I will be supporting this snapshot proposal, but with a request that we take a large portion of the funds requested and make it subject to vesting.
Show me the incentive, I’ll show you the outcome.
To allocate this $30M in funding I would like to see long term incentive alignment between the PL & ThriveCoin decision makers and the ArbitrumDAO. Of course many people on the team can just collect a salary with no lockup, but the key decision makers will have other financial biases and probably even get bribed. If they have a large portion of their salaries actually given to them in ARB locked for a few years, it will provide a clear financial bias in the DAO’s direction, and make it a lot easier for them to stay focused on the long term success of Arbitrum.
Suggested revision:
- $1 million in ARB paid upfront (30-day moving average pricing).
- $1.75 million in ARB, secured in a Hedgey Token Lockup contract for 1 year.
- $1 million in ARB locked with a 3 year cliff and a 2 year stream
A few other notes.
I really like the diversity of programs that have emerged out of Arbitrum in the last several months, compared to other ecosystems I participate in which only have 1-3 programs. We have yet to see the full scope of impact that the work has had so far, but given the market conditions, the abundant grants funding coming out of other competing ecosystems, and progress that PL has shown so far, I think this is an easy yes for the DAO.
I do think large improvements can be made, especially in coordination and marketing around these funding opportunities, but this has all been addressed in the proposal.
I should also be clear that I have a potential conflict of interest as I am in talks with PL about using Pairwise for running a grants program this year, but that said, even without this bias I would absolutely double down on PL for this vote. Many of the most important wins for the DAO came because of the work of PL I would love to see what they can do with a larger team, a longer deadline and a larger allocation.