Below you’ll find a general update from the OpCo that covers everything we and the OAT have been working on throughout August. Going forward, we’ll be posting the monthly OpCo updates from this account, as opposed to having an OAT member publish them.
Oversight and Transparency Committee (OAT)
Second Term Elections
The elections for the second term of the OAT were concluded with A.J. Warner and Patrick McCorry being reelected, and Pedro Breuer being elected alongside them (Pedro was previously appointed to the OAT). The three members then reappointed Gavin Wang for the fourth seat, and appointed Traver Normandi (Tnorm) to the fifth seat, replacing Tyler Bench (Frisson).
During August, Tnorm’s onboarding took place, and he is now operating at full capacity as an OAT member. Additionally, the OAT continues to fulfill its functions: supporting the OpCo’s strategy and direction, supporting the AGV wind-down process, and working with Entropy and the Arbitrum Foundation on the ATMC allocation proposals.
Pedro Breuer also published an update on behalf of the OAT, which covered the elections and the new composition, and also included more information on the qualifications of the appointed members.
OpCo
Hiring
In August, we formally announced the hiring of Coinflip as the Head of OpCo.
Coinflip has spent the last five years building in DeFi, and has actively participated in ArbitrumDAO both as a builder, but also as a delegate. He was one of the core contributors at GMX, and he has spent a lot of time on all things Arbitrum.
With a Head of OpCo now onboarded, the OAT will step back from actively driving hiring, and will instead leave it up to the OpCo Team to determine the need and suitability of any further hiring.
Governance & DAO Initiatives
Arbitrum OpCo Dashboard
To make it easier for delegates to keep up to date with the things that OpCo is overseeing or executing on without having to dig and read through multiple forum posts, we built an overview dashboard. Through the dashboard, delegates can quickly see high-level information for each initiative at a glance, from the historical context to the wallet balances to deliverables and other relevant information.
The dashboard is not meant to replace the updates on the forum, not does it contain any information that’s not already publicly available. Instead, it’s meant to provide delegates and other interested parties with a quick and easy way of navigating the different programs that the OpCo is running and presenting all relevant information in a digestible way.
We’re constantly looking into making the dashboard better and even more useful to delegates, so if you have any feedback or something that you’d like us to add, please don’t hesitate to reach out.
AGV Wind Down
The OpCo is continuing working on the orderly wind-down of the Arbitrum Gaming Venturs (AGV) program. In July, we returned 43M ARB to the DAO treasury, and 7M USDC to the ATMC. In August, a new council was appointed so there’s a governance body in place through the end of the year to provide oversight during the wind-down, consisting of Pedro Breuer, David Bolger, and Coinflip.
We will share more news about the AGV wind-down in the dedicated thread we have created once we have more to share. You can also get a quick overview of the process in the respective dashboard page.
ATMC
Following Armin’s onboarding as Head of Finance, OpCo now handles the coordination between Entropy Advisors, OAT and AF on treasury decisions and execution. The 7M USDC returned from AGV has been received by the ATMC and forms part of its deployable stablecoin balance. For portfolio composition, yields, and monthly activity, Entropy’s reporting on the forum and the live data at arbdata.com remain the sources of record.
RAD
Over the last couple of weeks, we’ve been working on an AI-enabled solution to calculate the rewards each month in a more automated way. As a result, and after a lot of back-testing, we’ve decided that we’ll be internalizing the program manager’s scope. We’ve already discussed this with Ministro who we want to thank for his work in RAD, and in DIP before that.
We’ve also made a separate announcement in the dedicated ‘RAD Program Manager & Scope of Work’ post which you can read here.
Lastly, we have launched ‘My RAD’ in the dashboard that we built which can help delegates that participate in the program keep track of the items that need their attention to be eligible for rewards, such as active votes, or rationales they haven’t posted.
You can visit dashboard.arbitrum-opco.com/my-rad to see more.
Watchdog
We have worked with Entropy and the Arbitrum Foundation to take over the compliance and payments aspect of the Watchdog program, while we continue to work with the Watchdog Committee to investigate reports. We’ll also be taking on the communications for the program, so expect future updates for Watchdog to be published by OpCo, like the one we recently published covering August.
Additionally, we also published a proposal seeking to ban projects involved in high-severity cases of funds misuse from any future ArbitrumDAO programs. The proposal was co-authored by the Watchdog Committee.
You can get a quick overview of all things Watchdog by visiting the dedicated page on the dashboard here.
Other Governance Operations
August was also the first month where the consolidation of DAO calls took place. Due to low participation, and to avoid delegates’ fatigue by having to attend multiple different calls throughout the week, we decided to consolidate the bi-weekly Open Discussion of Proposals call with ours and Entropy’s office hours calls.
Additionally, we’ve changed the format of the Governance Reporting Call (GRC) and instead of walking delegates through updates during the call, the OpCo prepares and sends a 1-pager to delegates ahead of the call, and the time during the call can be spent answering questions or explaining things in more details if requested. That way, delegates can stay up to date with what’s happening in their own time, without having to spend an hour listening through a recording.
Lastly, and due to the consolidation of calls mentioned above, we’ll be retiring our OpCo <> DAO Calls thread. Going forward, the recordings from our office hours will be available at the Open Discussion of Proposals category (every call has 1 recording for the open discussion of proposals part, and the office hours). Additional general updates will be available in the ‘OpCo’ category on a monthly basis.
If you have any questions or concerns, please contact Sinkas on Telegram.