L2BEAT Delegate Communication Thread

🗳Meta-Governance
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Intro

Firstly, allow us to introduce ourselves for anyone who isn’t already familiar with L2BEAT.

L2BEAT is an independent, public goods company who acts as an impartial watchdog for the Ethereum Layer2 ecosystem. Our mission is to provide comprehensive and unbiased analysis and comparative evaluations of Layer 2 solutions . We are committed to the verification and fact-checking of the claims made by each project, with a special focus on the security aspects. What sets L2BEAT apart is our unwavering commitment to delivering accurate and reliable information.

In addition, L2BEAT has a governance team (@Kaereste and @Sinkas) which actively participates in constructive discussions of specific protocol challenges and issues, fostering the discourse toward increasingly permissionless, open source, and trustless systems. Our participation in various DAOs and public debates reflects this commitment.

For more information on L2BEAT and our participation in Hop’s Governance, please refer to our delegate profile on Tally..

Delegate Communication Thread

To promote transparency and communication as delegates, we’ll be regularly updating the below thread with our actions in the governance of Hop. Our updates will include how we voted for different proposals and our rationale.

Update #1

Voting

[Snapshot] (HIP-37) Authereum Labs Engagement Adjustment - Voted FOR

We voted in favour of adjusting the compensation to be received by Authereum Labs since they were able to provide their services with a smaller team than expected, and, by extension, at a lesser cost.

[Snapshot] (HIP-38) Treasury Diversification - Voted FOR

Even though we believe there should be a more holistic approach to treasury diversification, we understand the risks associated with being overly exposed to a single asset and as such we voted in favour of the proposal.

[Tally] (HIP-38) Treasury Diversification - Voted FOR

We also voted in favour of the proposal during the subsequent on-chain vote.

[Snapshot] (HIP-39) Community Multisig Refill - Voted FOR

The community multisig should always have at least a couple of months’ worth of expenses and as such we voted in favour of the proposal to refill it.

[Tally] (HIP-39) Community Multisig Refill - Voted FOR

We also voted in favour of the proposal during the subsequent on-chain vote.

Discussions

Hop Grants Committee Renewal and Redesign

We participated in the discussion around the renewal and redesign of the Hop Grants Committee and invited the community to our office hours (which happen every Friday at 4pm UTC/11am EST) to discuss it further.

L2BEAT’s Hop Office Hours

To further our communication with our constituents and any interested party in the community, we’ll be hosting recurring Office Hours on Google Meets.

The office hours will be held every Friday at 4pm UTC/ 11am EST

During the Office Hours, you will be able to reach L2BEAT’s governance team, which consists of Kaereste (Krzysztof Urbanski) and Sinkas (Anastassis Oikonomopoulos) and discuss our activity as delegates.

The purpose of the office hours is to gather feedback from the people who have delegated to us, answer any questions in regards to our voting activities and rationale, and collect input on things you’d like us engage in discussions about.

You can add the L2BEAT Governance Calendar in your Google Calendar to find the respective Google Meets links for every call and to easily keep track of the Office Hours, as well as other important calls and events (e.g. voting deadlines) relevant to Uniswap that L2BEAT governance team will be attending or hosting.

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Update on what we’ve been up to between December 2023 and April 2024:

Voting

[Snapshot] Treasury Diversification & Protocol Owned Liquidity - Voted FOR

We voted in favor of the proposal during temp check, but we raised our concern that increasing the liquidity might potentially open up the DAO to a governance attack. After discussion with other delegates, we realized that the threat of a governance attack wasn’t as immediate as we calculated it to be. As a result, we also voted in favor of the proposal during the subsequent on-chain vote.

[Snapshot] Incentivize Hop AMMs on Supported and Upcoming Chains - Voted FOR

We voted in favor of the proposal during the temp check as we found it reasonable.

[Snapshot] Hop Community Moderator Compensation - Voted FOR

We voted in favor of the proposal to both retroactively reward the moderator team and establish the Lead Community Moderator role.

[Tally] Community Multisig Refill (4) - Voted FOR

In a previous vote, we mentioned that we’d only be posting a rationale in case we vote against. These multisig refill proposals are more of a procedural vote than anything that needs to be debated most of the time.

[Snapshot] Treasury Diversification for Ongoing DAO Expenses - Voted FOR

We voted in favor of the proposal while also suggesting that it’s worth investing some time and effort in creating a more holistic approach to treasury management. We also supported the proposal during the on-chain vote since there has been a working group created since the temp-check that will work on a treasury management framework.

[Snapshot] Head of DAO Operations Election - Voted FOR

There was only 1 applicant for the Head of DAO Operations role so it was more of a vote of confidence. Since we believed the role was and is needed, we voted in favor of establishing it.

[Snapshot] Renewal of Hop Delegate Incentivization Trial (Third Cycle) Voted FOR

While we voted in favor of the proposal during temp-check, we expressed our wish to see a simpler way of tracking delegates’ participation. We also believe that gas reimbursements should be denominated in ETH and not in HOP. We’d like to see those things addressed in the proposal before the on-chain vote.

Discussions

We participated in the discussion around the creation of a Treasury Management Framework (TMF) which are being led by @0xLev1. Although not financial experts, we believe our experience as professional delegates can help create in creating a TMF that reflects a DAO’s needs.

L2BEAT’s Hop Office Hours

We want to remind everyone that we host recurring Hop Office Hours on Google Meets every Friday at 3 pm UTC/ 11 am EST.

During Office Hours, you will be able to reach L2BEAT’s governance team, which consists of Kaereste (Krzysztof Urbanski) and Sinkas (Anastassis Oikonomopoulos), and discuss our activity as delegates.

The purpose of the office hours is to gather feedback from the people who have delegated to us, answer any questions in regard to our voting activities and rationale, and collect input on things you’d like us to engage in discussions about.

You can add the L2BEAT Governance Calendar in your Google Calendar to find the respective Google Meets links for every call and to easily keep track of the Office Hours, as well as other important calls and events (e.g. voting deadlines) relevant to Uniswap that L2BEAT governance team will be attending or hosting.