Title: Delegate 500,000 ARB to Summoner DAO to grow the Arbitrum Ecosystem Author: Summoner DAO Created: March 23, 2023 Labels:#proposals-active-discussion
Simple Summary / Abstract
The Sperax DAO has been given 1.8 million ARB tokens directly in its airdrop. The token is a governance token to manage the Arbitrum DAO an the community allocation for grants across the ARB ecosystem.
Summoner DAO is a decentralized autonomous organization (DAO) focused on curating investment discussions in the web3 ecosystem. It aims to bring together a community of experienced investors, industry experts, and thought leaders to share insights and analysis on promising investment opportunities in web3 with a focus on the decentralized finance (DeFi) sector.
Motivation
Currently the SperaxDAO will be allocated a specific amount of tokens, and as a core stablecoin protocol, will only be able to allocate so many resources towards voting. Therefore it makes sense for Sperax to delegate a meaningful share of governance share to a third party which will vote in the interests of Sperax.
Overview
As a delegate of Sperax, Summoner DAO agrees to vote in an aligned manner with the DAO, pursue grants that bring greater activity to DeFi on Arbitrum, and encourage treasury diversification to USDs whenever possible as treasury diversification of stable coins is essential to a healthy DAO treasury. The DAO exists in the DeFi space, and has been members of the Sperax community for some time.
Technical Specification
Delegate 500,000 ARB to SummonerDAO.eth immediately, and delegate the remaining ARB tokens held by the treasury no later after 90 days should the DAO find no issue with its current delegation.
I think Sperax DAO should wait and watch how the Arbitrum ecosystem unfolds. Sperax DAO doesn’t need to delegate to some other DAO. If there’s a proposal that Summoner DAO would like Sperax DAO to participate in. They can just bring that up and Sperax DAO can decide how to take that forward. Sperax DAO should delegate the tokens to themselves and participate in governance.
The problem with this is that oftentimes the Sperax DAO can, and should be focusing on the implementation of new integrations or enhancements to its product ecosystem. It is unlikely that the Sperax DAO will spend time on diligence on the wide range of governance matters that will be essential to maintaining flows in its ecosystem. There may be numerous essential issues that it should vote on, but may not vote on because no one from the DAO was looking at the proposals. This matter is further evidenced by the fact that it took two days to receive a response to this proposal in the first place. If the DAO has the manpower resources to dedicate to spending time on things like governance that would be different, but this is not the case.
The DAO should dedicate internal resources and time to product and partnerships, and can have effective governance managed on its behalf without involvement by the internal team. Additionally, having a unique delegate advocating on issues relevant to the Sperax DAO will add weight to the Sperax DAO’s delegation itself.
@SummonerDAO Please reach out to the Sperax community on Discord and Telegram to garner support for your proposal. Also share more in depth analysis and details on what you intend to work on if you get the delegation from Sperax DAO. You should share with the community what exactly are your intentions, what have you done so far. We simply don’t know anything about you. I don’t see any reason for the community to trust you. How is this proposal different from any random address asking to be delegated voting power.