Optimism
Preparing for Season 6, the Foundation is hosting election town hall meetings so delegates can learn more information about the self-nominees for the Grants Council and for the Developer Advisory Board.
Grants Council S6 Election Town Hall
Following the self-nominations of the Season 6 Grant Council, the Foundation is hosting a Town Hall meeting on Tuesday, 11th of June 2024, at 5:00 pm UTC, where each nominee will have 60 seconds to answer the following question:
“What unique skills or habits will you bring to the Grants Council to ensure it delivers measurable impact towards the approved KPIs?”
If you’re a delegate and you’re interested in asking a question to all self-nominees during the Town Hall, you can post your question in the comments here. If time allows, one question will be picked randomly from the list of delegate questions.
Developer Advisory Board S6 Election Town Hall
Following the self-nomination of the Seaon 6 Developer Advisory Board, the Foundation is hosting a Town Hall meeting on Tuesday, 11th of June 2024, at 5:00 pm UTC, where each nominee will have 60 seconds to answer the following question:
“What unique skills or habits will you bring to the Developer Advisory Board to ensure it delivers measurable impact towards the approved KPIs?”
If you’re a delegate and you’re interested in asking a question to all self-nominees during the Town Hall, you can post your question in the comments here. If time allows, one question will be picked randomly from the list of delegate questions.
[RFC] V2. Code of Conduct Council Operating budget re-scope for season 6. (cycle 23b)
After the original proposal to renew the Code of Conduct Council with a new operating budget was defeated, Juankbell submitted an iterated version incorporating the feedback previously received from delegates. The proposed operating budget has been decreased from 55,000 OP to 38,000 OP.
Discuss with L2BEAT
With Season 6 upon us, we want to discuss its structure and Optimism broadly with other delegates and interested stakeholders. Before the season officially kicks off, there are many things to unpack and many structural changes to digest, from the new Intentions to the way the Mission will work.
If you’re eager to learn more about Optimism, have ideas you’d like to bounce off of someone with experience in governance and Optimism, or are contemplating applying for a grant, we’d like to chat.
When/where to catch us:
You can find us to discuss all of the above and more during our Optimism Office Hours every Tuesday at 3 pm UTC.
Upcoming Events (Times in UTC)
- Grants Council Election Townhall on 11.6 at 5:00 pm
- Developer Advisory Board Election Townhall on 11.6 at 6:05 pm
- Builder Office Hours with the Foundation on 12.6 at 4:30 pm
- ACC Office Hours on 13.6 at 4:00 pm
Arbitrum
Arbitrum continues to be buzzing with energy. The Foundation is working on upgrading the rollup contracts to use Arbitrum BOLD, and the DAO is seeing an increase in proposals surrounding the prudent use of the treasury.
Active Votes
On-Chain
- Kwenta x Perennial: Arbitrum Onboarding Incentives – ends on June 24, at 22:26 UTC
Temp Check
- Election of STEP Program Manager – ends on June 12, at 00:00 UTC
- Pilot Phase: Arbitrum Ventures Initiative – ends on June 12, at 01:00 UTC
- BoLD - permissionless validation for Arbitrum – ends on June 13, at 18:16 UTC
- Funds to bootstrap the first BoLD validator - Bond sentiment – ends on June 13 at 18:17 UTC
- Funds to bootstrap the first BoLD validator - Operational cost sentiment – ends on June 13 at 18:18 UTC.
Arbitrum BOLD Proposals
The Arbitrum Foundation has submitted a proposal to upgrade both Arbitrum One and Arbitrum Nova’s Rollup Contracts to use Arbitrum BOLD, a new dispute resolution protocol designed to replace the existing and currently deployed Arbitrum protocol.
Alongside the core proposal that has to do with the upgrade itself, the Foundation has also submitted 2 accompanying proposals:
- A proposal to bootstrap the first BoLD validator using 4,234 ETH from the treasury for Assertion and challenge bonds
- A sentiment check for the operational cost, where the Foundation is requesting 900 ETH from the treasury for:
- Service fees. 500 ETH will be paid to proposers who are actively participating in and advancing the chain.
- Refund L1 gas costs. 400 ETH will reimburse all L1 gas costs for proposers who actively advance the chain and defend against malicious challenges, assuming 1 challenge per year.
