Week of December 5, 2022
Summary
There are two important proposals up for voting. These two have seen record voter engagement so far, with over 20k wallets participating at the time of writing. Voting ends on December 21.
Also important: Optimism governance will be transitioning to on-chain voting for Season 3.
And even more important! The Optimism Foundation recently announced the first iteration of the Citizens’ House.
Related: Token House badge-holder nominations are due by December 14 (20:00 UTC).
Proposals
Grants Council (Snapshot | Discussion). This proposal intends to establish a Grants Council — made up of a council lead working together with eight reviewers — to manage the Governance Fund proposal process. Governance Committees will no longer be in place; instead the Council “will have full decision making authority as to which grants are made.” If this proposal is approved, the Optimism Foundation will select the Council Lead while delegates will vote for the eight council reviewers (who must self-nominate). Reviewers on the Council will be split into two sub-committees: The Growth Experiments Sub-Committee and the Builders Sub-Committee. The Council will have a total seasonal budget of 5 million OP; budgets will need to be approved by delegates each season — if the Council itself proves a worthwhile evolution of Optimism governance.
Protocol Delegation Program (Snapshot | Discussion). This proposal seeks to address the controversial protocol self-delegation issue by temporarily delegating a certain amount of “idle” tokens from the Governance Fund to protocols according to a specific criterion. This criterion is “designed to be simple, objective, not easily gameable, and applicable across protocols”: total gas fees generated on Optimism during the preceding Season. Multipliers and certain other important conditions detailed in the proposal. The maximum amount of OP a protocol can be delegated is 2 million (e.g. if a protocol already has 2 million in delegated OP, they will not receive any more through this program). Up to 15 protocols will be selected according the above criterion. An additional eight protocols may self-nominate to receive delegated OP; those self-nominating protocols will be voted on in Voting Cycle #9b — should this proposal pass.
In the Forums
Delegate commitments. Six new ones have been posted since last week.
L2BEAT’s new Governance Delegate is @kaereste.
Voting power grant proposal. @Jadmat suggests a framework for proposers who want to self-delegate granted OP.
More on on-chain. @rshuel from a16z provides insight about on-chain governance.
In Discord
Data from a Dune dashboard will be used to identify the protocols eligible for the delegation program (see proposal above).
On Twitter
This week in Optimism. It was a big one.
Gitcoin hosted a Twitter Spaces convo about Optimism’s retroPGF round.
And a thread on the same RPGF Round 2 by the Optimism Foundation.
Governance Calls
Check out the recap of last week’s call, together with a recording. Many thanks to @Jrocki for hosting.
Quick Gov Links: Working Constitution | Operating Manual v0.2 | Proposal template | Delegates | Snapshot | Optimism on Boardroom