Governance Weekly Recap

Week of May 27, 2024

:ballot_box: Recent Proposals

  • Season 6: Intent Budgets

    • Summary: The Season 6 Intent Budgets proposal outlines strategic goals for the Collective, emphasizing decentralization, expansion of the Superchain, and increased developer engagement. The Foundation suggests a budget allocation to support these goals: 500k OP for decentralization efforts (excluding technical aspects), 6M OP for grants aiding OP Mainnet applications, and 12M OP dedicated to chain-specific grants to bolster the Superchain’s development. This comprehensive proposal aims to guide the Collective’s growth and governance through clear goals and allocated funding

    • Proposer: Optimism Foundation

    • Status: Succeeded

  • Season 6: Grants Council Operating Budget

    • Summary: The Season 6 Grants Council Operating Budget proposal, authored by Gonna.eth, requests a budget of 610,000 OP. This budget aims to fund multiple roles, including Milestones and Metrics Reviewers, an Ops Manager, and a Council Lead, to ensure a robust and efficient grants distribution process. The proposal highlights the importance of accountability and governance in the Optimism Collective, with compensation adjustments reflecting increased responsibilities. This proposal, which is part of Special Voting Cycle #23a, emphasizes sustained governance support to bolster the effectiveness of grants distribution【

    • Proposer: Optimism Foundation

    • Status: Succeeded

  • Season 6: Developer Advisory Board Renewal

    • Summary: The Token House’s proposal for Season 6 involves renewing the Developer Advisory Board (DAB). Delegates are asked to approve an operating budget via approval voting, with the highest-voted budget electing its proposer as Council Lead. Two proposals are in contention: Zach Obront’s budget of 90k OP and Ed Mazurek’s budget of 122k OP. If delegates do not support the continuation of the Board, they should decline to vote for any budget. The voting process allows casting votes for multiple options, but it’s recommended to vote for only one budget or abstain altogether if opposed to the Board’s renewal .

    • Proposer: Optimism Foundation

    • Status: Succeeded

  • Season 6: Code of Conduct Council Renewal

    • Summary: The proposal discusses whether to renew the Code of Conduct Council for Season 6 of the Optimism governance protocol. Delegates are tasked with deciding if an operating budget should be approved for the Council to manage the Rules of Engagement. The proposal suggests the election of Juan Carlos Bell as Council Lead with a proposed budget of 55k OP. If not approved, the supportNERDs will continue enforcing the Rules of Engagement. This decision will be made in Special Voting Cycle #23a

    • Proposer: Optimism Foundation

    • Status: Defeated

  • Protocol Upgrade #8: Changes for Stage 1 Decentralization

    • Summary: The proposal “Protocol Upgrade #8: Changes for Stage 1 Decentralization” aims to enhance the Optimism network’s security and decentralization. Key changes include raising the Security Council Safe’s signing threshold from 4 to 10 out of 13, reassigning the Guardian role to a new Guardian Safe under the Security Council Safe’s control, and designating the Foundation as DeputyGuardian. It also transfers the L2ProxyAdmin contract ownership from the Foundation to the Security Council, enabling the Security Council Safe to block L2 predeploy upgrades. This initiative, combined with Protocol Upgrade #7, is intended to meet the requirements for OP Chains to achieve Stage 1 status

    • Proposer: Optimism Foundation

    • Status: Succeeded

  • Protocol Upgrade #7: Fault Proofs

    • Summary: The proposal titled “Protocol Upgrade #7: Fault Proofs” aims to enhance the Optimism Mainnet by reducing trust assumptions through the introduction of permissionless output proposals and a fault-proof system. This upgrade eliminates the dependency on a privileged proposer for withdrawals, enabling a more decentralized process while maintaining security through a guardian’s override capability. The initiative, paired with Protocol Upgrade #8, targets achieving Stage 1 status for OP Chains. The associated contracts are available in the Optimism repository, designated as release candidate op-contracts/v1.4.0-rc.4. The proposal, eligible for Special Voting Cycle #23a, will proceed to a veto period in the Citizens’ House if approved by the Token House

    • Proposer: Optimism Foundation

    • Status: Succeeded

  • Governor Update Proposal #2: Improvements to advanced delegation allowance calculations

    • Summary: The “Governor Update Proposal #2” introduces enhancements to the Alligator allowance storage system to facilitate accurate voting power calculation in advanced delegation scenarios. This proposal aims to rectify issues where delegates may have less voting power than intended by enabling partial and sub-delegation for OP voters, thus improving overall governance effectiveness. If approved, the implementation will transition from the current governor proxy to a new one, with a specified address for deployment. The proposal is part of Special Voting Cycle #23a and, if passed in the Token House, will proceed to the Citizens’ House for a veto period

