Welcome to the Optimism Weekly Update, your guide to what's happening in Optimism governance. Click the button below to manage which weekly updates you receive by email.
Four important proposals passed through Token House Governance last week, concluding Voting Cycle #12b (see below).
The Grants Council will begin accepting grant applications on June 8th. The draft forms for Builders grants and Growth Experiments grants have been posted for community feedback.
Co-granting will be live in Season 4. Check out this thread about how it will work.
Treasury Appropriation (Foundation Year 2 Budget Approval)
Summary: The Optimism Foundation, as per the founding documents of the Optimism Collective, was allocated a Year 1 budget and has utilized 5.21% of it thus far. As a result, the Foundation is not required to request a budget for Year 2, but is making a symbolic request for an additional 1 OP for its Year 2 (2023-2024) operating budget, which is subject to governance approval.
Proposer: Optimism Foundation
Status: Passed
Summary: The default inflation rate for the OP token is currently set at 2% per year; this proposal suggests reducing the inflation rate to 0% for Year 2.
Proposer: Polynya
Status: Passed
Council Reviewer Elections: Builders Grants
Summary: As part of the approval process for the Grants Council Intent Budget, the Token House will select three Reviewers for the Builders sub-committee. The voting will utilize approval voting, allowing delegates to vote for any number of nominees, including themselves for the remaining elected positions. The candidates are Gonna.eth, Jack Anorak, Krzysztof Urbanski (kaereste or krst), and Oxytocin.
Proposer: Optimism Foundation
Status: Krzysztof Urbanski, Jack Anorak, and Gonna.eth were elected.
Council Reviewer Elections: Growth Experiments Grants
Summary: After receiving approval from the Grants Council, the Token House will elect five Reviewers for the Growth Experiments Grants sub-committee. Approval voting will be used, allowing delegates to vote for any number of nominees, including themselves for the remaining elected positions. The candidates are Katie Garcia, Sugma.eth, Matt L, GFX, StableLab, Michael Vander Meiden, and DAOStewards.
Proposer: Optimism Foundation
Status: Katie Garcia, Michael Vander Meiden, Matt L, GFX, and Sugma.eth were elected.
Conversation continues about moving the Optimism forum from Discourse to a web3-native platform.
There are delegate communication thread updates from @Matt_StableLab, @jackanorak, and @seedlatam.
The Bedrock upgrade will take place on June 6th at 16:00 UTC. There will be 2-4 hours of downtime for OP mainnet. See this document for all the details.
Some adjustments had to be made to the timing of proposals to account for variable block times — which shouldn’t be an issue post-Bedrock.
There’s now an Alliance channel in Discord — where you can “find and coordinate with fellow Alliance members.”
The next Community Governance Call is Tuesday June 6th, 10am PT / 1pm ET / 7pm CET, on Zoom.
Season 4 begins this week, on June 8, with a Cycle #13 review period for Mission proposals.
@lavande reminds us that all Mission proposals need to be posted to the forum by June 21st, and need four delegate approvals within the week following in order to advance to Voting Cycle #13. Foundation Missions (RFPs) need to be submitted by June 28th unless otherwise indicated.
Want to learn more about the Alliances needed to form Missions? A recording of the Alliance forming workshop held last week has been posted.
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Quick Gov Links: Working Constitution | Operating Manual v0.3. 5 | Voting Portal | Optimism on Boardroom
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