Name (organization or individual): Zonic : NFT Marketplace for L2

Wallet Address or ENS: 0xd3eFbc65713C307d3057b7E0979A996F6A9799AC (zonicapp.eth)

Tally Profile URL (create a profile here): Tally | zonicapp.eth

What area are you most interested in contributing to? choose up to two tags:

• NFT development on Arbitrum
• Supporting Infrastructure

Please share your stance on overall goals for the DAO:

A DAO, or Decentralized Autonomous Organization, is a general term used to describe a group of individuals who form an organization and make decisions on its direction collectively using a decentralized model. The goals of a DAO depend entirely on the objectives of that particular organization.

As we are discussing the Arbitrum DAO, our goal is to determine a direction that will guide the chain towards sustainable growth in every possible way. For instance, we may vote for the ecosystem fund to finance projects that promote genuine adoption rather than Ponzi schemes. This is a critical step in bootstrapping the chain for long-term growth.

This is just one example, but it provides a sense of how we approach the DAO. As a decentralized organization, we make decisions together with the goal of promoting ecosystem growth that benefits everyone in some way.

Sample Voting Issue 1:
Issue Overview

• Uniswap planned to use Flipside to attract new users to Uniswap through bounties. Although the program outline and funding was fine, the proposal was contentious because it gave Flipside crypto too much control over allocating UNI to bounties and oversight of the entire program.
• For instance, Flipside had 3/7 seats on the allocation committee and 1/3 seats on the Oversight committee. There was also concern since none of the other analytics service providers were involved in the proposal.
• This proposal flew under the radar but at the 11th hour got very heated. Large votes from university clubs supported the proposal since they would get a seat on the allocation committee. However, Dune and Leshner spoke up about the issue because of the centralization of power and favor of one service provider.

Prompts to Answer:

1. How would you vote?:

   Against

2. What amendments would you make to the proposal if any?

   Granting excessive control to any one group is not advisable, particularly in a decentralized context. I recommend that we reject the proposal due to the significant concerns surrounding it, which cannot be adequately addressed through amendments.

3. How would you approach the tradeoff between centralization of authority and the ability to get things done?

   The structure of this DAO seems to be somewhat flawed. To overcome the centralization of voting power, it may be necessary to establish a committee at the early stages. It would also be wise to propose a plan to gradually increase the decentralization of the DAO over time. As the DAO becomes more decentralized over time, this issue should be resolved.

Sample Voting Issue 2:
Issue Overview:
Overview Link 1
Overview Link 2

FEI RARI Hack Reimbursement: In April 2022 Rari was hacked for 80M, a vote was passed to reimburse those affected. Then in May 2022 another vote to refund the Rari hacked was brought forward this time it was not passed.

Prompts to Answer:

Outside the flipping of the vote, how would you choose to handle this situation?
i.e should parties be reimbursed for an exploit or not? (Please choose one of the below options and then elaborate upon your reasoning)

Full Reimbursement

Please elaborate on what instances you believe it is right to refund and which are not.

This issue is complex and highlights a weakness of DAOs. While DAO stands for Decentralized Autonomous Organization, individuals within the organization tend to act in their own best interests rather than for the survival of the organization as a whole. In reality, people tend to decide what benefits themselves most, rather than the other way around.

For issues of this magnitude, it would be best to seek the expertise of domain experts rather than relying solely on the DAO. Since this issue could have life or death implications for the organization, it is essential to note this and take steps to prevent similar situations from arising in the future.

I cannot provide a definitive answer regarding whether reimbursement should be made in full, split, or not at all, as it would require a detailed breakdown for the benefit of everyone involved. However, this situation provides an example of how DAOs should handle such matters.

Languages I speak and write: English, Thai

Disclosure of Conflict(s) of Interest:

We don’t have any conflict of interest.