11 Polls Closing December 18, 2024
Onchain Treasury Transfer Cancellation Test
Summary: This poll is a test of the emergency cancellation measure for malicious or erroneous funds transfers.
Recommendation: Vote For. This is a test of the emergency cancellation functionality.
Upgrade Proposal #11: Holocene Network Upgrade
Summary: This poll asks OP holders if they support implementing the Holocene Network Upgrade.
This upgrade includes several components, the first of which is a change to block derivation. Span batches will now be strictly ordered, and invalidation occurs only from the point of invalidity, allowing for partial span batch validation.
It also adds EIP-1559 configurability.
The final change is a simplification of fee scalar configuration.
Recommendation: Vote For. The changes to derivation are primarily focused at removing code that appears to be unnecessary based on experience, and simplifying the code base in this area. From a practical standpoint, this places more emphasis on the Sequencer to keep the chain running smoothly, but does not empower the Sequencer with anything it does not possess today. OP Labs has communicated that the Sequencer software already is capable of handling this increased burden.
EIP-1559 allows for elastic gas limits, which scale costs towards a target. This was developed at the request of other OP stack operators, and we’re not sure we understand the argument that Optimism itself needs or wants this change, but will defer on this subject since it should not impact Optimism until/unless a future proposal changes the parameters for this.
More generally, only one portion of this update was audited. This is consistent with the OP Labs Audit Framework, but is still not a best practice, and is a clear case of being pennywise and pound-foolish. We would support governance stepping in to provide audit subsidies to developers authoring network upgrades if OP Labs and OP Foundation feel they cannot afford to audit every upgrade by default.
Season 7: Intent Ratification
Summary: This poll asks OP holders if they support ratification of a single Intent for Season 7, which is encouraging and improving interoperability. Formally:
A set of interoperable Stage 1 chains doing $250m per month in cross-chain asset transfers.
Recommendation: Vote For. Optimism has bet the farm on interoperability. Supporting that should be the top priority.
[Season 7: Anticapture Commission Amendment
](Season 7: Anticapture Commission Amen...)Summary: This poll asks OP holders if they support amending the Anticapture Commission charter. Full details can be found here.
Recommendation: Vote For. These changes seem acceptable, and from a practical perspective will not alter much, except requiring the ACC participate in discussions where the Citizens’ House may consider a veto. In the future, providing a budget for the ACC, rather than relying upon retroactive funding, would be preferred.
Season 7: Grants Council Operating Budget
Summary: This poll asks OP holders if they support a Grants Council operating budget of 400,000 OP. Of that, 50,000 OP is a reserve budget, in case demand is high and additional reviewers are needed mid-Season.
This is a 210,000 OP reduction from Season 6, mainly in response to a smaller number of total reviewers, and splitting the Milestones & Metrics Subcommittee out into its own structure.
Recommendation: Vote For. This budget is, on a per-item basis, in line with expectations, and does not present any major surprises.
Season 7: Developer Advisory Board Operating Budget
Summary: This poll asks OP holders if they support a DAB operating budget of 190,000 OP.
This is a 100,000 OP increase from Season 6. The difference is largely driven by the addition of two new roles to aid with Foundation Missions, and modest increases to the compensation of all members in OP.
Recommendation: Vote For. The DAB has generally demonstrated a high level of usefulness, both to the Grants Council, and in community understanding and evaluation of protocol upgrades.
Season 7: Milestones and Metrics Council Operating Budget
Summary: This poll asks OP holders if they support a M&M operating budget of 170,000 OP.
Recommendation: Vote For. This is the first time the M&M has been under its own budget, so there is little to compare it to. The total combined budgets of the M&M and the Grants Council is still less than the total last season, which suggests that it is reasonable. Even if there is additional cost in spinning it out into its own body, there is a strong argument that the M&M should be independent of the Grants Council, since it is in many ways checking the work of the Grants Council’s chosen grantees.
Code of Conduct Council Dissolution Proposal
Summary: This poll asks if OP holders support dissolving the Code of Conduct Council.
Recommendation: Vote For. While we think the CoCC held value as a contribution path for junior members of governance, we agree that it is unnecessary and governance can be minimized in this area.
Season 7: Security Council Operating Budget [Onchain]
Summary: This poll asks if OP holders support an operating budget of 295,000 OP for the Security Council.
This is around 200,000 OP increase from the previous Season, which was funded by the Foundation.
The proposal will execute on-chain to the following multisig address: 0x42415E7D47Fb8080eb42f870BC2e04Ab0852a264
Recommendation: Vote For. The Security Council should answer to governance, so it needs to be funded by governance, rather than the Foundation.
Grants Council Mission [Onchain]
Summary: This poll asks if OP holders support transferring 10,000,000 OP to the Grants Council for the purposes of funding grants supporting the Season 7 Intent. The Grants Council would have full discretion in executing this mission.
This is an 8,500,000 reduction in grants budget from Season 6.
The proposal will execute on-chain to the following multisig address: 0x1795652665fAa2dfeF9865544ae8D3c65f9643A8
Recommendation: Vote For. This is the first time that the Grants Council will directly control funds it grants. The budget is smaller, which mostly reflects the decision not to continue the Superchain Grants program from Season 6.
Decision Market Mission [Onchain]
Summary: This poll asks OP holders if they support providing 500,000 OP to support projects utilizing the Decision Market. Butter, the Uniswap Foundation, and the Optimism Foundation are ineligible.
The proposal will execute on-chain to the following multisig address: 0x1795652665fAa2dfeF9865544ae8D3c65f9643A8
Recommendation: Vote For. It’s not entirely clear how these funds will be distributed, except that it will be done algorithmically, tied to market outcomes. It would be nice to know more about what that algorithm will look like, but it’s recognized that some liquidity or incentives will be needed to seed this decision market experiment. Whether it succeeds or fails will inform whether further funding is warranted in the future.