STIP-B & Curve Grant Request
After consideration Treasure’s Arbitrum Representative Council (ARC) would like to share the following feedback on the proposal
We believe the whole mechanism of STIP-B is flawed. We don’t think delegates should be expected to do specific analysis of user incentive programs and expected to weigh in on and vote on every proposal. It places too weight on the builders in the ecosystem and detracts from the key activity that will make Arbitrum successful. Moreover, many STIP-B proposals which were submitted late (and thus are auto up for challenge) didn’t receive a timely review and feedback from the ARDC, so are being assessed by delegates without those important insights. We believe the DAO needs to stand up a professional, well funded structure which will oversee, refine and promote best practices for user incentives program on an ongoing basis (similar to OpCo or GCP). This will allow the DAO to get a far better ROI on it’s investments, and give delegates time back to focus on making their projects, and thus Arbitrum, a success.
Our vote was aligned with this perspective, in that it expressed a desire for an improved system (Abstain) OR voted Against projects which we believe were not suitable for further funding.
We have great admiration for many of the projects who put forward applications, and know this voting decision will be a disappointment to some. That’s why we want to make clear we still support user incentives generally, but wish to do so under an improved system. We believe this in the best interest of Arbitrum DAO.
| Proposal* | Voting Decision** |
|---|---|
| Grant Request - Curve Finance | Abstain |
| MUX Protocol | Abstain |
| Dolomite | Abstain |
| Sanko GameCorp | Abstain |
| Thetanuts Finance | Abstain |
| Umami Finance | Abstain |
| KyberSwap | Abstain |
| Stargate | Abstain |
| Stake | Against |
| Angle DAO | Against |
| OpenOcean | Against |
| Socket Bridge | Against |
| Savvy DAO | Abstain |
| Thales Protocol | Against |
| Boost | Against |
| Gains Network | Against |
| Furucombo | Against |
| Solv | Abstain |
| Tide | Abstain |
*We have included our voting decision for “Grant Request for Curve Finance” in this rationale because our reasoning for voting on this proposal is the same as our rational for STIP-B Proposals.
** In some instances our vote did not successfully execute on Snapshot/Tally. This is due to a bug with the Zodiac/Hats mod. We have detailed our intended voting outcome here.