Uniswap-Arbitrum Delegate Program (UADP) Communication Thread

ArbitrumHub Evolution: The Next Step in Streamlining Information Access and Raising Awareness for Arbitrum DAO

Vote: Against
Type: Snapshot

Generally, this vote was a bit too much to ask for for us to say yes to this. The idea of a hub and the new ideas presented is great, but the half a million dollar budget is way too much. Additionally, other stuff is a bit too high budget wise, however we would be supportive in a potential reworking of this proposal.

AIP: BoLD - permissionless validation for Arbitrum ; AIP: Funds to bootstrap the first BoLD validator - Bond sentiment ; AIP: Funds to bootstrap the first BoLD validator - Operational cost sentiment.

Vote: For all three

Type: Snapshot

We voted For all three of the BOLD proposals because they mark a crucial evolution for Arbitrum, significantly boosting the network’s security and decentralization.

AIP: BoLD - permissionless validation for Arbitrum:

Introducing permissionless validation allows any honest participant to help defend the network, thereby reducing our reliance on a small group of validators. This is pivotal in mitigating delay attack risks and ensuring faster, more secure dispute resolutions, aligning with best practices in optimistic rollup protocols.

However, the high bond requirements could create a barrier for smaller participants–but the Economics paper outlines that “bond sizes be high enough to discourage challenges from ever being opened at all, as evil parties will always stand to lose when playing the game” which in our opinion is a good incentive-based justification. The complexity of the dispute resolution process and the need for extensive off-chain computation could introduce operational challenges. Balancing bond costs and preventing spam while ensuring sufficient participation and security is a complex economic issue that requires careful adjustment.

AIP: Funds to bootstrap the first BoLD validator - Bond sentiment & AIP: Funds to bootstrap the first BoLD validator - Operational cost sentiment.

We voted For these two proposals as well. There needs to be an aligned actor to ensure that this system works with integrity, and having the serving as the first one makes a lot of sense. We also appreciate the checks and balances approach being taken by the Foundation: “The ArbitrumDAO will have the authority to single-handedly return the funds to the ArbitrumDAO treasury by revoking the Arbitrum Foundation’s proposer at any time and returning the bonds back to the treasury.” The operational cost, 500 ETH for service fees and 400 ETH for L1 gas costs, seem fairly earmarked but perhaps a bit high. Since the AF will not be entitled to any service fees, that helps with potentially receiving more back after the 3 year period. It’s better to have a larger buffer in place anyways.

[NON-CONSTITUTIONAL] Pilot Phase: Arbitrum Ventures Initiative

Vote: Abstain

Type: Snapshot

Our team is generally in favor of the recent expansions that the DAO has made into more traditional styles of investment and ecosystem development. While most DAO’s are still relegated to grant programs, profit-driven initiatives like this are a good exploitative path for the DAO to take. We do, however, voice a degree of caution to the DAO with approving too many programs too quickly without enough inspection of the efficacy of these initiatives. Yes, it takes time for multi-month programs to materialize, but it’s important to deliberately approach utilization of the treasury. The recent investment into gaming is the most salient case of this.

The Areta team has already been pushing forward with their research on the M&A front as well, which as many have mentioned, could involve some overlap in responsibilities. Since this proposal seems to be passing the Snapshot, we’d like to highlight that Areta has also done a great job of aggregating community feedback over the past couple of months, all done prior to their official proposal asking for funding from the DAO. This care for the opinions and perspectives of the DAO is vital for pushing forward a novel initiative such as this one–we would like the AVI to adopt a similar communication standard.

The reason why we are abstaining on this proposal is largely because our team wants to see what the M&A group’s research yields over the next couple of weeks/months. Since there is a degree of overlap in terms of scope, a finalized deliverable from the M&A team’s research will help us understand how the AVI should function. This seems like a more complementary approach between the various initiatives.

Election of STEP Program Manager

Vote: ⅓ Steakhouse, Avantgarde, Particilia

Type: Snapshot

We split our votes three ways between the above entities. Steakhouse and Avantgarde have a strong reputation in the space and good track record with other DAOs. Due to our familiarity with them, we are equally giving them ⅔ of our votes. The group that we had the least familiarity with was Particula, but after reviewing their application and reading their previous deliverables like the Ondo review, we believe that they are qualified to be the manager of this program as well–so we gave them the other third.

