Gauntlet views this proposal as a progressive step toward increasing future optionality in the development of ARB utility and the potential for revenue sharing within the Arbitrum ecosystem.
Alignment For Arbitrum Revenue
While network revenue has decreased significantly following EIP 4844, the potential alignment of ARB holders with network revenue would presumably create a greater focus on optimizing Arbitrum sequencer revenue and fee models. As the leading L2, Arbitrum is uniquely positioned to drive new frameworks for how networks align with token-holders and governance; the stARB experiment is likely worth exploring.
Alignment for Delegation
The potential for voting power distribution is an exciting addition to this proposal. We look forward to participating in future working groups that explore how to allocate the best redelegation for stARB. While we agree that delegate scoring should be closely considered, integration with Karma supports the evolution of Arbitrum’s ongoing experiments in delegate compensation.
Tally as a Governance Partner
Tally is a critical tool for the Arbitrum DAO, and the ability to host ARB governance staking on the same platform where token holders delegate and delegates vote is an added benefit to the scope of this proposal.
Technical Optionality
Gauntlet recognizes that this proposal funds technical research and development toward implementing these contracts. It does not approve the onchain implementation of the stARB contracts, the “turning on” of ARB fee distribution, or the delegation of unused voting power. It also must be subject to technical, code, and design audits prior to implementation, as mentioned by @openzeppelin above.
Cost of Implementation
Compared to recent proposals, $200,000 for a technical development scope that could advance the ARB and governance landscape is a relative deal. There are currently dashboard proposals asking for more than this and the DAO has spent many times this on incentives alone.