We’ve just wrapped up another stage of the Security Council Elections, and in a commitment to integrity, a participant was removed due to conflicts of interest. The first cohort of the Delegate Incentives Program has been implemented, and a new working group is launching within the DAO to onboard new contributors.
Let’s dive into this week’s Arbitrum DAO news.
TL;DR - Snapshot of the Week
- Introducing Arbitrum DAO Onboarding Calls
- Delegate Incentives Program First Cohort
- Security Council Elections Stage Updates
- Legal and Operations-related proposals
- Open Discussion of Proposals Governance Call
- Active Proposals Live for Voting
- Notable Forum Discussions
Ecosystem News
Security Council Elections
ArbitrumDAO is currently in the process of electing 6 new members for the March 2024 Cohort of the Security Council out of 44 candidates who have applied for the role during the Contender Submission phase.
Two candidates who are affiliated with Polygon Labs have applied to become part of the Security Council (here and here ). Therefore and in accordance with the ArbitrumDAO Constitution, the two candidates will be removed from the elections during the compliance stage.
I’m an Arbitrum Security Council candidate
The candidates who have progressed to the next stage are currently undergoing a compliance review by the Arbitrum Foundation.
If you’re one of the candidates, you’ll be receiving communication from the Arbitrum Foundation to initiate the compliance review process.
This step is crucial to determine who will advance to the following stage.
You can find more information about the Security Council Election process here.
I’m a delegate, what do I need to do
Make sure to familiarize yourself with each stage of the process, so you understand when and how to exercise your right to vote.
DAO News
Arbitrum DAO Onboarding for new contributors
Every Monday at 1 pm UTC and Thursday at 11 pm UTC, meetings will be held to welcome individuals interested in contributing to the DAO, allowing them to join and become part of this program.
The goal of this working group is to provide opportunities within existing projects or through the creation of new initiatives. It aims to connect and bring new contributors and members into the Arbitrum DAO.
I'm interested in becoming an Arbitrum DAO member or contributor
Please make sure to add the Arbitrum DAO Calendar for the full schedule and the most accurate times.
I'm looking for new contributors for my Arbitrum DAO projects or working group
A list of contributors with different backgrounds and interests in the DAO will be created. If you’re a member of a working group in the DAO, interested in recruiting new members or contributors for your initiatives, or involved in creating a new proposal, etc., feel free to reach out on TG at @ArbitrumDAOOnboarding so we can connect you directly with interested contributors.
You can find more details about this working group in the Arbitrum Forum.
Delegate Incentives Program
The Delegate Incentives Program has successfully completed its first month, featuring a preliminary list of the most active delegates who met the program’s criteria throughout March.
The aim is to encourage and boost active participation in the DAO, ranging from voting to generating new value propositions for the ecosystem.
I'm an active delegate participating in the program
Please check your forum messages, as you’ve received instructions on how to complete the necessary KYC with the Arbitrum Foundation.
Once that’s settled, everything will be in place for you to receive your payment for the effort you’ve contributed to the DAO in March.
I'm interested in following the current delegates participating in the program
Each cohort is conducted monthly, and you can track all progress on the Karma dashboard as well as view current participants in the forum application thread.
Some Governance Discussions:
Subsidy Fund for Security Services
The ADPC has proposed a subsidy fund ($10M USD in ARB) to support up to 50 projects in the Arbitrum ecosystem by covering the costs of security audits from pre-approved service providers.
Rationale
The focus is on enhancing growth and competitiveness in key areas like RWAs & Tokenization, Gaming, and Collab Tech - with an emphasis on transparency, integrity, and positive impact on the Arbitrum ecosystem.
Implementation
The fund aims to distribute subsidies across four cohorts over an 8-month period, with an average allocation of $200K worth of ARB per project and a maximum of $500K.
The ADPC will evaluate applications to ensure equitable access and prevent exploitation.
Ask: $10M in ARB.
AIP: Activate Stylus and Enable Next-Gen WebAssembly Smart Contracts
The proposal to activate Stylus on Arbitrum One and Nova aims to enhance the Ethereum Virtual Machine by allowing smart contracts in Rust, C, and C++, promising to attract more developers, reduce costs, and ensure interoperability.
Rationale
- To attract a broader range of developers by supporting additional programming languages.
- To reduce execution costs and enhance safety features.
- To maintain full interoperability between Solidity and WASM programs, ensuring seamless interaction between existing EVM contracts and new Stylus contracts.
