TLDR: WIP to initiate a memecoin fund, separate from the Arbitrum DAO, that selects, puts skin in the game, helps memecoin projects grow, and cultivates a memecoin-friendly culture in Arbitrum.
I made this in about 1 hour. Feel free to pick any holes you see. If you think it's stupid, feel free to say so and why.
Abstract
It is undeniable at this point that memecoins bring new liquidity, users, and attention to the respective blockchain. This in turn stress-tests dApps, the chain itself, and most importantly, brings new users and attention to real utility projects.
Everyday, we see headlines of how Solana memecoins go from 0-100M+ FDVs in a matter of days. This A) brings retail in and B) provides downstream effects to Solana DeFi protocols, utility projects and more.
There is no reason Arbitrum DAO shouldn't at least try to spur a memecoin initiative. While one may think Arbitrum is "forcing" memecoins, understand that every other blockchain is now doing it too. Avax announced a memecoin fund which got some pushback at the start, but it's undeniable that the fund has spurred more memecoins, more eyes, and more attention to Avax.
While DeFi protocols and real utility projects are important to a chain, without new users and retail-friendly attention, growth stagnates and as the saying goes, builders go where the users are.
Motivation
While one can argue on how successful $ARB grants have been to the protocols on Arbitrum, it's hard to argue that Solana and more recently, BASE, have taken all the attention.
Arbitrum has the highest TVL among all L2s with some of (if not the best) U/X. But, DAUs are stagnating and protocols are having a hard time attracting new users.
We see prominent VCs, and even successful DAOs and NFT projects investing in memecoins.
Memecoins have been tried on Arbitrum since inception, but the defining "DeFi-chain" narrative is hard-engrained, and will take drastic measures to not erase, but include other categories.
In short, the motivation of the memecoin fund is to help the Arbitrum ecosystem as a whole. Draw attention, new users, more chain usage, more DeFi activity, and more.
Rationale
Specifications
Memecoin Fund Structure (WIP - needs more thought)
Criteria for initial review (Passing this criteria does not guarantee investment or help from the fund) (WIP - needs more thought)
A lot of this was taken from the AVAX fund's criteria.
Supporting a token through the fund (WIP - needs more thought)
Once collaborators have aligned on tokens to support, they are presented once a week to the board for review. If an investment is agreed upon:
The fund must also offer a dedicated graphic designer/video renderer to the project.
The fund is not allowed to day-trade. Once an investment decision is agreed upon, the investment must be held for three months. At the end of the three month mark, collaborators can deliberate on A) unwinding assets or B) continuing for another three months.
The fund cannot announce an investment until a TWAP ends. The fund must announce the investment after the TWAP ends.
Steps to Implement (WIP - needs more thought)
Timeline (WIP - needs more thought)
As soon as possible.
Propagation of the fund should be for at least 6 months. Afterwards, the Abitrum DAO can vote to increase funding or terminate the memecoin fund in it's entirety. Any unwinded assets are converted to $ARB and sent back to the Arbitrum DAO if the fund is dissolved.
The 6 month period should be a relatively low-risk way to test the appetite and early success of the fund.
Overall Cost
Total cost: $3,315,000 USD worth of $ARB
EDIT: To be considered, additional funding ($1-2M worth of $ARB) - reserved as grants to Arbitrum DeFi protocols incorporating funded memecoins into their product offerings. This bridges the memecoin <> DeFi landscape.
TLDR: WIP to initiate a memecoin fund, separate from the Arbitrum DAO, that selects, puts skin in the game, helps memecoin projects grow, and cultivates a memecoin-friendly culture in Arbitrum.
I made this in about 1 hour. Feel free to pick any holes you see. If you think it's stupid, feel free to say so and why.
Abstract
It is undeniable at this point that memecoins bring new liquidity, users, and attention to the respective blockchain. This in turn stress-tests dApps, the chain itself, and most importantly, brings new users and attention to real utility projects.
Everyday, we see headlines of how Solana memecoins go from 0-100M+ FDVs in a matter of days. This A) brings retail in and B) provides downstream effects to Solana DeFi protocols, utility projects and more.
There is no reason Arbitrum DAO shouldn't at least try to spur a memecoin initiative. While one may think Arbitrum is "forcing" memecoins, understand that every other blockchain is now doing it too. Avax announced a memecoin fund which got some pushback at the start, but it's undeniable that the fund has spurred more memecoins, more eyes, and more attention to Avax.
While DeFi protocols and real utility projects are important to a chain, without new users and retail-friendly attention, growth stagnates and as the saying goes, builders go where the users are.
Motivation
While one can argue on how successful $ARB grants have been to the protocols on Arbitrum, it's hard to argue that Solana and more recently, BASE, have taken all the attention.
Arbitrum has the highest TVL among all L2s with some of (if not the best) U/X. But, DAUs are stagnating and protocols are having a hard time attracting new users.
We see prominent VCs, and even successful DAOs and NFT projects investing in memecoins.
Memecoins have been tried on Arbitrum since inception, but the defining "DeFi-chain" narrative is hard-engrained, and will take drastic measures to not erase, but include other categories.
In short, the motivation of the memecoin fund is to help the Arbitrum ecosystem as a whole. Draw attention, new users, more chain usage, more DeFi activity, and more.
Rationale
Specifications
Memecoin Fund Structure (WIP - needs more thought)
Criteria for initial review (Passing this criteria does not guarantee investment or help from the fund) (WIP - needs more thought)
A lot of this was taken from the AVAX fund's criteria.
Supporting a token through the fund (WIP - needs more thought)
Once collaborators have aligned on tokens to support, they are presented once a week to the board for review. If an investment is agreed upon:
The fund must also offer a dedicated graphic designer/video renderer to the project.
The fund is not allowed to day-trade. Once an investment decision is agreed upon, the investment must be held for three months. At the end of the three month mark, collaborators can deliberate on A) unwinding assets or B) continuing for another three months.
The fund cannot announce an investment until a TWAP ends. The fund must announce the investment after the TWAP ends.
Steps to Implement (WIP - needs more thought)
Timeline (WIP - needs more thought)
As soon as possible.
Propagation of the fund should be for at least 6 months. Afterwards, the Abitrum DAO can vote to increase funding or terminate the memecoin fund in it's entirety. Any unwinded assets are converted to $ARB and sent back to the Arbitrum DAO if the fund is dissolved.
The 6 month period should be a relatively low-risk way to test the appetite and early success of the fund.
