We’re back. This week we are tracking ongoing initiatives in the Arbitrum Ecosystem with ETHCC coming and Stylus updates, reviewing new proposals, and voting for delegates.
Let’s dive into this week’s Arbitrum DAO news 
TL;DR - Snapshot of the Week
- Stylus is now available on Arbitrum Sepolia
- See you in Brussels at #ETHCC
- Mint an open edition #Arbizuki
- Arbitrum GovHack Brussels is Coming
- Onboarding to the Arbitrum DAO
- Discussions and Proposals
- Voting Reminders
- Governance Calls
- DAO Resources
Ecosystem News 
ATTENTION Developers, Stylus is now available on Arbitrum Sepolia.
The launch of Stylus on June 17, 2024, is accompanied by the Stylus Blitz Hackathon, offering a $15,000 prize for 10 projects. Stylus provides significantly higher efficiency in computing and memory costs, being interoperable with Arbitrum’s EVM. The hackathon will run from June 24 to July 7, featuring project presentations and winner selection.
See you in Brussels at #ETHCC
ETHCC will be held in Brussels, Belgium, from July 5 to 14, featuring web3 leaders and developers. The highlight is the Arbitrum GovHack from July 5 to 7, with $20,000 in prizes for projects on the Arbitrum protocol. Community meetings, talks, and the ETH Global Hackathon will also take place during the event.
Mint an open edition #Arbizuki on Zora
For the Arbitrum community, there’s an open edition of Azuki #723 on Arbitrum via Zora with a minting fee of 0.000777 ETH.
The open mint will last for one month! Mint your Azuki #723 here.
Ecosystem Spotlight
Savvy DeFi
Savvy offers non-liquidable credits in ETH mints (svETH), using profits to generate more credits. Deposits for loans are accepted in stablecoins, BTC, ETH, and other cryptocurrencies, while the native token SVY enables unlocking features and earning rewards.
Learn more about Savvy | Savvy Docs
DAO News
Arbitrum GovHack Brussels is Coming
Arbitrum GovHack Brussels will be held in Brussels from July 5th to 7th, inviting Web3 developers to participate in bootcamps, DAO presentations, and networking. Prizes totaling $20,000 will be awarded to the winning projects.
Arbitrum DAO Onboarding for new contributors
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:
Request for Additional Funding for the Arbitrum DDA Program
Arbitrum DDA 2.0 Program is requesting an additional $1 million in funding due to market fluctuations in the ARB token price, which reduced the originally planned $4 million to $3.397 million. This proposal ensures the program’s full execution and includes a contingency plan to return any surplus funds to the DAO.
Rationale
The shortfall resulting from ARB token price fluctuations, despite a 30% buffer, poses a challenge to the program’s effective implementation. The additional funds will safeguard against future market volatility and support the program’s success.
Project Asks
- Additional Funding: $1 million to supplement the existing budget.
- Contingency Plan: Return any surplus funds to the DAO upon program completion.
Ask: $1 Million USD
STEP Committee Shortlist
The STEP committee has shortlisted 17 products for further evaluation starting this June. These products were chosen for their potential to minimize risk, generate revenue uncorrelated to crypto markets, and grow the RWA ecosystem. The shortlist includes Backed, Centrifuge Anemoy LTF, DigiFT DRUST, among others.
Rationale
The evaluation focused on product viability, legal considerations, operational complexity, and transparency. High-risk assets, volatile equities, and products lacking transparency were scrutinized carefully.
Next Steps
- Additional Information: Shortlisted providers are invited to submit further information before the next review round.
- Transparency: Abstain votes due to conflicts of interest were disclosed to ensure transparency.
Encouragement: Unsuccessful applicants are encouraged to explore other opportunities within ArbitrumDAO programs.
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.
"Kwenta x Perennial: Arbitrum Onboarding Incentives (Tally)"
This proposal seeks a one-off grant of 1.9M $ARB, reduced from an initial request of 4.5M $ARB. The aim is to onboard significant new capital and users to Arbitrum by leveraging Kwenta’s existing user base and Perennial’s infrastructure. The incentive mechanisms and detailed execution strategy are designed to maximize user onboarding and retention, ensuring long-term benefits for the Arbitrum ecosystem.
Ask: 1.9M $ARB
Deadline to vote: Monday, 24 June, 2024
Link to vote
ArbitrumHub Evolution (Snapshot)
This proposal aims to further develop ArbitrumHub as the central hub for the ArbitrumDAO community, unifying updates, meeting details, and event insights. It emphasizes security, design, and transparent community engagement, consolidating resources and incentivizing involvement.
Ask: 160,000 $ARB
Deadline to vote: Wednesday, Jun 26, 2024
Link to vote
Multisig Support Service (MSS) Elections (Snapshot)
The application period for the MSS has closed, and the DAO is invited to vote on the top 12 candidates for the Multisig Support Service. The selected candidates will form the committee. Comprehensive details on each of the 40 applicants are available here. Weighted voting allows you to allocate 100% of your vote to one candidate or split your vote across multiple candidates.
Deadline to vote: Thrusday, June 27, 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:
- June 24: ARDC Weekly Sync, Arbitrum DAO Onboarding and Developer Relations Fellowship Group.
- June 25: Business Development Fellowship.
- June 26: Arb M&A Pilot Phase Bi-weekly and Arbitrum Open Governance Call.
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.
Reach out to us on @web3citizenxyz - we would love to hear your feedback!
Until the next edition, happy governing! 