Name: coinflipcanada
Wallet Address or ENS: 0xF92F185AbD9E00F56cb11B0b709029633d1E37B4
coinflipcanada.arb
Tally Profile URL https://www.tally.xyz/profile/0xbadb71ee8e5212f0e83ba90e7e8334014cf40a4c
Telegram / Twitter ID: @coinflipcanada
What area are you most interested in contributing to? choose up to two tags:
- DeFi development on Arbitrum
- IRL Arbitrum community gatherings
Please share your stance on overall goals for the DAO:
- Community, technical prowess and committed builders, be it Off Chain Labs or the protocols on Arbitrum, they have been the cornerstones of our success.
- The DAO must take this base and prepare for the future, one that includes more chains (L3s, Anytrust), multiple programming languages that help bring us the next generation of Crypto builders and deliver on the promise of scaling Ethereum.
- When creating incentive and grant programs we need to evolve beyond DeFi 1.0 liquidity mining programs, instead we need to find better measures for impact. This means incentivizing capital, protocols and activity that strengthen the ecosystem, and not which sit in isolation and don’t engage the rest of the ecosystem, simply accruing incentives before moving to the next chain.
- If you are interested in learning more about my views on the DAO, feel free to contact me on twitter or telegram (details above)
- Look forward to your support in helping to guide Arbitrum forward.
Languages I speak and write:
- English
- plus more but shall avoid doxing myself
Disclosure of Conflict(s) of Interest:
- I am a core contributor at GMX with a focus on Strategy and Ecosystem development
- founding advisor to the Camelot DAO crafting its ecosystem strategy
- Personal investments across the Arbitrum ecosystem with a focus on DeFi
- informally advised multiple protocols deployed or intending to deploy on Arbitrum on strategy, go to market and opportunities to collaborate
- I inherently will have the desire to support protocols I’m involved in and which have proven themselves to be aligned with the goals of the DAO, I’m not big on a PvP style thinking instead seeing a much larger opportunity in building the space for all of us.
- The protocols i’ve been involved with are leaders in the collaborative approach that has made Arbitrum such a unique place to build. GMX is the pre-eminent DeFi protocol on Arbitrum, with the largest TVL, volumes, fee generation and more importantly, nearly 100 protocols and partners integrated or building on top of it creating a chain-wide flywheel. Camelot has been singularly focused on helping protocols both new and existing deploy on Arbitrum, providing them with a DEX, staking services, and guidance on how to collaborate with a growing round table of builders across the ecosystem.
- I do not believe any of the above would prevent me from using my best judgment to operate in the best interests of advancing the Arbitrum ecosystem. If you feel that it is not possible for me to separate my investments and roles from the success of the Arbitrum ecosystem and DAO, you are lucky as there are many other worthy candidates.
Sample Voting Issue 1: Uniswap / Flipside
Prompts to Answer: How would you vote?
- Would vote “FOR” the proposal although would have preferred a more balanced proposal.
What amendments would you make to the proposal if any?
- staggered rotation of electing members to the allocation and oversight committees so that at the time of the one-year renewal of the program, the community has had the opportunity to update control if things are not progressing as intended.
- Would not have the vendor on the oversight committee, but have a mechanism allowing them to propose actions and require these to be voted on.
- Retain the 7-seat allocation committee size, but with a single seat for the vendor, and require 4/7 approval. This means the vendor can’t veto any proposal, and any proposal passing requires a majority of independent members.
How would you approach the tradeoff between centralization of authority and the ability to get things done?
- ultimate authority and control vests in the DAO, decentralization does not mean all activity needs to be implemented and executed directly by it. What is needed instead is delegation and accountability for those that perform actions for the DAO.
- Large matters should be handled in a trustless fashion, but for operations trust but verify is a practical necessity.
Sample Voting Issue 2: FEI Hack
Outside the flipping of the vote, how would you choose to handle this situation?
- The split vote was a failure of governance. Such a fundamental event in the history of the DAO, should have gone through a more natural progression including allowing the contours of the decision to evolve with a final vote on along with the actual code for any resolution.
- Split reimbursement would be the answer when dealing with an exploit or hack that strikes at the long-term viability of a platform. The goal should be that under the right circumstances, people could achieve a full reimbursement, through the future success of the platform continuing.
- Founding, supporting and using DeFi protocols is an inherently risky endeavor, and its usage should never be assumed to have an implicit backstop thus creating an expectation of a risk-free return, risk must exist. Having said that, we should reward not punish early users who help to pave the way.
- Compensation could be structured in the form of a debt-like instrument that receives a portion of protocol revenue, fees or recovery of funds, or issuance of vest or escrowed tokens giving them a long-term interest in the revival of the protocol after this incident. The LEO token from the Bitfinex BTC hack was a great example of this in action.