August Update
Another month of the ARDC concluded, and here’s what we’ve been up to, and what is currently on our plate.
Deliverables
Response to Arbitrum Staking Proposal (ARDC Research Deliverable) — by Delphi Digital
Delphi Digital compiled and published a memo in response to Tally’s proposal to activate ARB staking. The memo includes a lot of helpful context so delegates can reasonably assess and decide how to vote on the proposal.
TBV Research — by Blockworks Research
Following multiple requests under @cupofjoseph’s proposal, Blockworks Research was assigned to outline the operational structure of operating a Treasury Backed Vault (TBV) while using a CDP protocol.
Arbitrum Governor V2 Review — by OpenZeppelin
OpenZeppelin was assigned to review Tally’s proposal to upgrade the governor contracts. OpenZeppelin reviewed ScopeLift’s contributions and deployment scripts, creating the proposal and enacting changes on-chain. In their report, they note that they “ found the codebase to be of high quality and have only found Low and Note severity issues. [They] found the test suite to be comprehensive and well written.”
Arbitrum Governance Upgrade Rollout & Timeline — by OpenZeppelin
Following their review of the Arbitrum Governor V2 proposed by Tally, OpenZeppelin published a post with their recommendation for the timeline and plan for the rollout governance upgrade. Based on the recommendations of ScopeLift, there needs to be a moratorium of new proposals on Tally during key stages of the upgrade.
Treasury Backed Vaults Risk Analysis — by ChaosLabs
Following multiple requests under @cupojoseph’s proposal, we assigned Chaos Labs to conduct a risk analysis of the DAO operating a Treasury Backed Vault (TBV) while using a CDP protocol.
Security Analysis of Arbitrum Staking Proposal — by OpenZeppelin
Before the proposal to activate ARB staking went to Snapshot, OpenZeppelin was assigned to review the proposed changes. Following their review, OpenZeppelin has provided several important security recommendations that they encourage us to consider to enhance the system’s security stance.
Follow Up – DAO Income Sources and The Path to Staking — by Delphi Digital
Following their DAO expenses analysis, Delphi Digital published a memo that dissects the income of Arbitrum’s DAO and provides the backdrop on which delegates can better assess the proposal to activate ARB staking.
Risk Analysis of Adjusting the Minimum Base Fee on Arbitrum — by Chaos Labs
Following a request by Entropy, Chaos Labs performed and published a comprehensive data-driven analysis of the likely implications of increasing the Arbitrum minimum base fee.
Incentives Research Summary — by Blockworks Research
At the request of the DAO Advocate, Blockworks put together a summary of all the deliverables they have published on incentives as part of their engagement with ARDC.
Current ARDC Work
A high-level overview of the work that is currently on the plates of the members of the ARDC is as follows:
Blockworks Research
- Incentives research in other ecosystems
Delphi Digital
- Timeboost vs Fastlane report
OpenZeppelin
- Rari Foundation proposal review
Chaos Labs
- Timeboost proposal risk analysis
Given that September is the last month of engagement for the ARDC, we’re cautious about overburdening members with a lot of workstreams that they might be unable to finish on time. That said, ARDC will pick up a few more workstreams before its term ends. The above workstreams are merely what has already been on our plate and will transfer to September.
Requests for the ARDC
- @Entropy requested that the ARDC works on a comparison of MEV solutions (Timeboost/MEV-Boost/Fastlane).
- The ARDC is working on this request and has assigned Delphi Digital to complete a report, similar to the one they did for BoLD.
- @Entropy requested that the ARDC works on backtesting and providing suggestions for what the Arbitrum minimum base fee should be.
- Chaos Labs was assigned to the task and the report was published as a response to the original post of the request.
- @amanwithwings requested that the ARDC performs a security analysis of EIP-4824 adoption by Arbitrum DAO.
- We will discuss the request internally to determine whether there is the capacity to undertake the review, given that it’s the last month of engagement for the ARDC.
Call to Action
We want to remind delegates that the ARDC is here to support the DAO and the work delegates are doing, and it’s at their disposal under the direction of the DAO Advocate. To that end, there’s a biweekly call every other Monday at 12 pm UTC. You can find the link for it in the Arbitrum Governance calendar.
In addition, we invite delegates to reach out to us (L2BEAT) in our capacity as DAO Advocates if they have topics in mind that they believe the ARDC should be assigned to. To that end, we are available at the biweekly call mentioned above, on Telegram (Krzysztof & Sinkas), and during our L2BEAT Arbitrum Office Hours every Thursday at 3 pm UTC.