Recap of September
- The Stylus Sprint passed Snapshot with 152m votes FOR.
- Entropy has successfully hired a top-tier data analyst. They will be starting in early December and will be critical to our team by helping us drive more data-driven proposals and contributions to the DAO.
- All initiatives outlined in our previous monthly recap have progressed, with several proposals being posted to the forums. Additional details below.
Current Initiatives
- OpCo: The first draft for OpCo is now complete and is being reviewed by a group of individuals who have been thinking about OpCo and its ideal design for an extended period of time. Depending on feedback, the proposal will be published to the forums in the coming weeks.
- Arbitrum DAO 2025 Events Budget: This proposal is now in the forums and has been adjusted from outlining an events “strategy”, to simply setting aside a set budget for 2025 events. These events will be in partnerships with the Abitrum Foundation/OCL with the proposal being designed to help bolster Arbitrum’s presence at major conferences across the globe, as well as non-crypto focused events in an attempt to onboard new users/contributors. Once OpCo is stood up, the budget will be rolled into the entity with the expectation that a full-time events coordinator will be hired to create an event strategy. Our team is actively working on incorporating feedback from delegates and this will be published to Snapshot sometime in October.
- Delegate Code of Conduct + Updating DAO Operations: In an effort to rollup all of the DAO’s recent social agreements, this proposal will present a Delegate Code of Conduct alongside other agreed upon operational changes (voting schedule, shielded voting, and disclosure policy). It is now in the internal review stage and can be expected to hit the forums in October.
- Stylus Sprint: This proposal passed Snapshot in September and will be moving to Tally shortly after feedback is incorporated.
- Treasury Management: After taking the lead of the treasury management working group, our team has gathered input and feedback from delegates to craft a solution. We are proposing treasury management be split into two tracks: treasury management ™ and growth management (GM). The TM will be allocated 25M ARB, 10M of which will be used for ARB-only onchain strategies and 15M being swapped into stables to serve as a DAO “checking account”. The GM will be allocated 7.5K ETH and focus solely on strategic growth partnerships that must be approved by the DAO on a case-by-case basis. The proposal was posted to the forums last Saturday and will be moving to Snapshot on October 10th, barring any large structural changes that are required as well as ensuring the TMC and GMC members have been solidified.
- ARB Staking Working Group: Entropy is actively participating in the ARB staking discussions, which has been split into two working groups: Staking Rewards (research into sources of funds) and Active Delegation (defining active delegate and who should get rewards). We have communicated to Frisson that Entropy is happy to take on the Staking Reward chair position to act as a project manager and ensure the work is properly divided among contributors. The working group received 20k ARB to fund its research, but Entropy will forego all payment.
- Sleuth Bounty Program: Establishes a bounty program dubbed “The Sleuth”, which seeks to incentivize the identification and reporting of misused DAO-allocated funds. The program would utilize an incentive mechanism to reward community sleuths, investigators, and insiders who submit verifiable reports of misappropriation. ImmuneFi, an existing Arbitrum partner, is envisioned as the platform that can be adapted to support this initiative. This proposal is near completion and will be posted to the forums in October.
- Vision, Mission, and Key Objectives: Entropy is still looking for further feedback on the first proposed draft. A temperature check will be posted this week on October 3rd to gauge DAO sentiment and further refine its language. If ratified, the Delegate Code of Conduct will include language referencing the Vision, Mission, and Key Objectives.
- Incentive Programs: Entropy has been active in the incentives working group calls thus far. We are ready to contribute to the design of a future program wherever needed and are currently in the process of understanding the best way to move forward through communications with the Incentives Working Group contributors.
Initiatives Put on Hold
- An Orbit Chain Focused Proposal: Originally a proposal focusing on a strategic partnership to improve the user experience and liquidity on Orbit chains. Due to delegate feedback, priority being given to other initiatives like OpCo, and some overlap with the Treasury Management proposal’s GM track, this proposal has been placed on hold for the time being.
- Governors of Oversight and Transparency (GOAT): After discussions with legal teams ingrained in the Arbitrum ecosystem, the GOAT has been placed on hold and next steps to create the OpCo were revised.
Goals for October
While Entropy has successfully hired a data analyst, we are still looking to hire an additional member to help ensure the team’s bandwidth can meet the additional activities that will arise as we enter the execution and maintenance phase.
In September we kicked off several new initiatives, so our goal for October is to get a majority of these over the finish line and up for either Snapshot or Tally votes.
Lastly, we are formalizing our internal processes for creating proposals to improve our team’s turn around time. The new structured flow for proposals will be:
- Ideation with feedback followed by an internal due date.
- Once a draft is completed, three days of internal review, followed by an external review by delegates and key stakeholders with subject-matter expertise.
- Proposal hits the forums for public feedback and input.
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.