Following the numerous votes last week, things have slowed down in Optimism without, however, coming to a complete stop. Another protocol upgrade is published, and the Foundation gives us a hint of what’s to come for Retro Funding 4.
Upgrade Proposal #9: Fjord Network Upgrade
Roberto, an engineer at Coinbase and a core developer of the OP stack, submitted a proposal for protocol upgrade #9 — Fjord. The Fjord network upgrade includes the EIP-7212 precompile to reduce gas costs of many smart wallet applications, supports Brotli batch compression for ~5–15% lower data availability costs, and improves the robustness of L1 data pricing. The upgrade also increases and hardcodes the max-sequencer-drift parameter, giving chain operators more time to respond to L1 node issues without facing a potential L2 chain halt.
Retro Funding 4: Impact Metrics, a Collective Experiment
Optimism Foundation published a post to showcase how the collaborative curating of impact metrics for Retro Funding #4 is going to work — from the initial surveys and workshop insights to post-workshop adjustments — and how feedback will be integrated to shape a metrics framework that reflects the impact the Collective aims to reward.
Launching the OP Citizen Dashboard
The Optimism Foundation announced the launch of Citizens Database. This new platform maps all current OP Citizens, detailing their roles in projects and their retrospective for reviewing RetroPGF3.
Discuss with L2BEAT
We’re interested in discussing with other delegates how Retro Funding #4 and the impact evaluation process is going to function. On that note, we also want to remind everyone that applications to Retro Funding 4 started on the 23rd of May and will be open until June 6th.
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.
The Arbitrum Foundation has submitted 3 technical proposals to Snapshot — one to route fees from Nova to the DAO’s treasury in a permissionless way, one to activate Stylus and enable developers to write smart contracts in programming languages such as Rust, and one to adopt RIP-7212.
Temp Check — Set up a Sub-Committee for the Security Services Subsidy Fund
The ADPC submitted a proposal to set up the Security Services Subsidy Fund (‘SSSF’) Subcommittee. It seeks 60,000 ARB to fund the members of the SSSF Subcommittee over one cohort spanning eight weeks.
The Snapshot proposal ends on June 6, 2024, at 2:48 pm UTC.
Temp Check — Nova Fee Router Proposal (ArbOS 30)
This proposal by the Arbitrum Foundation seeks to introduce a system in which the funds received from transaction fees on Nova are “automatically” (permissionless) sent from Nova to the Arbitrum DAO Treasury on Arbitrum One without the DAO having to pass a constitutional proposal any time it wishes to move the funds.
The Snapshot vote ends on June 7, 2024, at 00:00 am UTC.
Temp Check — Activate Stylus and Enable Next-Gen WebAssembly Smart Contracts (ArbOS 30)
This proposal by the Arbitrum Foundation outlines a path toward activating Stylus on Arbitrum One and Arbitrum Nova. Stylus is an upgrade that introduces a new virtual machine that runs alongside the EVM. This enables developers to write smart contracts in new programming languages, like Rust, that are more efficient than Solidity smart contracts.
The Snapshot vote ends on June 7, 2024, at 00:00 am UTC.
Temp Check — Support RIP-7212 for Account Abstraction Wallets (ArbOS 30)
This proposal by the Arbitrum Foundation seeks to adopt RIP-7212 (Rollup Improvement Proposal), a precompile for verifying the secp256r1 curve on Arbitrum One and Arbitrum Nova. Other major L2s have committed to adopting RIP-7212. Adding support for this precompile would enable account abstraction wallets to cheaply verify a type of signature widely used in passkeys and secure enclaves.
The Snapshot vote ends on June 7, 2024, at 00:00 am UTC.
[RFC] Funds to bootstrap the first BoLD validator
The Arbitrum Foundation submitted an RFC that seeks 5,134 ETH from the DAO to bootstrap the first BoLD validator, contingent on the proposal to upgrade the DAO-governed chains to use BoLD (see above) passes.
The ETH will be used to cover assertion and challenges bonds, service fees, and L1 gas cost refunds. The DAO currently has about 14,500 ETH in the treasury, so the proposal could be funded in full without selling or otherwise converting ARB.
[RFC] The Startup Collective — Ecosystem Growth in Arbitrum
Scollen from Elixir Capital submitted an RFC that seeks to propose the creation of the Arbitrum Startup Collective, a dedicated $50,000,000 fund to invest in up to 150 startups building on Arbitrum, from Seed to Series A.
The proposal authors, which include members of the Arbitrum ecosystem, highlighted that they do not want to create conflicting workstreams and are committed to integrating this initiative into any other larger initiative that might already be in the works (e.g., AVI) if it makes sense.
Discuss with L2BEAT
Several technical proposals from the Foundation are currently in the temp-check phase of the governance process. We’d be interested in knowing whether there are any questions or concerns that the ARDC could help with. Furthermore, as L2BEAT, we’re interested in engaging with all active initiatives in the DAO, including those currently going through an on-chain vote and those still in their RFC stage.