    • Proposer: Optimism Foundation

    • Status: Succeeded

  • Season 6: Intents Ratification

    • Summary: The Season 6 Intents Ratification sets high-level strategic goals for the Collective as it extends to the broader Superchain ecosystem. Proposed by the Foundation, these goals must be ratified by the Token House. Key intents include advancing decentralization through scalable and governance decentralization, expanding the Superchain by integrating more OP Chains, and growing the application developer community across all OP Chains to enhance demand-generating applications. This proposal aligns the Collective’s efforts with these strategic objectives to ensure sustainable growth and effective governance

    • Proposer: Optimism Foundation

    • Status: Succeeded

:writing_hand: Forum Highlights

  • Upgrade Proposal #9: Fjord Network Upgrade

    The forum post titled “Upgrade Proposal #9: Fjord Network Upgrade” by Roberto Bayardo, a core developer of the OP Stack from Coinbase, outlines a proposal for the Fjord network upgrade which aims to introduce the EIP-7212 precompile to reduce gas costs for smart wallet applications, implement Brotli batch compression to lower data availability costs by 5-15%, and improve L1 data pricing robustness. Key changes include increasing the max-sequencer-drift parameter and various technical optimizations. The upgrade, scheduled for July 10, 2024, also involves a comprehensive security review and fault-proofing strategies

  • Reclaim Protocol: Verified HTTPS Traffic for Privacy-Preserving Proofs

    The “Reclaim Protocol: Verified HTTPS Traffic for Privacy-Preserving Proofs” forum post announces the launch of Reclaim Protocol, a system designed to create verifiable claims while maintaining user privacy. The protocol, developed by YC W21, leverages HTTPS session keys to generate zero-knowledge proofs (zkproofs) of users’ identity and reputation, computed entirely on the client side. It works by routing HTTPS traffic through an Attestor proxy server that generates cryptographic signatures without exposing private data. The post details the secure and efficient mechanisms underlying the protocol, including user interaction with the Attestor, key sharing, zero-knowledge circuit usage, and third-party verification. An independent study from Purdue University validates the protocol’s security and efficiency, comparing it favorably to other models. The post concludes by inviting the community to engage with and integrate the Reclaim Protocol into their projects .

  • Discussion OP token on all Superchain

    In the forum post titled “Discussion OP token on all Superchain,” the author emphasizes the importance of integrating OP tokens across all Superchains to maximize the network’s potential. As of now, OP tokens are only available on the OP Mainnet despite the expansion to 13 superchains and 38 OP Stack chains. The post argues that uniform availability of OP tokens will enhance user awareness, boost adoption, and eliminate fragmentation, thereby fostering a more cohesive and effective superchain network. This standardization will improve interoperability and drive engagement and innovation, ensuring that the benefits of OP tokens are fully utilized across all chains, ultimately solidifying OP’s stature within the blockchain community. The author concludes that this strategic move will elevate the ecosystem by creating an integrated and dynamic environment that promotes greater success and innovation.

  • Retro Funding 4: Impact Metrics, a Collective Experiment

    In a recent forum post, the Optimism Collective introduced Retro Funding 4, focusing on using quantitative metrics for impact evaluation. This marks a shift from previous rounds which focused on voting for individual projects. Instead, badgeholders now select and weight metrics that measure impact across four key areas: network growth, network quality, user growth, and user quality. The post outlines the initial survey results, which highlighted a balanced interest in both quantitative growth and qualitative impact, and a significant preference for metrics related to innovation and open source. Concerns about the potential for gaming metrics were also noted. The workshop conducted further refined these metrics and the subsequent survey led to the implementation of additional trusted user models and new, standardized metrics. The next steps involve badgeholders testing these metrics in simulated environments, with final decisions expected after collecting and analyzing feedback

  • How is blockchain being appllied in supply chain management and logistics?

    The forum post discusses how blockchain technology is enhancing supply chain management and logistics. Blockchain enables real-time tracking of goods from production to delivery, ensuring traceability with unique digital identifiers that combat counterfeiting and verify authenticity. Additionally, blockchain streamlines processes through smart contracts, automating tasks such as payments and compliance checks, reducing paperwork and errors. This leads to improved efficiency by eliminating intermediaries and facilitating faster decision-making through real-time data sharing. The technology potentially revolutionizes supply chain operations by providing transparency, security, and efficiency advancements.

