Governance Weekly Recap

Updates and Announcements 📢 Governance Updates
71

Week of May 20th, 2024

:ballot_box: Recent Proposals

Special voting cycles are active, under the special voting cycles multiple proposals dealing with the protocol upgrade and grants council ratification are up for vote.

  • Protocol Upgrade #4
    • Summary: This proposal introduces a SuperchainConfig contract and enhances the pausability mechanism, improving the security of the Optimism ecosystem. Key updates include fixing issues in OptimismPortal and L1CrossDomainMessenger, supporting custom token decimals, and using CREATE2 for unique token addresses. The upgrade, audited by Trust Security, aims to enhance incident response capabilities, ensuring robust protection of user assets during upgrades.
    • Proposer: Optimism Foundation
    • Status: Voting in Progress
  • Season 6: Intent Budgets
    • Summary: The Season 6 Intents Ratification sets strategic goals for Optimism, focusing on decentralization, expanding the Superchain, and enhancing developer engagement. Key actions include integrating more chains, developing robust data infrastructure, and increasing community participation. The proposal aims to align the collective’s efforts with these intents, ensuring sustainable growth and effective governance through clear, actionable goals and associated budgets.
    • Proposer: Optimism Foundation
    • Status: Voting in Progress
  • Governor Upgrade #1: Improve advanced delegation voting
    • Summary: This proposal simplifies the voting process for delegates with advanced voting power by reducing the number of required transactions from two to one. The update aims to enhance user experience based on feedback from affected voters. Audited by OpenZeppelin, the change ensures security while making voting more efficient, thereby improving overall governance participation within the Optimism ecosystem.
    • Proposer: Optimism Foundation
    • Status: Voting in Progress
  • Season 6: Grants Council Operating Budget
    • Summary: The Season 6 Grants Council Operating Budget proposes a total of 610,000 OP for various roles, including Milestones and Metrics Reviewers, Ops Manager, and Council Lead. The budget aims to enhance accountability and efficiency, ensuring effective grant distribution. Compensation adjustments reflect the increased responsibilities and the need for sustained governance support.
    • Proposer: Optimism Foundation
    • Status: Voting in Progress
  • Governor Update Proposal #2: Improvements to advanced delegation allowance calculations
    • Summary: This proposal refines the Alligator allowance storage system to ensure accurate calculation of voting power in complex delegation scenarios. It addresses issues where delegates using advanced delegation might have less voting power than intended. The update, audited by OpenZeppelin, improves delegation flexibility and accuracy, enhancing the overall governance experience without affecting existing contract logic.
    • Proposer: Optimism Foundation
    • Status: Voting in Progress

:writing_hand: Forum Highlights

  • Season 6: [DRAFT] Standard Rollup Charter

    The draft Standard Rollup Charter for Season 6 establishes criteria and policies for high-security blockspace products in the Optimism Collective. It includes onchain criteria for version, configuration, and solvency checks, along with offchain checks by the Optimism Foundation. Governing policies address issues like sequencer censorship and fee margins, ensuring compliance with the Law of Chains and promoting sustainable, secure blockchain development.

  • Superchain and the Monolithic Experience: A Cross-Chain Guide for Superchain

    This comprehensive guide by Delphi Digital explores cross-chain interoperability for the Optimism Superchain. It examines key stakeholders—users, dApp builders, and chain builders—and their interoperability needs. The guide evaluates various approaches, such as shared sequencing and zk-aggregation, and their trade-offs, recommending strategies to enhance cross-chain functionality and achieve a seamless monolithic experience.

  • FAQ Retro Funding “Onchain Builders”

    The FAQ for Retro Funding 4 addresses questions for “Onchain Builders,” clarifying eligibility criteria for projects on OP Mainnet and other supported chains like Base, Zora, Mode, Frax, and Metal. It emphasizes that deployment on OP Mainnet is not mandatory, expanding funding opportunities across the Superchain. This FAQ aims to provide clear guidance for developers seeking retroactive funding within the Optimism ecosystem.

  • Optimism post RPGF analysis

    PYOR’s analysis of Optimism’s Retroactive Public Goods Funding (RPGF) assesses the performance of DeFi protocols that received funding in January 2024. Key findings include significant growth for Aerodrome, moderate success for SushiSwap, and poor results for Yearn and Sonne Finance. The analysis aims to guide future funding decisions by highlighting which protocols provide the best return on investment, ensuring Optimism’s resources are allocated effectively.

:newspaper: Stakeholder News

The list represents the most recent posts on Delegates category on Forum for the coverage week, and not the list of top delegates by voting power

Delegate Communication Thread
Anthias Labs Anthias Labs - Delegate Communication Thread
Latruite Latruite - Delegate Communication Thread
PGov PGov - Delegate Communication Thread - #12 by PGov
SEEDLatam SEED Latam - Delegate Communication Thread - #40 by Joxes
Gene Gene - Delegate Communication Thread - #2 by FractalVisions

:ticket: Upcoming Events

  • TechNERD Meeting: June 4th, 2024: Link
  • Office Hours: June 5, 2024: Link
  • SuperChain Demo Day: June 6, 2024: Link
  • Optimism Ambassador Chat: May 31, 2024: Link

:crystal_ball: Upcoming Votes

8 Proposals live at the time of writing this report, no upcoming proposals detected

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