2 Polls Closing October 30, 2024
Governor Update Proposal #3: Enable Onchain Treasury Execution
Summary: This poll asks OP holders if they support moving the treasury to onchain execution rather than management by a multisig. This new capability extends only towards OP portion of the treasury.
This includes 3-day timelock; audit report can be found here.
Recommendation: Vote For. This is a tiny step, and certainly not sufficient to satisfy ourselves or the other delegates who, combined, signed a petition to accelerate decentralization. 17,000,000 OP currently stands in support of that petition. This proposal still requires Foundation permission to post a proposal, allowing them to keep a de facto veto. It also does not address the much more valuable ETH owed to governance.
Overall, we find it disappointing that this appears to be the single item granted (if it even counts, given the permissioned nature of how it will work) on the extensive list that delegates requested. It’s beyond frustrating that Foundation feels the need to oversee governance spending, but governance is not allowed to oversee Foundation spending. It’s also ironic, given that governance is by far the smaller spender of OP tokens.
Season 6: Standard Rollup Charter Ratification
Summary: This poll asks OP holders if they support ratifying changes to the Standard Rollup Charter (full text found here).
Recommendation: Vote For. We don’t think this charter is as clear on some points as it should be, such as revenue sharing details, but we also acknowledge that it is an aspirational document, and has no legal, social, or other binding obligations on governance. Just like the Law of Chains more broadly, these are more guidelines to begin and maintain conversations with potential partners, and to our reading, in no way constrains the degrees of freedom of Optimism governance.