Arbitrum GovHack Brussels - July 5 to July 7
Arbitrum GovHack returns, this time at Brussels in the context of EthCC!
Learn more about the event and register to attend here.
[ARDC] Monthly Update
As per the mandate of the original proposal establishing the Arbitrum Research and Development Collective (ARDC), we (L2BEAT), in our capacity as DAO Advocate, published a monthly update with everything the ARDC has worked on and everything currently on our plate.
We remind everyone that you can follow along with ARDC’s progress on our public Notion page.
[RFC] Arbitrum Gas Fees & Sequencer Revenue
Entropy Advisors published a post discussing Arbitrum’s gas fees and the revenue generated by the sequencer. More specifically, the discussion addresses the fact that the amount of ETH flowing into the DAO’s treasury has essentially gone flat since the end of April 2024, and it debates whether the DAO should charge slightly more for gas.
Following up on that discussion, we (L2BEAT) have scheduled a call to discuss Arbitrum’s fees and sequencer revenue on Friday, June 14th, 2024, at 1:00 pm UTC.
[RFC] Pilot Stage: Treasury Backed Vaults research and development
Cupojoseph from OpenDollar submitted an RFC that proposes a pilot stage for creating Treasury Backed Vaults (TBV). Simply put, TBV aims to help the DAO with liquidity when it comes to spending (e.g., in grants or investments) by using the treasury to collateralize stablecoin loans from CDP protocols.
The pilot stage has a 2.5-month timeline and a cost of 250,000 ARB. The money will be used for research and development, risk analysis, a public audit, and a report for the DAO to consider to establish broader usage of TBV.
[RFC] Betting on Builders: Infinite Launchpad Proposal
AminIman submitted an RFC proposing to create a collaborative accelerator program strategy, which is expected to run from Q3FY2024 through Q4FY2025. To begin, EVM Capital, RnDAO, and Outlier Ventures are partnering on this proposal to launch the initiative, collect data, and establish best practices.
The overall cost of the proposal comes up to $10,470,000 USD, which will be distributed in quarterly or bi-annual funding tranches via a multisig account created by the assigned oversight committee.
[RFC] Request for Additional Funding for the Arbitrum DDA Program
Srijith, the program manager of Questbook’s grant program, submitted an RFC to request $1,000,000 worth of additional funding for the DDA program since, due to volatility, the total amount received in ARB fell short of the intended budget. Out of the proposed $4 million, they received $3.397 million.
[RFC] ArbitrumHub Evolution: The Next Step in Streamlining Information Access and Raising Awareness for Arbitrum DAO
0x_Builder submitted an RFC that outlines the next phase for ArbitrumHUB and its vision to be the go-to destination for comprehensive information about ArbitrumDAO and its initiatives. Specifically, they’re requesting a grant of $529,200 over 6 months for the maintenance and further development of the platform, weekly reports of the DAO’s activities, community engagement, and for 4 advisors elected by the DAO.
[RFC] Grant Request for Koryntia - Pioneering the Next Generation of DeFi Lending
Gregoriopunzano from Koryntia submitted an RFC seeking a grant of 3,000,000 ARB from the Arbitrum DAO to develop and launch the DeFi lending platform over the next 6 months. The funds will be used to develop the smart contracts, a beta launch, and the full launch and marketing.
Arbitrum Multi-sig Support Service (MSS) Nomination Thread
Following a successful temp-check, the nominations for the Multi-sig Support Service (MSS) proposal have started, and the application deadline is June 19th. The MSS will comprise 12 elected individuals to all DAO-funded multi-sigs. They will be compensated a base USD amount, paid in ARB, for performing these services across the DAO and will have a tenure of 12 months. All of the above is contingent on the proposal passing the on-chain vote.
Discuss with L2BEAT
We are always interested in discussing everything relevant to Arbitrum with other delegates and interested parties. Still, this week, we’re focused on a DAO Budget and managing Arbitrum’s gas fees and sequencer revenue to ensure sustainability over the long term. To that end, we’ve scheduled two calls to discuss those matters: on Wednesday, 12/6, at 2:00 p.m. UTC and on Friday, 14/6, at 1:00 p.m. UTC.
When/where to catch us:
You can find us to discuss all of the above and more during our Arbitrum Office Hours every Thursday at 3 pm UTC.
