Arbitrum DAO News: Governance and Security Council Elections , March 21st 🔐

Governance
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Less than 24 hours left to apply for the Security Council, along with several proposals to review and pending votes for the Delegates.

Let’s dive into this week’s Arbitrum DAO news.

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TL;DR - Snapshot of the Week

  • LTIPP progress updates
  • Catalyze Arbitrum Gaming: HADOUKEN!
  • Proposal to fund Plurality Labs Milestone 1B(ridge)
  • Arbitrum Stable Treasury Endowment Program
  • Expand Tally Support for the Arbitrum DAO
  • Double-Down on STIP Successes (STIP-Bridge)
  • Empowering Underrepresented Delegates
  • Delegate to public good citizen enfranchisement pool
  • RnDAO proposal for an Arbitrum Collab Tech Business Cluster
  • Open Discussion of Proposals Governance Call
  • Active Proposals Live for Voting
  • Notable Forum Discussions

Ecosystem News

Security Council Elections :bangbang:

The Security Council is a committee of 12 members who are signers of a multi-sig wallet, which can perform Emergency and Non-Emergency Actions to uphold the ArbitrumDAO’s Constitution.

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Security Council Elections are held every 6 months, and allow the DAO to elect new Security Council members (which can be individuals and/or entities).

I’m interested in participate in the Arbitrum Security Council ‼️

Anyone, whether individuals or entities, interested in participating as a candidate in the Security Council Elections is encouraged to announce their intention to run on the governance forum by:

  • Creating a profile post on the ‘Security Council Elections’ category which could include background and relevant details, as well as reasons why delegates should vote for them.

  • Using the ‘mar-2024-elections’ tag so delegates can identify that the applicant is running for the upcoming elections in March

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Stage 2 Deadline: Friday, March 22nd.

You can find more information about the Security Council Election process here.

I’m a delegate, what do I need to do

We invite delegates to review each of the current candidates and ensure they meet each of the following criteria, as well as identify their voting options and any feedback or comments that may arise during the process:

Make sure to familiarize yourself with each stage of the process, so you understand when and how to exercise your right to vote

Choosing the right council members is crucial for the security of the Arbitrum ecosystem given the authority vested in them.

DAO News

LITPP Program Updates

After a successful Application phase with 173 applications and a request of 152 million USD to the program, we are now in the Advisors phase with 163 applications, seeking 66 million USD after the feedback process that the protocols underwent. The council will utilize a pre-determined rubric to evaluate each protocol and determine which ones will progress to the voting period to receive ARB.

The screening phase continues, with each application being subjected to a voting process via Snapshot, enabling Arbitrum delegates to vote on fund allocation.

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If you wish to track the progress of the LTIPP and review the advancements of the applications and protocols currently participating, please check here.

Some Governance Discussions:

Double-Down on STIP Successes (STIP-Bridge)

SavvyDAO is proposing for the Treasury to establish a 37.5M ARB pool where any protocol funded under STIP is eligible to apply for a bridge grant coinciding with the LTIPP distribution window.

Rationale

In light of competitive pressures from aggressive incentives programs from other ecosystems, the DAO should equip the major players with the resources to keep Arbitrum as a market leader. While LTIPP and various other programs are driving towards a permanent incentive program, Arbitrum must aggressively compete NOW for network growth.

Implementation

Only protocols that receive challenges (amount of votes & method of voting to be finalized) would undergo a full voting process to determine if they need to have a 66% super majority support.

Projects asks
  • Greater than 500k ARB: may make a funding request of up to 50% of their prior funding.
  • Less than or equal to 500k ARB: may make funding requests up to 100% of their prior funding, capped at 250k ARB.

Ask: 37.5M ARB.

Empowering Underrepresented Delegates

Stemming from GovHack, this proposal seeks to increase participation in the DAO by empowering 10 DAO-approved, underrepresented delegates, with an additional 1M delegated ARB, each

Rationale
  • Despite actively participation in governance, many delegates do not have sufficient voting power nor ‘clout’ to have their ideas seriously considered
  • By empowering underrepresented delegates, the DAO could have more voices being ‘heard’ in proposals
  • A quarterly Active Delegate refresh is encouraged to maintain accountability of those who have been allocated delegation and give newly qualified delegates a chance to participate
Delegate Requirements
  • Have between 50K and 1M ARB
  • Have onchain voting participation rate >80% in the last 3 months
  • Voted as top 10 delegates out of qualifying candidates, on Snapshot

Ask: 10M ARB.

Delegate to public good citizen enfranchisement pool

EventHorizonDAO suggests enfranchising the DAO’s small and value-aligned voters by having them mint a soul-bound voter pass which would allow them to dictate how 5M ARB delegated to EventHorizon’s public access-voter pool, is governed.

Rationale
  • It provides a more voice to smaller, retail voters.
  • Incentives participants interested in governance and the ecosystem itself,rather than financial gain, with more governance power
  • It drives participation through a game-theoretic process called Implicit Delegation (which has no cost)
Implementation
  • Subject to participation/output-based KPIs outlined below and a clawback after 1 year
  • Event Horizon team has offered a $3,000 ETH grant to reimburse the gas cost Arbitrum community members spend to mint voter access passes

Ask: 5M ARB.