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.
While there’s only one active vote in Uniswap right now, according to an update by Erin Koen, Uniswap Foundation’s governance lead, the proposal to activate Uniswap’s protocol governance is set to go for an on-chain vote very soon.
On-Chain Vote — Uniswap Delegate Reward- 3 Months Cycle 1
After a successful temp check, the proposal to introduce delegate rewards has moved to an on-chain vote. We want to remind everyone that the proposed compensation is up to $6,000/mo for the 12 qualified delegates, contingent on meeting the eligibility criteria, as outlined in the proposal.
The Tally vote ends on June 2, 2024, at 00:12 am UTC.
Discuss with L2BEAT
Delegates, including ourselves, discussed the proposal extensively before it was brought to an on-chain vote. Many contradicting views on how delegate rewards should be structured existed, but ultimately, the proposal moved forward with a simple design to avoid paralysis by analysis. We’re interested in engaging with other delegates, monitoring how the delegate rewards impact the DAO, and brainstorming on ways to improve it for the next iteration based on learnings.
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.
The discussion about renewing and redesigning Hop’s grants program has been happening for the past few weeks, and the proposal just hit Snapshot.
Temp Check — Hop Grants Program Renewal and Redesign
This proposal, initially submitted by Kene from StableLabs, seeks to renew the Hop grants program and introduce some changes to its structure, following feedback from delegates and extensive discussion. The vote on Snapshot is more about getting a soft consensus from delegates that a renewal of the grants program is something that the DAO needs/wants and less about the specific details of the renewed program.
The Snapshot vote ends on June 4, 2024, at 07:09 pm UTC.
Discuss with L2BEAT.
We’ve been involved in the discussion about renewing the grants program for some weeks now. While we agree that a renewal of the Hop grants program will greatly benefit Hop, we believe the members of the grants council that will be set up are vital to the program’s success and, as such, should be compensated accordingly.
When/where to catch us:
You can find us to discuss all the above and more during our Hop Office Hours every Friday at 3 pm UTC.
Discuss with L2BEAT
We were not aware of any significant governance-related news in Polygon 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 Polygon during our Polygon Office Hours every Friday at 3 pm UTC.
Although there is not much to do in governance in Starknet right now, the Foundation is setting the foundations (pardon the pun) to set builders on Starknet up for success. Starknet will soon have funding available for builders of any maturity.
Launch of the Catalyst Program
Starknet Foundation announced the launch of the Catalyst Program, a 20,000,000 $STRK grant program aimed at funding use cases that improve user experience with new features and better interfaces on Starknet.
The Foundation also hinted at a ‘major upcoming program that will cater for more established builders’ in their full announcement on their blog.
Discuss with L2BEAT
We’re interested in meeting and discussing with builders on Starknet to get a better and deeper understanding of the ecosystem. If that’s you, please do reach out!
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.
There are currently 2 active votes in Connext, one regarding a proposal between Connext and Inverter Network and another to establish a ‘Governance Task Force’ to better facilitate work in the DAO, especially from an operational point of view.
Vote — Inverter Network <> Connext Partnership Proposal
Inverter Network has submitted a proposal to establish a long-term partnership with Connext, along with a roadmap to innovate and drive up Connext’s interoperability and protocol adoption.
The main objectives of the proposal are to:
- Integrate Connext’s cross-chain technology as functionality in Inverter’s Module Library.
- Deploy a cross-chain staking workflow using Connext’s cross-chain module integrated into the Inverter Module Library.
- As proof of concept, to partner with an LSD protocol to build Inverter’s Public Goods Staking plugin.
The total cost of the proposal is 240,000 $NEXT, paid in tranches based on the accomplishment of predefined milestones outlined in the proposal.
The Snapshot vote ends on June 5, 2024, at 6:42 pm UTC.
Vote — Introducing the Connext Governance Task Force
MinistroDolar of SEED Latam submitted a proposal that seeks to establish the ‘Governance Task Force’ to help ConnextDAO and the Connext Foundation work efficiently toward the success of the core protocol while maintaining a neutral and impartial stance.
The Governance Task Force will be comprised of 3 roles:
- A program manager,
- An operations officer, and,
- A treasury officer.
The proposed compensation for each role is a flat amount of $2,000/mo, for a total of $6,000/mo. The vote includes two options regarding the timeline: 4 or 6 months and a total respective cost of $24,000 or $36,000.
The Snapshot vote ends on June 5, 2024, at 7:08 pm UTC.
Discuss with L2BEAT
We have seen a role similar to the one proposed for the ‘Governance Task Force’ be implemented in other DAOs with various degrees of success. We want to discuss how it can best serve Connext DAO with other delegates so we can make a better-informed decision based on the needs at hand.
When/where to catch us:
You can find us to discuss all the above and more during our Connext Office Hours every Friday at 3 pm UTC.