Overall Cost
Total cost: $3,315,000 USD worth of $ARB
EDIT: To be considered, additional funding ($1-2M worth of $ARB) - reserved as grants to Arbitrum DeFi protocols incorporating funded memecoins into their product offerings. This bridges the memecoin <> DeFi landscape.
For what it's worth, my team & I have started https://boom.lol, a simple concept to launch safer memecoins on Arbitrum. Hope it helps garner some attention for memecoins on Arbitrum.
@0xkawz @maxlomu
For what it's worth, my team & I have started https://boom.lol, a simple concept to launch safer memecoins on Arbitrum. Hope it helps garner some attention for memecoins on Arbitrum.
@0xkawz @maxlomu
$Boop meets all the criteria , it will soon come to be part of the Stryke( formerly Dopex ) CLAMM so you will be able to trade options with it as well as LP , its also original and not offensive , its a natural candidate for the face of the Arb Meme project . This could be a game changer in regards to marketing the Arb network out to the general public .
Not really; Vitalik is agreeing with me here. Read past the fact that "memecoins" are in the title: he highlights how a token project can be more than just "a meme" while still being a relatively simple concept/project. Developers don't need to invent the next Uniswap in order for a token to have "utility". He lays out "Charity coins" and "Robin Hood games" as project ideas that could find a niche.
So, to clarify my stance: if a token is only interesting because the name/symbol makes you giggle or the mascot/logo is cute, it's "a memecoin". If the token has any additional use, goal, or purpose, then it's not a memecoin. I am in favor of having project funds be available to help projects that have a purpose, but not in favor of spending the time, effort, and funds on coordinating with projects that are solely a meme. People are welcome to participate in any meme communities they feel drawn to, but I don't think platform funds should be allocated to encourage more and more of that.
This is a clear chance to make a huge marketing play and revive Arb ? Arb should make a large $Boop buy and supply liq .
$Boop meets all the criteria , it will soon come to be part of the Stryke( formerly Dopex ) CLAMM so you will be able to trade options with it as well as LP , its also original and not offensive , its a natural candidate for the face of the Arb Meme project . This could be a game changer in regards to marketing the Arb network out to the general public .
Not really; Vitalik is agreeing with me here. Read past the fact that "memecoins" are in the title: he highlights how a token project can be more than just "a meme" while still being a relatively simple concept/project. Developers don't need to invent the next Uniswap in order for a token to have "utility". He lays out "Charity coins" and "Robin Hood games" as project ideas that could find a niche.
So, to clarify my stance: if a token is only interesting because the name/symbol makes you giggle or the mascot/logo is cute, it's "a memecoin". If the token has any additional use, goal, or purpose, then it's not a memecoin. I am in favor of having project funds be available to help projects that have a purpose, but not in favor of spending the time, effort, and funds on coordinating with projects that are solely a meme. People are welcome to participate in any meme communities they feel drawn to, but I don't think platform funds should be allocated to encourage more and more of that.
This is a clear chance to make a huge marketing play and revive Arb ? Arb should make a large $Boop buy and supply liq .
im guessing u and @ruslanklinkov missed boop going from 1m to 40m mc on arb
im guessing u and @ruslanklinkov missed boop going from 1m to 40m mc on arb
It's worth noting that the "OG degen culture" that Arbitrum lacks now came from defi projects releasing NFTs in order to attract new users and build community.
Memes are the same tool, with a higher TAM, easier onboarding and due to their liquidity vs NFTs generate much more velocity in terms of liquidity sloshing around a chain.
It's worth noting that the "OG degen culture" that Arbitrum lacks now came from defi projects releasing NFTs in order to attract new users and build community.
Memes are the same tool, with a higher TAM, easier onboarding and due to their liquidity vs NFTs generate much more velocity in terms of liquidity sloshing around a chain.
For people who say that the liquidity isn't sticky - like most people in 2023/24 I got onto Sol purely for the meme coins. I now park stables in defi projects there that frankly would be on Arb if memes hadn't got me bridging in the first place.
Memes are the culture of the chain, and the single easiest way to onboard new users and show them that bridging to Arb, or buying from a CEX has very little friction, near-zero transaction fees and better infrastructure tools than anything outside of mainnet and Sol.
meme coins offered me 300% on my portfolio realized midcurvethunder.
let me guess u missed wif, pepe, bonk, doge, popcat, bome, slerf, brett, degen, and another hundred opportunities of 10-1000x becuz get rich is not ur ‘style’. u like to get poor slowly huh 😭 don’t forget u missed MOG 🫵😹
Yeah look. All these initiatives are fine, but are hundreds of millions of dollars when the easiest, simplest, already proven way to attract retail capital and activity is "number go up" and massive pnls.
No degen is going to care about any of those initiatives. They are for whales & yield-maxis.
Yeah look. All these initiatives are fine, but are hundreds of millions of dollars when the easiest, simplest, already proven way to attract retail capital and activity is "number go up" and massive pnls.
No degen is going to care about any of those initiatives. They are for whales & yield-maxis.
https://twitter.com/0xLawliette/status/1774176134130999339
Last STIP did not bring in new users. New one won't either. It will just be used by teams/whales to farm. It passed because well, the protocols directly benefiting from them are voting in favor (obviously). Gaming will take years (and Arbitrum will face heavy competition here).
It blows my mind how midcurves don't understand you absolutely need a degen ecosystem on the chain to attract users, give attention to the chain, and give marketing to the actual real protocols.
useless input with nothing actionable to suggest. if full blown aids was a person
It is undeniable at this point that memecoins bring new liquidity, users, and attention to the respective blockchain
I feel like many can agree that a "memecoin" fund would be benefical for the chain.
We're a DeFi heavy chain which is great. We're know for that, and we have some of, if not the best DeFi projects in Web3. The problem is that is all we have now. And we're having to dish out huge grants to foster growth in other areas like gaming (see recent grant).
I feel like many can agree that a "memecoin" fund would be benefical for the chain.
We're a DeFi heavy chain which is great. We're know for that, and we have some of, if not the best DeFi projects in Web3. The problem is that is all we have now. And we're having to dish out huge grants to foster growth in other areas like gaming (see recent grant).
Better to get ahead of the curve with a small grant (like this one) to see the effects. The Avax Meme fund would be an easy way to compare the success of the fund. It's also easy to see that it worked.
The ARB DAO likes to see on-chain metrics improved when they're spending $ARB. This would be extremly easy to prove with on-chain, quanitfiyable on-chain metrics with clear milestones. EX:
Active ARB addresses Volume of selected meme coin pairs Meme coin or total transactions
Our chain is going to be a ghost chain with heavy funded DeFi projects if we're not careful. Memecoins will create a wealth effect by those that are actually active in this space. Most likely creating a flywheel that will further the activity on these DEXs as community memebers have wealth to play around with.
