The Arbitrum Security Council elections continue, along with proposals to analyze, vote on, and new initiatives aimed at bringing more contributors to the Arbitrum DAO and continuing to expand the Arbitrum ecosystem.
Let’s dive into this week’s Arbitrum DAO news 🚀
Security Council Election Updates
GovHack and Arbitrum LATAM Reports
Introducing Arbitrum Fellowships
Onboarding to the Arbitrum DAO
Double-Down on STIP Successes
Arbitrum Ventures Initiative (AVI)
Voting Reminders
Governance Calls
DAO Resources
ArbitrumDAO is currently in the process of electing 6 new members for the March 2024 Cohort of the Security Council from a pool of 22 qualified candidates.
This final voting phase will last for 21 days, during which delegates can vote for nominees who have passed compliance checks.
Delegates are encouraged to cast their vote(s) early, as voting power will decay if votes are not cast within the first 7 days (i.e. by April 19)
Delegates can split their votes across multiple nominees, with 1 token representing 1 vote
Delegates are advised to read this forum post (https://forum.arbitrum.foundation/t/security-council-members-duties-and-principles/16313) to understand the key attributes to consider when evaluating nominees
Delegates can also review the recording of the call where candidates presented their pitches.
GovHack ETHDenver 2024, organized by Hack Humanity and ArbitrumDAO, was a significant event designed to promote innovation within the Arbitrum ecosystem. Held over three days, the event included a Governance Bootcamp and an Open Community showcase, drawing over 200 participants.
A report with the results has been published, and you can view all the details here.
The initial phase of the Arbitrum LATAM project has successfully laid a strong foundation aimed at enhancing community engagement, education, and growth within the Latin American blockchain ecosystem.
The March results report has been published, and you can view all the details here.
Congratulations to all the protocols that passed the LTIPP Council Recommended snapshot votes! The LTIPP Team will contact you shortly to proceed with the compliance stage.
Protocols not recommended by the council can update and move their applications to Snapshot. All the details can be reviewed here.
After the LTIPP concludes, a new Long-term Incentives Program will be developed, incorporating lessons learned, with full implementation expected by July.
The Onboarding Working Group initiative, launched at the end of March, has successfully compiled a list of potential contributors to the DAO. The goal is to explore streamlined methods to transition from discussion to action within the DAO promptly.
Inspired by structures observed in other DAOs and creatively borrowing nomenclature from “Lord of the Rings,” the initiative introduces Arbitrum Fellowships. These fellowships are collaborative groups, united by their pursuit to fulfill specific needs of the DAO such as incentives, game development, or community growth.
The purpose of each fellowship is to brainstorm, discuss, research, and develop a plan to address the DAO’s needs effectively.
All contributors who are part of the onboarding working group will be contacted in the coming days to begin their fellowship group.
Over 50 new individuals interested in contributing to ArbitrumDAO have attended the welcome calls in the first weeks of the onboarding group’s execution. In the coming weeks, they will receive participation instructions tailored to their profiles and skills.
If you’re interested in participating, the meetings occur every Monday at 1 pm UTC and Thursday at 11 pm UTC.
Please make sure to add the Arbitrum DAO Calendar for the full schedule and the most accurate times.
A list of contributors with different backgrounds and interests in the DAO will be created. If you’re a member of a working group in the DAO, interested in recruiting new members or contributors for your initiatives, or involved in creating a new proposal, etc., feel free to reach out on TG at @ArbitrumDAOOnboarding so we can connect you directly with interested contributors.
You can find more details about this working group in the Arbitrum Forum.
The Arbitrum Stable Treasury Endowment Program (STEP) has successfully transitioned to the application phase after refining its proposal, aiming to diversify 35 million ARB into stable, liquid, and yield-earning assets.
Service providers interested in participating in STEP must submit their applications by May 1st.
You can check here for more details on the application process and to submit proposals.
The STIP Bridge is a strategic initiative within the LTIPP program designed to support key protocols in the Arbitrum ecosystem, providing a bridge to the forthcoming Perpetual Incentives Program. It aims to sustain Arbitrum’s market position by offering timely incentives to essential projects, ensuring their continued commitment and engagement in a competitive Layer 2 landscape.
An STIP FAQ has been created to provide information on the next stages of the program.
Stylus represents a strategic enhancement to the Arbitrum ecosystem by supporting additional programming languages, which can potentially lead to innovation and diverse application development.
This upgrade is expected to reduce execution costs significantly while improving the safety and security of smart contracts. Furthermore, ensuring interoperability between different programming paradigms within the same ecosystem will facilitate smoother transitions and integrations for developers.
Completing an audit of the Stylus code and making necessary changes based on the audit findings.
