Governance Update #10

Updates and Announcements 📢 Governance Updates
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Governance Update #10

We’re now at the mid-point of Season 7 (!) and wanted to update the Collective on the progress made towards our Decentralization Milestones. The Foundation is available to join any calls with the ACC, or hosted by the ACC, to discuss further if the community is interested.

Season 7

In Season 7, we’re focused on the below milestones or dependencies.

See Decentralization Milestones

All milestones or dependencies highlighted in yellow (and, in the case of dependencies, bolded) are focus areas for Season 7.

Technical Layer

All Milestones in Phase A are completed. The first Milestone we are gradually working towards in Phase B is:

  • Stage 1 + multiple proof systems running

Economic Layer

All Milestones in Phase A are completed. We are now working to reduce the dependencies between Phase A and B:

  • Measureable & standardized ROI for grant programs
  • Initial set of Superchain partners onboarded by Foundation
  • More automated/scalable grant processes
    • Our Futarchy Experiment analyzes different decision making methods used to make scalable selections about grant recipients
    • The Milestones and Metric Council distributed the first wave of grants, successfully transitioning Governance Fund grant delivery over to the community
    • The Collective Multisig Policy established security guidelines as we transition more control over to community-managed multisigs in Season 7 and Season 8
  • Budgeting framework
    • See “Looking Forward to Season 8” below
  • Financial forecasting ability
    • See “Looking Forward to Season 8” below

Social Layer

A few Milestones remain to be completed in Phase A.

  • Greater than 25% tokens circulating; Cost of attack > 50M OP (target subject to change)
  • Foundation proposes, Citizens approve
  • Confidence in gridlock resistant veto mechanism
    • @elizaoak has conducted research on this throughout Season 7, and we expect to make changes to joint house voting mechanisms and processes in Season 8 as a result
  • More developed Internal Dev Experience
    • Work in progress
  • Core dev program development
  • Public roadmaps
  • Public R&D Discord
    • Up and running (Invite only)
  • Defined Optimism design process
    • Work in progress. The Foundation has met monthly with the CFC to share more insight and context into our design process.
  • High context group of contributors
    • Collective Feedback Commission Next Iteration outlines an experimental, attestation-based selection method used to select Season 7 members. We plan to experiment with this selection method further, for non-elected positions, in Season 8.
    • The CFC has worked with the Foundation on several projects included user testing for Retro Funding Algorithms and the Futarchy Mission, and drafting ETH Staking and Budget Board proposals.
  • Permissionless proposal rights w/ Foundation veto
    • Engineering work starting soon: draft spec here

We made progress towards more operational autonomy with the onchain transfer of the Governance Fund Missions to the Milestone and Metrics Council as well as the onchain transfer of an Operating Budget to the Security Council.

This fits into the broader System Diagram as outlined below:

Vision

The entire Collective has aligned around one Collective Intent, with measurable Success Metrics! The way the north star is determined will continue to evolve in future Seasons.

Impact Evaluation

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  • Measurable Outcomes: Retro Funding is experimenting with data driven, human-in-the-loop Retro Funding Missions
    • You can track rewards here
  • Qualitative Outputs - The Milestones and Metrics Council will gradually take on more responsibilities in verifying outputs starting in Season 7.

Selection Mechanism

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  • We experimented with alternate selection methods via our Futarchy Experiment (summary thread here)
  • A retrospective on this experiment, and more about v2, will be published once the experiment ends (June 11th)

Who Should be a Citizen

Looking Forward to Season 8

  • The Milestones and Metrics Council will not be elected in Season 7. We will experiment with alternate selection methods, subject to ratification by governance, for the M&M Council in Season 8 as we gradually transition executive function Councils or Boards to non-elected selection methods.
  • The DAO will manage the delivery of all Council Operating Budgets, instead of the Foundation
  • The Budget Board will bring us closer to many milestones in the Economic Layer (see below)

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Appreciated the update, it’s helpful to see how things are moving forward with the long-term vision in mind.

This is a point that excites us greatly looking ahead to the next season, and we’re eager to learn more details. Over how many seasons can we expect to see these alternative methods fully implemented?

Just a heads-up, the following links might need a check since they don’t redirect anywhere:

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