Note: one of our members has a COI with Steakhouse and has therefore not been involved in this vote.

Pilot Stage – Treasury Backed Vaults research and development (Snapshot)

Vote: Against

Type: Snapshot

We voted against this proposal since more thought needs to be put behind the collateralization of native tokens directly from the DAO’s treasury. This is especially the case when the native token is incredibly volatile and subject to severe downside beta. Recent approvals of initiatives that have the potential of largely suppressing ARB price furthers this concern. The dormant, unissued ARB tokens in the treasury are effectively acting as a way to bail out the given loans in the event of a downward spiral. Of course this depends on how much ARB is placed in the savior module. I’d assume it’s relatively high since the DAO doesn’t want to face a liquidation and would rather bear the brunt of fronting more and more capital in the short term. An infinite line of credit, ie the treasury, tends to blind us from the risks–until the LOI begins to run dry. This is a dangerous setup. Hence, from a risk-adjusted perspective, we don’t believe that moving forward with this proposal is prudent.

That isn’t to say that this proposal is not interesting–it certainly is something we’d like to see researched. We look forward to seeing a more fleshed out proposal from the team and the ARDC considering a handful of these risks and other points of feedback from the DAO. The teams need to solidify what sorts of risks the DAO is subject to if we were to proceed. We would suggest first outlining the perspective that the DAO comes from in relation to the native token. Do we want to collateralize ARB in the first place? And how willing are we to top up a loan to prevent liquidation?

[Non-Constitutional] Betting on Builders: Infinite Launchpad Proposal

Vote: Abstain

Type: Snapshot

We abstained from this proposal. We are in support of this type of idea. A supplement to grant programs is important especially if the DAO wishes to begin focusing more on ROI. That’s what the AVI proposal also aims to facilitate. However, the overhead cost of this proposal is too large for our liking. This aspect makes up a disproportionately large percentage of the total ask. For the sake of using capital more efficiently, we believe that the group should aim to be as lean as possible, or simply start out with a smaller scope. A pilot program would help show that DAO that progress is being made, and it would further clarify the specific costs needed to run this program at a larger scale. As we have mentioned in the AVI proposal, a step-by-step approach tends to fare better with delegates. Continually showing the DAO progress with empirical data is helpful in justifying the expenditure of millions of ARB.

If this proposal can be broken down into more distinct steps and milestones–and perhaps even reduce the number of entities involved as that should decrease the opex–then we’d be willing to revisit it. Again, the idea is good, but the roadmap needs further clarity. A piecemeal approach with continual display of deliverables will give us further confidence in this group’s ability to execute.

Kwenta x Perennial: Arbitrum Onboarding Incentives

Vote: For

Type: On Chain

Although we stated that “We’d rather have Kwenta show that they can compete in the highly competitive perps market on Arbitrum first–then apply for this type of grant once there’s an RFP process, like the STIP or LTIPP, that’s created to deliver what Kwenta is requesting.”, we do understand the case for why this incentive grant can be beneficial for Arbiturm. If we had to pick between funding vs not funding this, we would vote to fund.

1 Like

Multisig Support Service (MSS) Elections

Vote: PGov, StableLab, Alex Lumley
Type: Snapshot

We have voted for these three members that we thought were fit for the role and have been very involved in discussions following up and during the voting process. Three votes was such that each vote made a decent impact on the results.

Approval of STEP committee recommendations

Vote: For
Type: Snapshot

We have no complaints regarding these recommendations and feel the team should have more leeway in the future when deciding these. Not sure if a snapshot vote is needed to approve this, however the updates to the DAO are much welcomed.

[Non-Constitutional] - Subsidy Fund Proposal from the ADPC

Vote: For
Type: On Chain

In similar reasoning to our snapshot vote, we are in favor for this subsidy fund proposal

[NON-CONSTITUTIONAL] Pilot Phase: Arbitrum Ventures Initiative

Vote: For
Type: On Chain

In similar reasoning to our snapshot vote, in addition to more clarity on reporting and a relatively smaller budget, we are in favor of the pilot phase for this proposal.

Improving Predictability in Arbitrum DAO’s Operations

Vote: Improving Predictability, Abstain, Against, Predictability, Approval Process
Type: Snapshot

We are a fan of the calendar idea, but do not think the delegate approval idea of 4 large delegates to give their stamp of approval before moving to snapshot is the most effective way in going about future operations.

