Recap of December
- The Stylus Sprint application period continued through December. The evaluation committee hosted a 2nd open office hour to answer questions; recordings can be found here. The program now has 87 applicants and its timeline was shifted back one week to allow more time for the evaluation committee to provide initial feedback to every team before the grading period starts. Devs/teams interested in participating can apply on Questbook before January 13th, 11:59 pm UTC. For more information about this change, refer to this announcement.
- The Treasury Management v1.2 proposal passed Tally with ~159M votes FOR.
- The OpCo proposal passed a temperature check on Snapshot with ~129.9M of the total ~162M cast votes being FOR.
- The DAO approved ETH Bucharest 2025 as the first event to pull funds from the recently established 2025 Events Budget.
- Refined versions of the recently passed Delegate Code of Conduct & Updates to the DAO’s Operations were posted on the forum and can be found in the newly created Guides and Documentation subcategory.
- The MVP proposal passed a temperature check on Snapshot with near unanimous support.
- Entropy posted an impact report of the Questbook Domain Allocator program. The report showcases the top grantees from each domain along with feedback from grantees. In our research, Entropy also discovered an instance of a domain being scammed for 25k USD, highlighting the need for increased due diligence procedures in future programs.
- On the last incentive working group call of the year, Entropy presented the DeFi Renaissance Incentive Program (DRIP); a framework-based program that introduces seasons with a 5M ARB cap for various verticals and highly targeted objectives.
- The first iteration of the Watchdog Program (formerly known as the Sleuth Bounty Program) was posted to the forum before the Holiday Break.
- Entropy posted its first quarterly transparency report.
- Tom Wan (Twitter Profile) has joined Entropy Advisors as the Head of Data, starting on December 9, 2024.
- The Data Team launched 3 impactful onchain dashboards, showcasing insights and analysis to support the Arbitrum:
- Arbitrum RWA Case Study: offers an in-depth analysis of Real-World Assets (RWAs) on the Arbitrum network. This dashboard highlights RWA adoption trends and their potential for growth, aiming to educate the industry while equipping Arbitrum DAO with actionable insights. By leveraging these findings, the DAO can develop strategies to deepen its presence in the tokenization market and accelerate RWA ecosystem growth.
- Hyperliquid Bridge TVL: analyzes the $2.2B USDC held on Hyperliquid Bridge, a vital component of the Arbitrum ecosystem. Prompted by security concerns raised by researchers regarding potential testing by North Korean hackers, this dashboard provides tools to monitor outflows and identify unusual activity. It serves as a proactive measure to assess risks and safeguard the ecosystem’s stability.
- Arbitrum 2024 Wrapped: showcases 10 key metrics that encapsulate Arbitrum’s accomplishments, user activity, and ecosystem improvements throughout the year. Beyond summarizing network milestones, this dashboard offers personalized insights for users, enabling them to explore their unique journeys on Arbitrum. This feature aims to foster user engagement and boost marketing momentum across social media.
- Cattin’s last day was on December 31, 2024. We now stand at 5 full-time employees and an intern, but are actively seeking talent through a retained search by leveraging our networks in the industry.
Current Initiatives
- Stylus Sprint: Applications are currently open on Questbook until January 13th, 2025 at 11:59 pm UTC. After which, the 2-week review period will begin. Accepted applications will be announced on January 27th.
- OpCo: While the OpCo passed a temperature check with about 81% of the votes cast being FOR, there are, in our opinion, too many unaddressed concerns from delegates for us to move it immediately forward to Tally. The next steps have been modified to include a community call and an additional round of edits, accounting for learnings shared in GCP’s recent transparency report. Once the proposal passes Tally, the application period for the OAT will be initiated. We’re actively screening for Chief Chaos Coordinator and Chief of Coins candidates. These candidates will be relayed to the OAT and the Foundation, who are the ultimate decision-makers when it comes to hiring executive-equivalent personnel.
