New opportunities for program managers within the DAO, proposals to analyze and vote on, new achievements for the Arbitrum ecosystem, as well a new working group.
Let’s dive into this week’s Arbitrum DAO news 
TL;DR - Snapshot of the Week
- Security Council Updates
- Arbitrum Close to Achieving $150B Swap Volume
- Arbitrum Ecosystem Spotlight: Footium
- RFP Process for Innovative Grant Programs and Managers
- Onboarding to the Arbitrum DAO
- Discussions and Proposals
- Voting Reminders
- Governance Calls
- DAO Resources
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 from a pool of 20 qualified candidates.
This final voting phase will last for an additional 8 days, during which delegates can vote for nominees who have passed compliance checks.
I'm a delegate, what do I need to do
- Delegates can split their votes across multiple nominees, with 1 token representing 1 vote.
- Delegates are advised to read this forum post to understand the key attributes to consider when evaluating nominees.
- Delegates can also review the recording of the call where candidates presented their pitches.
Arbitrum Close to Achieving $150B Swap Volume
Arbitrum is poised to surpass $150 billion in swap volume, a first for Layer 2 networks. This milestone underscores Arbitrum’s leadership in the decentralized finance (DeFi) sector.
For detailed data and insights, check this dashboard.
Ecosystem Spotlight
Every two weeks, we’ll feature different projects from the Arbitrum Ecosystem.
Footium
Footium is a multiplayer football management game where players own and manage their own digital football club.
Learn more about Footium | Footium Club
DAO News
Launching an RFP Process for Innovative Grant Programs and Managers
This initiative aims to attract innovative grant program ideas and identify dynamic program managers ready to lead them, focusing on diversity, strategic funding, and addressing immediate needs within the Arbitrum DAO.
Key Details:
- Funding Available: Up to 3 million ARB for 5-10 programs.
- Focus: Scalability and strategic impact, aiming for a “one dollar in, two dollars out” strategy.
- Deadline: Applications close end of April, with decisions by mid-May.
How to Get Involved:
- Submit a Grant Program Idea: Apply here
- Apply as a Program Manager: Apply here
Arbitrum DAO Onboarding for new contributors
Over 50 new individuals interested in contributing to ArbitrumDAO have attended the welcome calls in the first weeks of the onboarding group’s execution. In the coming weeks, they will receive participation instructions tailored to their profiles and skills.
If you’re interested in participating, the meetings occur every Monday at 1 pm UTC and Thursday at 11 pm UTC.
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.
Some Governance Discussions:
GovHack at ETH CC (Brussels)
Hack Humanity is gearing up to replicate the success of GovHack Denver by hosting GovHack Brussels to coincide with ETH CC.
Rationale
The proposal aims to solidify Arbitrum’s presence at a key Ethereum event, enhancing community ties and attracting global talent. The strategic importance of ETH CC makes this an essential opportunity for demonstrating Arbitrum’s leadership in the Ethereum ecosystem.
Seeking $309k from the Arbitrum DAO to create an immersive three-day event prior to the conference, focusing on fostering community engagement and showcasing Arbitrum’s capabilities in decentralized governance.
Implementation
- Event Dates: July 5-7, 2024, just before ETH CC in Brussels.
- Funding Urgency: The request is urgent with ETH CC only 11 weeks away.
- Activities: The event will feature hackathons, community showcases, and an after-party, all designed to foster deep connections and spark innovative ideas among participants.
- Funding Distribution: $309k is requested to cover all associated costs, ensuring a high-impact event.
Ask: $309k ARB.
M&A for Arbitrum DAO
The Arbitrum M&A Working Group is proposing the establishment of a dedicated M&A Unit within the DAO. This unit will focus on identifying and executing merger and acquisition opportunities to strategically enhance the Arbitrum ecosystem.
Rationale
The primary motivation for establishing an M&A Unit is to enable Arbitrum to deploy capital effectively and expand its ecosystem through strategic acquisitions. This untapped strategy in the crypto space presents a significant opportunity to set a precedent and capture untapped value, thereby maintaining Arbitrum’s competitive edge.
Implementation
The proposed implementation plan includes:
- Structuring the M&A Unit: Finalizing the legal and operational structure.
- Target Selection: Systematic identification and evaluation of potential acquisition targets.
- Strategic Acquisitions: Executing acquisitions that align with Arbitrum’s strategic goals, including integration into the Arbitrum ecosystem.
- Ongoing Management: Establishing a management framework for continuous assessment and integration of acquired entities.
Ask: $50k ARB for Pilot Phase.
AIP: BOLD - permissionless validation for Arbitrum
Stylus represents a strategic enhancement to the Arbitrum ecosystem by supporting additional programming languages, which can potentially lead to innovation and diverse application development.
Rationale
This upgrade is expected to reduce execution costs significantly while improving the safety and security of smart contracts. Furthermore, ensuring interoperability between different programming paradigms within the same ecosystem will facilitate smoother transitions and integrations for developers.
Implementation
- Completing an audit of the Stylus code and making necessary changes based on the audit findings.
- Conducting a snapshot vote to enable Stylus on the Arbitrum Sepolia test network.
- Integrating the Stylus branch into the canonical Nitro codebase following successful tests and community feedback.
- Launching Stylus on a public testnet to emulate real-world conditions and gather extensive user feedback.
- Following successful testing, an on-chain vote will be organized to officially deploy Stylus upgrades on Arbitrum One and Nova.
Proposal [Non-Constitutional] Arbitrum Treasury Token Swap Program
This proposal introduces the Arbitrum Treasury Token Swap Program aimed at electing five dealmakers to negotiate token swaps with key ecosystem apps.
