Abstract (TLDR)
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- 100k ARB for the STIP Bridge Operations Budget was included in the Double-Down on STIP Successes (STIP-Bridge) Tally proposal published on April 16th, 2024, and approved with 60% majority and 14% abstain.
- All necessary funds already approved and in multisig: These funds are already stored in the multisig, ready to be distributed once the below Snapshot passes. No additional funds beyond the already approved amount are needed to pay the entire operational budget.
Note: These operational costs will go directly to a Snapshot vote as a separate proposal titled “Operational Budget for STIP Bridge” with options for each of the three line items.
- Overall Work Done: 50+ applicants over 5 months with 36 completed incentive distributions. While 36M ARB was allocated, only 27.64M ARB was used.
In the bridge, each advisor was assigned about 20 protocols during the application phase and followed around 12 protocols each through the entire 5-month program.
- 100k ARB allocated by:
**3 Advisors, 58.2K ARB total,**19.4K ARB per advisor (SeedGOV, Jojo The Cow, Castle Capital)
- 1 Program manager, 34.3K ARB toal. Matt Stein, StableLab
- 1 Proposal Writer: 5K total. Alex Lumley
- 5 Multisig signers, 2.5K ARB total. 500 per signer for the LTIPP Multisig.
Motivation & Rationale
The STIP Operational team provided expert advice with many learnings.
Overall Work Done: 50+ applicants over 5 months with 36 incentive distributions. While 36M ARB was allocated only 27.64M ARB was used. In the bridge, each advisor was assigned about 20 protocols during the application phase and followed around 12 protocols each through the entire five-month program.
Additionally, the greeted DAO community already agreed to this amount with the STIP Bridge. All necessary funds already approved and in multisig: These funds are already stored in the multisig, ready to be distributed once the below Snapshot passes. No additional funds beyond the already approved amount are needed to pay the total operational budget.
As the work has already been completed this is necessary we should make sure our contributors and community members are fairly compensated.
list of protocols funded https://forum.arbitrum.foundation/t/start-of-stip-b-streams-and-timeline-of-incentives/25014
bi-weekly updates of protocols funded: https://forum.arbitrum.foundation/c/dao-grant-programs/biweekly-updates-stip/22
Specifications
Specifics on Payment:
Paid immediately
Compensation for specific STIP Bridge Operational Contributors:
Advisors:
- 58.2K ARB - 19.4K ARB per advisor.
Including:
- JoJo
- SEEDGov
- Castle Capital
Role & Responsibility for STIP Bridge
-
Each advisor was assigned about 20 protocols during the application phase and followed around 12 protocols each through the entire 5-month program.
Advisors will work for five months, will be responsible for approximately 20 protocols each, and will:
-
evaluate old STIP proposals
-
assess results of a protocol’s previous incentives campaign
-
evaluate Addendum proposals
-
suggest feedback tailored to the protocol such as what worked well in their STIP grant and what they should change
-
Help protocols during the three months STIP program in case they need to adapt their program, change specific mechanisms and in general require support.
Program Manager:
34.3K ARB - Matthew Stein, Stable Labs
Compensation
- This cost breaks down to 34,300 ARB * 0.56 = $19,208 for 5 months of work (April - September) or $3841.6 per month.
- For operating a 37.6M ARB program, this is 0.09% of the program’s total cost well below industry standard.
Program manager responsibilities
- Communicate with the 50+ total applicants to ensure they know about the bridge program and how to apply
- Coordinate the posting of the Addendums to the forum
- Ensure Addendums are correctly posted
- Administer deadlines for various phases of the program
*Handle COI with advisors assigned to protocols
- Help facilitate the posting of challenge snapshots
- Handle any conflicts of interest that arise from challenge snapshots
- Help coordinate with the multisig and protocols to ensure funds are properly distributed and protocols understand the streams
- Coordinate between the Protocols and Arbitrum Compliance
- Update grant recipients on program progress as streams start, run, and end
- Update the DAO on the progress of the program
- Help connect the program to other areas of the DAO such as the ARDC or LTIPP workstream
- Help protocols who have questions regarding the incentive rules/timelines
- Facilitate the return of any unused ARB at the completion of the program
Author of the proposal:
5000 ARB to Alex Lumley
Role & Responsibility:
- Wrote two distinct proposals: STIP Bridge and the STIP Bridge Operational budget the proposals for STIP Bridge, both the Tally and Snapshot.
- Throughout 4-6, non-continuous weeks The protocol authors have drafted the proposal, met with delegates for feedback,
- presented open workshopping calls, implemented feedback, and progressed the proposal toward a vote for the past few months.
- The hundreds of hours of work put into creating this proposal.
Including:
- Designing and authoring the proposal
- Driving delegate outreach, gathering and implementing delegate feedback
- Hosting workshop calls
- Reminding delegates to vote and answering last-minute questions
Multisig:
2500 ARB total, 500 ARB / Multisigner
Previous programs
- The multisig signers included: multisig 1 include Lindsey, Limes, Joseph, Bobbay and Alex Lumley.
- Multi-sig address: 0x544cBe6698E2e3b676C76097305bBa588dEfB13A
Current responsibilities
- Each Multisig signer will receive 500 ARB immediately
- Note that all the streams started, and most of the program passed before the new Arbitrum Multisig even passed Tally (send link).
- Halting streams based on decisions by the LTIPP Council.
Steps to Implement
- Post to forum: Answer any questions and make improvements
- Post to Snapshot
- Pass Snapshot
- KYC: Then each OpEx contributor can complete KYC
- Multisig disperses funds: then the LTIPP multisig can distribute the funds to each OpEx contributor.
Timeline
All the above steps should be completed in 2-4 weeks.
Note that the STIP Bridge program will run from April to September, with key milestones including protocol evaluations, mid-program reviews, and final reports.
