Arbitrum DAO - DAO Core contd.
Multisig Support Service (MSS)
The Arbitrum MSS was created as a structured multi-sig framework to facilitate funded programs within Arbitrum DAO to reduce operational spend and increase proposal efficiency. The proposal aims to unlock significant cost-saving opportunities, lessen committee fragmentation, ensure signers are competent with multisigs, and reduce friction for contributors creating proposals. The MSS will comprise 12 elected individuals to all DAO-funded multisigs. They will be compensated a base USD amount, paid in ARB, for performing these services across the DAO. The proposal requested 600k ARB (~$314k) to cover 1 year of operations, and included a fee allocated to r3gen Finance to prepare a monthly token flow report.
Balance in Wallet ARB600k USD308k Surplus / (Shortfall) to pay Roles (USD24k)
MSS USD Budget
Total Annual Budget
Roles Monthly Fee
MSSChairs
3
2,500
90,000
MSS Signers
9
1,500
162,000
r3gen Token Flow Report
1
6,650
79,800
TOTAL
10,650
331,800
The MSS has not sent any funds yet, with the first transaction occurring in September 2024. It is worth noting that at a 31 August 2024 exchange rate of $0.5133 / ARB, the 600k ARB held was worth $308k vs. the total budgeted spend of $332k, representing a shortfall of $24k.
Entropy Advisors: Exclusively Working With Arbitrum DAO
The DAO voted in favor of funding Entropy Advisors with 4.5M ARB (~$2.47M) to work exclusively with the Arbitrum DAO for one year. During this period, Entropy aims to deliver strategic proposals, guide key partners through the DAO processes, and align the priorities of essential stakeholders for the betterment of Arbitrum.
USDBudget
ARBBudget
Salaries
1,960,000
3,570,850
Legal, Insurance & Accounting
90,000 105,000 21,000 70,000
163,968 191,296 38,259 127,530
Conference Travel, Offsites, & Small Events
Software
Other / Miscellaneous Operating Budget Margin / Contingency
2,246,000
4,091,903
224,000
408,097
TOTAL BUDGET
2,470,000
4,500,000
Bonus
823,333
1,500,000 6,000,000
TOTAL BUDGET INCLUDING BONUS
3,293,333
The proposal included a potential 1.5M ARB bonus to be decided on by a Snapshot vote, as well as outlined a reduced initial claim while they scale-up their team. To date, the multisig address in the proposal has received 6M ARB but has not processed any transactions. While the DAO has the ability to clawback funding, we have deemed the full amount to have been spent as it has been sent to an externally-controlled wallet. Any funds returned will be highlighted in future reports.
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