[draft] Proposal to fund community development efforts

DAO Proposals
1

Proposal to fund community development efforts

Abstract

This proposal aims to fund community developer Cody aka johnbrowndidnothingwrong (Discord) aka safh0 (Telegram) for their efforts on the Delegated Miner contract (and enabling delegated mining in the miner TypeScript), Liquid Staking AIUS dApp, AIUS Swap market contract + dApp, and self-repaying AIUS loans (lending/borrowing).

Motivation

These innovative and unique tools built on Arbius Engine bring significant value to the Arbius ecosystem. Delegated Mining opens the door to many opportunities, some of which are already being explored like liquid staking AIUS and self-repaying AIUS loans. The Arbius DAO should incentivize community developers to continue building on Arbius and this draft proposal aims to gauge community interest in doing so.

Key Goals

AIUS Swap Market

This marketplace enables miners to deposit ETH or any ERC-20 token as a reward for AIUS depositors. The marketplace contract stakes deposited AIUS directly with the incentivized miner. This dApp can be used instead of OTC, p2p, or even DEX trades. The miner sets their own reward value per AIUS deposited. There’s no slippage or price impact, only a small fee of ~1.66% deducted from reward claims.

Goals

  • continue hosting dApp for 12 months at etherstake.house/aius (includes hosting and domain fees, maintenance such as renewing SSL certificate and configuring load balancers if necessary, and other reasonable accommodations to keep the dApp accessible)
  • improve UI
  • software quality assurance/testing
  • possible Solidity contract updates

Source

Cost breakdown

  • 50 AIUS

Delegated Miner contract

This Solidity contract acts as a middle-man between a miner wallet and the Arbius Engine. The primary purpose is to allow deposits from AIUS stakers while trustlessly distributing mining rewards.

Kasumi began working on this contract and Cody finished it (added reward claim logic, fixed an issue with submitSolution(), added submitTask(), added properties for minStakeAmount, rewardShareDivisor, added signalCommitment(), and tested the contract on Arbius ‘testnet’ contract)

Goals

  • finish the implementation for lending/borrowing
  • work on another proposal to fund an audit and/or bug bounty for the Delegated Miner solidity contract
  • Solidity improvements (adding nonReentrant modifiers, unit tests in Hardhat, and other reasonable accommodations)

Source

Cost breakdown

  • 200 AIUS

Delegated Miner TypeScript updates

Although Kasumi had most of this work completed and commented out, Cody found a few lines needing updates and verified that Delegated Mining works with these latest changes:

Goals

  • get Pull Request #26 merged to main so Delegated Mining is enabled for everyone (may include working with Arbius team to update code formatting, style, etc)

Source

Cost breakdown

  • 50 AIUS

Liquid Staking AIUS dApp

This dApp enables:

  • miners to deploy their own Delegated Miner contract on Arbitrum Nova
  • stakers to deposit AIUS to Delegated Miners
  • stakers to view their staked AIUS amount and total staked AIUS amount for any Delegated Miner
  • stakers to initiate and complete withdrawals from Delegated Miners

Goals

  • continue hosting dApp for 12 months at etherstake.house/aius-staking (includes hosting and domain fees, maintenance such as renewing SSL certificate and configuring load balancers if necessary, and other reasonable accommodations to keep the dApp accessible)
  • add UI features for: displaying accumulated rewards, claiming rewards, displaying held AIUS amount, lending and borrowing AIUS, disconnecting wallet, and other reasonable accommodations.
  • improve UI (already a work-in-progress)
  • software quality assurance/testing

Source

Cost breakdown

  • 200 AIUS

Timeline

Time after proposal is approved:

0 months (already completed)

  • Finished, tested, and open-sourced the Delegated Miner contract
  • Designed, built, open-sourced, and hosting an AIUS Liquid Staking dApp for delegated miners and stakers
  • AIUS Liquid Staking dApp: Deploy new delegated miner, stake/unstake to/from delegated miner, view staked and total AIUS amounts for delegated miners, as well as viewing information like miner wallet address, miner reward share, etc.
  • Designed, built, open-sourced, and hosting an AIUS Swap Market contract and dApp.
  • AIUS Swap Market: Arbius miners may incentivize AIUS deposits to their miner by depositing any ERC-20 token. Stakers can deposit AIUS through the Swap Market to claim ETH or ERC-20 rewards from incentivized miners.
  • Pull Request created on Arbius repo to enable Delegated Mining in the Typescript miner.

