The following reflects the views of L2BEAT’s governance team, composed of @krst and @Sinkas, and it’s based on the combined research, fact-checking, and ideation of the two.
We’re voting FOR this proposal and opting for bids to be collected in ETH in the treasury.
After reviewing the proposal, reading ARDC’s comparison of Timeboost to other transaction ordering policies, and ARDC’s risk analysis of Timeboost, we are supportive of its adoption on Arbitrum.
Collecting bids in ETH and letting it accumulate in the treasury is a more sensible approach. However, we’re also generally supportive of ARB buybacks and burns in a more general context, and perhaps we could see another proposal in the DAO to do that, utilizing the ETH in the treasury at a later date.
Having ETH enables the DAO to have more options that could bolster ARB’s utilitiy, including that of buying ARB from the market to burn it. If we directly collect bids in ARB and burn them, we limit our options from the start. Apart from burning ARB, mitigating against inflation and token unlocks could also be achieved through other means, such as Tally’s recently approved staking proposal.
Lastly, similar to other technical proposals we’ve had in the past, we’ll verify the executable of the proposal once it goes onchain before casting our vote.