TMC Recommendation
Vote: Abstain
Gauntlet abstains from this proposal. Because of the nature of this voting structure, we ranked options below the abstain but chose to abstain due to Gauntlet’s application as a stablecoin strategy provider.
GMC’s Preferred Allocations (7,500 ETH) (Snapshot)
Vote: For
Gauntlet has voted in favor of this proposal to activate treasury management of DAO ETH by supporting it’s use in DeFi. Aave, Fluid, and Camelot represent strong DeFi protocols on Arbitrum, and earning yield on DAO-held treasury while stimulating liquidity in the Arbitrum ecosystem is a meaningful use of DAO treasury funds. That said, there are still questions regarding the setup of the council with meaningful conflict of interest considerations, however these are considerations for the future rather than reasons to block a reasonable program today.
We also would like greater sophistication around the determined deposit amount, particularly POL. If the DAO allocates liquidity to a protocol, it should have a thesis and expected KPIs for this liquidity’s effect in stimulating trading volume (AMM) or borrowing activity (Lending).
Moving forward, we expect OpCo to take a more neutral stance in these programs and establish more sophisticated entities or protocols capable of managing active liquidity beyond DAO voting.
[CONSTITUTIONAL] Proposal: For Arbitrum DAO to register the Sky Custom Gateway contracts in the Router (Snapshot)
Vote: For
Gauntlet has voted in favor of this proposal to support USDS and sUSDS via the Router contracts. We believe this change will enable a better UI for Spark bridgers and users.
[CONSTITUTIONAL] - Adopt Timeboost + Nova Fee Sweep (Onchain)
Vote: For
Gauntlet has voted in favor of Timeboost and the Nova Fee Sweep. While we strongly support the Nova Fee Sweep, Gauntlet trusts Offchain Labs to endorse Timeboost. Gauntlet has some hesitations regarding the mechanisms’ implications for certain onchain activities. That said, given the core team’s belief in the technology and its benefits, we will support the ecosystem in the experiment of launching Timeboost onchain.
[NON-CONSTITUTIONAL] Arbitrum Onboarding V2: A Governance Bootcamp
Vote: Abstain
This was a difficult proposal, which the Arbitrum Foundation eventually flagged for its expense budget despite no immediate solution being provided. While we understand those concerns, the program is also the only program currently available to serve this need, and we do not believe that it is inherently a waste of funds if overpriced.
We believe this proposal was signaled out, perhaps unfairly, compared to other initiatives. If meaningful participants are attracted, $17K per recruited participant is less than the DAO has paid a council member to check boxes and provide low-to-negligent service for some council positions. It’s also not outrageous given the proposed engagement these participants would have compared to the “acquisition costs” of events.
Gauntlet believes DAOs remain an important avenue for emergent talent, and Arbitrum is no exception. An Abstain vote here represents our conviction that this program should be re-evaluated and re-designed with 404 DAO and the Foundation to find an honest compromise before returning to vote or re-structured within OpCo.
Security Council Elections (Nomination Onchain)
Votes: OpenZeppelin, Michael Lewellen, Jack Sanford, Crtora, Jake Nyquist, Vlaidslav Yaroshuk.
Gauntlet voted for these candidates as nominations for the Arbitrum Security Council based on their reputation and qualifications.
[Non-constitutional] ARB Incentives: User Acquisition for dApps & Protocols (Snapshot)
Vote: Against
Gauntlet votes against this proposal given several factors, including the current transition toward OpCo, the lack of specification around incentive optimization and strategies, and too broad of a mandate regarding the type of dApps targeted.
TMC Stablecoin Recommendation (Snapshot)
Vote: Abstain
As an applicant, Gauntlet has abstained from this proposal.
TMC ARB Recommendation (Snapshot)
Vote: Abstain
As an applicant, Gauntlet has abstained from this proposal.
OpCo – Oversight and Transparency Committee (OAT) Elections (Snapshot)
Vote: A.J. Warner, Patrick McCorry, Frisson
We have voted to elect A.J., Patrick, and Frisson for the OAT. There were a number of strong candidates up for election, but ultimately, our decisions stemmed from our historical understanding and interpretation of the need for OpCo to function as a mesh layer between OCL, Arbitrum DAO, and the Arbitrum Foundation. As OpCo evolves, we expect this board to change.
Still, at the initial structure, we think these parties represent able and knowledgeable representatives who are best positioned to guide the structure of OpCo moving forward.
In particular, Frisson and Patrick are likely the two most knowledgeable applicants of the existing operational structure required to interface between the Arbitrum DAO and its legal wrapper, the Arbitrum Foundation. These are exactly the experts needed to ensure the structure of OpCo is efficient and accountable to DAO stakeholders.
[NON-CONSTITUTIONAL] Arbitrum Audit Program (Onchain)
Vote: For
Gauntlet has voted in favor of the Arbitrum Audit Program and believe it represents an opportunity for the Arbitrum Foundation to demonstrate it’s operational capacity to operate grant programs on behalf of the Arbitrum DAO.
