1 Poll Closing November 7, 2024
Adopt a Delegate Code of Conduct & Formalize Operations
Summary: This poll asks ARB holders if they support adopting a Code of Conduct for a trial period that ends May 30th, 2025. Full text can be found here, and voters should be sure to read the whole thing.
Recommendation: Vote For. Much of the content around actual delegate conduct lacks a definition that we think will be enforceable. Some examples include delegate requirements to be informed and or hold themselves to certain standards of civility. We largely view these as aspirational and more akin to mission statements, and think that they will never be possible to enforce except in the most egregious cases. The exception is the requirement that conflicts of interest be disclosed if voting in a manner that allow for profit from those conflicts, which is more specific and could lead to enforcement actions (removal of delegate compensation and/or elected titles). This is a good policy on its own and would garner our support.
The formalization of operations is a significant step forward across a number of areas. It adds the code of conduct enforcement mechanisms to ensure the recently adopted voting calendar is honored - the primary requirement being on time that proposals spend at each stage and votes being initiated on Thursdays. It also provides specific guidelines around self-voting, which is again allowed, but only up to a limit that prevent unilaterally electing oneself to be viewed as legitimate. Overall, the items in the formalization of operations are high value, even if they’re not exciting topics.
2 Proposals Closing November 14, 2024
(V2) Arbitrum Research & Development Collective
Summary: This proposal asks ARB holders if they support renewing the ARDC with 3,980,000 ARB. Elections for the three seats (Risk, Security, and Research) would be held after approval.
Recommendation: Vote Against. While some value came out of the ARDC in the past, it’s not clear that it needs to be a permanent group. We’re not convinced this needs to be renewed. Separately, we’re also not in favor of the possibility of a 6-month term extension by a Snapshot confirmation – the term should be well defined, and any chance to be reelected should be contingent on facing challengers, rather than locking in incumbents. On grounds of an unhealthy electoral process on another extension, and just on our lukewarm feelings about the potential value to be delivered, we will vote Against. We fully expect this proposal to pass as-is, however, and wish the future members good luck and hope they prove us wrong.
Establishing A DAO Events Budget For 2025
Summary: This proposal establishes a maximum events budget of $1.5m for 2025.
NB: This proposal disburses excess ARB to guard against a shortfall. Any excess ARB after liquidation to $1.5m in stablecoins will be returned by the Foundation-controlled address handling the liquidations.
Recommendation: Vote For. This establishes a reasonable budget for Arbitrum governance official events for the entirety of 2025. The funds are not all earmarked, and represent a maximum, rather than an allocated, spend.