Governance Review #05

Optimism

Mission Request Results

Voting Cycle #18 Voting Period has concluded and the results are out in terms of which Mission Requests got approved by the Token House.

The number of Mission Requests approved under each intent are:

• Intent #1 - 6/6
• Intent #2 - 7/14
• Intent #3 - 6/13
• Intent #4 - 8/10

Interested parties can now apply to fulfill Mission Requests on Charmverse up until 21st of February 2024.

Upgrade Proposal #5: Ecotone Network Upgrade

Bayardo, an engineer on the core Base team and a core developer of the OP stack submitted a proposal for Protocol Upgrade #5: Ecotone Network Upgrade.

The proposed upgrade adopts EIP-4844 blobs for data availability and activates Dencun L1 extensions. Blobs are a new type of data storage introduced by Dencun specifically for the purpose of rollup data availability. Blob data is priced using a separate fee market from regular transaction gas and we expect a dramatic (up to ~80x) reduction in overall transaction fees Additionally, the upgrade brings the core improvements from the L1 Dencun hard fork into the OP stack, including new opcodes and the beacon root support.

Upgrade Proposal #6: Multi-Chain Prep (MCP) L1

Diego, a protocol engineer at OP Labs which is a core developer of the OP stack submitted a proposal for Protocol Upgrade #6: Multi-Chain Prep (MCP) L1.

This protocol upgrade strengthens the security and upgradeability of the Superchain by enabling L1 contracts to be upgraded atomically across multiple chains in a single transaction. In addition, this upgrade extends the SystemConfig to contain the addresses of the contracts in the network.

Proactive Fundraising for Retrofunded Projects

Zherring posted on the forum looking for feedback on some avenues they’ve explored for proactive fundraising for RPGF rounds after extensive research and ideation. The TL;DR version of their ideation is that people could choose to donate to different projects in between RPGF rounds, and then get a % of the project’s future RPGF allocation.

Discuss with L2BEAT

With Season 5 moving forward, we’re in the process of collecting our thoughts and distilling them into feedback that we will share publicly. To that end, we’d like to hear your thoughts on how Season 5 has worked out so far, especially when it comes to Mission Requests, and things you’d like to see improved in future seasons.

When/where to catch us:

You can find us to discuss all things Optimism during our Optimism Office Hours every Tuesday at 4 pm UTC.

Arbitrum

On Chain Vote - ArbOS 20 ‘Atlas’

This AIP proposes a number of improvements to Arbitrum chains, including the capability to leverage EIP 4844 to post batches of L2 transactions as Blobs on L1 Ethereum at a cheaper price. The proposal also includes support for most of the changes included in Ethereum’s Dencun upgrade and 2 improvements to batch posting for Arbitrum One and Nova.

The Tally vote ends on March 2nd, 2024 at 23:47 pm UTC.

You can read the full proposal here.

Before voting on-chain, we’ll be reviewing the proposed changes to the code and ensuring they only do what they’re supposed to.

Arbitrum and the Future of Web3 Gaming

Dan Peng of Vela published a post that aims to function as an educational hub for the Arbitrum DAO, focused on highlighting the potential impacts of web3 gaming on the Arbitrum ecosystem and its stakeholders. The post helps readers understand why the gaming industry is a massive opportunity for Arbitrum, provides some background on how discussions around gaming started in Arbitrum DAO, gives an overview of the current landscape of gaming on Arbitrum, and provides some recommendations on the type and size of grants gaming studios should receive.

The post also incluses a link to the Telegram of the gaming working group that has been organised, as well as an open draft of the Gaming Catalyst Program which is a model to rapidly accelerate Arbitrum’s support for game builders and also strategically allocate funding and resources towards vetted experts to help accelerate the onboarding and go-to-market of the best builders in the gaming industry.

[RFC] Arbitrum Day 2024: Gas Free

This RFC proposes that the Arbitrum DAO should fund a gas-free day on Arbitrum and all Arbitrum Orbits on mainnet, with the goal of attracting users. While the overall cost is not concrete, a calculated guess from the proposer is in the range of ~$6M.