Pilot for a Questbook Jumpstart fund for problem definition and DAO improvement

Vote: Abstain
Type: Snapshot

We understand the desire for there to be a more effective process behind incentivizing groups to create proposals. It’s unfortunate when an idea is put forth, that took numerous weeks or even months to iterate, and ends up being rejected, leading to no monetary compensation for such efforts. But compensating people to work on proposals without a clear way to measure success is a tricky task. Typically, the success metric is if the proposal passes or fails a vote. This also presents an additional adverse incentive for people to work on projects without having an explicit goal of seeing it through all the way to a successful onchain vote.

It’s often the case that the rejection of a proposal is emblematic of other issues. For instance, a proposal may be proposed at the wrong time–the DAO may not be mature enough to handle a given task. A proposal may simply not be unrealistic or overly ambitious. For example, the M&A initiative could’ve failed a vote even though it took months of effort to curate. Therefore, @Bernard & co. proposed to conduct a research initiative as a precursor to deploying funds. They overcame the funding issue by narrowing the scope from implementation to research. They also worked with the community, conducting numerous calls and reports. Same goes for the ventures initiative. In other words, if a proposal fails, it’s usually because the prosper presented something that is not right for the DAO, or the proposer simply didn’t work intimately enough with the community. If these aspects aren’t completed, then there shouldn’t be compensation.

All this being said, we do think some sort of bounty system could be present for accomplishing certain tasks. Therefore, we are voting abstain for this proposal. There is likely a better way of addressing the given problem statement. The DAO consistently has aspects that need to be developed, and much of the talent faces the cold start problem of even starting the research. Optimism is perhaps a decent DAO to look at regarding smaller scope missions.

Gaming Catalyst Program (GCP) Council Voting

Vote: Coinflipcanada, Devan, Greg, Sam
Type: Snapshot

We divided out voting power evenly among the following four candidates, aiming to allocate evenly across those who have proven to be strong representatives for Arb DAO and individuals who have gaming industry experience. coinflipcanada has demonstrated his valuable contributions in both the LTIPP and GCP processes. thedevanshmehta has been instrumental in leading the STEP initiative for diversifying the DAO’s treasury into RWAs. Greg (JamesLawton) has an impressive background in the gaming world, having worked for Sony, Xbox, and Activision–and is now in blockchain gaming. sam has a strong background in the marketing and growth sector of the gaming world, having recently worked on global marketing campaigns for games like Overwatch.

Entropy Advisors: Exclusively Working With Arbitrum DAO

Vote: For
Type: Snapshot

We are voting For this proposal due to the need for DAOs, especially those behind an entire ecosystem of applications, to invest more time and capital in operations. Entropy’s leading team has a strong track record in working with DAOs and conducting intimate due diligence on various protocols. At the end of the day, if Entropy can help minimize net costs, including the costs paid out to Entropy, then this partnership is a net positive. Full-time contributions to a DAO are not very common, and there will likely be a need for more immersed individuals contributing to DAOs–especially if the DAO would like to over time become less reliant on a singular Foundation. We’re curious to see if this proposal prompts similar teams to apply for such partnerships. Exclusivity to a particular DAO is also uncommon. Many paid contributors aren’t able to run their businesses if they don’t have diversity across numerous ecosystems–which could create incentive misalignment.

There are aspects of the proposal that we have reservations regarding, however. The list of previous proposals that the team has proposed assumedly took three people maximum to conduct. A team of 10 people does sound a bit overkill. Employees are expensive to manage. Perhaps it’s better to hire 2-3 new people, perhaps focused more on the technical and data analytics side. That would round out the team pretty well, while prioritizing quality over quantity. Specialized expertise can be consulted on an ad-hoc basis, and the Entropy team can always leverage the Arb community for attaining opinions and perspectives on certain proposals. This lean setup would potentially cut some of the overhead. The whole legal, tax, etc side of this proposal is currently one of the justifications for the large budget. It’s questionable if the DAO should be covering these entity formation and overhead costs.

