Date: 2024-04-10

Time: 1:00 PM - 2:00 PM UTC

Location: Zoom Call

Attendees:

• Sid Shah (Areta)
• Bernard Schmid (Areta)
• Joseph Axisa (Axis Advisory)
• Paul Imseih (Daimon Legal)

1. RFP Documents and Next Steps

• Discussion: The ADPC discussed the RFP documents and the next steps for the RFP process, acknowledging the difficulty in providing security service providers with accurate business projections and the importance of avoiding fluctuating expectations. The Committee also deliberated on mandating that recipients use the funds only through the framework, i.e., selecting whitelisted service providers. The discussion included reaching out to a non-profit group used by security service providers to act as subject matter experts (SMEs) and considering engagement with the Security Council for additional expertise.
• Resolved:
  • The ADPC will engage with the identified non-profit group to act as experts for the Committee.
  • The ADPC will engage with the Security Council to act as experts for the Committee.
  • Paul and Joseph will share legal documentation with the Arbitrum Foundation legal team, aiming for April-end for publication. This discussion will include determination of the agreement signatory.
  • The Committee will complete the standalone RFP, T&Cs, and standalone agreement.
  • The Committee will set up the necessary infrastructure.

2. Legal Entity and Agreement Signatory

• Discussion: The ADPC discussed the optimal entity to sign the agreement with the security service provider, suggesting the Foundation as a potential signatory. The discussion acknowledged the need for a dedicated legal entity to manage the process but recognized the challenges in establishing one in the near future. The Committee may require assistance from the Arbitrum Foundation in the interim.
• Resolved: The ADPC will discuss the agreement signatory question with the Arbitrum Foundation legal team to determine the most appropriate course of action.

3. RFP Timeline and Infrastructure Setup

• Discussion: The ADPC discussed the timeline for the RFP process, which includes engaging with the identified non-profit group and the Security Council, finalizing the agreement signatory, completing the RFP documentation, setting up infrastructure, sharing legal documentation with the Arbitrum Foundation legal team, and publishing all documentation by end of April.
• Resolved:
  • The ADPC will set up and test the necessary infrastructure.
  • Paul and Joseph to share legal documentation with the Arbitrum Foundation legal team and open a dialogue on relevant matters.

4. RFP Review and Next Steps Discussion

• Discussion: The ADPC reviewed an extensive Request for Proposal (RFP) document, focusing on the next steps, response from a third party, and the process of selecting security service providers. The discussion included providing a high-level overview of the legal document for context before conducting a detailed review, reviewing and revising the legal framework document and RFP template based on internal discussions, finalizing the RFP document by the end of the week, and setting up a communication channel with the Arbitrum Foundation to discuss legal and risk implications of the ADPC signing the agreement.
• Resolved:
  • The ADPC will establish a communication channel with the Arbitrum Foundation to discuss legal and risk implications.
  • Paul to continue the RFP legal terms review and will create the TLDR of the documents to aid readers.