Not to mention them using the phyiscal exchanges to trade the memecoins.
Lots of potential here. I'd be interested in getting some more Arbitrum community memebers in here to discuss.
this is something that i potentially see a problematic. It has indeed risk of insider trading. Not sure how to solve for this because is just to easy to spin up a new anon wallet
this is something that i potentially see a problematic. It has indeed risk of insider trading. Not sure how to solve for this because is just to easy to spin up a new anon wallet
Not well versed in all technicalities. Would just say anti sniping features especially because this can be fixed in the distribution of ownership.
What does this mean specifically? We need a criteria here to understand what is a go/nogo
I further communicated this later on, either burned (preferred) or locked at least 6+ months at the time of the funds review. This makes sure the fund doesn't get rugpulled.
Not sure about this. Unwinding, ok. Basically dumping, but option B does it just mean to buy again? I can see that happening as well. Again we would need at least the high level idea on when we want to keep buying and when we don’t want to. I would also add an option C that is just keeping the position in the balance sheet.
Agree. It was just an initial thought, can be lowered.
But how are these graphics, memes, video, delivered to the community? Through the official account of the coin in question? Likely the arbitrum official account, while available to highlight specific things of this proposal, won’t likely be used for a constant active support.
But I tend to lean toward the ones who said that a good meme should happen organically, and forcing it might not work.
That is why I introduced a low-risk 6 month period. ~3M arb (which can be reduced if people see fit) to test out the waters. Perhaps not all of it would be used in the 6 month period. If not, and the DAO votes at the end to dissolve the fund, it would be returned to the DAO. Remember, we are happy to give DeFi protocols ~$100M USD to keep the train running. Let's put things into perspective here.
Other chains like Solana got nothing to offer so they’re focusing on memecoins which is temporary trend that will pass soon. And most of that trend is artificially driven. Having memecoins on Arbitrum is important but it can’t compete with other chains that are targeting memecoins and injecting a lot of capital there. This proposal is great, better than nothing and it might help a little- very little.
Arbitrum can be unique and start supporting Reddit Community Points, at least its something innovative and have some value, it’s not DeFi nor Memecoins but new category - Community Tokens.
Other chains like Solana got nothing to offer so they’re focusing on memecoins which is temporary trend that will pass soon. And most of that trend is artificially driven. Having memecoins on Arbitrum is important but it can’t compete with other chains that are targeting memecoins and injecting a lot of capital there. This proposal is great, better than nothing and it might help a little- very little.
Arbitrum can be unique and start supporting Reddit Community Points, at least its something innovative and have some value, it’s not DeFi nor Memecoins but new category - Community Tokens.
Currently there are 2 Reddit Points on Arbitrum: r/Cryptocurrency Moons r/EthTrader Donuts
Arbitrum Dao helping the points grow, can incentivize other communities to build their own token and launch it on Arbitrum.
Success comes from innovation, trying to compete in the memecoins field at the moment can’t get any fruits. They’re not just memecoins, there’s big money behind them.
u missed wif, pepe, doge, mog, bonk, popcat, brett, bome, slerf and the other HUNDRED tokens that went to 50m- 3B on sol and base?
get mogged
It's worth noting that the "OG degen culture" that Arbitrum lacks now came from defi projects releasing NFTs in order to attract new users and build community.
Memes are the same tool, with a higher TAM, easier onboarding and due to their liquidity vs NFTs generate much more velocity in terms of liquidity sloshing around a chain.
It's worth noting that the "OG degen culture" that Arbitrum lacks now came from defi projects releasing NFTs in order to attract new users and build community.
Memes are the same tool, with a higher TAM, easier onboarding and due to their liquidity vs NFTs generate much more velocity in terms of liquidity sloshing around a chain.
For people who say that the liquidity isn't sticky - like most people in 2023/24 I got onto Sol purely for the meme coins. I now park stables in defi projects there that frankly would be on Arb if memes hadn't got me bridging in the first place.
Memes are the culture of the chain, and the single easiest way to onboard new users and show them that bridging to Arb, or buying from a CEX has very little friction, near-zero transaction fees and better infrastructure tools than anything outside of mainnet and Sol.
meme coins offered me 300% on my portfolio realized midcurvethunder.
let me guess u missed wif, pepe, bonk, doge, popcat, bome, slerf, brett, degen, and another hundred opportunities of 10-1000x becuz get rich is not ur ‘style’. u like to get poor slowly huh 😭 don’t forget u missed MOG 🫵😹
Yeah look. All these initiatives are fine, but are hundreds of millions of dollars when the easiest, simplest, already proven way to attract retail capital and activity is "number go up" and massive pnls.
No degen is going to care about any of those initiatives. They are for whales & yield-maxis.
Yeah look. All these initiatives are fine, but are hundreds of millions of dollars when the easiest, simplest, already proven way to attract retail capital and activity is "number go up" and massive pnls.
No degen is going to care about any of those initiatives. They are for whales & yield-maxis.
https://twitter.com/0xLawliette/status/1774176134130999339
Last STIP did not bring in new users. New one won't either. It will just be used by teams/whales to farm. It passed because well, the protocols directly benefiting from them are voting in favor (obviously). Gaming will take years (and Arbitrum will face heavy competition here).
It blows my mind how midcurves don't understand you absolutely need a degen ecosystem on the chain to attract users, give attention to the chain, and give marketing to the actual real protocols.
useless input with nothing actionable to suggest. if full blown aids was a person
It is undeniable at this point that memecoins bring new liquidity, users, and attention to the respective blockchain
I feel like many can agree that a "memecoin" fund would be benefical for the chain.
We're a DeFi heavy chain which is great. We're know for that, and we have some of, if not the best DeFi projects in Web3. The problem is that is all we have now. And we're having to dish out huge grants to foster growth in other areas like gaming (see recent grant).
I feel like many can agree that a "memecoin" fund would be benefical for the chain.
We're a DeFi heavy chain which is great. We're know for that, and we have some of, if not the best DeFi projects in Web3. The problem is that is all we have now. And we're having to dish out huge grants to foster growth in other areas like gaming (see recent grant).
Better to get ahead of the curve with a small grant (like this one) to see the effects. The Avax Meme fund would be an easy way to compare the success of the fund. It's also easy to see that it worked.