Furucombo’s Misuse of Funds

Vote: FOR - Ban Furucombo from the Arb
Type: Snapshot

We voted to ban Furucombo. If a project receives tens of thousands of dollars from the DAO, there is no reason for unsatisfactory comms and reporting. The STIP bridge itself was rejected due to Furucombo’s lack of reporting. The sheer amount of time it took for the team to respond to this request demonstrates a lack of decorum. Even if the team isn’t officially banned, they’ll struggle to attain funding from the DAO in the future due to reputation issues. Instituting an official ban should disincentivize other teams from committing similar infringements. We agree with other delegates that there should be a more clear means by which the AF/ DAO hold entities responsible.

Change Arbitrum Expansion Program to allow deployments of new Orbit chains on any blockchain

Vote: FOR - Any blockchain network
Type: Snapshot

We are in support of expanding the deployment of Orbit chains to alternative networks. This is an opportunity for Arbitrum to increase its presence on numerous other ecosystems, while simultaneously attaining more sources of revenue. The success of a couple of these new Orbit chains could amount to decent inflows–although this is currently a premature assumption.

Yes, Arbitrum is Eth-aligned, but broadening the use of Orbit does not necessarily cannibalize the success of the EVM. It’s not like restricting Orbit development to Eth is materially increasing the competitive moat for Ethereum. The signaling here is simply that using Arbitrum’s technology is a ubiquitous resource, regardless where you decide to build–and for using this framework, you pay Arbitrum a cut. Such openness is the case with various other competitors. If the magnitude of pull that Orbit technology had towards drawing builders to Ethereum, then this would be a different conversation. As it currently stands, the impact Orbit has in terms of bringing value to Ethereum is not significant enough to justify forgoing development on alternative networks. We stand by this perspective as long as the Arb Foundation doesn’t largely divert their attention and resources to helping devs spin up Orbit chains on other networks. If the overhead related to expansion is too large, which the AF should be transparent about, then the DAO should revisit this topic.

[Non-constitutional] Incentives Detox Proposal

Vote: FOR
Type: Snapshot

The UADP is in favor of this. There has been a massive influx of ARB into the circulating supply due to all of the recent governance proposals creating unprecedented sell pressure. This should help put a temporary pause and reanalysis to some of this.

Arbitrum Multi-sig Support Service (MSS)

Vote: For
Type: On Chain

In similar reasoning to our snapshot vote, this will be good for decreasing future DAO spending

[Constitutional] ArbOS 31 “Bianca” (Stylus, RIP-7212 Support, Nova Fee Router)

Vote: For
Type: On Chain

In similar reasoning to our snapshot vote, we are in favor of these network upgrade proposals

Entropy Advisors: Exclusively Working With Arbitrum DAO

Vote: For
Type: On Chain

In similar reasoning to our snapshot vote, Entropy has proven itself and will be very valuable for the DAO.

Funds to bootstrap the first BoLD validator

Vote: For
Type: On Chain

In similar reasoning to our snapshot vote, this is necessary to bootstrap the first BoLD validator. Although a little steep, this is something we think needs to happen and should be a priority.

ARB Staking: Unlock ARB Utility and Align Governance

Vote: For
Type: On Chain
In similar reasoning to our snapshot vote, we look forward to staking being finally activated!

Delegate to Voter Enfranchisement Pool — Event Horizon

Vote: Abstain
Type: On Chain

We are in favor of the proposal as a whole still, just given the incorrect submission window, we will be voting our support in the future vote when it is submitted correctly.

Ethereum Protocol Attackathon Sponsorship

Vote: Against, Abstain, Panda, Unicorn
Type: Snapshot

The only thing that came from this that we think was ultimately appealing was the audit sections and clause. However, given that the nature of this is an ethereum protocol Attackathon sponsorship, we think if we wanted to fund and pay for an audit, there should be an appropriate RFC and subsequent discussions around that. In its current form, this isn’t the most appealing to us and we think will have marginal benefits to the DAO, not enough to justify the costs.

ARB Staking: Unlock ARB Utility and Align Governance

Vote: FOR
Type: Snapshot

We voted For this proposal in both the snapshot and onchain phases.

Our team has been monitoring the continual iterations of this proposal by intaking delegates’ feedback, and it has been great to see the progress towards a more conclusive structure.

