gm! This is an important question.
The Token House is responsible for a broad set of governance decisions listed in the Operating Manual under “Valid Proposal Types.”
To date, the Token House has only focused on the first proposal type – allocations from the GovFund. But the Token House is also responsible for protocol upgrades, inflation adjustments, treasury appropriations / Foundation budget, and Director removal. These responsibilities are super important to the future of Optimism.
These additional proposal types will come online as we continue to iterate through seasons. Notably, Season 3 will include the first vote on a protocol upgrade for the upcoming Bedrock release.
As a personal opinion, I’d also add that the voting power to establish grants council budgets, membership, renewal, scope, etc is a much higher-leverage decision that voting on individual grants themselves.