240813-1200_ Open Discussion of Proposal(s) - Bi-weekly Governance Call (2024-08-14 00_05 GMT+8) | Otter.ai

240813-1200_ Open Discussion of Proposal(s) - Bi-weekly Governance Call (2024-08-14 00_05 GMT+8)

APLsdcOttr1h 4min

Cliffton Lee, Arbitrum Foundation

00:04

Uh, we are live. Let me start by sharing my screen.

Cliffton Lee, Arbitrum Foundation

00:16

Oh, you guys should be able to see my screen. Now. We have a couple of items to go through. So let's just go straight into the on chain, AIPs, the first up. We have the arbos, 31 other one, otherwise known as Bianca upgrade, that's ongoing. This includes three different upgrades. So that is stylus, that is our piece support for a contraction as well as a NOAA fee router proposal to ease the routing of fees to the DAO treasury. So all three has actually plus temperature checks previously on snapshot. And this is just a bundle proposal as one single on chain. AIP, so very happy that we have a hit quorum and there is majority support, so the voting ends in two days. So yeah, looking forward to getting this executed. Any questions on this proposal? We've covered this in quite a few previous calls, so don't want to take up too much time. If not, let's move on. So the next one is also an on chain AIP by entropy, posted by Frison. So this is to set up the multi SIG support service. Similarly, we have gone through this proposal 120 times. The whole purpose is to set up a Dao wide multi SIG committee so that the DAO can essentially save money on setting up all these one off multi SIGs for all these different functions. So Matt from entropy and the rest of the entropy team has covered this proposal in quite great detail over the past few calls and on the forums as well. So if noone has any questions, we can move on this vote as well. Has hit quorum and has majority support. Voting ends this Friday, so this will likely be executed as well next week. Any questions or not sure if Matt or anyone from the entropy team would want to chime in? If not, I can move on. Cool. Let's move on. So the next on chain proposal is by entropy, and they are requesting for some funds to exclusively work with the arbitrum Dao for a year. This also includes a 1.5 billion our bonus. Similarly, this proposal has been through a lot of discussions over the past few weeks, but since there is still quite some time for votes to happen, wonder if Matt, or anyone from the entropy team would like to chime in with a note. If not, all good as well, we can move on.

Matt Fiebach, EntropyAdvisors

02:51

Sure. Yeah, like Cliff said, we've we've gone over it a couple times, but it's basically structured as $100,000 a month payments until and if the team scales to seven, at which point that goes up to the full amount, which is basically $200,000 a month, pretty much the same as on snapshot. There's very, very minimal changes, but they're outlined at the top. Scope of our work is exclusively working with arbitrum Dao, know their clients in any capacity, driving strategic proposals that only benefit the DAO don't benefit us in any way, helping third parties navigate the DAO and a few things of that nature. And please like, we're getting close to quorum about 60% of the way there. So if you haven't voted yet, would be much appreciated.

Cliffton Lee, Arbitrum Foundation

03:34

Thanks. Any questions for Matt or the entropy team? I

Cliffton Lee, Arbitrum Foundation

03:46

cool. Let's move on to active temperature checks, right? So we have the ARB taking unlock ARB utility and aligned governance proposal by tally that's up on Snapchat at the moment. So voting ends in two days as well. Covered this quite a bit in the previous governance calls as well. But frisson, I don't, I don't know if you want to chime in with a couple of feedback, because I think this has gotten quite a few good deliberation and feedback from the DAO,

Frisson, TallyXYZ

04:17

yeah. I'm happy to Yeah. I kind of went through it in depth, I think, on the last call. And, you know, I don't think there's anything substantive that's changed with the proposal. One Note maybe to call out is kind of the trust model of the smart contracts. The one thing I want to clarify, which I've done a couple places in the forum. But I'll share here as well is that the staking contracts are owned by the Dao. So like in the in the implementation of our staking, the DAO itself, like the core Treasury governor, the constitutional basically proposal process, is the only admin over the staking contracts. Um. And then also, this is true of any redelegation that occurs with the tally protocol. So with with staked ARB, if there's any voting power that gets locked in smart contracts and forwarded back to the tally protocol, the DAO will have exclusive, you know, admin authority over what the redelegation sort of rule bar of that voting power. And so that's just something I wanted to clarify for everyone, because it's come up a couple times. It's a it's a technical nuance. And then also on that note, like this proposal, the stage the proposal is in now is just to approve development of the staking contracts. There will be a separate proposal to actually implement the system, which will, like, literally be the smart contract upgrades that includes the implementation. And that's if you look at the proposal timeline, scheduled for, like, October, by the end of October, and that will happen after development and audit is complete. So that's another thing to note. Is, like, the DAO will have the opportunity to vote again, actually turning the system on, and at that point there will be, like, you know, full open source code, multiple audit reports, etc, etc, to review. So just a couple of maybe more technical notes that have come up since I last spoke about this topic.

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