AIP: Funds to bootstrap the first BoLD validator - Operational cost sentiment.
AI summary
This proposal asks the Arbitrum DAO to allocate 900 ETH (approximately $3.2 million USD at current prices) to the Arbitrum Foundation. This funding is intended to cover the operational costs for the Foundation to act as the first 'BoLD validator' for Arbitrum One. The funds are split into 500 ETH for service fees to 'proposers' (those who advance the chain) and 400 ETH to reimburse L1 gas costs for these proposers, assuming one challenge per year. This proposal is conditional on a separate proposal to upgrade Arbitrum chains to use BoLD technology passing.
If passed, the Arbitrum Foundation will receive 900 ETH to secure the Arbitrum One network by acting as the initial validator under the new BoLD system. This ensures the network's security and functionality during the transition to BoLD, benefiting all Arbitrum users. If the BoLD upgrade doesn't pass, the funds will be returned to the DAO.
Voting results
🐳 Whale votes
0 votes > 5% VPFull proposal
Non-Constitutional Proposal
Abstract
The Arbitrum Foundation is seeking 900 ETH, made up of:
- Service fees. 500 ETH to pay proposers who are actively participating and advancing the chain.
- Refund L1 gas costs. 400 ETH to reimburse all L1 gas costs for proposers who are actively advancing the chain and defending against malicious challenges, assuming 1 challenge per year.
This proposal is contingent on the AIP upgrade the DAO-governed chains to use BoLD being approved by the Arbitrum…