After the introduction of the unistaker concept, it’s exciting to see the possibilities that can be implemented for introducing some degree of value behind “mere governance tokens”. The initial idea to distribute surplus sequencer fees to stakers is of course difficult since the operating revenue for the DAO is currently limited, and it is an important revenue management decision to consider where and how this capital should be used. We are interested in seeing the new working groups’ research regarding how capital should be directed to stakers. It seems unlikely that the DAO will be able to sustain decent enough yield to stakers from sequencer fees alone. The recent proposal by Karpatkey and Aera regarding “diversifying” the treasury into stables and yield bearing assets would be an interesting way to potentially divert some of this non-operating revenue to stakers. Again, this is a revenue management decision. It could be the case that incorporating this staking setup is good enough for now–and we can in the future turn on this, so to speak, fee switch and begin issuing dividends.

It could also be the case that the yield is turned on for a period of time, like issuing a dividend during a period where we have excess revenue. However, this is difficult since whenever a company issues dividends, investors expect an indefinite dividend. Turning on fees to stakers could also be something that’s implemented during times where we need the price of ARB to perhaps increase to a particular threshold in order to preserve the severity of the treasury. As mentioned, the likelihood and incentive towards conducting a governance attack only increases as the treasury balance sheet is full of more and more non-native tokens.

Deciding who will be eligible for the yield is also a very difficult problem due to the subjectivity surrounding assessment results from groups like Karma. We look forward to seeing the research surrounding this as well.

Overall, this staked governance token setup is very promising in increasing the attractiveness of holding these tokens. I’m sure many large DAOs have seen this and are now contemplating similar practices.

Transparency and Standardized Metrics for Orbit Chains

Vote: Against
Type: Snapshot

We decided to vote against this proposal since we feel that other data providers will be willing to provide this data without the DAO having to expend funds. To prevent the DAO from spending on initiatives that have a high degree of overlap, this does not yet make much sense. As the Orbit ecosystem expands and as the chain begins to differentiate, it may be worthwhile to begin exploring newer dashboards with more specific or chain-dependent metrics. Generalized metrics are well-addressed by teams like L2Beat and DefiLlama. It may also be worth exploring this initiative through a grant program since the cost isn’t very cumbersome.

ArbitrumDAO Governance Analytics Dashboard

Vote: FOR
Type: Snapshot

Our team voted For this proposal. Data points related to governance activity is very much a hit or miss topic. We’ve personally seen a slew of products released over the past three years regarding this subject matter. Most of them have since been deprecated because nobody wants to pay for these services. The frequency with which delegates review these statistics also varies. They only review such information when conducting a report or review, which means such data only needs to be queried on a periodic basis. That being said, all of this also hinges on one important point: the type of DAO these metrics are being provided for. Dapps usually have smaller delegate bases and therefore don’t need complex datapoints. Most info can be inferred, and the stats are often statistically insignificant. However, with regards to an ecosystem like Arbitrum, we aren’t just dealing with a dapp. There are numerous delegates, lots of votes, various perspectives, and decent dispersion in voting power. The entry for Arb DAO is also lower relative to many other DAOs, so these dashboards are helpful for new folks. To those ends, we are voting For this proposal.

Should the DAO Default to using Shielded Voting for Snapshot Votes?

Vote: Against
Type: Snapshot

We voted against this proposal since we see benefit in being able to see what others are deciding to vote for. Shielding votes during the voting period also means some discourse in the public forums may be suppressed. It’s important to view others’ opinions on proposals. It helps decision makers review their presumptions and question why votes are teetering towards one direction or another. Sure, there can be a bandwagon effect, but the value of signaling in our opinion shouldn’t be understated. For proposals that may see a high degree of contention, we could on an ad hoc basis run shielded elections–but the reason for doing so should be outlined on the forums before moving to a snapshot vote. We do see how shielding elections, however, can be beneficial. But for us to be comfortable with shielded elections, we need assurance that there are more robust systems and agreements around self-voting and COI.

Proposal to Temporary Extend Delegate Incentive System.

Vote: For
Type: Snapshot

We voted For this proposal since extending this program by two months would be nice to maintain the momentum that’s been built with the increased level of incentivized delegate involvement. For this program, and for other programs, it’s important to consider buffer periods. An initial proposal that’s meant to last 6-months could actually span for 7 months for the sake of a smooth transition to the next iteration of that program. During that 7th month, v2 of a program can be voted on.

