DAO Spotlights: Arbitrum DAO & Hop DAO
DAO Spotlights: Arbitrum DAO & Hop DAO
The Tally Newsletter, Issue 98
Welcome back to the Tally Newsletter, your weekly source for DAO governance insights. I'm coolhorsegirl and I’m so stoked to be here.
In the spirit of Delegation Week, we're turning the spotlight on two pioneering DAOs: Arbitrum and Hop. We'll delve into the latest governance developments in each DAO, showcasing some of the most noteworthy proposals. We'll also highlight key delegates whose efforts and influence are shaping the future of these organizations.
Arbitrum DAO is offering free delegation on Tally during Delegation Week. Wallets that held at least 40 ARB tokens prior to May 1st, 2023 will be eligible for a free delegation transaction. Hop DAO is also working on a delegation incentive program for Delegation Week, so keep your eyes out for that!
We’ve also got a few proposals live, with Gitcoin’s S18 funding for MMM (Merch, Memes, Marketing - I love that) up for voting, a few Optimism proposals (including a symbolic budget), and a revised proposal to bring Nouns to NFT.Brasil. Let’s get into it 👇
🔦 DAO Spotlights: Arbitrum DAO & Hop DAO
This week, we’re diving deep into two DAOs (and their delegates) you must watch.
💙 Arbitrum DAO 🧡
Launched just a couple of months back in March, Arbitrum DAO uses $ARB tokens to allow holders to propose and vote on changes to the organization and the technologies it governs. Built on the Arbitrum One rollup chain, a Layer 2 Ethereum solution, the DAO includes a treasury for development funding and a Security Council for quick response to security issues. In effect, Arbitrum DAO allows token holders to actively shape the future of the Arbitrum and Ethereum ecosystem.
The Latest in Governance
As the first EVM rollup tech to reach Stage 1 decentralization, the ARB token launch was one of the most anticipated events in crypto this year. Over $120M in ARB was airdropped to fellow DAOs in its ecosystem: biggest receivers were Treasure DAO and GMX receiving $8M each followed by Uniswap, Sushiswap, Balancer, Curve, and Dopex, all receiving between 3-5 million ARB tokens. Since launch, AIPs have mostly focused on foundation-building for the DAO: amending the constitution, setting operating budget, and taking the first steps to launch a grants program.
Right now, the forum is hot with a proposal to include liquidity positions in voting. Arbitrum’s delegate program is also hot. To become a delegate, you can create a profile on Tally and build out your delegate platform. Don’t have time or interest in voting? Delegate to one of the DAO’s many delegates also on Tally.
Delegates to Watch
Ceazor’s Snack Sandwich (ceazor.eth): The most recent contributor to write a proposal (that LP one above), Ceazor is committed to expanding education as the path to adoption.
Core issues:
DeFi development on Arbitrum
Improving governance participation
IRL Arbitrum community gathering organization
DisruptionJoe (disruptionjoe.eth): Frequent in the forum, former Gitcoin Fraud Detection workstream lead DisruptionJoe is focused on creating legitimacy, credible neutrality, and sustainability in DAOs.
Core issues:
Public goods funding
Improving governance participation
Tooling, improving protocol decentralization
Blockworks Research (blockworksres.eth): The author of AIP 1.1 and 1.2, they’ve made significant contributions from Aribtrum DAO from the get-go. They believe the DAO’s main prerogative should be attracting builders into the ecosystem and minimizing the trust assumptions associated with the rollup.
Core issues:
DeFi development on Arbitrum
Improving governance participation
George Beall (hiringdevs.eth): As former Head of Business and Operations for Commonwealth and an active contributor to the dYdX ecosystem, hiringdevs.eth brings vast experience from across DeFi and is intent on facilitating the development of a complete and robust dapp ecosystem on Arbitrum.
Core issues:
DeFi development on Arbitrum
Tooling, improving protocol decentralization
🐰 Hop DAO 🐰
Hop Protocol serves as a core piece of Ethereum infrastructure and operates as a public good under the governance of Hop DAO (using $HOP) launched in May 2022. The DAO oversees Hop's continued growth and trajectory, managing functions like supported L2s and non-Ethereum chains, treasury fund management, and grants promoting ecosystem growth. In essence, Hop DAO exercises full control over the protocol's operation, and those interested in influencing its direction are encouraged to get involved as outlined in subsequent articles.
The Latest in Governance
Lately, we’ve seen a variety of funding proposals and Ambassador nominations. Funds needed to be moved from multi-sig to multi-sig depending on their purpose, with community multi-sig OP going to ambassador multi-sig for use executed by the ambassador (contingent on community vote). Hop DAO elects ambassadors to interface with other communities, namely Rocket Pool, Optimism, and Arbitrum thus far (Hop also received an airdrop from Arbitrum!).