The ARB DAO likes to see on-chain metrics improved when they're spending $ARB. This would be extremly easy to prove with on-chain, quanitfiyable on-chain metrics with clear milestones. EX:
Active ARB addresses Volume of selected meme coin pairs Meme coin or total transactions
Our chain is going to be a ghost chain with heavy funded DeFi projects if we're not careful. Memecoins will create a wealth effect by those that are actually active in this space. Most likely creating a flywheel that will further the activity on these DEXs as community memebers have wealth to play around with.
Not to mention them using the phyiscal exchanges to trade the memecoins.
Lots of potential here. I'd be interested in getting some more Arbitrum community memebers in here to discuss.
this is something that i potentially see a problematic. It has indeed risk of insider trading. Not sure how to solve for this because is just to easy to spin up a new anon wallet
this is something that i potentially see a problematic. It has indeed risk of insider trading. Not sure how to solve for this because is just to easy to spin up a new anon wallet
Not well versed in all technicalities. Would just say anti sniping features especially because this can be fixed in the distribution of ownership.
What does this mean specifically? We need a criteria here to understand what is a go/nogo
I further communicated this later on, either burned (preferred) or locked at least 6+ months at the time of the funds review. This makes sure the fund doesn't get rugpulled.
Not sure about this. Unwinding, ok. Basically dumping, but option B does it just mean to buy again? I can see that happening as well. Again we would need at least the high level idea on when we want to keep buying and when we don’t want to. I would also add an option C that is just keeping the position in the balance sheet.
Agree. It was just an initial thought, can be lowered.
But how are these graphics, memes, video, delivered to the community? Through the official account of the coin in question? Likely the arbitrum official account, while available to highlight specific things of this proposal, won’t likely be used for a constant active support.
But I tend to lean toward the ones who said that a good meme should happen organically, and forcing it might not work.
That is why I introduced a low-risk 6 month period. ~3M arb (which can be reduced if people see fit) to test out the waters. Perhaps not all of it would be used in the 6 month period. If not, and the DAO votes at the end to dissolve the fund, it would be returned to the DAO. Remember, we are happy to give DeFi protocols ~$100M USD to keep the train running. Let's put things into perspective here.
Other chains like Solana got nothing to offer so they’re focusing on memecoins which is temporary trend that will pass soon. And most of that trend is artificially driven. Having memecoins on Arbitrum is important but it can’t compete with other chains that are targeting memecoins and injecting a lot of capital there. This proposal is great, better than nothing and it might help a little- very little.
Arbitrum can be unique and start supporting Reddit Community Points, at least its something innovative and have some value, it’s not DeFi nor Memecoins but new category - Community Tokens.
Other chains like Solana got nothing to offer so they’re focusing on memecoins which is temporary trend that will pass soon. And most of that trend is artificially driven. Having memecoins on Arbitrum is important but it can’t compete with other chains that are targeting memecoins and injecting a lot of capital there. This proposal is great, better than nothing and it might help a little- very little.
Arbitrum can be unique and start supporting Reddit Community Points, at least its something innovative and have some value, it’s not DeFi nor Memecoins but new category - Community Tokens.
Currently there are 2 Reddit Points on Arbitrum: r/Cryptocurrency Moons r/EthTrader Donuts
Arbitrum Dao helping the points grow, can incentivize other communities to build their own token and launch it on Arbitrum.
Success comes from innovation, trying to compete in the memecoins field at the moment can’t get any fruits. They’re not just memecoins, there’s big money behind them.
u missed wif, pepe, doge, mog, bonk, popcat, brett, bome, slerf and the other HUNDRED tokens that went to 50m- 3B on sol and base?
get mogged
It is undeniable at this point that memecoins bring new liquidity, users, and attention to the respective blockchain
I disagree with the base premise that this "attention" is good, and therefore disagree with this entire proposal. "Memecoins" by their definition offer nothing. The current bubble offers "community" as a benefit to participants, but more likely primarily attracts "get rich quick" users, who don't have any interest in long term activity. That is a short term gain for no long term benefit, and spending effort trying to encourage users with a short attention span I'm opposed to.
I agree with some of your points. I am merely stating that $3m is not enough to make a big enough splash in the ecosystem to drive a new narrative. I understand it doesn't need to make money. But $3m will not go very far. You might as well just endorse a project over a tweet from the Arbitrum account and achieve the same result.
Good to know you disagree with Vitalik. You are much smarter than him so I appreciate your insights: https://twitter.com/VitalikButerin/status/1773636178236895583
your protocol literally got a 200k $arb grant and did this with it
appreciate the grift
Secondly as @BlueClarity mentioned before me. These proposals take a long time to play out and by the time this proposal is anywhere near passing. The trend of memecoins could be over for the time being. Resulting in the funds being wasted on buying things that are going down-only.
Secondly as @BlueClarity mentioned before me. These proposals take a long time to play out and by the time this proposal is anywhere near passing. The trend of memecoins could be over for the time being. Resulting in the funds being wasted on buying things that are going down-only.
Thanks for your thoughts. A proposal taking a long time to play out should not mean we discard the proposal in its entirety. Again, this is why I introduced the 6-month period to test the waters.
As for your comment:
I would implore you to look around Arbitrum's DeFi landscape. You will find a good amount of protocols that have been "down-only" since 2021. Yet we are still giving them STIPs. That should not be a detering factor.
Thank you for proposing this idea. Naturally, nurturing the memcoin space on a chain is a good way to bring more eyes on the chain and bring apes to it.
We have seen from SOL that memecoins can start a rush that becomes a frenzy of activity. Similar can be said for Avalanche with their memecoin fund where they are buying memecoins as you have mentioned in your post.
I have two points:
Thank you for proposing this idea. Naturally, nurturing the memcoin space on a chain is a good way to bring more eyes on the chain and bring apes to it.
We have seen from SOL that memecoins can start a rush that becomes a frenzy of activity. Similar can be said for Avalanche with their memecoin fund where they are buying memecoins as you have mentioned in your post.
I have two points:
I do not think $3.3m of ARB is enough. Compared to the ecosystem and other chains this seems like a small amount. $3m is more of a notice towards memecoins existing but does not put big weighting behind their importance. I would suggest upping the amount to at least $10m at the very minimum. Avalanche has, for instance, $100m within their fund. Comparatively $3m is nothing.
Secondly as @BlueClarity mentioned before me. These proposals take a long time to play out and by the time this proposal is anywhere near passing. The trend of memecoins could be over for the time being. Resulting in the funds being wasted on buying things that are going down-only.
