At L2BEAT, we haven’t made our decision yet about how we are going to vote on AIP-1.1. We are leaning towards voting FOR, but we’d like to have more discussion around it. We’ll be having a community call on Wednesday, 12.04 at 12 PM ET, 16:00 UTC. We encourage all interested parties, especially those who have delegated their tokens to L2BEAT, to join the discussion; we’ll go through each AIP currently being discussed and will explain how we are going to vote and the reasoning behind our decisions.
We will post the link to the discussion later in this thread (we’re still considering which platform to use), and we will also post a short summary of the discussion here afterwards.
As for this proposal, we generally like the presented approach.
1. Smart Contract Lockup
We definitely support the idea of having the “Administrative Budget Wallet” funds locked in a vesting vault controlled by the DAO. In our opinion, this serves two purposes:
- It provides the Foundation with a significant budget, positioning it well in the blockchain landscape against similar organizations behind other chains.
- It grants the DAO authority over these funds, allowing the DAO to clawback them if necessary.
However, we would like to note that it’s impossible to assess how this solution will work in practice right now, as there are no details about the smart contracts for the said vesting vault and its configuration parameters. Ideally, it would be best to know those details (or at least some broad technical vision) before the vote happens.
2. Operating Budget
We support this overall budget structure, although we echo some other commenters’ remarks that it could have been a bit more detailed. We think it’s a good starting point, and we should work together with the Foundation to establish an expected level of budgeting details for the future.
3. Ecosystem Growth Initiatives
We support the idea of the Foundation having a dedicated budget for sponsoring ecosystem growth initiatives. In our opinion, this could be mirrored by a similar grants program run by the DAO in a more open and transparent ashion. However, this should be a subject of separate debate.
4. Transparency Reports
We support the plan to provide transparency to the Foundation’s operation through Transparency Reports. We think that the first transparency report that has been presented is a good starting point, although we believe that in the future the information presented there could be more detailed. The structure and scope of future transparency reports should be discussed with the community and outlined later on.
That being said, we’re still open to discussing all of these issues. We encourage all of you to join us for the community call if you think we’re missing something.