Arbitrum Security Council (Onchain)
Votes: Hari, Certora, Open Zeppelin, Michael Lewellen, Valislav Yaroshuk, Dennis Stucken
Gauntlet has voted for the above candidates due to our confidence in their ability to execute the Security Council role. This was an encouragingly competitive election, and we supported a wide breadth of candidates as a vote of confidence toward the strength of the candidate pool that Arbitrum DAO has assembled for this election.
Approval of STEP 2 Committee’s Preferred Allocations (Snapshot)
Gauntlet has voted in favor of the STEP 2 committee allocations, believing they represent responsible and positive additions to the existing suite of STEP investments.
[Non-consitutional]: Top-up for Hackathon Continuation Program (Snapshot)
Vote: Top up Both
While we voted against the original proposal, this operational shortcoming should not have occurred and occurred on behalf of the Arbitrum Foundation and MSS operations rather than the grantee’s failure to convert ARB in a meaningful manner. As such, we support the grant’s funding to completion as agreed upon in the post.
The Watchdog: Arbitrum DAO’s Grant Misuse Bounty Program (Onchain)
Vote: For
Gauntlet has supported the Watchdog proposal as we believe it’s a meaningful advancement toward decentralized accountability and serves to mitigate previous issues observed in DAO grant programs.
AIP: ArbOS Version 40 Callisto (onchain)
Vote: For
Gauntlet supports the Callisto upgrade to support the Pectra Ethereum upgrade and minor fixes regarding Arbitrum Stylus.
DeFi Renaissance Incentive Program (DRIP)
Vote: For
Gauntlet supports the DRIP program, although we do believe it is critical that appropriate objectives and evaluation/distribution partners are selected.
[Constitutional] AIP: Constitutional Quorum Threshold Reduction (Snapshot)
Per the AF’s proposed quorum adjustment, Gauntlet supports lowering the quorum to align it with current engagement.
Adjust the Voting Power of the Arbitrum Community Pool & Ratify the Agentic Governance Pivot (Snapshot)
Vote: Reduce Delegation to 100K
Gauntlet appreciates the EH experiment, and agree that a reduction to 100K is an appropriate result for this vote. EH team has been very involved and communicative, and while traction was not as high as we had hoped, we believe it does create a voice for small ARB holders.
Wind Down the MSS + Transfer Payment Responsibilities to the Arbitrum Foundation (Snapshot)
Gauntlet supports the MSS wind down and looks forward to the operational capacity of OpCo (once it stands up) supporting the Foundation in MS operations moving forward.
AIP: ArbOS Version 40 Callisto (Onchain)
Vote: For
Gauntlet has voted in favor of the 40 Callisto upgrade to support the Pectra Ethereum upgrade and minor fixes regarding Arbitrum Stylus.
** Reallocate Redeemed USDM Funds to STEP 2 Budget** (Snapshot)
Vote: For
Gauntlet has voted in favor of this reallocation and appreciates the AF’s willingness to execute the conversion.
DeFi Renaissance Incentive Program (DRIP) (Onchain)
Vote: For
Gauntlet has voted in favor of the DeFi Renaissance Incentive Program, although Gauntlet may still opt to participate as an evaluation or distribution partner, we support the proposal in it’s capacity to bootstrap growth on Arbitrum either way. We believe it’s worth exploring new approaches to growth, despite some reservation around the ability to bootstrap complex markets in just 3 months.
Updating the OpCo Foundation’s Operational Capability
Vote: For
Gauntlet supports updating the OpCo Foundation’s operational capacity. OpCo is a critical piece of infrastructure that needs to work nimbly, as expressed previously, we support the dismantling of existing programs and re-organization under OpCo as well as equipping OpCo with the capacity to do so.
Let’s improve our governance forum with three proposals.app feature integrations
Vote: Against
We do not believe that Proposals.app is a worthwhile investment in DAO infrastructure at a time when the DAO is primarily focused on streamlining proposals and supporting better DAO organization via OpCo.
Register the Sky Custom Gateway contracts in the Router (Onchain)
Vote: For
Gauntlet has voted in favor of this proposal to support USDS and sUSDS via the Router contracts. We believe this change will enable a better UI for Spark bridgers and users.
[Constitutional] AIP: Constitutional Quorum Threshold Reduction (Onchain)
Vote: For
Gauntlet supports lowering the quorum to align it with current governance engagement per the AF’s proposed quorum adjustment.
Arbitrum Treasury Management Council - Consolidating Efforts (Snapshot)
Vote: For
Gauntlet is in favor of consolidating treasury management execution both to save costs as well as to ensure efficiency in operations
[Constitutional] AIP: Remove Cost Cap on Arbitrum Nova (Snapshot)
Vote: For
Gauntlet supports the AIP to remove cost caps on Arbitrum Nova to decrease inefficiencies and believes the justification for removing the cap is consistent with Arbitrum’s long-term growth.
Extend AGV Council Term and Align Future Elections with Operational Cadence
Vote: For
Gauntlet supports the extension of the council following a conversation with the Council on the progress made.
Arbitrum Research and Development Collective V2 - Extension
Votes: Don’t Extend
Gauntlet thanks the ARDC for setting up an essential program at the beginning of the Arbitrum DAO. It has been a staple program for some time. That said, the DAO is no longer needing the services provided, and we believe institutions are being built to facilitate these needs on an as-need basis rather than on a long-term rolling basis.