However, I would not be opposed to having a pre-approved fund that could be deployed in the right conditions. I do like the proposal and think it is in the right spirit and direction, so would be interested to hear others thoughts!
We believe there are other better ways to further attract retail capital to Arbitrum than directly making investments in these volatile tokens
We believe there are other better ways to further attract retail capital to Arbitrum than directly making investments in these volatile tokens
Further, given the current restrictions that the fund must hold the tokens for 3 months, this presents huge risks of taking losses investments.
We believe delegates and Arbitrum stakeholders should focus on more robust systems to attract retail capital and activity.
Giving funds for buyback 0 value shitcoins in favor of insiders sounds stupid. Better build something longterm. Pay for security audits for the new defi projects, marketing for them on crypto portals and so on.
Helping support the curation of memes from the chain makes sense and helps to avoid situations like Solana. However with Arbitrum’s current memecoin landscape (which is basically just $smol which doesn’t fit this proposal and was created from the grounds of fraud and deception by Treasure { provable on chain }) we would need an influx of grass root memecoins to suggest there is appetite for this.
I support this proposal. Onboarding users to web3 is really hard. A normie can easily buy BTC, ETH, ARB on any exchange. But they need to learn web3 to buy new memecoins. Memes are culture whether we like it or not. Creating a vetted fund will help users not get scammed. I see this as a win-win.
The saying go hard or go home springs to mind
Arb isnt a 'meme' chain currently and 3m is pocket change in terms of building that narrative
It's not a bad idea at all and I like the way the proposal is delivered but to have any kind of impact, really that spend should be 10x'd at least.
The saying go hard or go home springs to mind
Arb isnt a 'meme' chain currently and 3m is pocket change in terms of building that narrative
It's not a bad idea at all and I like the way the proposal is delivered but to have any kind of impact, really that spend should be 10x'd at least.
Also consider the cost of marketing as Arbitrum needs to be seen to be strong if taking on Memes so would need an ample pot to bring onboard real promotion or it will fall by the wayside
Well, not everyone can pull in the votes by reaching out to Foundation delegates and get their grants approved from the Arbitrum Foundation for obvious failing scams like Good Entry.
Maybe fix your low-liquidity, garbage options protocol first before casting stones on dumb degens begging the Foundation to pump their scams.
Well, not everyone can pull in the votes by reaching out to Foundation delegates and get their grants approved from the Arbitrum Foundation for obvious failing scams like Good Entry.
Maybe fix your low-liquidity, garbage options protocol first before casting stones on dumb degens begging the Foundation to pump their scams.
Protected perps, my ass - Good luck shilling that zero utility token to anyone who is actually willing to take a bite out of your terrible platform that has zero roadmap and a team that doesn't know how to seed the protocol liquidity on time and gets front-run on its own launch, or a fair launch pre-sale sniped by 150 wallets.
A place where the top 5 wallets account for most of the notional volume on the platform.
Maybe the foundation & it's delegates certainly need to do a better job at oversight of where their grants are actually going before some idiots go on a another fishing trip for grants in another chains (cough cough Monad cough cough)
As far as the ordinary individual is concerned, there's virtually no difference in the kind of scams/slow rugs devs run here vs an ordinary degen asking Foundations to pump their bags by aping into memecoins. Both are virtually the same.
Definitely Lol'd at the fact that despite having different tactics, both groups are cut from the same cloth, one has the audacity to claim moral high ground here.
0 for both of you, bucko.
Hello, as a fancoin on the Arbitrum network, we are pleased to support this initiative.
BobrCRV is an initiative from the CURVE community members and represents the first memcoin originating within the ecosystem. The project's purpose is to heighten awareness of DeFi and its associated projects by promoting the creation of informative and captivating content. Consequently, it strives to intensify media coverage and kindle consumer interest.
Hello, as a fancoin on the Arbitrum network, we are pleased to support this initiative.
BobrCRV is an initiative from the CURVE community members and represents the first memcoin originating within the ecosystem. The project's purpose is to heighten awareness of DeFi and its associated projects by promoting the creation of informative and captivating content. Consequently, it strives to intensify media coverage and kindle consumer interest.
Initial major trading commenced on the Arbitrum network in January this year. Currently, there is liquidity across three networks: Arbitrum, Ethereum, and Fraxtal.
Proposal queries:
Will liquidity be considered across all networks, or solely on Arbitrum?
Is there flexibility considering other team and community merits regarding the token, when evaluating acceptance criteria if it falls short in certain parameters? For instance, active participation in incentives through ve-tokenomics projects, support from notable DeFi founders and communities, educational initiatives, and engagement in various protocol operations through gamification.
Will there be a commission available in real-time to communicate with applicants, potentially through Telegram or Discord chat?
It is undeniable at this point that memecoins bring new liquidity, users, and attention to the respective blockchain
I disagree with the base premise that this "attention" is good, and therefore disagree with this entire proposal. "Memecoins" by their definition offer nothing. The current bubble offers "community" as a benefit to participants, but more likely primarily attracts "get rich quick" users, who don't have any interest in long term activity. That is a short term gain for no long term benefit, and spending effort trying to encourage users with a short attention span I'm opposed to.
I agree with some of your points. I am merely stating that $3m is not enough to make a big enough splash in the ecosystem to drive a new narrative. I understand it doesn't need to make money. But $3m will not go very far. You might as well just endorse a project over a tweet from the Arbitrum account and achieve the same result.
Good to know you disagree with Vitalik. You are much smarter than him so I appreciate your insights: https://twitter.com/VitalikButerin/status/1773636178236895583
your protocol literally got a 200k $arb grant and did this with it
appreciate the grift
Secondly as @BlueClarity mentioned before me. These proposals take a long time to play out and by the time this proposal is anywhere near passing. The trend of memecoins could be over for the time being. Resulting in the funds being wasted on buying things that are going down-only.
Secondly as @BlueClarity mentioned before me. These proposals take a long time to play out and by the time this proposal is anywhere near passing. The trend of memecoins could be over for the time being. Resulting in the funds being wasted on buying things that are going down-only.
Thanks for your thoughts. A proposal taking a long time to play out should not mean we discard the proposal in its entirety. Again, this is why I introduced the 6-month period to test the waters.
As for your comment:
I would implore you to look around Arbitrum's DeFi landscape. You will find a good amount of protocols that have been "down-only" since 2021. Yet we are still giving them STIPs. That should not be a detering factor.
Thank you for proposing this idea. Naturally, nurturing the memcoin space on a chain is a good way to bring more eyes on the chain and bring apes to it.
