@dybsy @fourpoops @lefterisjp @thegreg.eth @Bob-Rossi I think the option for 50% on the snapshot vote is valid. I don’t think there is a way to edit an existing vote or cancel it, so what do you think the best path forward would be? I’d guess an “HIP-38 amendment” snapshot that expands the options, but not totally sure. What do you think?
According to Arbitrum governance, holding at least 1 million ARB is required to become a delegate
@Bernard I spent a decent amount of time looking into Arbitrum’s governance and I’m not sure this is correct (though I could be wrong). My understanding, according to the constitution, is that 1 million tokens are needed to create a proposal on Tally, not to become a delegate. Also, 0.01% of the voting supply (63,567,281.43 ARB, from my calcualtions) is needed to create a proposal on Snapshot. A wallet with any number of tokens can participate in any part of Arbitrum governance except for the above mentioned actions. Please let me know if I am missing something though.
If that is true, then a sale of less than 50% could result in the ability to create a proposal on Tally. In a sale of any amount discussed, the DAO has the ability to create a proposal on Snapshot. In any outcome, Hop DAO has the ability the participate in all other parts of the Arbitrum DAO.
I think it is fair to say the 50% sale is an arbitrary number so going down to just 674,014 ARB is not unreasonable
I would not say this number is arbitrary, but that might not have been clear in the original post. It was calculated by looking at the possible DAO expenses for 6 months and working backwards to land on the 50% number. It is just a coincidence that the resulting number was ~50%.
But if there is an advantage to selling 674,014 ARB why not do it? Would the amount of stables really be that different?
The advantage of selling less would be the ability to create a proposal on Arbitrum’s Tally page and additional voting power in Arbitrum’s DAO. The advantage of selling more would be more diverse and stable funds in the Hop DAO to establish a base for Hop DAOs ongoing runway.
After having dove into Arbitrum’s governance a bit, I’d like to provide some observations that might help better value the holding of the tokens. All of these are my personal observations and my be wrong, so please let me know if so.
- The Hop DAO has never voted on any of the Tally proposals or Snapshot proposals since owning the $ARB
- The Hop DAO is not delegating any of the tokens they currently hold
- The Hop DAO is not actively seeking delegation from other participants
With that said, I recognize all of those can change at any time and there is an ambassador program to help push it forward.
Hope that all makes sense! I’m fully aligned with the community and just want to provide concrete data (as I understand it) so that we can have a more focused discussion.