Upcoming Events (Times in UTC)
- Developer Relations Fellowship on 10.6 at 10:00 pm
- Business Development Fellowship on 11.6 at 3:00 pm
- Incentives Working Group on 11.6 at 4:00 pm
- ARB M&A Pilot Phase Bi-Weekly on 12.6 at 1:00 pm
- DAO Budget Creation - Discussion on 12.6 at 2:00 pm
- ADPC Call on 13.6 at 2:00 pm
- Social Media Fellowship on 13.6 at 5:00 pm
- Arbitrum DAO Onboarding on 13.6 at 10:00 pm
- Arbitrum’s Fees and Sequencer Revenue - Discussion on 14.6 at 1:00 pm
Uniswap
Arbitrum LTIPP Incentive Matching
AbdullahUmar submitted an RFC on behalf of the Uniswap-Arbitrum Delegate Program (UADP), seeking the DAO’s input on whether or not it should match Arbitrum’s LTIPP allocation for Uniswap of 1,000,000 ARB worth of incentives. The proposed options for matching are 250k, 500k, 750k, or 1M.
The proposal also offers insight into how the incentives will be distributed in collaboration with Merkl and Gauntlet.
Discuss with L2BEAT
To decide whether matching the funds from LTIPP makes sense, we’d need to consider and assess the impact incentives have on Uniswap’s growth. Additionally, since the proposed matching amounts are similar to those in the onboarding packages Uniswap has extended to some chains, it’s perhaps prudent to consider it in those terms. In any case, we’re more than happy to discuss with delegates and other interested parties, especially given our experience with Arbitrum.
When/where to catch us:
You can find us to discuss all the above and more during our Uniswap Office Hours every Friday at 3 pm UTC.
Upcoming Events (Times in UTC)
- Uniswap Community Call on 11.6 at 2:00 pm
Hop
Discuss with L2BEAT
We were not aware of any significant governance-related news in Hop over the last week. If you think we have missed something important, please let us know!
When/where to catch us:
You can find us to discuss all things Hop during our Hop Office Hours every Friday at 3 pm UTC.
Upcoming Events (Times in UTC)
- Hop Community Call on 12.6 at 6:00 pm
Polygon
PIP 38 - Phased expansion of Validator Slots on Polygon PoS
Vasanti01 from PolygonLabs’ Validators Support Team submitted a proposal that outlines the considerations for expanding the number of validator slots to ensure robust network performance.
The primary motivation for increasing the number of validator slots within the Polygon PoS network is to improve decentralization, which can be observed via the following metrics:
- Geographical distribution of nodes.
- Decrease stake centralization.
- Improve the Nakamoto coefficient.
Discuss with L2BEAT
We’re interested in discussing all developments in Polygon with interested stakeholders, and for that purpose, we’d like to invite you to our office hours (link below).
When/where to catch us:
You can find us to discuss all things Polygon during our Polygon Office Hours every Friday at 3 pm UTC.
Upcoming Events (Times in UTC)
- Polygon Protocol Governance Call on 13.6 at 3:00 pm
Starknet
StarkHack Hackathon Starts June 13th
Jacob from ETHGlobal took to the forums to announce StarkHack, which was organized in collaboration with StarkWare, the Starknet Foundation, and many other Starknet ecosystem contributors.
StarkHack will begin on June 13, 2024, and run until June 26th, 2024. There will be a total of $100,000+ USD in prizes.
Discuss with L2BEAT
On the occasion of StarkHack, we’d like to connect with builders and key Starknet contributors to discuss the future of Starknet.
When/where to catch us:
You can find us to discuss the above and more during our Starknet Office Hours every Friday at 3 pm UTC.
Everclear
Connext rebrands to Everclear
On June 3rd, Connext rebranded to ‘Everclear: The First Clearing Layer’. There’s a lot of information to unpack that goes beyond the scope of our governance review, but you can read more about it in their full blog post.
Arjun, the founder of Everclear, attended the delegate call on Friday, June 7th, and provided helpful information while answering questions. The recording of the call can be found here.
Discuss with L2BEAT
Connext becoming Everclear is more than a simple rebranding; it introduces fundamentally new concepts with new possibilities. We’d like to discuss these changes with delegates to better understand them.
When/where to catch us:
You can find us to discuss the above and more during our Everclear Office Hours every Friday at 3 pm UTC.