Rationale
Ecosystem Growth: Token swaps ensure long-term platform commitment from builders and integrate mature apps more deeply into Arbitrum’s ecosystem, potentially including Orbit L2 adoption.
Treasury Diversification: Enhances treasury assets beyond stablecoins by acquiring strategic stakes in ecosystem projects, promoting mutual growth and ensuring ecosystem loyalty.
Implementation
Dealmaker Dynamics: Five dealmakers will be elected to conduct and manage negotiations, focusing on establishing beneficial and strategic token swap agreements.
Operational Steps:
- Public announcement of shortlisted projects via on-chain proposals.
- Use of escrow tools to lock deal terms, mitigating price manipulation risks.
- Comprehensive KYC for all parties involved before finalizing agreements.
Project Asks
Funding: Requesting 210,000 ARB to compensate the dealmakers and manage the initial phase of the program.
Process Oversight: Community-driven approvals for all major decisions, ensuring transparency and alignment with DAO objectives.
Ask: 210,000 ARB
Temperature Check: Change Arbitrum Expansion Program to allow deployments of new Orbit chains on any blockchain
The Arbitrum Expansion Program is proposed to be expanded to enable deployments of Orbit chains on blockchains beyond just those deriving security from Ethereum. This proposal seeks community feedback on allowing Orbit chains to launch on networks like Bitcoin, Binance Smart Chain, Cosmos, among others.
Rationale
Revenue Potential: Broadening the permissible deployment landscape could significantly enhance revenue streams for ArbitrumDAO due to a higher number of deployments.
Industry Influence: By allowing Orbit to deploy widely, Arbitrum could reinforce the dominance of EVM-compatible technologies, promoting further adoption across diverse blockchain environments.
Ecosystem Advantages: While restricting Orbit chains to Ethereum-related blockchains could centralize and strengthen the Ethereum ecosystem, diversification may prevent potential limitations exclusive to Ethereum and address evolving definitions and configurations in blockchain technology.
Implementation
Operational Changes: If approved, the Arbitrum Foundation will handle the collection of the 10% profit share from new chains, ensuring these contributions are funneled back to the ArbitrumDAO’s treasury and the Arbitrum Developer Guild.
Multi-Signature Requirement: Projects must verify that the Arbitrum Foundation has established a multisig on the chain of choice to collect and manage revenue shares effectively.
Program Documentation Update: The Arbitrum Expansion Program description will be updated to reflect the ability to deploy on any public blockchain network, with continuous support and alignment with the Arbitrum DAO’s governance and community values.
Project Asks
The community is asked to participate in the decision-making process through upcoming governance calls and a Snapshot vote to determine if the Expansion Program should be broadened to include any blockchain network or remain exclusive to Ethereum L1.
Discussion and Voting:
- Governance Calls: Scheduled for April 22, 2024, at 10:00 UTC and April 26, 2024, at 16:00 UTC.
- Snapshot Voting: To decide between allowing any blockchain network or restricting to only Ethereum L1. The outcome will guide the Arbitrum Foundation’s subsequent adjustments to the program.
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.
" GovHack at ETH CC (Brussels) (Snapshot)"
The proposal aims to solidify Arbitrum’s presence at a key Ethereum event, enhancing community ties and attracting global talent. The strategic importance of ETH CC makes this an essential opportunity for demonstrating Arbitrum’s leadership in the Ethereum ecosystem.
Seeking $309k from the Arbitrum DAO to create an immersive three-day event prior to the conference, focusing on fostering community engagement and showcasing Arbitrum’s capabilities in decentralized governance.
Ask: $309k ARB.
Deadline to vote Thursday, May 2, 2024.
" LTIPP Applications (Post Council Feedback)(Snapshot)"
Protocols not initially recommended by the council have now submitted their proposals to Snapshot. They are available with comments and feedback, enabling the community to determine their eligibility for funding from the LTIPP program.
Deadline to vote Thursday, May 2, 2024.
" Double-Down on STIP Successes (STIP-Bridge) (On-Chain)"
The STIP Bridge is a strategic initiative within the LTIPP program designed to support key protocols in the Arbitrum ecosystem, providing a bridge to the forthcoming Perpetual Incentives Program. It aims to sustain Arbitrum’s market position by offering timely incentives to essential projects, ensuring their continued commitment and engagement in a competitive Layer 2 landscape.
Ask: 37.6M ARB.
Deadline to vote Friday, May 3, 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.
- Delegate to Voter Enfranchisement Pool — Event Horizon (Snapshot)
- Subsidy Fund for Security Services (Snapshot)
- Safeguarding Software Developers’ Rights & the Right to Privacy (Snapshot)
- Request for Continuation of the Arbitrum DDA Program Request (On-chain)
Governance Calls
Upcoming Calls:
- Arbitrum DAO Onboarding
- Change Arbitrum Expansion Program to allow Orbit Chain deployments on any blockchain - Governance Call
- Gov Call for RIP7212 and Nova Fee Router proposals
- Kickoff Grant Program Manager Coaching Session
- Arbitrum Open Governance Call
- M&A Working Group
You can subscribe and add the Arbitrum governance calls to your calendar here
Arbitrum DAO Resources
Here are some valuable resources of the Arbitrum DAO:
"I want to be up to date in theArbitrum DAO"
Don’t forget to subscribe to this newsletter: Arbitrum DAO News
"I'm a delegate or contributor in the Arbitrum DAO"
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.
About us, @ocandocrypto and @eugenia, we’re core contributors to web3citizen.xyz.
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Until the next edition, happy governing!