Date: 2024-03-20

Time: 12:30 PM - 1:30 PM UTC

Location: Zoom Call

Attendees:

• Sid Shah (Areta)
• Bernard Schmid (Areta)
• Paul Imseih (Daimon Legal)

1. Treasury Management Mandate Discussion

• Discussion: The ADPC discussed the ongoing conversations surrounding the Treasury Management mandate. It was noted that funding has been granted to parties for initial exploration, and a working group has been working on this for several months. The ADPC emphasized the need for a unified approach to avoid fragmentation in procurement processes, highlighting the importance of the ADPC taking the lead on this initiative.
• Resolved: The ADPC will continue to engage with the Arbitrum Foundation and scope out the treasury management process.

2. Legal Representation for Treasury Management

• Discussion: The ADPC discussed the need for legal representation in the treasury management process. It was noted that Daimon Legal requires a client to perform legal work for, specifically the Arbitrum treasury team who works with the Foundation. The ADPC agreed that any additional work should be compensated, and the conversation should be kept open with the Foundation if they show interest.
• Resolved: The ADPC will communicate with vendors, expressing their willingness to help and invest time in projects, provided there is a client to engage with.

3. RFP for Security Services Framework and Means Test

• Discussion: The ADPC provided an update on the RFP for the Security Services Framework process, stating that the first draft is almost complete. The process for the Means Test is also nearly finished and can be inserted into the RFP as a standalone document, linked from within the Means Test.
• Resolved: The ADPC will continue to work on finalizing the RFP for the Security Services Framework and integrating the Means Test process.

4. Subsidy Fund Benchmarking and Allocation

• Discussion: The ADPC discussed the benchmarking and allocation of the Subsidy Fund. They agreed to use an estimate for the project audit timeline and cost, with a budget potentially funding a certain number of projects. A submission period was agreed upon, with a maximum cap of the total funds being allocated in each period. The ADPC considered various allocation strategies but decided to stick with a consistent allocation in each cohort to avoid complications.
• Resolved: The ADPC will proceed with the agreed-upon benchmarking and allocation strategy for the Subsidy Fund.

5. Task Assignment and Updates