The following reflects the views of L2BEAT’s governance team, composed of @krst and @Sinkas. It’s based on their combined research, fact-checking, and ideation.
We’re voting FOR the proposal.
Since our favorable vote during the temp-check, the only thing that has changed is that Entropy will be replacing Devansh as the facilitating member due to the latter accepting a full-time offer at the Ethereum Foundation. Given that, we understand the need for replacement and support the decision.
One thing that occurred to us and should be addressed sooner rather than later is the compensation of the program manager. In STEP 1.0, the ARB earmarked for the PM’s compensation wasn’t enough to cover the USD-quoted fees for the 1-year tenure, so we had to vote on a separate proposal to deal with the situation. Steakhouse’s tenure from STEP 1.0 ends on September 2025, which means that STEP 2.0 will;
- Either have to complete within 3 months, from early May after the DAO ratification of committee recommendations to September, or
- Hold yet another vote to decide how to deal with the compensation of the program manager.
In the vote mentioned above, the resulting decision was that Steakhouse would be paid its dues from the yield STEP 1.0 generates. Perhaps it’s also worth discussing something similar for STEP 2.0, as it avoids putting price pressure on ARB.
Lastly, we want to take the opportunity to state once again that we want the committee to leverage the service providers we’re engaging with for more than just using their services. This could, for example, come in the form of a co-marketing campaign for RWAs on Arbitrum.