Hey folks, I’m kicking off the Staking Rewards and Delegation Working Groups. Feel free to watch the thread posted below for updates.
I voted in favour of the on-chain proposal for the reasons specified above.
Interesting to see how this impacts the DAO. Keeping tabs on the implementation.
Voted FOR the Tally ARB Staking Proposal: Alex Lumley (Savvy DAO) Delegate Communication Thread - #11 by AlexLumley
I look forward to my feedback getting considered as the working group develops. I’m specifically interested in how ARB staking will bring in more of the VC tokens in to the ecosystem as this is the highest leverage point for governance participation.
Hi there, I have an update on the timeline for ARB Staking.
We’ve made solid progress on the smart contract implementation of ARB Staking outlined in the proposal. The proposal timeline calls for us to submit an onchain proposal on Tally including the full ARB Staking implementation in October. We are intentionally moving a bit more slowly than the original proposal timeline. The proposal includes working groups to recommend staking reward sources and the definition of an active delegate. These working groups are producing important insights that we want to take the time to make sure are fully accounted for in the smart contract implementation before we bring it to audit. We also want to take extra time to make sure our technical implementation is fully understood by stakeholders at the Arbitrum Foundation and Offchain Labs.
The working groups will begin to circulate draft deliverables for feedback in the next 1-2 weeks.
We have begun the process of sharing our planned smart contract implementation with Offchain Labs and the Arbitrum Foundation.
A large number of rewards should be applied for distribution when the arbtrum chain is profitable. A large number of token distribution applications will be a huge disaster for investors.
For example: how much did the arbitrum dao gain this year, then all rewards will be applied for based on this profit.
Just some of my thoughts.
The ARB Staking working groups published their analysis and recommendation here: ARB Staking Working Groups - Final Recommendation
As per the working group recommendation, Tally has committed to revisiting our implementation of the LST (stARB) to enable its functionality without requiring the redelegation of Voting Power. We are working on a proposed implementation that meets this requirement and will update the DAO as we make progress.
Will it be possible to use LST as planned before?
Everything except redelegation remains the same?
Hey cp0x. Yes, we are working on a proposed implementation that meets this requirement and will update the DAO as we make progress.
then… what will happen to the voting power that will be delegated to delegates that become inactive? those tokenholders just stop getting rewards? and if they don’t redelegate, their voting power is counting for quorum, but not being used?
I think nothing will happen with these votes at all.
Just like now: if you delegate to someone who doesn’t vote, your vote is simply not counted.
We’re excited to share the results of our recent Sherlock security audit for Arb Staking conducted from December 2nd to December 6th (2024), which focused on evaluating our governance staking system. The audit was carried out by a skilled team of security experts, including cergyk, Spearmint, and Jokr, and represents another step in our ongoing commitment to security and reliability.
The process was collaborative and productive, allowing us to engage deeply with the auditors to evaluate findings, address potential improvements, and ensure our platform remains robust and secure. Many of the findings were centered on opportunities for optimization and documentation improvements, validating the soundness of our codebase while offering insights for refinement.
Our engineering team took decisive action where necessary, addressing key issues promptly and transparently. For findings where fixes weren’t needed, we carefully documented our reasoning, maintaining transparency with the community.
As an industry standard for driving long-term protocol success, we take our responsibility seriously in helping teams manage and protect over $70 billion in value for on-chain protocols. This audit represents another step in our ongoing commitment to security and reliability.
We’re grateful for the collaborative audit process with the Sherlock team, which has helped us strengthen our protocol while preserving its core functionality. We believe these improvements will serve our users well and continue to uphold the trust they place in our platform.
We encourage community members interested in the technical details to review the complete audit report, and we remain committed to maintaining the highest security standards as we continue to develop and improve our protocol.
Please check out the complete audit report:
Next up we will be sharing the results of the Audit Contest!
Hello Folks, wanted to share more content around our progress in staking:
My cofounder @rafso talks about how Staking aligns your community:
The Staker Audit Report on Twitter:
Will try to cross post more often with different channels because some feedback we’ve gotten is that not everyone is reading this thread.
Just wanted to say thanks @dennison for the frequent and reliable updates here.
My pleasure! We’re a little delayed on the Sherlock Contest Audit report, they are reviewing a change, but should have updates soon!
As an arb position user, my deep personal need is for the proposal to really enhance the value of the ARB and increase the activity of community governance, while guarding against potential risks. Personally, I would be concerned about transparency of the revenue model and crowdsourcing of development fees
Tally completed a public audit contest of ARB Staking with Sherlock. The audit came back with 0 significant issues found.
Thank you for your hard work! I roughly read the code. Is this contract code about the implementation of ARB Staking, or the implementation of all similar token staking functions? It seems to me that it is the latter? It seems that many functional modules are abstracted to make it more general.
What are the plans for launching official staking, are there any specific deadlines yet?
On the development side, our next step is to run an end-to-end public test of the staking UI + contracts. This is coming soon.
From the DAO side, the next step would be to create a proposal to fund rewards.
This contract code was built specifically to meet the requirements of ARB Staking. To ship ARB Staking, the contract code just needs to be assembled, configured, and deployed on Arbitrum One.
The repo linked is meant to modular and configurable, with components that can be modified or updated by the DAO in the future. We will release a separate repo that contains the deployment configuration and deploy logs for the actual instance to be used when it comes time for that.