The following reflects the views of L2BEAT’s governance team, composed of @krst and @Sinkas, and it’s based on the combined research, fact-checking, and ideation of the two.
We are voting FOR this proposal in the temperature check.
Having read both the core and the pilot M&A proposals, and having discussed it in depth with multiple stakeholders, we’re not quite sure whether there are enough M&A opportunities for the DAO to execute on the scale outlined in the original proposal.
For M&A deals to be executed properly, the DAO should have the necessary business and legal structures set in place. While some initiatives are working to that end (e.g. the OpCo and the venture capital entity, etc.), none of them are yet established.
We are not entirely sure how much potential an M&A unit in the DAO has, but we understand that the purpose of the pilot proposal is to help us gauge the potential and better understand any existing possibilities in the broader landscape.
Additionally, we recognize and appreciate the amount of work put in so far by Bernard and the rest of the working group and we’d like to see it taken one step further and hopefully get some tangible, actionable results out of that work. Therefore, we’ll be voting in favor of the pilot phase proposal.
Having said that, we want to stress that our support here does not immediately translate to future support in pursuing the core M&A proposal. When that time comes, we’ll be assessing that proposal separately on its own merit, based on the learnings from the pilot phase, as well as the status of the DAO at that time.
Lastly, we’d like to express our interest in being involved in the process of developing strategic areas of interest by way of providing feedback and assisting in the alignment of the proposal with the DAO.