this proposal and appreciate its strategies to increase participation and find an equilibrium of voting impact and effort, utilization of Gitcoin passports to reduce sybil threats, and willingness of the @EventHorizonDAO team to work with the community to see this program through to success.
2 Likes
Vote: 50% for 1 cohort of 8 weeks, $2.5M fund; 50% for Do Not Fund
Type: Snapshot
While the establishment of a subsidy fund to support security audits aligns with our goals to support smaller projects and enhance security within the Arbitrum ecosystem, we decided to align with the 1 cohort, $2.5M fund as an initial trial for this program for the following reasons:
- Audit Cost and Scope: The projected average cost of $200K per audit lacks detailed scoping which may lead to inaccurate funding estimates.
- Operational Readiness: As a newly formed committee, the ADPC must demonstrate its capability to manage such a funding effectively.
- Impact Measurement: The proposal does not sufficiently detail the metrics for evaluating the long-term impact of these subsidies on the ecosystem.
- Governance and Oversight: More robust mechanisms are needed to ensure transparency and prevent potential conflicts of interest.
Considering these factors, we recommended a partial allocation of $2.5M for one 8-week cohort. This phased approach allows the ADPC to refine its management processes and demonstrate operational effectiveness before further funds are disbursed. This strategy balances support for the overall initiative with ensuring risk management and optimal use of DAO resources.
Vote: 100% for Fund with 1,000,000 ARB each
Type: Snapshot
The industry is just beginning to navigate the complex legal landscape as regulation becomes an evermore present force for consideration. Thus, funding organizations beneficially influencing digital asset regulation is crucial. Given the substantial costs of lobbying and litigation, we are supporting a 1M ARB allocation, enabling the parties to execute their strategies effectively.
We want to ensure these organizations instill a system of reporting that emphasizes transparency in delivering clear metrics of their successes and failures back to the DAO. Additionally, we are keen to understand the role of Immutablelawyer/Axis in bridging communications between these organizations and the DAO to ensure transparency and accountability.
Vote: For
Type: Onchain
This vote aligns with our previous support of this effort to bolster the Arbitrum Ecosystem and retain key protocols. The team has worked well to address concerns from the community and included the ability for the DAO to veto addendums.
Vote: For/Against
Type: Snapshot
We voted according to the strength of the proposal and project. We tend to align with the council due to their extensive work and expertise on the LTIPP application pool. Protocols that have proven their PMF and have a track record of growth and user retention were prioritized with our view being that younger protocols are more fit for short-term grants programs.
Vote: For
Type: Snapshot
The recent GovHack event has been positively received by those who attended and is widely considered a success. Organizing a similar hackathon in Brussels could be an excellent use of resources and time.
Vote: For
Type: Snapshot
Given the reasonable size of this grant and the matching contribution from Michael, the founder of Curve, we believe this initiative is worthwhile for the DAO. The planned distribution of the funds appears reasonable, and it sets a positive example for other protocols seeking grant support, though timing it with the LTIPP could be done better.
