Token House Call: September 24th, 2024
Recording: September 24th, Token House Call recording
Slides: September 24th, Token House Call slides
- Retro Funding 6: Governance - Round details:
- Sign up starts on September 26th until October 28th.
- The Foundation is assigning a minimum OP Amount for the round of 1.1M OP and a maximum OP amount of 3.5m OP. Citizens will be able to vote for an OP amount within the range of minimum and maximum which they believe appropriately rewards the impact within the round.
- Retro Funding 5: Application Review Process & Round Sizing Update:
- You can find the results here, including reason for rejection from the reviewers.
- Citizens will vote on the round’s OP allocation within the rounds voting experience. The Foundation is assigning a minimum OP Amount for the round of 2M OP and a maximum OP amount of 8m OP, the initial token allocation was of 8M OP. The voting process will start on September 30th.
- Cycle 27 Grants final roundup:
- New Mission Requests that reached quorum are now live.
- Cycle 27 GC Public Database
- Cycle 28 Grants Council Audits implementation:
- This new process aims to streamline audit requests by enabling eligible auditors to directly apply for specific audits, drawing from the mission request budget without the need for pre-approved budgets. Read the forum forum post for more information on how it works.
- Accelerated Decentralization Proposal For Optimism & Foundation response:
- This proposal suggests transferring governance control from the Foundation and OP Labs.
- This plan is divided into three phases of decentralization, to be completed by summer of 2025.
- Phase I: involves transferring ownership of the OP token contract, governance contract, and governance fund, along with 15,397 ETH collected for the benefit of Optimism governance, to governance control.
- Phase II: will transition control of the L1 Bridge escrow to governance and introduce a roadmap for decentralizing the sequencer. The Law of Chains will also be revised by governance.
- Phase III: will complete the decentralization, transferring full control over the Optimism protocol to Token House, Citizen’s House, and other governance bodies, alongside disclosures of all Foundation grants and full sequencer decentralization.
- This is not a governance vote, you can signal your approval on this Snapshot petition. This is meant to help inform the Foundation on the level of support for these items as they prepare their own plan to present.
- The Foundation reaffirmed its commitment to gradual, secure decentralization, emphasizing a long-term approach over speed. It agrees with the need for full decentralization but emphasizes that this process must be done carefully and gradually to ensure the system’s long-term security and resilience.
- During the community call, many participants shared their opinions and concerns on this topic; this is an ongoing discussion so all citizens are encouraged to read both the proposal and the Foundation’s response, and share their thoughts!
