The Security Council has initiated a non-emergency action to correct the total Delegated Voting Power (DVP) recorded by the ARB token contract.
When the DVP quorum system was activated, the ARB token contract was initialized using an estimate of the total DVP. The proposal anticipated that a follow-up action could be used to correct the recorded value if the initial estimate differed from the actual total.
As of Arbitrum One block 457010837:
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The actual total DVP (including ‘exclude’) was approximately 5.407 billion ARB.
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The ARB token contract recorded approximately 5.459 billion ARB.
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The value recorded by the contract was therefore approximately 51.17 million ARB too high.
Importantly, the ~ 5.4 billion ARB figure includes ARB delegated to the designated exclude address. ARB delegated to the exclude address is technically delegated, but it is not used to vote and, once the recorded figures are corrected, will be ignored in the DVP calculation. The ~5.4 billion ARB figure should therefore not be interpreted as the amount of voting power available for use in governance.
The proposed action will reduce the total DVP recorded by the ARB token contract by approximately 51.17 million ARB.
No actions need to be taken by users. The action will not change users’ ARB balances or the voting power delegated to individual delegates. It only corrects the aggregate DVP value recorded by the ARB token contract.
We will update this thread as we progress through the steps of initiating and executing the action. If you have any questions, please respond to this thread.
Correcting the Recorded DVP
A comparison was performed at Arbitrum One block 457010837 using:
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The total DVP reconstructed from delegation events; and
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The total DVP recorded by the ARB token contract’s
getTotalDelegation()function.
The comparison produced the following results:
Actual total DVP:
5,407,451,149.079192893219290111 ARB
Total DVP recorded by the contract:
5,458,617,008.862503155958282897 ARB
Required adjustment:
-51,165,859.783310262738992786 ARB
The approximately 5.4 billion ARB total includes ARB delegated to the designated exclude address. Although ARB delegated to this address is technically delegated, it is not used to vote and, once the figures are corrected, will be ignored when calculating DVP.
The proposed action will apply the negative adjustment above so that the aggregate value recorded by the ARB token contract accurately reflects the reconstructed total DVP.
To enact the correction, the non-emergency Security Council must initiate a transaction through the non-emergency action path. This process will take approximately 14 days to complete.
The action will call the following function on the ARB token contract:
adjustTotalDelegation(int256)
The function will be called with the following adjustment:
-51165859783310262738992786
Transaction Details
Proposal payload:
(governance/scripts/proposals/AdjustTotalDvp at 044cec56961bc5727197d90c6aea955ebe8570d2 · ArbitrumFoundation/governance · GitHub)
Non-emergency action transaction:
(Arbitrum One Transaction Hash: 0x6acfe3348f... | Arbitrum One)