Proposal: Double-Down on STIP Successes (STIP-Bridge)
Type: Onchain, closed May 5, 2024
Vote: For
Reasoning: Same as the Snapshot vote: Vertex Delegate Communication Thread - #2 by Vertex_Protocol
Proposal: GovHack at ETH CC (Brussels)
Type: Onchain, closed May 19th, 2024
Vote: For
Reasoning: Same as the Snapshote vote: Vertex Delegate Communication Thread - #9 by Vertex_Protocol
Proposal: Stargate STIP Bridge Challenge
Type: Snapshot, ended May 27, 2024
Vote: Approve Funding
Reasoning: Despite administrative issues causing them to not receive a first STIP round, Stargate has played a major role in Arbitrum’s ecosystem. The change in approach to incentives show adaptation to the needs of the chain and we appreciate the focus on helping the transition to native USDC.
Proposal: Dolomite STIP Addendum
Type: Snapshot, ended May 27, 2024
Vote: Approve Funding
Reasoning: Dolomite had strong metrics, the concern around this proposal was the oARB vesting mechanism. We believe that it’s a valid incentive model that encourages users to remain engaged with Arbitrum in the long term.
Proposal: Savvy DAO STIP Addendum
Type: Snapshot, ended May 27, 2024
Vote: Approve Funding
Reasoning: The concern that was brought up by the ARDC was around their bond program. We believe this incentive mechanism is ok to use, and encourages long term alignment with Arbitrum. We would like to note that while this mechanism is fine, we think retroactively changing proposed models needs to be done carefully, if at all, and communicated well.
Proposal: Tide STIP Bridge Challenge
Type: Snapshot, ended May 27, 2024
Vote: Reject Funding
Reasoning:
Maximum Funding Size:
Maximum funding requests under this bridge grant are capped based on a percentage of the prior funding received under STIP:
- Greater than 500k ARB: may make a funding request of up to 50% of their prior funding.
- Less than or equal to 500k ARB: may make funding requests up to 100% of their prior funding, capped at 250k ARB.
Requested Grant Size: 80k ARB
How much are you requesting for this STIP Bridge proposal?
100K ARB
Proposal: Furucombo STIP Addendum
Type: Snapshot, ended May 27, 2024
Vote: Reject Funding
Reasoning:
Maximum Funding Size:
Maximum funding requests under this bridge grant are capped based on a percentage of the prior funding received under STIP:
- Greater than 500k ARB: may make a funding request of up to 50% of their prior funding.
- Less than or equal to 500k ARB: may make funding requests up to 100% of their prior funding, capped at 250k ARB.
Requested Grant Size:
59,500 $ARB
7. How much are you requesting for this STIP Bridge proposal?
350,000 ARB
Proposal: Socket Bridge STIP Addendum
Type: Snapshot, ended May 27, 2024
Vote: Reject Funding
Reasoning: Following the ARDC’s concerns around a lack of reporting.
Proposal: Arbitrum Multi-sig Support Service (MSS)
Type: Snapshot, ends May 28, 2024
Vote: 1. Implement MSS and Reporting, 2. Implement MSS, 3. Abstain, 4. Against
Reasoning: The DAO is paying too much for signers currently and we think this proposal addresses that in a reasonable way. While feedback from delegates has been taken into account, we would like to see a little more around mitigation of centralization risks.
Proposal: Streamlining the LTIPP Bounties
Type: Snapshot, ends May 29, 2024
Vote: For
Reasoning: Tasks like these require the ability to move quickly, something the DAO is not currently built to do. These research questions are especially important to get started on as fast as possible to further inform future spending around incentive programs. We’re comfortable with the council using their expertise to suggest topics and appraise any proposed research projects.
Proposal: KyberSwap STIP Bridge Challenge
Type: Snapshot, ended May 27, 2024
Vote: Abstain
Reasoning: The exploit is an unfortunate situation, we appreciate the steps they have taken since then to minimize the impact to the DAO, but this also means there isn’t good data to evaluate.
Proposal: Stake DAO STIP Addendum
Type: Snapshot, ended May 27, 2024
Vote: Abstain
Reasoning: KYC issues resulted in a program that wasn’t what the team intended. We feel they shouldn’t be punished for factors outside of their control but unfortunately the nature of their adapted program means data is hard to evaluate. We would encourage them to reapply for funding in either the next incentive program or independently once they have more data to work with.
Proposal: Boost (Prev. RabbitHole) STIP Addendum
Type: Snapshot, ended May 27, 2024
Vote: Abstain
Reasoning: The first round had high sybil activity and usage dropped off after incentives ended. The team has acknowledged the sybil problems and are implementing changes and the targetting of farcaster users is also interesting. We would like to see some higher baseline usage of the protocol before allocating another 500k ARB.
Proposal: Umami Finance STIP Addendum
Type: Snapshot, ended May 27, 2024
Vote: Approve Funding
Reasoning: Has shown strong performance metrics and the capital it attracted has been sticky even after incentives stopped. The team has shown adaptability in their proposal with their incentive mechanism being more straightforward this time, though we believe oARB was also a valid mechanism that aligned users with Arbitrum long term.
Proposal: Thetanuts Finance STIP Addendum
Type: Snapshot, ended May 27, 2024
Vote: Approve Funding
Reasoning: ARDC comment was about protocol owned liquidity, this was mentioned in their original application and they’ve offered to exclude POL from receiving rewards this round.
Proposal: Angle DAO STIP Addendum
Type: Snapshot, ended May 27, 2024
Vote: Abstain
Reasoning: We think diversification in stablecoins is important, but with usage dropping off after the incentives ended, we’re not sure whether the increases in metrics are worth the cost to the DAO. Would definitely encourage them to submit an application for STEP, like the ARDC mentioned.
Proposal: OpenOcean STIP Addendum
Type: Type: Snapshot, ended May 27, 2024
Vote: Approve Funding
Reasoning: Originally voted to abstain due to a lack of data, but after conversations with the team, we’re comfortable here.