Conducting a snapshot vote to enable Stylus on the Arbitrum Sepolia test network.
Integrating the Stylus branch into the canonical Nitro codebase following successful tests and community feedback.
Launching Stylus on a public testnet to emulate real-world conditions and gather extensive user feedback.
Following successful testing, an on-chain vote will be organized to officially deploy Stylus upgrades on Arbitrum One and Nova.
The Arbitrum Ventures Initiative (AVI) is designed to accelerate growth in the Arbitrum ecosystem through strategic large-scale investments, expanding beyond traditional grants to include a variety of financial instruments such as venture capital and revenue-sharing.
AVI addresses the need for larger, strategic investments to maintain Arbitrum’s competitive edge in the L2 market. By leveraging a “fund in a box” model, AVI will streamline investment processes, reduce operational costs, and attract additional capital, enhancing the ecosystem’s sustainability and innovation capacity.
The initiative will be rolled out in two phases:
Formation of a research group to explore investment opportunities and establish necessary legal and operational structures.
Structuring of the investment fund and management team setup, pending separate approval.
Initial funding request for setting up legal, strategic, and governance frameworks, including:
50k ARB for achieving the first milestone of operational setup within 1-2 months.
150k ARB plus anticipated costs for advancing to the second milestone, covering legal and operational expenses.
Community approval to proceed with subsequent funding phases as milestones are achieved.
Ask: 200k ARB.
This proposal seeks to fund the DeFi Education Fund 2 (DEF) with 1M ARB to support their mission in advocating for decentralized finance developers and users.
DEF is vital for defending DAOs and DeFi in legal and regulatory spaces, especially in the current climate of heightened legislative and regulatory interest in DeFi following the FTX collapse and the bull market’s return.
The proposal outlines a two-phase funding plan: an initial 500,000 ARB transfer followed by another 500,000 ARB six months later, contingent on DEF’s regular updates and continued advocacy focus on DeFi and DAOs.
Ask: : $1M ARB
The following proposals are available for voting, and we encourage all delegates to analyze and exercise their right to vote.
Request for Continuation of the Arbitrum DDA Program Request (On-Chain)
Given the positive feedback and the substantial number of quality proposals received, a new grant initiative is proposed.
This new phase will allocate $4 million across four domains in the next two quarters, aiming to sustain and expand the support for innovative projects within the Arbitrum ecosystem.
Ask: $4M USD in ARB.
Deadline to vote Saturday, Apr 20, 2024.Delegate to Voter Enfranchisement Pool — Event Horizon (Snapshot)
Stemming from GovHack, this proposal seeks to increase participation in the DAO by empowering 10 DAO-approved, underrepresented delegates, with an additional 1M delegated ARB, each.
Ask: 10M ARB.
Deadline to vote Tuesday, Apr 23, 2024.Subsidy Fund for Security Services (Snapshot)
The ADPC has proposed a subsidy fund ($10M USD in ARB) to support up to 50 projects in the Arbitrum ecosystem by covering the costs of security audits from pre-approved service providers.
Ask: $10M USD in ARB.
Deadline to vote Wednesday, Apr 24, 2024.Safeguarding Software Developers’ Rights & the Right to Privacy (Snapshot)
This proposal advocates for a contribution to Coin Center to support its efforts in defending software developers’ rights and privacy.
Ask: Amounts varying from $1.5 million to $2.5 million ARB.
Deadline to vote Wednesday, Apr 24, 2024.Double-Down on STIP Successes (STIP-Bridge) (On-Chain)
The STIP Bridge is a strategic initiative within the LTIPP program designed to support key protocols in the Arbitrum ecosystem, providing a bridge to the forthcoming Perpetual Incentives Program. It aims to sustain Arbitrum’s market position by offering timely incentives to essential projects, ensuring their continued commitment and engagement in a competitive Layer 2 landscape.
Ask: 37.6M ARB.
Deadline to vote Friday, May 3, 2024.
The following proposals have concluded, and we invite delegates to stay tuned for their development within the Arbitrum DAO. The approval of a proposal is just the beginning, not the end.
LTIPP Applications (Snapshot)✅
ADPC Call
AVI Working Group Call
ARDC Public Meeting
Arbitrum DAO Onboarding
Delegate Workshop on Ecosystem Goals
Open Discussion of Proposal(s) - Bi-weekly Governance Call
You can subscribe and add the Arbitrum governance calls to your calendar here
Here are some valuable resources of the Arbitrum DAO:
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Every week, we analyze new proposals, summarize the state of the Arbitrum DAO, and provide you with the tools to contribute and increase your impact in the Arbitrum ecosystem.
We would love to hear your feedback as we continue to provide more Arbitrum DAO news each week.
Until the next edition, happy governing! 💙🧡
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