Date: 2024-04-17

Time: 1:30 PM - 2:30 PM UTC

Location: Zoom Call

Attendees:

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

1. Exclusivity Clause Discussion

• Discussion: The ADPC discussed the practicality of the exclusivity agreement with the Arbitrum Foundation, examining the challenges of enforcing exclusivity for existing projects compared to newer ones. The Committee deliberated on how to enforce exclusivity from the perspective of fund usage.
• Resolved: Joseph will reach out to Andrea regarding the exclusivity clause since the Arbitrum Foundation will be the counterparty to the Grant Agreement.

2. Grant Agreement Setup and Fund Flow

• Discussion: The ADPC discussed the setup of the grant agreement and the flow of funds. The Committee suggested a reimbursement of expenses claim and invoice validation process, emphasizing the importance of checking the audit scope to ensure it is specific to the Arbitrum tech stack codebase. The discussion also covered the contractual setup, with a contract between the service provider and the project, and the invoice flow from the project team to the ADPC for payment of the grant amount directly to the service provider to prevent misappropriation of funds by the project team.
• Resolved: N/A

3. RFP Requirements Gathering and Documentation

• Discussion: The ADPC discussed the requirements gathering process for the RFP, including an update on Red Guild. Joseph contacted Red Guild for the advisory role and Krysztof as a back-up. The Committee also reviewed the RFP documentation and comments.
• Resolved: N/A

4. Updates on Previous Tasks

• Discussion: The ADPC reviewed the progress of tasks assigned in the previous meeting:
  • Paul was tasked with reaching out to the Security Council to ask about security experts on the ADPC. [Update: not pursued due to stated likely conflicts of interest between Council members and respondents to the RFP)
  • Joseph was tasked with reaching out to Blockworks and Delphi Digital to see if they can use internal resources as security experts. (In progress)
  • Joseph was tasked with reviewing the final sections of the RFP document and responding to queries.
  • Paul was tasked with reviewing the RFP document next week once the RFP is done.
  • Paul and Joseph were tasked with discussing the question of signing the agreement with the Arbitrum Foundation legal team.
• Resolved: N/A

5. Updates Post-Call