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โฐ 3 days until launch...
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We are making IRL events a big focus as we approach Mainnet.
There's no better way to connect with our community than in-person๐ค
Let us know if you would attend an Aleo event ๐
๐๐ฟ๐ฏ๐ถ๐๐ฟ๐๐บ๐๐๐ข ๐๐ผ๐๐ฒ๐ฟ๐ป๐ฎ๐ป๐ฐ๐ฒ
As an @Arbitrum Delegate, TreasureDAO has casted its votes via Snapshot for the recent proposals (AIP-1.1, 1.2 and 1.05):
โ AIP-1.1 - Lockup, Budget, Transparency
โ AIP-1.2 - Foundation and DAO Governance
โ๏ธ AIP-1.05 - Return 700M ARB
๐ Our friends at @TollanWorlds are giving us 10 WL spots for their upcoming mint! ๐ฅ
โ Complete their Pre-Alpha with WL to receive a Mark of Fate, allowing you to enter their upcoming Genesis Avatar mint.
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1๏ธโฃ Follow @TollanWorlds
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My thoughts on Arbitrum's AIP-1 as someone generally ๐๐ข๐ฅ โ the proposal, albeit not in its current form.
Why? Read on. ๐
(Note: opinions are my own and aren't representative of TreasureDAO as the single largest Arbitrum delegate who responded AGAINST โ๏ธ the proposal on behalf of its ~28k delegates.)
Links to the proposal and some ref responses are below.
โ
1๏ธโฃ ๐๐ผ๐บ๐บ๐๐ป๐ถ๐ฐ๐ฎ๐๐ถ๐ผ๐ป ๐๐ฎ๐ ๐ป๐ผ๐ ๐ด๐ฟ๐ฒ๐ฎ๐
There's no question about this. The ratification vs. proposal, future/past tense, articulation, not educating people unaware about the DAO setup process and the necessary parameters, requirements (eg. the majority of people!), etc could have been much better. This has all been acknowledged by Arbitrum Foundation and I'm confident things will improve. (I for one would love more details re: the Special Grants, oversight, and to see vesting there.)
Also note: Foundation โ Offchain Labs. The team is being assembled while the ship is being flown. Transferring knowledge, getting up to speed with the culture of the community, building, and working towards decentralization all at the same time is not an easy feat. Kudos to all involved as this is not easy.
There's a lot of hyperbole re: "pulling the rug out from under holders / selling out to benefit the team and VCs / fake DAO". This is all sensationalized and also not at all constructive. Things are not as simple as "let's just decentralize it all!". There's a starting point to everything and the journey is progressive. And Arbitrum has always operated for the benefit of the entire ecosystem. They aren't stopping now right when they're getting started.
2๏ธโฃ ๐๐ต๐ถ๐ฐ๐ธ๐ฒ๐ป ๐ฎ๐ป๐ฑ ๐ฒ๐ด๐ด ๐ฝ๐ฟ๐ผ๐ฏ๐น๐ฒ๐บ
@stonecoldpat0 put it well but there are important steps that need to be taken to establish the DAO and decentralize Arbitrum. With 291k holders, there's no practical reality to decide everything via a vote and so the Foundation was created to kick everything off. Without the Foundation, we'd be left with the Spiderman meme and a standstill arguing over the airdrop parameters, drafting the initial Constitution, etc. RE: entity formation and structuring, there are things that just legally need to be done first. Doesn't mean it's static and can't change via the DAO.
3๏ธโฃ ๐๐ผ๐ถ๐ป๐ด ๐๐ต๐ถ๐ป๐ด๐ ๐ฟ๐ถ๐ด๐ต๐ ๐ถ๐ ๐ป๐ผ๐ ๐ฎ๐น๐๐ฎ๐๐ ๐ฒ๐ฎ๐๐ ๐ฎ๐ป๐ฑ ๐ฐ๐ฎ๐ป ๐๐ผ๐บ๐ฒ๐๐ถ๐บ๐ฒ๐ ๐๐ผ ๐ฏ๐ฒ ๐๐ผ๐๐ฟ ๐ฑ๐ฒ๐๐ฟ๐ถ๐บ๐ฒ๐ป๐
While the proposal is far from perfect, the Arbitrum Foundation kicked things off with a desire for a greater degree of decentralization at the onset compared to its peers.
Arbitrum asked for the community's ratification re: funding while others did not. In the other cases, the decision was made for their communities who have since benefited from explosive growth of their ecosystems. If Arbitrum had done the same, would we be having this conversation or would we not have batted an eye?
4๏ธโฃ ๐ฃ๐ฟ๐ฎ๐ฐ๐๐ถ๐ฐ๐ฎ๐น/๐ฐ๐ผ๐บ๐บ๐ฒ๐ฟ๐ฐ๐ถ๐ฎ๐น ๐ฟ๏ฟฝ๏ฟฝ๐ฎ๐น๐ถ๐๐ถ๐ฒ๐ ๐ถ๐ป ๐ผ๐ฟ๐ฑ๐ฒ๐ฟ ๐๐ผ ๐ฐ๐ผ๐บ๐ฝ๐ฒ๐๐ฒ
This is an insanely competitive environment and in order for Arbitrum to succeed, it needs to be able to accommodate the natural course of business that is largely incompatible with on-chain voting and transparency. The examples listed are sound:
โข Polygon: Nike + Starbucks
โข Optimism: Coinbase's Base chain
These partnerships would have been impossible to reveal, discuss, negotiate, and approve through a DAO. Imagine being a Fortune 500 company putting in the reps to build atop Arbitrum only for the DAO to shut them down at the eleventh hour. Enormous waste of time and resources - impractical. Not to mention leaking trade secrets to competitors.
โ
There's a lot of nuance here and this may be unpopular but IMO there needs to be a degree of initial trust in the Foundation to serve Arbitrum paired with ongoing activism and scrutiny.
I want to see more from them but I also want Arbitrum to be as successful as possible. To do that, they need to be armed with what they need to crush it.