ArbitrumDAO Off-site

Vote: For
Type: Snapshot

We are in favor of exploring an off-site for delegates to discuss topics more intricately. This can be a nice supplement to the GovHacks that occurred during Eth conferences. It would be nice to collaborate with Hack Humanity to lay out a schedule to see which topics should be covered–along with discussions around if there should be communities or councils that separately pop up in different geographic locations, discuss topics, and then converge online.

An (EIP-4824 powered) daoURI for the Arbitrum DAO

Vote: For
Type: Against

A go-to source of truth is a great idea. We are in favor of setting up a platform like this. At Uniswap, we’ve had experience with managing a couple of ENS subdomains under Uniswap.eth. This was initially set in place in order to give additional use grants to certain deployers who would request the DAO for the ability to deploy Uniswap v3 contracts onto a new EVM. This was only required while there was a BSL in place. Since April of last year, we continued similar record management to have a source of truth regarding the “real” Uniswap v3 contracts on each of the 23 chains that we’re deployed on. This has helped from a security and standardization standpoint. Therefore, exploring record management such as this for Arbitrum is beneficial as well.

Unfortunately, due to issues surrounding the procedure, we voted against this proposal. We will vote For a revised proposal though.

Strategic Treasury Management on Arbitrum

Vote: Abstain
Type: Snapshot

​​A proposal such as this should have taken place prior to others that pulled significant funds from the treasury, like the gaming catalyst initiative. It doesn’t make much sense to issue such a large quantity of ARB to such a risky program. This proposal, however, is for the sake of “diversifying” the treasury into more stable assets, which is important when it comes to funding various DAO-related initiatives. In order to cover the DAO’s runway, we should be pulling at least some of the funds from a reserve of stable assets, instead of fully issuing ARB tokens. And that leads to another important point—we are issuing ARB tokens here, not really pulling from a massive balance sheet. We might as well discount or write down most of the treasury. With a “diversification” proposal, we actually begin bolstering the balance sheet. It’s already clear that the revenue that the dao makes today has been earmarked for initiatives like bootstrapping BOLD, which means operating revenue isn’t simply enough to cover expenses. We have to therefore rely on issuing native tokens.

The real issue here has been a lack of proper procedure laid out months ago by the DAO for approving large investment programs. One of the unsatisfactory precedents has been the first-come-first-serve model. For many programs, an entity proposing a large program has self-selected themselves into managing that program. This is the primary reason why we are abstaining from this proposal. There should be an RFP process for all of these large treasury management and investment proposals. It’s a reckless argument to suggest that–everyone’s been self-electing themselves, so we’ll do the same.

Since the directionality of this proposal is well-founded, we aren’t voting against this proposal. The main contention that we hold is the process by which the counterparties in the proposal are self-elected. We hold a great deal of respect for Karpatkey and Gauntlet, and they may very well be the managers selected for this type of proposal. But an RFP matters.

Should the DAO Create COI & Self Voting Policies?

Vote: FOR: Responsible Voting Policy
Type: Snapshot

Instituting policies surrounding COI and self-voting is very important. We therefore voted for incorporating the Responsible Voting Policy so that delegates cannot outright vote themselves into particular positions in an unfavorable manner. Every DAO with committees and programs where managers are elected should have a socially-unified system where individuals are held liable for their decisions, even if there isn’t a precise legally enforceable mechanism present.

Delegate to Voter Enfranchisement Pool — Event Horizon

Vote: For
Type: On Chain

We are in favor of the proposal as a whole, and with the new changes, we are in full support.

[Constitutional] Extend Delay on L2Time Lock

Vote: For
Type: Snapshot

This update allows for appropriate timing in case of an upgrade that is unfavorable for people to bridge off chain using the 7 day native bridge. We are in favor.

STIP-Bridge Operational Budget

Vote: For
Type: Snapshot

This vote seems somewhat useless, we are wholly in favor and not totally sure why we are voting again for something governance already approved.

[Replace Oversight Committee with MSS] Delegate to Voter Enfranchisement Pool — Event Horizon

Vote: For
Type: Snapshot

These changes to the multisig are advantageous to the DAO as a whole and we are a fan of the inclusion of the MSS, reducing overall costs.

[Aave DAO] LTIPP Grant Extension Request

Vote: Against
Type: Snapshot

Allowing Aave to come in after all other incentives are allocated on first look doesn’t seem great. Given all of the challenges the team faced technically, this was a harder decision, but seeing the response and appetite of votes, we think this is appropriate.

