Proposal: AIP-1.2 - Foundation and DAO Governance

Proposals Finalized AIPs
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Arbitrum is feature with low fee and lighting speed transation

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yeah

for sure , so what up ?

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thank @eli_defi

Capture d’écran 2023-06-08 à 15.35.21
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1 Like
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I think that’s a good proposition

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love this proposal from arbitrum

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I love dao mainly of arbitrum

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The main purpose of this proposal is to remove the reference to AIP-1 whose approval was declined. In addition, the proposal intends to make amendments to the constitution, bylaws, Amended & Restated Memorandum & Articles of Association (A&R M&R).

As ITU Blockchain Delegation team, we outlined the proposed amendments and their summary for AIP-1.2, which included key governance aspects.

AIP-1.2 has significant adjustments in it. Let’s take a look,

Proposed Amendments to Constitution include these facts :

  • References to AIP-1 will be removed, except for the moment the original Constitution became effective. We are in favor of this because AIP 1 was rejected by the community.
  • It will be explicitly stated that proposals to amend the Arbitrum Foundation’s A&R M&A and Bylaws must be in the form of a Constitutional AIP.
  • The DAO will have the ability to initiate a Non-Constitutional Funding AIP related to the Administrative Budget Wallet. It is vital for DAO to organize the budget effectively.
  • The threshold number of Votable Tokens required for an AIP to be posted on-chain will be reduced from 5,000,000 $ARB to 1,000,000 $ARB. This will be helpful for receiving more improvements because the lower the threshold number of tokens needed, the more people can contribute to the decentralization of the DAO.
  • A new Section 5 will be added, detailing the Data Availability Committee, including processes for removing and appointing committee members. These changes make it more transparent to process.

Bylaws Amendments:

  • As we mentioned before, references to AIP-1 will be eliminated.
  • The definition of the “Administrative Budget Wallet” will be clarified to include all assets contributed to or acquired by the wallet, specifically, those approved by the ArbitrumDAO.
  • The term “Special Grants” will be replaced with the concept of promoting Arbitrum ecosystem growth. Special grants enable the Foundation to manage some finances without the consent of the DAO. Hence, the removal of the “Special grants” enables DAO to regulate the budget properly.
  • The term “AIP Threshold” will be removed as it is not used elsewhere in the Bylaws.
  • It will be explicitly stated that the ArbitrumDAO has the authority to replace directors of The Arbitrum Foundation, modify the number of directors, and require specific actions from the foundation.

A&R M&A Amendments:

  • References to AIP-1 will be removed.

Based on the reasons outlined above, these facts have significant benefits for the governance process. We appreciate the Arbitrum Foundation’s engagement in forums and consideration of feedback. Therefore, we are in favor of this proposal and vote “for”.

The flood we posted for AIP 1.1 and AIP 1.2 during the Snapshot vote: https://twitter.com/itublockchain/status/1648989259712348160?s=46&t=hGD89a6tl7pW8rFWA7BnNw

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