We have seen from SOL that memecoins can start a rush that becomes a frenzy of activity. Similar can be said for Avalanche with their memecoin fund where they are buying memecoins as you have mentioned in your post.
I have two points:
Thank you for proposing this idea. Naturally, nurturing the memcoin space on a chain is a good way to bring more eyes on the chain and bring apes to it.
We have seen from SOL that memecoins can start a rush that becomes a frenzy of activity. Similar can be said for Avalanche with their memecoin fund where they are buying memecoins as you have mentioned in your post.
I have two points:
I do not think $3.3m of ARB is enough. Compared to the ecosystem and other chains this seems like a small amount. $3m is more of a notice towards memecoins existing but does not put big weighting behind their importance. I would suggest upping the amount to at least $10m at the very minimum. Avalanche has, for instance, $100m within their fund. Comparatively $3m is nothing.
Secondly as @BlueClarity mentioned before me. These proposals take a long time to play out and by the time this proposal is anywhere near passing. The trend of memecoins could be over for the time being. Resulting in the funds being wasted on buying things that are going down-only.
However, I would not be opposed to having a pre-approved fund that could be deployed in the right conditions. I do like the proposal and think it is in the right spirit and direction, so would be interested to hear others thoughts!
We believe there are other better ways to further attract retail capital to Arbitrum than directly making investments in these volatile tokens
We believe there are other better ways to further attract retail capital to Arbitrum than directly making investments in these volatile tokens
Further, given the current restrictions that the fund must hold the tokens for 3 months, this presents huge risks of taking losses investments.
We believe delegates and Arbitrum stakeholders should focus on more robust systems to attract retail capital and activity.
Giving funds for buyback 0 value shitcoins in favor of insiders sounds stupid. Better build something longterm. Pay for security audits for the new defi projects, marketing for them on crypto portals and so on.
Helping support the curation of memes from the chain makes sense and helps to avoid situations like Solana. However with Arbitrum’s current memecoin landscape (which is basically just $smol which doesn’t fit this proposal and was created from the grounds of fraud and deception by Treasure { provable on chain }) we would need an influx of grass root memecoins to suggest there is appetite for this.
I support this proposal. Onboarding users to web3 is really hard. A normie can easily buy BTC, ETH, ARB on any exchange. But they need to learn web3 to buy new memecoins. Memes are culture whether we like it or not. Creating a vetted fund will help users not get scammed. I see this as a win-win.
The saying go hard or go home springs to mind
Arb isnt a 'meme' chain currently and 3m is pocket change in terms of building that narrative
It's not a bad idea at all and I like the way the proposal is delivered but to have any kind of impact, really that spend should be 10x'd at least.
The saying go hard or go home springs to mind
Arb isnt a 'meme' chain currently and 3m is pocket change in terms of building that narrative
It's not a bad idea at all and I like the way the proposal is delivered but to have any kind of impact, really that spend should be 10x'd at least.
Also consider the cost of marketing as Arbitrum needs to be seen to be strong if taking on Memes so would need an ample pot to bring onboard real promotion or it will fall by the wayside
Well, not everyone can pull in the votes by reaching out to Foundation delegates and get their grants approved from the Arbitrum Foundation for obvious failing scams like Good Entry.
Maybe fix your low-liquidity, garbage options protocol first before casting stones on dumb degens begging the Foundation to pump their scams.
Well, not everyone can pull in the votes by reaching out to Foundation delegates and get their grants approved from the Arbitrum Foundation for obvious failing scams like Good Entry.
Maybe fix your low-liquidity, garbage options protocol first before casting stones on dumb degens begging the Foundation to pump their scams.
Protected perps, my ass - Good luck shilling that zero utility token to anyone who is actually willing to take a bite out of your terrible platform that has zero roadmap and a team that doesn't know how to seed the protocol liquidity on time and gets front-run on its own launch, or a fair launch pre-sale sniped by 150 wallets.
A place where the top 5 wallets account for most of the notional volume on the platform.
Maybe the foundation & it's delegates certainly need to do a better job at oversight of where their grants are actually going before some idiots go on a another fishing trip for grants in another chains (cough cough Monad cough cough)
As far as the ordinary individual is concerned, there's virtually no difference in the kind of scams/slow rugs devs run here vs an ordinary degen asking Foundations to pump their bags by aping into memecoins. Both are virtually the same.
Definitely Lol'd at the fact that despite having different tactics, both groups are cut from the same cloth, one has the audacity to claim moral high ground here.
0 for both of you, bucko.
Hello, as a fancoin on the Arbitrum network, we are pleased to support this initiative.
BobrCRV is an initiative from the CURVE community members and represents the first memcoin originating within the ecosystem. The project's purpose is to heighten awareness of DeFi and its associated projects by promoting the creation of informative and captivating content. Consequently, it strives to intensify media coverage and kindle consumer interest.
Hello, as a fancoin on the Arbitrum network, we are pleased to support this initiative.
BobrCRV is an initiative from the CURVE community members and represents the first memcoin originating within the ecosystem. The project's purpose is to heighten awareness of DeFi and its associated projects by promoting the creation of informative and captivating content. Consequently, it strives to intensify media coverage and kindle consumer interest.
Initial major trading commenced on the Arbitrum network in January this year. Currently, there is liquidity across three networks: Arbitrum, Ethereum, and Fraxtal.
Proposal queries:
Will liquidity be considered across all networks, or solely on Arbitrum?
Is there flexibility considering other team and community merits regarding the token, when evaluating acceptance criteria if it falls short in certain parameters? For instance, active participation in incentives through ve-tokenomics projects, support from notable DeFi founders and communities, educational initiatives, and engagement in various protocol operations through gamification.
Will there be a commission available in real-time to communicate with applicants, potentially through Telegram or Discord chat?
Support arbdoge I think it's OK
Hey builders!
Our recent article covers the proposed memecoin fund and its potential impact.
If you'd like to contribute an opinion or quote to the article, please PM us, and we'll update it accordingly.
i think we need aidoge
Maybe offer a better solution then? The fund doesn't have to inject money into memecoins, it can be altered to only offer services like designers/marketing help etc. Something to help spur the culture.
Not sure why you are so mad about this. I'm literally just trying to help onboard new users and attention to Arbitrum. This will only help your $1.2k vol/day token.
Real initiative should be rebranding Arbitrum, worst name and branding in the space, will be the single most imposing obstacle to getting new users especially retail users. I am curious to see what a meme coin fund like this could do, but jesus does Arbitrum need a name change.