Constitutional AIP: Proposal to adopt Timeboost, a new transaction ordering policy

Vote: Collect Bids in ETH
Type: Snapshot

This is a great fundamental step forward for the DAO. We think bids should be collected in ETH to allow for a future consistent non-ARB revenue stream for the DAO.

ArbitrumDAO Off-site

Vote: IRL/conference/scholarships, IRL/conference/no scholarships, Online event, IRL/separate/scholarships, IRL/separate/no scholarships, Drop idea and do nothing, Abstain
Type: Snapshot

We are a fan of having a IRL event that is next to a large conference, providing sponsorships when necessary. This should be relatively cost effective. We think the next best is an online event and afterwards, if needed, a separate standalone event could be planned.

Terms of Tenure for STEP program manager

Vote: Additional funds for one year, 6 months from available funds, Liquidation of RWAs and STEP, New election at $86,581 per year, Abstain
Type: Snapshot

We voted for Additional funds for one year, 6 months from available funds, Liquidation of RWAs and STEP, New election at $86,581 per year, Abstain—in that order. Liabilities must be paid in correspondence with the dollar amount elected upon passing of proposals. There is no need to return to ground zero, so the continuation with Steakhouse is prudent.

GovHack Devcon in Bangkok - Hack Humanity

Vote: For
Type: Snapshot

We voted For both the snapshot and the onchain vote here. Generally, we’re more in favor of a long-term, structured approach, as opposed to one where events are planned and paid for ad hoc. However, due to the impending deadline for setting up the event for Devcon, we thought passing this proposal, as was done with Eth CC, was the right move. We are curious to hear further communications from Klaus and team regarding the decision to cancel this proposal.

[Non-Constitutional] Funds to Bolster Foundation’s Strategic Partnerships Budget

Vote: For
Type: Snapshot

With a degree of reluctance, we voted For this proposal. It’s often difficult to say No to such a large stakeholder since the work that they conduct is often critical. The AF plays an instrumental role in facilitating the effective continuation and development of the DAO and protocol. They have numerous existing relationships that cannot be easily outsourced and programs that require sustained funding. In that vein, we do think that the AF should have taken into account the large portion of ARB that is vested. Such budgeting would mean that a liquidity crunch for grants and partnerships would have led to better management and allocation of funds. However, due to NDAs and other variables that lead to a lack of full transparency, it’s hard to tell exactly why such budgeting decisions were made. A future plan should be implemented by the AF to reimburse the DAO at some point using the tokens that eventually vest, as opposed to continuing to grow their expenditure on grants. In other words, we are not seeing this as a growth program—but a temporary solution to liquidity issues.

[Non-Constitutional] Arbitrum DAO Delegate Incentive Program

Vote: FOR - DIP V1.5
Type: Snapshot

Due to the increased participation in voting and engagement on forums as a result of the delegate incentive program, we are directionally in favor of this proposal. V1.5 makes more sense to incorporate over v1.1 since 1.5 attempts to encourage more proactive and natural conversation than 1.1. The old model, to an extent, can feel forced. Our team has sometimes felt this way as well. It is also more valuable for proposers to attain feedback early on before going to a vote. Delegates also change their behavior on forums with the 1.5 setup since they are now actively perusing through open discussions as opposed to solely justifying votes.

[Non-Constitutional] Funds to Bolster Foundation’s Strategic Partnerships Budget

Vote: For
Type: On Chain

We are in favor of this budget, albeit massive, needed for the continuous function of the teams strategies.

ArbitrumDAO strategic “Off-site” (online) updated proposal

Vote: For
Type: On Chain

We are voting in line with our snapshot support; looking forward to this online offsite.

Enhancing Multichain Governance: Upgrading RARI Governance Token on Arbitrum

Vote: For
Type: On Chain

The RARI token being upgraded makes sense and continuing our support.

[Non-Constitutional] Arbitrum DAO Delegate Incentive Program

Vote: For
Type: On Chain

We are voting in line with our snapshot vote, v1.5 should be a much more holistic approach to this topic.

Fund the Stylus Sprint

Vote: For
Type: On Chain

We are in favor of the new team members added to this proposal and are excited to see the success of the Sprint.