Arbitrum

Abstract

This proposal aims to streamline the LTIPP bounty process by allowing the LTIPP council more autonomy in choosing who completes each bounty. This will help create a faster-moving selection system with more accountability, allowing the DAO to gather more insights into the results of the incentive campaigns.

Motivation

The LTIPP proposal included up to 200,000 ARB available for research on STIP, the Backfund, and the LTIP Pilot Program. The bounties guarantee the DAO will have multiple teams working on providing meaningful conclusions regarding the incentive programs. These conclusions will be essential to allow the DAO to possess all the information necessary to create the best possible long-term incentive framework. However, in its current format, it will take multiple months and many DAO votes to decide who will complete each bounty. This proposal aims to streamline that process so that more teams can research Arbitrum Incentives programs in a timely manner. By allowing the LTIPP council more freedom in using the bounty funds, we can move faster to start the bounties the same week as the start incentives.

Rationale

This new process not only speeds things up but also creates more accountability and can lead to more teams applying to fulfill bounties. DAO-wide votes to select who completes each bounty can become a popularity contest. This discourages less well-connected or busy researchers from applying, as they don’t want to deal with the struggle of lobbying every delegate. However, allowing the elected LTIPP council to choose the most qualified teams without the researchers worrying about lobbying and DAO politics will encourage more bounty applications. This will lead to more options to choose from and result in better overall research being done. This new process for selecting bounties also adds accountability, as the decision is made by a small group instead of the entire DAO. The DAO delegates might not want to take the time or have the expertise to read and understand each application. Additionally, it is hard to assign accountability for decisions when they are made by large groups like DAOs. However, with a smaller group making the decisions, more accountability and expertise will be placed in each decision, leading to better outcomes for the DAO. The LTIPP council comprises strong teams and individuals elected by the community who have the DAOs’ best interests in mind. The council has intimate knowledge of the incentives programs and understands what needs to be studied to create a new and improved incentives program.

Specifications

The LTIPP proposal allocated a maximum of 200k ARB for research bounties. To streamline the process, this proposal allows the council to choose who fulfills each bounty. The proposed new bounty format is as follows.

Bounty Submission

Starting May 20th, researchers can apply for bounties by submitting applications on the forum. The council will put out a list of bounties they would like researched but researchers can also submit their own ideas for bounties.

Bounty Feedback

Applications for research bounties will be due June 3rd. The council and delegates will give feedback on the forum up until the 3rd to give feedback and allow people to alter their applications.

Bounty Selection

The LTIPP council will then select which bounties to fund on June 10th. Researchers whose bounty is selected would start their research immediately upon selection. This will align nicely with the start of LTIPP incentives beginning on June 3rd.

Bounty Payments

Researchers will be paid half of their bounty upon completing KYC and half of it upon completing their bounty. The LTIPP workstream will monitor the bounties throughout the program to ensure the bounties are completed and payments are made.

Steps to Implement

• Complete Snapshot vote to give more autonomy to the LTIPP council.
• Have teams submit proposals for bounties
• The council selects which bounties to fund
• Research starts
• Researcher’s selected for bounties complete KYC
• Half of the bounty is paid once KYC is completed
• Half of the bounty is paid upon completion of the research

Timeline

• Snapshot Vote: May 22 - May 29th
• Application Period: May 22 - June 3rd
• Selection Period: June 3rd - June 10th
• Research: June 10th - September

Overall Cost

There is no additional cost to this proposal. The funding will come from the 200K arb budget from the LTIPP proposal.