First and foremost, I want to applaud OP for presenting an initiative that seeks to approach eco/community development on Arbitrum from a different angle. Proposals like this are crucial for disrupting the current status quo. This matter has been debated elsewhere, and I've already expressed some spontaneous thoughts on it (outside this forum), which I'll reiterate here.
While establishing a memecoin fund might appear as a practical means to encourage increased community engagement and foster a distinctive culture on Arbitrum, we've witnessed in other ecosystems that memecoin activity typically arises from a naturally occurring success story. This pattern is observable across various ecosystems currently witnessing memecoin phenomena. Once a success story emerges, it becomes feasible to enhance development around it through supplementary programs, akin to this proposal.
First and foremost, I want to applaud OP for presenting an initiative that seeks to approach eco/community development on Arbitrum from a different angle. Proposals like this are crucial for disrupting the current status quo. This matter has been debated elsewhere, and I've already expressed some spontaneous thoughts on it (outside this forum), which I'll reiterate here.
While establishing a memecoin fund might appear as a practical means to encourage increased community engagement and foster a distinctive culture on Arbitrum, we've witnessed in other ecosystems that memecoin activity typically arises from a naturally occurring success story. This pattern is observable across various ecosystems currently witnessing memecoin phenomena. Once a success story emerges, it becomes feasible to enhance development around it through supplementary programs, akin to this proposal.
Furthermore, our experiences in day-to-day operations via the DAO reveal that proposals often take several months to materialize. Proposals like this one are likely to undergo an extended process before reaching consensus and activation (if approved).
Arbitrum can boost considerable depth and talent in its MEMEFi sector and is positioning itself for significant growth, particularly within the gaming industry, that can corelate. I'm eager to observe how the discussion progresses from here.
Also in favour, $smol is culture
In favour of the proposal.
Using memes to bring more users/ attention to a already strong Defi ecosystem can only help arbitrum as a whole.
This is a wonderful proposal, i am in full support for this. Diversification into different areas will be an added advantage to Arbitrum network to attract more active users and liquidity to Arbitrum network
Your initiative to establish a memecoin fund within the Arbitrum ecosystem is not only timely but also strategically sound. Memecoins have undeniably become a significant force driving liquidity and attention to blockchain platforms, as evidenced by their impact on other chains like Solana. By embracing this trend, Arbitrum has the opportunity to not only attract new users and attention but also to diversify its ecosystem beyond the confines of DeFi.
The rationale for creating this fund is compelling, particularly in addressing the stagnation in daily active users and the dominance of other projects like BASE. Emphasizing the need to adapt to the evolving landscape of blockchain technology, your proposal aligns with the broader goal of fostering growth and innovation within the Arbitrum ecosystem. Additionally, your commitment to transparency and accountability, as demonstrated through the rigorous vetting process for fund contributors and the implementation of multi-sig security measures, inspires confidence in the integrity of the initiative.
I support . It will help to onboard new ppl.
This is cringe and lame.
"Our memes sucks and fail to attract exit liquidity, please the foundation inject money (for the culture)"
I loled though, appreciate the grift and asking high paid salaries for ppl to generate memes
this will contribute greatly to Arbitrum's ecosystem, look at what the solana system has done, they have attracted attention and a huge amount of cash flow since $BONK became famous. And what does our Arbitrum system have? In my personal opinion, the current meme leader on Arbitrum is definitely $AIDOGE, it has been a huge hit since its release, the entire LP has been burned! and the LP is huge, up to $4M currently. And I believe that in the future it will be a true memecoin leader on the Arbitrum chain!
AIDOGE?Let's wait and see.
Firstly, I commend OP for putting something forward that aims to take a different approach with eco/community development on Arbitrum. Proposals such as this are important to shake up existing status quo. This has been a discussion elsewhere and I've shared some thoughts ad-hoc on this already (outside of forum) and will reiterate the same thoughts here.
While a memecoin fund might seem like a pragmatic way to foster greater community activity and culture on Arbitrum, what we've seen play out in other ecosystems is that memecoin activity stems from a catalyst that is an organically driven success story. This is evident in every ecosystem that currently has attention for memecoins. Once you get a success story, you can boost development around that with amplifying programs, such as this.
Firstly, I commend OP for putting something forward that aims to take a different approach with eco/community development on Arbitrum. Proposals such as this are important to shake up existing status quo. This has been a discussion elsewhere and I've shared some thoughts ad-hoc on this already (outside of forum) and will reiterate the same thoughts here.
While a memecoin fund might seem like a pragmatic way to foster greater community activity and culture on Arbitrum, what we've seen play out in other ecosystems is that memecoin activity stems from a catalyst that is an organically driven success story. This is evident in every ecosystem that currently has attention for memecoins. Once you get a success story, you can boost development around that with amplifying programs, such as this.
What we've also seen in day to day operations via the DAO is that proposals take many months to come to fruition. Proposals such as this, will be on the longer end before agreement and activation (if passing). The DAO is anything but nimble, so reacting to market trends now is IMO not a diligent focus for the resources of the DAO.
Arbitrum has huge depth and talent in its DeFi arena, and is setting itself up for a surge in growth within the gaming sector. The DAO must embrace Arbitrums core strengths today and aim to build new narratives around those core strengths, rather than chase trends we see unfold now and try to force narratives.
I'm keen to see how discussion spans from here, the above is my personal view but i think proposals, such as this, are important to help broaden views and kickstart new conversations and ideas.
I am in favor of this proposal, $boop is culture and wants to help build the Arbitrum community.
beyond buying meme coins, some actionable steps to reduce friction of using arb the dao can do are:
beyond buying meme coins, some actionable steps to reduce friction of using arb the dao can do are:
allocating to memes is great but removing friction by offering tools to bridge liquidity and degen on arb is crucial
In favor. However, we must not put $smol under this initiative, since it was deceptively launched by a founder of Treasure (provably through the blockchain).
Support arbdoge I think it's OK
Hey builders!
Our recent article covers the proposed memecoin fund and its potential impact.
If you'd like to contribute an opinion or quote to the article, please PM us, and we'll update it accordingly.
i think we need aidoge
Maybe offer a better solution then? The fund doesn't have to inject money into memecoins, it can be altered to only offer services like designers/marketing help etc. Something to help spur the culture.
Not sure why you are so mad about this. I'm literally just trying to help onboard new users and attention to Arbitrum. This will only help your $1.2k vol/day token.