After passing a roadmap 4 months back, the DAO has been focused on executing the specifics of it, like launching Hop on Polygon zkEVM Mainnet and offering bridging support for rETH to/from Optimism, Arbitrum, and Ethereum. More recent debate is around liquidity incentives. You can apply as a delegate here and see who delegates are receiving delegations from here.
Delegates to Watch
thegreg.eth: A long-time HOP user and early liquidity provider, thegreg.eth is one of the forum’s most prolific participants. As a LP for which Hop provides a percentage of the award, delegators are guaranteed that he will vote for actions that derive fair value to the HOP token. He also takes minutes for the community calls.
💩💩💩💩.eth: Frequent flyer on the forums and author of the last 5 proposals to go to temperature check, fourpoops, as they’re known, is committed to maintaining security with a focus on long-term growth and value creation (as opposed to flash marketing and short-termism). They’re a participant in 7 other DAOs and have a 100% voting participation rate on Hop!
maxandrew.eth: Another one of the forum’s most active contributors, Max is the Optimism Ambassador for Hop DAO and has a 100% participation rate. He’s a long-time user with significant contributions to Hop’s discussion on increasing token liquidity.
dybsy.sismo.eth: With a 100% voting participation rate, Dybsy is a testament to “Can’t stop the bunny.” A longtime Hop user, he brings experience from across disciplines–blockhain (since 2013), scifi writing, and a commitment to logic above all.
Don’t miss our Twitter Spaces with Aribitrum DAO on May 23 @ 12pm EST and with Hop DAO on May 25th @ 12pm EST.
⌛️ On-chain Proposals
On-chain DAOs are decentralized autonomous organizations that operate entirely on the blockchain, using smart contracts and other blockchain-based technologies for its operations and decision-making processes. Tally believes that true DAOs operate on-chain.
💚 Gitcoin
S18/S19 MMM Workstream Budget Request
Summary: ~$624k to fund the MMM in reaching their S18 and S19 overarching north-star goal: Repositioning Gitcoin as a tech-first organization.
Voting ends: May 24th
S18-S19 Gitcoin Public Goods Funding Workstream Budget
Summary: Successfully passed on Snapshot. ~$599k to fund the PGF through S18. Budget will go towards operating the Gitcoin Grants Program rounds with Core and Featured Rounds, as well as driving 13 Quadratic Funding rounds and supporting. the Passport workstream.
Voting ends: May 27th
🔴 Optimism
Summary: Inflation of the OP token is set to 2% per year by default, but can be adjusted by governance. This proposal would reduce inflation in Year 2 to 0%.
Voting ends: May 19th
Treasury Appropriation (Foundation Year 2 Budget Approval)
Summary: Since the Foundation has only spent 5.21% of its Year 1 OP operating budget so far, it does not need to request. budget for Year 2 but is symbolically requesting an additional 1 OP for Year 2.
Voting ends: May 19th
🟡 NounsDAO
🇧🇷 NFT.Brasil - Taking Over São Paulo and Celebrating the Brazilian Community 2
Summary: An adjusted version of last week’s failed proposal. Key changes include downsizing goals based on time feasibility, decreasing budget by turning the lounge into a booth, and lowering metaverse activation.
Voting ends: May 27th
📝 10 Things To Read or Listen To
📄 “DAOs are Dead! Long live DAOs!” by Florian Glatz
📄 “Trust at Scale: Verification Frameworks” by Stefan Deleveaux
📄 “DAOversity Report” by Francisco Díaz
📄 “Onchain” by Jacob Horne
🧵 “Thoughts on the Gitcoin beta round” by Kevin Owocki
🎧 “Do Aragon Association Members Get ‘Fat Salaries’ With ‘Zero Accountability’?” on The Chopping Block
🎧 “Diogo Monica and Nathan McCauley - The Story Behind Anchorage Digital and Crypto’s Leading Custodian” on I Pledge Allegiance
🎧 “The Regenaissance with Gnoman” on GreenPill
🎧 “How Web3 Empowers Independent Artists w/ Ibn Ingor” on Rehash
🎧 “Building a Network City w/ Jon Hillis” on On the Other Side
💫 DAO Talk: the DAOs new groove || DT weekly #40
🤭 Meme of the Week
DELEGATION WEEK IS THIS WEEK. LITERALLY. IT’S ALREADY STARTED. Hear from the big dogs like Arbitrum, Hop Protocol, ENS, Uniswap, Pool Together, and Gitcoin. Find out why you should delegate to delegate to student orgs. Get the state of delegation. And more. Full schedule here and all Spaces are happening on the Tally Twitter.
~ coolhorsegirl 🐴
p.s.- Speaking of Delegation Week, I’m moderating! Bit of CHG lore for you: my grandfather was a famous tv-radio host of “Polka Parade” in the 50s/60s. An artifact of its time, but I’ll be channeling his “radio voice” this week and we’ll see if it runs in the family. Spaces have gotta be the modern version of tv-radio, right?
