Ethereum Protocol Attackathon Sponsorship
After consideration, the @SEEDgov delegation has decided to vote “(1st) Abstain, (2nd) Against, (3rd) Panda Partners, (4th) Unicorn Partners” on this proposal at the Snapshot vote.
Rationale
While we generally support initiatives of this nature, as they contribute positively to the ecosystem, our experience reviewing multiple event sponsorship requests in the Domain Allocator by Questbook prompts us to seek additional budgetary details. The claim that the funding goal is up to $2 million requires further clarification.
Additionally, despite mentioning marketing integrations, we observed no dedicated workshop or side event for the sponsor. This is a common practice we typically require when approving grants in Questbook, and it would be beneficial to include such an offering in this proposal.
Extend Delay on L2Time Lock
After consideration, the @SEEDgov delegation has decided to vote “FOR” on this proposal at the Snapshot vote.
Rationale
We value the framework developed by L2BEAT as a guide for this initiative and recognize the necessity of this update for two key reasons:
- Extending the window for users to exit the network in the event of an unwanted update is ethically sound and enhances the confidence of those looking to invest their capital in Arbitrum.
- Providing the Security Council with additional time to address potentially malicious proposals is, without question, a prudent measure. We believe this approach reinforces the principle that security is always the top priority.
STIP-Bridge Operational Budget
After consideration, the @SEEDgov delegation has decided to “ABSTAIN” on this proposal at the Snapshot vote.
Rationale
Given our financial involvement in the proposal, our policy in such cases is to abstain, as we believe this approach is both morally and ethically correct.
[Replace Oversight Committee with MSS] Delegate to Voter Enfranchisement Pool — Event Horizon
After consideration, the @SEEDgov delegation has decided to “FOR” on this proposal at the Snapshot vote.
Rationale
Regardless of the outcome at Tally, it seems reasonable for the control of the ARBs to transfer to the MSS, as was agreed upon at its formation. Additionally, this transfer would result in significant savings in administrative costs.
Delegate to Voter Enfranchisement Pool — Event Horizon (Tally vote)
After consideration, the @SEEDgov delegation has decided to “FOR” on this proposal at the Tally vote.
Rationale
Although we are maintaining our favorable vote on this occasion and had already provided a rationale for our vote in Snapshot, considering the time gap between one vote and another, we felt it was worthwhile to reaffirm our position on this proposal.
Since the amount to be delegated barely represents 7% of the quorum needed for an on-chain proposal and there are oversight mechanisms in place by the DAO (the MSS), we see the proposal as a controlled experiment.
On the other hand, in the early stages of SEEDLatam (now SEEDGov) we ran a similar experiment with delegations over a year and a half, (which you can view here) making it particularly interesting for us to observe the outcome of this initiative.
ArbitrumDAO Procurement Committee Phase II
After consideration, the @SEEDgov delegation has decided to “Yes - Extend” on this proposal at the Snapshot vote.
Rationale
Initially, we had reservations about whether to support the initiative, particularly considering the broad scope, the allocated budget, and the ongoing discussion regarding the re-election of committee members.
In this case, we align with @JoJo’s view that it is premature to rotate these positions after only six months—a shortcoming in the original proposal. We hope to see an annual initiative developed to provide greater predictability and more time to assess the committee’s results.
That said, we choose to extend a vote of confidence to the committee, as we appreciate the work accomplished thus far.
Synthetix and Pyth LTIPP Grant Extension Request
After consideration, the @SEEDgov delegation has decided to vote “AGAINST” on both proposals at the Snapshot vote / Snapshot vote 2.
Rationale
Unfortunately, while we understand the reasons for the delays in both cases, we share several concerns with the other delegates that prevent us from supporting these requests:
- The incentives detox was approved by the DAO, and allowing the distribution of incentives during this period would contradict the essence of this social agreement. We believe it would also set a problematic precedent for future agreements.
- Voting on extensions individually is impractical for the DAO and risks overburdening delegates. In our view, a blanket extension would be more appropriate
- Additionally, granting an extension at this stage presents a competitive disadvantage to those who no longer have incentives to distribute or already returned unused ARB from LTIPP.
We hope that in the future there will be longer programs or a streamlined mechanism in place to resolve this kind of friction.
