Another month of the ARDC concluded, and here’s what we’ve been up to, and what is currently on our plate.
Deliverables
STIP Retroactive Analysis - Perp DEX Protocols Volume Report — by Blockworks Research
In the context of their retroactive analysis of STIP, Blockworks conducted research and put together a report focusing on how the STIP impacted trading volumes in the perp DEX vertical. They employed a Synthetic Control approach to isolate the program’s effects from broader market trends.
BOLD Security Analysis — by Open Zeppelin
OpenZeppelin was assigned to review the AIP to activate BOLD on Arbitrum One and Arbitrum Nova and to focus specifically on the parameters of the BOLD involving the distribution of confiscated funds and their implications for the future. They conducted and published a comprehensive report.
STIP Risk Analysis — Case Study #3: Pendle Finance by Chaos Labs
Following their analysis of Vertex and Silo Finance, Chaos Labs worked on and published a third case study, this time on Pendle Finance. The scope of the analysis is the same as of the previous case studies and focuses on an in-depth analysis of the STIP program’s impact on Pendle Finance.
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:
- STIP Retroactive Analysis -Spot DEX protocols report.
- STIP Retroactive Analysis - Yield Aggregator protocols report.
- STIP Operational & Incentive Mechanism Analysis.
- Treasury Backed Vaults Analysis - due diligence and research recommendations.
Delphi Digital
- Research on the creation of a DAO Budget.
- Creation of an expenses overview to inform the creation of a DAO Budget.
OpenZeppelin
- Analysis of the security considerations of the DAO staking the ETH accrued from the sequencer.
- Security oversight for the creation of a DAO Budget.
- Event Horizon proposal - formal security review
- Security Audit of the governor contract upgrades to be implemented by Tally.
- Treasury Backed Vaults Analysis - Security Considerations
- Contribution to the DAO Budget creation workstream (backburner)
Chaos Labs
- Summary of learnings from STIP analysis and the 3 case studies.
- Arbitrum gas fees backtestig
- Treasury Backed Vaults Analysis - Risks associated with the DAO using CDP protocols
- Risk analysis of the governance parameters (backburner)
We want to remind you that anyone can follow along with the progress of the ARDC’s work in our Notion Dashboard.
Requests for the ARDC
- @EntropyAdvisors requested that the ARDC, and specifically Chaos Labs, collaborateS with them to help with backtesting the potential impact to network use at different minimum base fee parameters (0.02 through 0.1 gwei).
- Chaos Labs has been assigned to prepare the necessary groundwork, and we’ll then facilitate the coordination between Chaos Labs and Entropy to carry out a proposal for the DAO’s consideration.
- There were multiple different requests for the ARDC to conduct research relevant to the proposal submitted by @cupojoseph about Treasury Backed Vaults (TBV).
- We have assigned all members of the ARDC to the aforementioned task, and we plan to approach it from multiple different angles, taking into account all aspects of introducing TBV to the DAO.
We covered how the ARDC handles requests in the previous update here.
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.