- Arbitrum DAO 2025 Events Budget: The 4M ARB approved as part of the proposal has successfully been monetized into $1.5m of stablecoins. The 2.25M ARB leftover has been returned to the DAO’s treasury and the stablecoins have been transferred to an MSS-controlled multisig. The ADPC recently posted an application template for event service providers to use when approaching the DAO with an event idea. The Foundation and OCL events teams have also begun solidifying plans for ETH Denver. In the coming weeks, the DAO can expect a more detailed update on how the funds will be utilized to bolster Arbitrum’s presence at ETH Denver. As a reminder, Entropy and the quoted group in the proposal are not responsible for selecting events or setting event strategies.
- Delegate Code of Conduct + Formalizing the DAO’s Operations: In effect since Monday, November 11th, with a ~6.5-month trial period until May 30th, 2025. As mentioned above, refined versions of both the Delegate Code of Conduct & Updates to the DAO’s Operations were posted on the forum. In January, Entropy will also collect feedback from delegates about the Holiday Break.
- Treasury Management v1.2: With the proposal passing Tally, the TMC and GMC have begun meeting to create the necessary materials for the RFP process, which opens on January 23rd). As a member of the GMC, Entropy has already begun to initiate conversations with LST and bridge protocols to ensure awareness across the industry.
- Watchdog Program: Previously known as the Sleuth Program, the Watchdog Program seeks to incentivize the identification and reporting of misused DAO-allocated funds. The program would utilize an incentive mechanism to reward community contributors and investigators who submit verifiable reports of misappropriation. The proposal has received substantial feedback from delegates over the break. Entropy will be updating the proposal shortly and will look to move it to Snapshot in January. If the proposal passes a temperature check, Entropy will manage a selection process to determine a suitable platform to host the Watchdog program.
- Unifying Arbitrum’s Mission, Vision, Purpose (MVP) / Strategic Objective Setting (SOS): With the MVP receiving near unanimous support on Snapshot, Entropy will be posting the Strategic Objective Setting proposal this week. During this phase anyone can submit one- and two-year objectives and associated key results for the DAO. If the SOS framework is approved through an offchain vote, the goal-setting process will take place over the course of 2-3 months. This will begin with a 14-day notice period during which the program’s visibility will be amplified, the expected start and end dates of the program’s different phases will be shared, and guidelines for submission will be posted… Entropy has also gathered feedback from delegates and key stakeholders in preparation for our submission through the SOS that would comprehensively account for the most pressing barriers and required focus areas from our POV.
- DeFi Renaissance Incentive Program (DRIP): After presenting a summary of the DRIP to the incentive working group, Entropy has begun incorporating feedback into a larger proposal. This proposal is nearing completion and will be posted in January.
- Embracing Chain Abstraction – Proof of Concept Proposal: Entropy is assisting @maxlomu in facilitating a proof of concept for the full-fledged Chain Abstraction proposal. The high-level idea is to provide capital to relayers that facilitate bridging for Orbit chains and Arbitrum applications, while also possibly introducing a few relatively straightforward improvements to the Arbitrum cross-chain UX.
Goals for January
With Entropy successfully achieving all of our outlined goals for December, in January our top priority will be to finalize the OpCo and move it forward to an onchain vote. Apart from this, our priority is to continue to deliver on the above-mentioned initiatives. Newer initiatives like the SOS and DRIP will be posted to the forum shortly. We aim to have the Watchdog program passed on Snapshot and the platform selection process underway. Entropy’s work for the GMC and Stylus Sprint program will continue through all of January. We’re also aiming to post the Chain Abstraction proof of concept proposal to the forum by the end of January, but this might have to be delayed until February depending on the feedback we receive from builders and solution providers. Lastly, our team will continue to monitor and manage the Delegate Code of Conduct and 2025 Events Budget initiatives, as well as continue our search for top-tier talent that can help us strengthen the Arbitrum ecosystem.
Requests from the DAO
Please continue to reach out and pass along requests to Entropy Advisors. Our team is always open to input from DAO members on which problems we should dedicate our efforts towards.