Enhancing Multichain Governance: Upgrading RARI Governance Token on Arbitrum
After consideration, the @SEEDgov delegation has decided to vote “FOR” on this proposal at the Snapshot vote.
Rationale
We see no reason not to support this proposal given that it is costless and beneficial for the Arbitrum ecosystem. Agree with @Castlecapital on the need for a standardized process for this kind of migration.
Fund the Stylus Sprint
After consideration, the @SEEDgov delegation has decided to vote “FOR” on this proposal at the Snapshot vote.
Rationale
SEEDGov views the proposed initiative as generally well-structured, and we welcome the integration of Questbook, alongside the commendably low operational costs.
However, we believe that the suggested maximum ARB allocation for individual applicants is excessive. Allowing a single applicant to receive up to 20% of the total budget (1M out of 5M ARB) seems unfeasible. We recommend capping the maximum allocation at 10% of the overall budget.
Furthermore, as mentioned by @BlockworksResearch, we would like to underscore the importance of the reporting outlined in the proposal. We hope that established communication channels, such as the ‘Arbitrum Reporting Governance Call,’ will be utilized to enhance the dissemination of these reports.
[Aave DAO] LTIPP Grant Extension Request
After consideration, the @SEEDgov delegation has decided to vote “AGAINST” on this proposal at the Snapshot vote.
Rationale
Unfortunately, while we understand the reasons for the delay, we share several concerns with the other delegates that prevent us from supporting these requests:
- The incentives detox was approved by the DAO, and allowing the distribution of incentives during this period would contradict the essence of this social agreement. We believe it would also set a problematic precedent for future agreements.
- Voting on extensions individually is impractical for the DAO and risks overburdening delegates. In our view, a blanket extension would be more appropriate
- Additionally, granting an extension at this stage presents a competitive disadvantage to those who no longer have incentives to distribute or already returned unused ARB from LTIPP.
Proposal to adopt Timeboost, a new transaction ordering policy
After consideration, the @SEEDgov delegation has decided to vote “Collect bids in ETH to the treasury” on this proposal at the Snapshot vote.
Rationale
In the first instance, we welcome the socialisation with the DAO of the gains of those who capture MEV without creating changes to the user experience.
However, having read ARDC’s comparison of Timeboost to other transaction ordering policies, and ARDC’s risk analysis of Timeboost, we would like to highlight the importance of post-implementation monitoring. Without reporting, the DAO will lack the necessary tools to be able to follow the outcome and drive changes in the pre-established parameters. Just to give an example, the -reservePrice- parameter can be modified to avoid collusion at the auction stage, without active monitoring of bids it will be difficult for the DAO to mitigate these risks in a timely manner.
Finally, we agree with @WintermuteGovernance:
This option gives the possibility to decide in the future what to do with the revenue coming from Timeboost and since there are currently active discussions on Treasury Management/Diversification as well as a working group on ARB Staking has been created, we believe it is best to decide the fate of this revenue flow in the context of these two verticals.
Terms of Tenure for STEP Program Manager
After consideration, the @SEEDgov delegation has decided to vote “Additional funds for one year” on this proposal at the Snapshot vote.
Rationale
We recognise the tremendous effort it has taken to manage this proposal and that is why we see no point in going any other way than to honour the agreement and pay Steakhouse for the whole year. It would even be a dangerous precedent to take any other decision, as we would be sending the message to service providers that the volatility of ARB and the difficulties in converting it to stables that we face could somehow alter the agreement reached with the DAO.
For all these reasons, it is reasonable to use part of the yield obtained to cover the corresponding annual payment.
ArbitrumDAO Off-site
After consideration, the @SEEDgov delegation has decided to vote “Drop idea and do nothing, Abstain, Online event, IRL/conference/no scholarships, IRL/conference/scholarships, IRL/separate/no scholarships, IRL/separate/scholarships” in that order on this proposal at the Snapshot vote.
Rationale
While we normally support this kind of initiatives, in this particular case we believe that there is a considerable potential overlap with the GovHack Devcon in Bangkok - Hack Humanity proposal and if we had to choose between both options, we would opt for the latter given that there are already positive precedents such as Brussels or Denver.
Having said that, it is worth mentioning that the offsites are contemplated in the proposal Establishing a DAO Events Budget for 2025 so it would be interesting that for next year both alternatives are proposed in the framework of this program if it is approved.