[RFC] Front-end interface to force transaction inclusion during sequencer downtime

This RFC by WakeUp Labs proposes the development of a front-end interface that enables users to force-include transactions directly on L1 when the Arbitrum Sequencer is down. This tool would empower users with the ability to bypass the Sequencer in situations where it is unavailable or censoring transactions, thus aligning with Arbitrum’s vision for progressive decentralization.

The overall cost of the proposal is estimated at 37,500 ARB, and the expected timeframe is 4,25 months for full implementation.

DAOs Committees: Balancing Decentralization with Efficiency

Pedrob created a post to start a discussion on the concept of committees, the debate between decentralization and efficiency, and shared their thoughts on what the problems that committees face are and how they could be mitigated. Namely, the problems mentioned are:

• Lack of clear tasks and objectives to measure outcomes
• Lack of external accountability
• Lack of internal accountability
• Lack of transparency
• Lack of engagement with governance/community
• Are committees a popularity contest?

Supporting (some of) the needs of builders through grants: a simple analysis of what the DAO could do next

Jojo published a post that tries to highlight what protocols need and what the DAO could do for them, with a focus on grants. Jojo has broken down the types of grants into 3 main categories:

1. Development grants - described as the biggest gap in the DAO
2. Incentives grants - described as the type of grants that the DAO has the most experience
3. Bootstrap grants - kind of a mix of the two

The end goal of the post is to start having a public discussion on the next steps regarding what our DAO can do to favor builders.

Event Horizon: Call for creative uses of delegation to boost participation

Event Horizon published a post that seeks to start a discussion around the concept of increasing governance participation by rewarding users with delegations instead of grants or incentives. Without having to emit any ARB tokens, the DAO can reward active retail participants with governance authority. Some preliminary ideas mentioned in the post include retroactive delegation en masse and delegation to a sub-DAO.

Discuss with L2BEAT

We’re interested in hearing the community’s thoughts on the Gaming Catalyst Program and especially on how the best way of materializing it, given that people with grants experience might not necessarily having experience in game development, and people with experience in game development might not necessarily have experience in grants.

When/where to catch us:

You can catch us to discuss all the above and more during our Arbitrum Office Hours every Thursday at 4 pm UTC.

Uniswap

On Chain Vote - Deploy v2 on all chains with v3

TL;DR of deploying v2 on all chains where v3 is deployed:

• The only canonical deployment of Uniswap V2 is on Ethereum mainnet.
• There is demand for V2-style AMMs on non-Ethereum chains and many V2 forks have been deployed with varying degrees of modification.
• To the extent that these forks have been modified, they may prove unsafe for users.
• To the extent that these forks have liquidity, that liquidity could likely have accrued to Uniswap V2.
• The combination of Uniswap V2 and Uniswap V3 can often provide better execution for small-volume swappers via the Universal Router.

The Tally vote ends on Saturday 17th of February 2024 at 11:57 am UTC.

You can read the full proposal here.

[RFC]: Fix “The Graph” and fix the order routing

GoldenNaim submitted an RFC that proposes that Uniswap deploys a new subgraph and fixes the Smart Order Routing Algorithm on Uniswap Analytics. Erin, the governance lead of Uniswap Foundation pointed out that Uniswap Analytics is owned by Uniswap Labs, which the DAO cannot ‘control’ through governance.

Discuss with L2BEAT

With Uniswap v4 tentatively scheduled to be released in Q4, perhaps we need to figure out how we can decide where to deploy without having to vote on each chain individually. We’re interested in discussing that with the rest of the community and understanding the nuances, if any, better.

When/where to catch us:

You can find us to discuss all things Uniswap during our Uniswap Office Hours every Friday at 4 pm UTC.

Hop

On Chain Vote - Community Multisig Refill (5)

The previous vote to refill the community multisig failed to meet quorum in time and therefore had to be resubmitted.

The new Tally vote ends on February 22nd, 2024 at 8:59 am.

