Arbitrum

The ADPC (ArbitrumDAO Procurement Committee) has the immediate mandate of overseeing the ‘Procurement Framework for Security Service Providers’ recently ratified on by the ArbitrumDAO.

The ADPC may add additional procurement frameworks if ratified through Snapshot.

The committee will research and propose a subsidy fund for security-oriented services within the Arbitrum Ecosystem. A ‘Means Test’ will be implemented to determine project eligibility for security service-fee subsidies.

The ADPC will establish procurement frameworks for various verticals and service types within the ArbitrumDAO.

Three members will be elected to the ADPC through Snapshot’s weighted voting system.

Eligibility criteria for members include experience, integrity, conflicts of interest disclosure, industry knowledge, analytical skills, financial acumen, communication skills, negotiation skills, project management abilities, ethical conduct, teamwork, technology proficiency, and decision-making skills.

The election process involves application submission, KYC/KYB review, and member election via Snapshot.

The ADPC’s term is 6 months, with a monthly stipend of 7,500ARB for each of the [3] elected members.

Operational parameters include meeting minutes, monthly reports, bi-weekly calls, and a public dashboard.

The ADPC’s Multi-Sig will be a 3/5, with signers receiving 1,000 ARB per month for their services. Signers cannot be Procurement Committee members.

Streaming of funds and clawback capabilities are implemented for multisig accountability.

The ADPC will be regulated via an Agreement with the Arbitrum Foundation.

The Agreement will cover appointment, conflict of interest, mandate, record-keeping, duty of impartiality, recusal, self-dealing prohibition, and ethical trading standards for ADPC members.

Please see forum discussion for full details

Voting Options:

Option A: Establish the ArbitrumDAO Procurement Committee Option B: Do not Establish the ArbitrumDAO Procurement Committee Option C: Abstain