1 month

  • UI improvements on Liquid Staking AIUS dApp and AIUS Swap Market
  • PR #26 merged to Arbius repo main branch
  • UI features added to Liquid Staking AIUS dApp: display accumulated rewards, claim rewards, display held AIUS, disconnect wallet
  • Unit tests added to Delegated Miner repo

2 months

  • lending/borrowing is implemented and working for Delegated Miners
  • UI features added to Liquid Staking AIUS dApp: lend AIUS to Delegated Miner
  • nonReentrant modifiers added to Delegated Miner functions that call other contracts

3 months

  • UI features added to Liquid Staking AIUS dApp: configure Delegated Miner settings such as minimum stake amount, deposits enabled, reward share divisor, lending enabled, etc.
  • software quality assurance testing for AIUS Swap Market and Liquid Staking AIUS dApps is completed
  • Proposal drafted to fund an audit and/or bug bounty for the Delegated Miner contract

12 months

  • Commitment to host dApps ends (everything is open-sourced so anyone can host them)

Overall cost

This proposal recommends that Cody be paid 500 AIUS for their past, ongoing, and continued work outlined above.

As of 2024-03-26, the Arbius Treasury holds over 159,000 AIUS and more is accumulated with every solution that’s claimed by miners. 500 AIUS is less than 1/3rd of 1 percent of the Treasury holdings.

Conclusion

Community developers are an integral resource for decentralized projects like Arbius. While the Arbius devs are hard at work with miner updates, onboarding new models, and many other fundamental goals, community devs can work on the nice-to-have features that would otherwise take much longer to deliver.

It’s in the best interests of the Arbius DAO to fund community developers and incentivize them to continue building in the Arbius ecosystem. If the community is interested in this draft proposal and some miners sponsor it, then a Snapshot proposal will be created to begin voting.

Thank you for your consideration!

3 Likes
2

I think using the community DAO this way is great, however I would suggest a vesting period included in any work that’s done or distribution from the DAO in the interests of not impacting the market too much. The proposer suggested a 12 month vesting period for the AIUS. I think its smart to layout vesting periods for most DAO community projects in the interest of 1. showing the developer is interested int he long term health of the project and 2. it doesn’t impact the market too much. Thanks.

1 Like
3

really like the concept of liquid staking and self-repaying loans.

1 Like
4

I fully support Cody in his initiative. I believe we need as many builders as possible on top of the Arbius network to add value, and I see many use cases for it. I like the swap and lending/borrowing features.

I think you also need a miner slashing scoring system for people to understand where they are depositing their funds, so they can evaluate the mining risk.

For the borrowing/lending, I would also love to see a quick leveraged version for longing.

I think if the 12-month vesting and milestone rewards are in place, I vote yes.

1 Like
5

I support this initiative as well with some feedback:

Delegation requires trust so users need to be as informed as possible when making their decision as to why and where to delegate. It would be cool to incorporate some information about the miner who is seeking delegates. Socials would be a good start and perhaps a brief mission statement or mining setup e.g. what resources the miner is putting up so you have a better idea of what to expect from them.

Also, perhaps the param changes can’t be done over certain thresholds: only allow updates to reward share once per month, and/or only allow up to x% decrease per update.

And finally, would it be possible to display historical info about the miner - times slashed / amount slashed, param changes and so forth.

1 Like
6

This is a good proposal and i agree that an environment where community developers are rewarded for their work will create a healthy protocol environment.

However, i personally feel it is too early for such activities.
At this stage the core team needs to utilize resources carefully and with experienced advisors onboard it’ll be wise to follow them till we get the fundamentals fleshed out.

At 100m mcap, the 500 AIUS would be north-side of $400k, which in future hindsight could be used for more activities. Perhaps a 50% token and 50% stable-coin (ratio debatable) payment plan would be healthy for the treasury,

1 Like
7

Thank you all for the feedback. I have some updates to share:

  • I agree to a 12 month, linear vesting schedule for the AIUS payment. If the community has any thoughts on which vesting dApps to use then feel free to share.

  • Please note the new URL for the Liquid Staking dApp UI is https://etherstake.house/stake-aius (and the old URL will soon redirect to the new UI)

8

I Support this Proposal: someone whose really engaged in the Project and doing a really great work should be honoured - and paid.

I Like the Idea in the proposal and hope to find a good Solution. Maybe a Little Bit lower amount of $Aius and a Vesting plan with a Cliff.

1 Like
9

Fully support the proposal! This will be a fantastic addition to the Arbius ecosystem. I’m particularly intrigued by the concept of self-repaying loans. Looking forward to seeing this develop!

10

I believe this proposal aligns well with the principles and values of arbius.

Cody has already been a remarkable member of the community, so this might be a good opportunity to allow his talent to keep enriching the ecosystem. Its also fair to mention I agree this way of using the DAO is very good.

11

I am on board with this proposal, given any of:

  • A vesting schedule consistent with ensuring delivery
  • An escrow system with the same outcome in mind
  • Simple payment after delivery for each milestone
12

A very good proposal, one that would be greatly beneficial to the Arbius community.