This is an updated Questbook that can grant up to 50,000.
We already voted for it in Snapshot 2 months ago, since then nothing has changed in this proposal, as well as our justifications
We supported the main proposal, and due to the large number of applications for Stylus Sprint, it is proposed to increase the budget from 5 million ARB to 9 million (+4 million)
I think this is a good development for Arbitrum in terms of attracting developers to the new Stylus framework.
Besides, I was initially inclined to a higher budget for main proposal.
The Farstar team, which is making a venture proposal in Arbitrum, wants to hold events. And only 1 live in Denver.
The rest will be Zoom seminars.
And this does not suit me, because DAO will essentially pay $67k for 1 offline meeting.
This initiative could have been built into the AVI proposal itself, then maybe there would be some sense in it
We have already voted to increase the developer grant budget by 4 million in Snapshot.
Unlike many who wrote that it is necessary to additionally give new projects the opportunity to get into the program, I believe that this increase was proposed specifically for projects that had already applied, but simply did not pass the budget. It would be unfair to them to give new projects the opportunity to take into account the priorities of the commission. In addition, the sprint implies rapid development of the program.
It seems like a good proposal, but Foundation wants to do it with DAO money, and AF (they have separate funding and quite large - 250 million ARB (Tally | Arbitrum | [Non-Constitutional] Funds to Bolster Foundation’s Strategic Partnerships Budget)) want to control it. It also turned out that the DAO ADPC committee (which is currently doing these audits) was also preparing its own proposal and tried to coordinate it with AF many times. This means that AF knew and got ahead of ADPC to take control of 10 million for themselves.
$25 million ARB allocated (in Treasury Management):
$15 million for stable strategy
$10 million for ARB strategy
Stables: divided into 3 parts (three different managers):
AAVE for potential 8%
DeFi (Pendle, Uni, GMX, etc.) for potential 12-20%
DeFi (almost the same) for potential 5-15%
ARB: into 2 parts (also different managers):
Myso strategy for call options 7-20%
Myso strategy for call options 30% (the manager later wrote that this is not quite the correct percentage, it is significantly less, about 10%)
The committee itself doubts the ARB strategy, because it can simply lose ARB with a sharp increase in the ARB price.
However, it seems to me that if this happens, this is essentially a conversion of ARB into stables, which will take place at a higher price than the 15 million ARB that will now be transferred to stables and this could potentially be more profitable.
So I voted:
For beginners in DAO management, a training project is being prepared in Arbitrum.
For 2 months, they will teach the basics of management, voting, decision-making, etc.
Afterwards, they will select the top 10 and give them a stipend of $4,500 each (for 3 months)
Despite the fact that the initiative itself is good, there are several negative aspects:
The number of participants is very small. A considerable budget is spent, from which a maximum of 10 delegates will emerge.
New delegates will have zero voting power, which will not give any advantages for the development of Arbitrum, unfortunately.
The stipend is too high for beginners in this business. The stipend for students in my region is 3 times less with a completely different workload.
Compared to the previous offer, Snapshot made several concessions, including my comments regarding the composition, to add more members from the DAO, since the DAO pays.
The program itself is standard, as it was about a year ago, with the same budget: 100k for audits for 1 company (total $10 million)
The program is designed for 100 companies over the course of a year. You still need to find so many good ones)
If someone looked at all the applications for the placement of new 35 million ARBs, then he probably spent all his working time on them, because they are very voluminous.
And of course, it is right that they are so detailed, since this is a large amount and a large risk analysis is required for the Arbitration.
However, there are many applications and most delegates cannot devote so much time, for this there is a special committee.
I carefully looked at the final 3 applications that the committee proposed and they inspire confidence and I voted for them, but for the future I would like the committee to justify the following points:
Why is the percentage distribution for each application approximately 30%? After all, the organizations are completely different and, for example, the amount of funds that WisdomTree manages is significantly larger than that of others (if we take into account not only cryptofinance). It would be logical to give a larger percentage to this company.
If some applications did not pass, it would be good to know why, because the delegates physically cannot review all the applications and, accordingly, will not be able to adequately make a decision. I would like to receive a report on why these particular applications were accepted, since almost all of them give the same percentage: 4-5%
I support this proposal as an exception.
Earlier in December, we agreed on a program for funding projects after the hackathon.
As far as I understand, it is AF that is responsible for the fact that it delayed the exchange of ARB tokens for stables for so long, and the drop turned out to be significant.
Projects participating in the hackathon and which should receive their funds for the development of ARbitrum should not suffer from this.
Although it is claimed that additional funds are not needed, in fact, these funds would have been taken from the treasury as soon as they returned from the old program. Therefore, we must consider that we are taking these funds from the treasury and we must treat this accordingly.
At first, it seems that this amount is small, but given that they initially took 252,000 ARB, and now the amount required is $90,000, then in fact, more than doubling the funds for this initiative is required (300,000 ARB)
The second part of the proposal suits me because this committee was created specifically for stables and how else would it deal with the remains of stables?