Nominations for Head of DAO Ops Election

Following a successful temp-check for the creation of a ‘Head of DAO Governance and Operations Role’, Francom created a post under which interested parties can nominate themselves (or others) for the position. Eligibility requirements for prospective nominees are:

1. They must have been materially active in the DAO in the past 6 months
2. Must have attended community calls
3. Must have posted on the forums
4. Must have used Hop bridge
5. Must have held HOP

You can learn more information about the ‘Head of DAO Governance and Operations’ role in the original proposal.

[RFC] Treasury Diversification for Ongoing Expenses

Shane from Hop Foundation submitted an RFC that proposes we sell 25% of Hop DAO’s ARB holdings (209,251 ARB) for USDC. This should raise approximately $440k for Hop DAO at current prices (~$2.10) which can be used to cover ongoing expenses.

The current and future ongoing expenses that currently exist are:

1. Authereum Labs Engagement Adjustment
2. Hop Community Moderator Compensation

Discuss with L2BEAT

We’re really interested in hearing from nominees for the ‘Head of DAO Governance & Operations’ role and learning more about them before the elections take place. Given the material impact the role can have on the DAO, we want to make sure we make an as-informed-as-possible decision.

We’re also interested in discussing the sustainability of selling treasury assets to fund expenses and whether there can be alternative sources of funds that could be used instead.

Lastly, it’s important to address the issue of a non-controversial vote (refilling the community multisig) failing to meet the quorum and having to be redone. We should somehow increase governance participation, or make it slightly easier

When/where to catch us:

You can find us to discuss your nomination and all things Hop during our Hop Office Hours every Friday at 4 pm UTC.

Polygon

Polygon Staking Report. January 2024

Validator.Info published their staking report for January.

The top 5 Polygon validators ranked by total stake as of February 1, 2024, are:

• Luganodes - 382.88m MATIC
• Binance Node - 360.25m MATIC
• Twinstake - 344.24m MATIC
• Web3Nodes - 207.44m MATIC
• Coinbase Cloud - 205.83m MATIC

Discuss with L2BEAT

We’re happy to chat with Polygon governance participants and discuss how we can contribute as L2BEAT.

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.

Starknet

Introducing the Starknet Provisions Program

The Starknet Foundation announced that it will soon launch the first round of the Starknet Provisions Program, meaning the allocation of Starknet Tokens (STRK) to the community. During this round of the program, the Starknet Foundation will distribute more than 700 million STRK to nearly 1.3 million addresses.

You can read the full announcement here.

Discuss with L2BEAT

With the launch of $STRK, we expect governance to start taking shape in the form of people delegating their tokens. We’d be happy to meet with other delegates and discuss how we can contribute to the Starknet ecosystem.

When/where to catch us:

You can find us to discuss Starknet during our Starknet Office Hours every Friday at 3 pm UTC

Connext

[RFC] - 1Hive xPollinate Retroactive Proposal

Monstrosity submitted an RFC on behalf of 1Hive which is asking for one-time retroactive payment for the 1Hive contributors towards building out the Connext xPollinate bridge. The cost to perform the tasks to launch xPollinate with the support of 1Hive developers, marketing experts, support staff, and business development was calculated to be a total of $66,155.

The proposal however seeks to request 815,208 $NEXT (current value ~$325,000) because 1Hive believes it’s fair to receive compensation based on the initial price when the project began, rather than its current value.

Mapping Ecosystem Initiative

Following up on what was discussed during the last community call, we’ve begun working on an initiative to help map the Connext ecosystem and better understand its participants. We’ll be publishing a post in the forum and asking people to participate so be on the lookout for it.

Discuss with L2BEAT

We’re keen to discuss with people familiar with the xPollinate bridge and the work done by 1Hive, and also with 1Hive contributors themselves to learn more about their proposal. We’re also interested in meeting Connext ecosystem participants and learning more about them.

When/where to catch us:

You can find us to discuss all the above and more during our Connext Office Hours every Friday at 4 pm UTC.