RnDAO proposal for an Arbitrum Collab Tech Business Cluster

RnDAO is proposing for the DAO to fund the next step on this Business Cluster development initiative:

  • Recruit up to 12 Fellows and 4 Ventures + development of a vertical-specialized investment Syndicate.
  • Fellows to start researching a problem, and also provide continuity to selected builders from Cohort 1 to move to the Venture Building program and apply their research.
  • Additional grant from the Arbitrum Foundation to develop legal and governance structure as a fully-fledged program and decentralized control of the legal wrapper(s).

Ask: 440.000 ARB.

Voting Reminders

Active Proposals Live for Voting

The following proposals are available for voting, and we encourage all delegates to analyze and exercise their right to vote.

  • Catalyze Arbitrum Gaming: HADOUKEN! (Temp Check)

    This temp check is to evaluate if there is consensus form the DAO to work towards implementing and funding the creation of the a 2 year, 200M ARB earmarked Gaming Catalyst Program and Fund.

    • The ‘Gaming Working Group’ will be treated as temporary custodians to enhance the proposal with necessary details.
    • ARDC, Plurality Labs & Questbook will consider the DAO’s signalling to prioritize reasonable requests from the Gaming Working Group and eventually the elected council to help establish GCP, until such time that a separate budget is approved for GCP
    • Gaming Working Group will come back to the DAO within 30 days of this proposal passing with options for a methodology and criteria for electing a council, plan for staffing up the eventual GCP and an interim funding request.

    Ask: 200M ARB.
    Deadline to vote Friday, Mar 22, 2024.

  • Expand Tally Support for the Arbitrum DAO (Temp Check)

    Tally is proposing to expand their support for the Arbitrum DAO by:

    • Improving the proposal process (Forum, Temp Check and Onchain AIP all under Tally UI),
    • Upgrading the Governor contracts (add cancel(), Flexible Voting [voting from Orbit chains, voting from DeFi contracts, and shielded voting]),
    • Highlight delegate contributions (Karma integration).
    • Ensure that the DAO is set up for success by researching specifications for partial delegation and shielded voting.

    Ask: $200.000 USD in ARB.
    Deadline to vote Tuesday, Mar 26, 2024.

  • Proposal to fund Plurality Labs Milestone 1B(ridge) (OnChain AIP)

    Plurality Labs are proposing to replicate its initial Pluralistic Grants Framework’s (1A) with a request for 3.36M ARB (has 514K from milestone 1 to rollover) over 6 months: 2.8M ARB for funding ecosystem development, 336k ARB for Plurality Labs and 224k ARB for program management.

    Ask: 3.36M ARB.
    Deadline to vote Tuesday, March 26, 2024.

  • Arbitrum Stable Treasury Endowment Program (On Chain)

    This proposal aims to support the budding RWA ecosystem on Arbitrum by diversifying 35M ARB from our treasury into stable RWAs to earn the so-called ‘risk-free-rate’.

    This proposal is a trial run for a larger investment policy of the ArbitrumDAO treasury, both in

    • Creating a legal and infrastructural pipeline that future diversification proposals can take guidance from and
    • Proof of concept that we can diversify the DAO treasury in a way that supports ecosystem growth (future STEPs will explore diversification into other vehicles and more crypto-native strategies)

    Foundation will be the entity that interacts with service providers for KYB and compliance, hold any tokens/NFTs received in exchange of investments and have authority to withdraw assets, periodically sweep interest earned from these assets to our treasury, and conduct fire drills.

    Allocation of 35M will be done by screening committee. DAO will vote on whether the allocation is approved.

    Council: Karpartkey, GFX Labs, Steakhouse Financial, Nethermind, North Lakes Legal

    Program manager will receive applications from SPs, filter out incomplete applications, and prepare an assessment report.

    Ask: 35M ARB.
    Deadline to vote Sat Apr 6, 2024.

No longer Active Proposals for Voting

The following proposals have concluded, and we invite delegates to stay tuned for their development within the Arbitrum DAO. The approval of a proposal is just the beginning, not the end.

Governance Calls

:soon: Upcoming Calls:

  • Security Council Elections - Who are the candidates? :bangbang:
  • Open Arbitrum Delegates Emergent Workshop
  • Open Discussion of Proposal(s) - Bi-weekly Governance Call
  • M&A Working Group
  • AVI Working Group Call

You can subscribe and add the Arbitrum governance calls to your calendar here.

Arbitrum DAO Resources

To stay connected and informed, here are some valuable resources:

Stay Connected, Stay Informed

Every week, we analyze new proposals, summarize the state of the Arbitrum DAO, and provide you with the tools to contribute and increase your impact in the Arbitrum ecosystem.

We would love to hear your feedback as we continue to provide more Arbitrum DAO news each week.

Until the next edition, happy governing! :blue_heart::orange_heart:

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:open_book: Don’t forget to subscribe:

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your markdown skills are improving very nice and thank you for your service

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Thank you very much! I’m thrilled to receive your feedback and to keep enhancing this initiative.