Implementation
- Complete audit and remaining code changes
- Snapshot vote to enable Stylus on Arbitrum Sepolia
- Merging the Stylus branch into the canonical Nitro codebase
- Testing on a public testnet that emulates production environments
- An onchain vote to deploy the upgrade on Arbitrum One and Arbitrum Nova
Proposal: Request to match my donation to boostrap Curve Lending on Arbitrum
Michael Egorov, founder of Curve, has proposed that the DAO matches his donation of 237,500 ARB (i.e. total of 475,000 ARB) to support the launch of new Curve lending markets on Arbitrum.
Rationale
- To bootstrap the supply side of the crvUSD/CRV/ARB pool, enhancing liquidity and market depth
- To introduce ‘soft-liquidation’, whereby full liquidation of collateral only happens if the price falls below a predetermined range that is set by the user
- Curve’s significant role in the DeFi industry and its history of security are seen as beneficial for attracting new users to Arbitrum
Implementation
- The Curve lending market is set to deploy on Arbitrum - contracts already deployed and the front-end available
- The proposal includes a commitment to publish bi-weekly reports and a final report on the forum
- Regardless of the outcome of this proposal, Michael Egorov will us his ARB to incentivize Curve on Arbitrum
Ask: 237.5K ARB
Kwenta x Perennial: Arbitrum Onboarding Incentives
Kwenta & Perennial present this joint proposal to request 1.5M ARB/month over 3 months (4.5M total) to fund targeted onboarding incentives to bring Kwenta users over to Arbitrum.
Rationale
- Kwenta, a perpetuals exchange and one of the biggest DeFi apps in the Optimism ecosystem - is coming to Arbitrum (by being built on top of Perennial V2)
- Perennial will become Kwenta’s first non-Synthetix liquidity source, bringing new users to the Arbitrum ecosystem
Implementation
- Targeted onboarding incentives for existing Kwenta users on
Optimism/Base to trade on Arbitrum - Fee rebates to onboard traders to Kwenta
- Liquidity bootstrapping for markets demanded by Kwenta trader
- Trading competitions, probabilistic rewards, and other experiments
Ask: 4.5M 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.
Arbitrum Stable Treasury Endowment Program(On-Chain)
This proposal aims to support the budding RWA ecosystem on Arbitrum by diversifying 35 million ARB from our treasury into assets that are stable in value with minimal volatility, liquid in conversion and provide yield uncorrelated to crypto markets that is at least commensurate with the so called “risk free rate of return” of US Treasuries (hereby called ‘stable RWAs’)
This is NOT a grant; it is an investment that Arbitrum governance can exercise control over and recall, subject to agreed-upon conditions with successful applicants
Ask: 35.3M ARB.
Deadline to vote Saturday, April 6, 2024.
Expand Tally Support for the Arbitrum DAO (On-Chain)
Tally is proposing to expand their support for the Arbitrum DAO by:
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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]).
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Highlight delegate contributions (Karma integration).
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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 Friday, April 12, 2024.
Empowering Early Contributors: The community Arbiter Proposal 2.0 (On-Chain)
This proposal proposes to allocate 125,000 $ARB tokens, equal to 0.00125% of the total supply, to recognize and reward the outstanding contributions of the Arbitrum community member known as “Arbiter”. Arbiter receives the arbiter community role in the arbitrum discord after having made significant contributions to Arbitrum, as recognized by members of the Arbitrum team.
Ask: 125,000 $ARB.
Deadline to vote Saturday, April 6, 2024.
Request for Continuation of the Arbitrum DDA Program Request (On-Chain)
The Arbitrum Grants Program, facilitated through a Delegated Domain Allocation (DDA) model by Questbook, has seen significant engagement, with $912k allocated to over 60 proposals from an initial budget, demonstrating a high level of community and builder participation.
Given the positive feedback and the substantial number of quality proposals received, a new grant initiative is proposed.
This new phase will allocate $4 million across four domains in the next two quarters, aiming to sustain and expand the support for innovative projects within the Arbitrum ecosystem.
Ask: $4M USD in ARB.
Deadline to vote Voting start on Saturday, April 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
Upcoming Calls:
- Open Discussion: Governance Tools and Mechanisms
- ADPC Call
- Arbitrum - L2Beat Office Hours
- AVI Working Group Call
- Arbitrum DAO Onboarding
- Open Discussion of Proposal(s) - Bi-weekly Governance 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:
- Arbitrum Hub
- Arbitrum DAO X
- Arbitrum News DAO X
- x23.ai Arbitrum discussions
- Arbitrum Governance Calls Calendar
- Arbitrum Delegates Announcements Telegram Channel
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! 
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