Thanks for sharing your concerns about the Gaming Catalyst Program. Some of the rationale for this proposal is a bit confusing, but we hear you on the request for additional transparency.
The GCP has been working intensely with our stakeholders to create a robust program that fits within a unified Arbitrum Gaming organization and narrative. Establishing an investment focused program with a goal of also generating value for the Arbitrum DAO as opposed to only dispersing grants, was and remains a unique undertaking; establishing both foundation and operational level policies, procedures including oversight of the diligence and decision making process, takes time.
Much of this work so far has been accomplished with GCP Council members and the Arbitrum Foundation observer empowered by the DAO to hold trusted information not shareable publicly.
In addition, there has been heavy involvement from other GCP stakeholders, including Offchain Labs and the Arbitrum Foundation to establish a unified Arbitrum Gaming presence. If the GCP was not holding to its responsibilities and progressing, our stakeholders would have taken action to ensure accountability and proper adjustment.
Governance/entity documentation has already been made publicly available, encompassing Bylaws and M&A:
Here’s what has been communicated to follow this week:
Although our pending quarterly update is coming this week, but we wanted to drop this here as a preview:
- We have two pending offers to potential candidates, with a robust plan for hiring a GM and additional team members
- A co-investment framework with three major publishers/ecosystems is in the final phases of review and negotiation
- We have processed over 50 investment opportunities (went past initial screening, data room etc shared), with final terms and capital deployment as the next steps for the applications that have moved past our robust DD process
- The first cohort of grants is being processed, with a top native builder, innovative loyalty platform, entertainment focused chain, and esports / ecommerce platform being among the first cohort
- The AF and GCP have agreed to a vesting structure that has only been unlocked recently as operations and setup have reached a maturity level to start receiving funding
More will be coming the next week in higher fidelity, but we thought it was prudent to share the above in response to questions about progress.
As Arbitrum Gaming, we will continue to host conversations to connect game builders with the broader DAO and help educate folks on the immense opportunity gaming brings to Arbitrum. We can also promise to continue moving in a direction that helps frame both gaming and the Gaming Catalyst Program as an opportunity everyone should be optimistic about.
This will be a continuing conversation, but we also want to hear from delegates and contributors about what type of content, cadence, and transparency you would like to see. We are already committing to the following rituals:
- GRC monthly call updates (Most recent update here)
- Regular updates on the Arbitrum forums
- Regular transparency reports w/ in-depth review of hiring, operations, grants, investments, and other aspects)
Suggestions for additional transparency we have heard:
- Newsletters w/ updates on GCP and perspectives on gaming
- Gaming roundtables where builders and other contributors can discuss painpoints, strategic topics, funding, etc
We are open to all suggestions, as long as we can support them with our limited resources.
While we have always been available to delegates including GFX Labs, we still acknowledge we could have done better to prioritize sharing of governance documents and other asks, hopefully the actions taken over the last few weeks and months show the commitment to better address this. We have presented an in-depth progress report to key delegates at Arbitrum Delegate day during Eth Denver for example, and have committed to deeper updates at monthly GRC calls.
Thank you for all the patience and collaboration. Excited to continue serving as a part of why Arbitrum Gaming, and Arbitrum more broadly will win.