With the aim of further decentralizing Arbitrum governance, this proposal suggests we delegate, not grant, 1.82m ARB to the public access voter block Event Horizon, revocable at any time. Delegating to a community of governance-interested individuals helps decentralize the Arbitrum governance process, increase participation and broaden our pool of thought capital.
To support this initiative, rather than request funding, the Event Horizon team has offered a $3,000 ETH grant to reimburse the gas cost Arbitrum community members spend to mint voter access passes
In light of the recent contentious BanklessDAO proposal which involved asking the Arbitrum community for 1.82m ARB, now is a good time to contrast for-profit proposal offers with no-cost, community-first modes of bolstering the health of the Arbitrum ecosystem.
Compare BanklessDAO’s expensive proposal with the approach Uniswap has recently taken. Uniswap governance passed a proposal that delegates to small, but active, delegates. 7 delegates received a delegation of 10m UNI to continue their work as active, but under-weight delegates. A similar measure can be taken to decentralize Arbitrum governance by delegating to the Event Horizon community.
Implicit Delegation is a model by which the full public governance block mobilizes in favor of the consensus of those who do vote, thereby implicitly delegating the authority of those who don’t vote. Ideologically, implicit delegation represents an effort to shift the paradigm around means of influence from entirely capital-centric to, at least in part, participation-centric.
Where Direct Governance allocates influence along the lines of capital, and Explicit Delegation allocates influence along the lines of popularity (which often reflect capital), Implicit Delegation places emphasis on active participation agnostic of monetary access.
Anyone can mint a free Voter Pass which allows them to mobilize those DAO tokens to vote on supported DAO Snapshots such as Uniswap, and Aave. Since all the DAO tokens are mobilized every time, those who do show up to vote via Event Horizon have historically received up to 1300x vote multiples on their Voter Pass cost to mint.
Through these means, the system rewards participation, not capital. And, while we recognize a full shift toward implicit delegation would represent a sizeable change to Arbitrum’s current delegation structure which maintains a spectrum of its own benefits and assurances, we believe that a small allocation toward public access governance would serve to benefit the community greatly, with no compromise to the current structure. Consider the Event Horizon public-access block another delegate amongst the many talented delegates currently building the protocol.
Benefits of a public access, implicit delegation block:
Increased Participation: One of the greatest barriers to participation is lack of voice as a result of lack of capital. When voice is a direct facet of capital, the vast majority of community members simply lack the means to have an impactful say under any conditions. If one has $500 of arbitrum today, their vote is effectively meaningless. Through implicit delegation, capital is only one variable which can then be multiplied by your greater willingness to participate relative to the broader community. If general turnout is low, implicit delegation would afford a very sizable multiple to a voter previously relegated to $500 in authority. This is a direct result of their initiative.
Zero-Cost Voting Participation Incentives: Contrary to most other modes of encouraging participation, Implicit Delegation operates with balances to promote turnout without requiring airdrops or monetary incentives. rewards participation most when existing turnout is lowest, the multiple afforded to those who show up increases. Voters are empowered with the ability to mobilize a larger slice of the pool.
Added Thought Capital: in line with the notion above, there are likely hundreds, or thousands, of community members who fit the character type above, each holding both strong ideas and valuable contributions for the ecosystem, but simply lack enough voice to justify participation. Through Implicit Delegation, a community member with hundreds of dollars of ARB could mobilize (tens of) thousands of dollars of authority have their ideas presented and shared. Through this, the total accessible pool of talent, ideation, and evolution expands greatly.
This proposal reflects several of Arbitrum’s core mission values:
Socially Inclusive: By constructing a dedicated block of governance authority with lower capital barriers, our community greatly expands the net of governance inclusion.
Neutral and Open: By making the thoughts and ideas of this broader swath of individuals heard, we further broaden the spectrum of possibilities for the evolution of our ecosystem.
The Event Horizon Community has already processed >20 meta-governance proposals for both Uniswap and AAVE. The process is as follows:
- Duplication: Event Horizon Automatically copies proposals published on the Snapshot of included DAOs, in this case Arbitrum, into its meta-governance dashboard: EventHorizon.vote/vote
- Meta-Governance: The Event Horizon voter pass holders conduct a meta-layer vote to assess the community’s desired base-layer proposal outcome. NOTE: voter passes are free to mint and the Event Horizon will subsidize the gas cost for Arbitrum community members. EventHorizon.vote/mint
- Base-Layer Voting: The Event Horizon community wallet votes in favor of the desired outcome determined by the pass holders.
Number of Meta-Proposals Passed: 25
Our community members have participated in and passed 25 meta-governance proposals, each corresponding to Uniswap or AAVE base layer proposals.
Voter Participation: >30%
Over thirty percent of our community members have participated in our meta-governance proposals. Some participants have voted as many as 12 times in under 2 months. Check out the latest info on our leaderboard: EventHorizon.vote/leaderboard
Average Authority Mobilized per Participating Passholder: $17,124 (and counting)
Each participating pass holder has represented an average of just over $17,000 in Uniswap and AAVE authority governance authority across all meta-governance proposals passed.
Average Authority Mobilized Multiple: 5,708x
The average pass holder minted their voter pass for ~$3 in gas. When compared to the $17,124 in average authority mobilized, each member has mobilized over 5,708x their gas cost of admission in blue-chip governance authority.
The only step to implementation would be the delegation of 1.82m ARB to EventHorizonCommunity.eth ( 0xc0DdBAAeed6fC3E2f4f4Efa5778383B0E356621E ). Again, simply consider the Event Horizon public-access block another delegate amongst the many talented delegates currently building the protocol.
- Start: Effective immediately
- Revocation: Delegation revocable at will upon community revocation proposal
$0 (-$3,000). The Event Horizon community is requesting no grant funding for this initiative and is instead offering $3,000 in gas reimbursements for those who would like to participate.