[CONSTITUTIONAL] - Adopt Timeboost + Nova Fee Sweep
AI summary
This proposal introduces "Timeboost" to Arbitrum One and Nova, which allows users to bid for faster transaction inclusion, moving away from a purely First-Come, First-Served system. It also includes a "Nova Fee Sweep" to transfer 1,885 ETH (approximately $5.9 million USD at current prices) from historical Nova transaction fees into the Arbitrum DAO Treasury. Timeboost aims to reduce network spam caused by MEV (Maximal Extractable Value) searchers and capture some of this value for the DAO.
If passed, Arbitrum One and Nova will implement a new transaction ordering mechanism where some transactions can pay for priority, potentially changing the user experience for those needing fast confirmations. The Arbitrum DAO Treasury will receive an additional 1,885 ETH, increasing its financial resources. Users who rely on FCFS for transaction ordering might see changes, while the DAO benefits from increased treasury funds.
Voting results
🐳 Whale votes
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[CONSTITUTIONAL] - Adopt Timeboost + Nova Fee Sweep
Abstract
This AIP proposes to combine two separate actions into a single on-chain vote for the ArbitrumDAO to consider: the adoption of Timeboost and a Nova Fee Sweep action. Timeboost introduces a new transaction ordering policy for Arbitrum One and Nova. The Nova Fee Sweep action will forward historical transaction fees to the ArbitrumDAO Treasury, a task leftover from the <u>Nova Fee Router Proposal</u>.
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