  • Launching the OP Citizen Dashboard | Superchain Eco

    SuperchainEco has introduced the OP Citizen Dashboard, a platform mapping all current OP Citizens and detailing their roles and retrospective rewards for RetroPGF3 review. This database will assist analysts in enhancing RPGF and Collective Governance by providing relevant insights. Future efforts include measuring concentration in the collective and optimizing voting design for Retro funding. The community is encouraged to provide feedback and follow development updates on social media platforms

  • Retro Funding 4: Application Review Process

    The forum post titled “Retro Funding 4: Application Review Process” discusses the processes for the fourth round of Retroactive Public Goods Funding (RPGF) organized by Optimism. Created on May 29, 2024, the post outlines the review process for applications, detailing the criteria and methodologies used to evaluate submissions. The forum entry also highlights community engagement and the importance of effective resource allocation to maximize the impact of funded projects.

  • TVL Growth of RPGF Grant Recipients

    The forum post discusses the impact of Retroactive Public Goods Funding (RPGF) grants on the Total Value Locked (TVL) of recipient protocols within the Optimism ecosystem. The analysis, conducted by blockchain analytics firm PYOR, highlights significant TVL growth for Aerodrome at 333% since January 2024, with SushiSwap also showing substantial growth at 217%. The findings aim to guide future funding by showing which protocols yield the best returns on investment

  • FAQ Retro Funding “Onchain Builders”

    In a forum post titled “FAQ Retro Funding ‘Onchain Builders,’” Liliop.eth extends gratitude to Jonass for integrating an FAQ section into the Retro Funding 4 discussion, emphasizing that projects do not need to be exclusively on OP Mainnet as Retro Funding is now available for other OP chains as well. She suggests refining the language for clarity, to avoid misinterpretation that being on OP Mainnet is unnecessary. The discussion also references a detailed description of eligible OP chains .

  • Developer Advisory Board Operating Budget

    Ed Mazurek proposes a structured operating budget for the Developer Advisory Board (DAB) for Season 6, emphasizing increased transparency and community engagement within the Optimism ecosystem. The proposal highlights Ed’s technical and community experience, stressing his alignment with Optimism’s values. Key goals include fostering dialogue and iterative governance improvements. The budget breakdown allocates 122,000 OP, with specific responsibilities for board members, such as publishing updates and facilitating protocol upgrades. Performance will be measured by both user experience and key performance indicators (KPIs), with aspirations for enhanced community participation and accountability .

  • Open letter to Polynya

    In an open letter on the Optimism forum, Jack Anorak addresses Polynya, acknowledging their diminished active participation in the industry but highlighting their substantial influence through a significant OP delegation. Jack queries Polynya’s intentions regarding their future involvement in Optimism and their plans for managing their powerful voting position .

  • Optimism post RPGF analysis

    The forum post titled “Optimism post RPGF analysis” discusses an exploratory data analysis conducted by PYOR on the performance of DeFi protocols that received funding from Optimism’s Retroactive Public Goods Funding (RPGF) in January 2024. The analysis aimed to provide insights to optimize future funding decisions, focusing on total value locked (TVL), fees, volumes, and user activity as key metrics. Highlights from the analysis include significant growth for Aerodrome in TVL, fees, and DEX volume, while protocols like Yearn and Sonne Finance showed a decline in TVL. Bridges, including Hop and Synapse, reported substantial increases in deposits and fees. The post concludes by seeking community feedback to enhance the RPGF program and outlines PYOR’s background in blockchain analytics

  • Daily Active Users on-chain

    In a recent forum post titled “Daily Active Users on-chain,” Aadarsh Pincha from PYOR analyzed the surge in active users for the Optimism blockchain. The post highlights that daily active users have risen by an impressive 140.5% since the beginning of the year. Breaking down the user growth month-by-month, January saw a 12% increase, February experienced a surprising 20% decline, March rebounded with a significant 60% increase, and April continued the upward trend with a 48% increase. PYOR, a blockchain analytics firm, leverages its proprietary data products to deliver high-fidelity insights to institutions such as Ribbit Capital, M31 Capital, and Compound. The detailed statistics and further insights are available on their Twitter handle

:newspaper: Stakeholder News

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

:ticket: Upcoming Events

  • TechNERD Meeting: Tuesday June 4, 2024: Link
  • Office Hours: Wednesday June 5, 2024: Link
  • Token House Community Call: Tuesday June 4, 2024: Link
  • SuperChain Demo Day: June 6, 2024: Link
  • Optimism Ambassador Chat: June 7, 2024: Link

:crystal_ball: Upcoming Votes

No upcoming proposals