Real initiative should be rebranding Arbitrum, worst name and branding in the space, will be the single most imposing obstacle to getting new users especially retail users. I am curious to see what a meme coin fund like this could do, but jesus does Arbitrum need a name change.
First and foremost, I want to applaud OP for presenting an initiative that seeks to approach eco/community development on Arbitrum from a different angle. Proposals like this are crucial for disrupting the current status quo. This matter has been debated elsewhere, and I've already expressed some spontaneous thoughts on it (outside this forum), which I'll reiterate here.
While establishing a memecoin fund might appear as a practical means to encourage increased community engagement and foster a distinctive culture on Arbitrum, we've witnessed in other ecosystems that memecoin activity typically arises from a naturally occurring success story. This pattern is observable across various ecosystems currently witnessing memecoin phenomena. Once a success story emerges, it becomes feasible to enhance development around it through supplementary programs, akin to this proposal.
First and foremost, I want to applaud OP for presenting an initiative that seeks to approach eco/community development on Arbitrum from a different angle. Proposals like this are crucial for disrupting the current status quo. This matter has been debated elsewhere, and I've already expressed some spontaneous thoughts on it (outside this forum), which I'll reiterate here.
While establishing a memecoin fund might appear as a practical means to encourage increased community engagement and foster a distinctive culture on Arbitrum, we've witnessed in other ecosystems that memecoin activity typically arises from a naturally occurring success story. This pattern is observable across various ecosystems currently witnessing memecoin phenomena. Once a success story emerges, it becomes feasible to enhance development around it through supplementary programs, akin to this proposal.
Furthermore, our experiences in day-to-day operations via the DAO reveal that proposals often take several months to materialize. Proposals like this one are likely to undergo an extended process before reaching consensus and activation (if approved).
Arbitrum can boost considerable depth and talent in its MEMEFi sector and is positioning itself for significant growth, particularly within the gaming industry, that can corelate. I'm eager to observe how the discussion progresses from here.
Also in favour, $smol is culture
In favour of the proposal.
Using memes to bring more users/ attention to a already strong Defi ecosystem can only help arbitrum as a whole.
This is a wonderful proposal, i am in full support for this. Diversification into different areas will be an added advantage to Arbitrum network to attract more active users and liquidity to Arbitrum network
Your initiative to establish a memecoin fund within the Arbitrum ecosystem is not only timely but also strategically sound. Memecoins have undeniably become a significant force driving liquidity and attention to blockchain platforms, as evidenced by their impact on other chains like Solana. By embracing this trend, Arbitrum has the opportunity to not only attract new users and attention but also to diversify its ecosystem beyond the confines of DeFi.
The rationale for creating this fund is compelling, particularly in addressing the stagnation in daily active users and the dominance of other projects like BASE. Emphasizing the need to adapt to the evolving landscape of blockchain technology, your proposal aligns with the broader goal of fostering growth and innovation within the Arbitrum ecosystem. Additionally, your commitment to transparency and accountability, as demonstrated through the rigorous vetting process for fund contributors and the implementation of multi-sig security measures, inspires confidence in the integrity of the initiative.
I support . It will help to onboard new ppl.
This is cringe and lame.
"Our memes sucks and fail to attract exit liquidity, please the foundation inject money (for the culture)"
I loled though, appreciate the grift and asking high paid salaries for ppl to generate memes
this will contribute greatly to Arbitrum's ecosystem, look at what the solana system has done, they have attracted attention and a huge amount of cash flow since $BONK became famous. And what does our Arbitrum system have? In my personal opinion, the current meme leader on Arbitrum is definitely $AIDOGE, it has been a huge hit since its release, the entire LP has been burned! and the LP is huge, up to $4M currently. And I believe that in the future it will be a true memecoin leader on the Arbitrum chain!
AIDOGE?Let's wait and see.
Firstly, I commend OP for putting something forward that aims to take a different approach with eco/community development on Arbitrum. Proposals such as this are important to shake up existing status quo. This has been a discussion elsewhere and I've shared some thoughts ad-hoc on this already (outside of forum) and will reiterate the same thoughts here.
While a memecoin fund might seem like a pragmatic way to foster greater community activity and culture on Arbitrum, what we've seen play out in other ecosystems is that memecoin activity stems from a catalyst that is an organically driven success story. This is evident in every ecosystem that currently has attention for memecoins. Once you get a success story, you can boost development around that with amplifying programs, such as this.
Firstly, I commend OP for putting something forward that aims to take a different approach with eco/community development on Arbitrum. Proposals such as this are important to shake up existing status quo. This has been a discussion elsewhere and I've shared some thoughts ad-hoc on this already (outside of forum) and will reiterate the same thoughts here.
While a memecoin fund might seem like a pragmatic way to foster greater community activity and culture on Arbitrum, what we've seen play out in other ecosystems is that memecoin activity stems from a catalyst that is an organically driven success story. This is evident in every ecosystem that currently has attention for memecoins. Once you get a success story, you can boost development around that with amplifying programs, such as this.
What we've also seen in day to day operations via the DAO is that proposals take many months to come to fruition. Proposals such as this, will be on the longer end before agreement and activation (if passing). The DAO is anything but nimble, so reacting to market trends now is IMO not a diligent focus for the resources of the DAO.
Arbitrum has huge depth and talent in its DeFi arena, and is setting itself up for a surge in growth within the gaming sector. The DAO must embrace Arbitrums core strengths today and aim to build new narratives around those core strengths, rather than chase trends we see unfold now and try to force narratives.
I'm keen to see how discussion spans from here, the above is my personal view but i think proposals, such as this, are important to help broaden views and kickstart new conversations and ideas.
I am in favor of this proposal, $boop is culture and wants to help build the Arbitrum community.
beyond buying meme coins, some actionable steps to reduce friction of using arb the dao can do are:
beyond buying meme coins, some actionable steps to reduce friction of using arb the dao can do are:
allocating to memes is great but removing friction by offering tools to bridge liquidity and degen on arb is crucial
In favor. However, we must not put $smol under this initiative, since it was deceptively launched by a founder of Treasure (provably through the blockchain).
Your initiative to establish a memecoin fund within the Arbitrum ecosystem is not only timely but also strategically sound. Memecoins have undeniably become a significant force driving liquidity and attention to blockchain platforms, as evidenced by their impact on other chains like Solana. By embracing this trend, Arbitrum has the opportunity to not only attract new users and attention but also to diversify its ecosystem beyond the confines of DeFi.
The rationale for creating this fund is compelling, particularly in addressing the stagnation in daily active users and the dominance of other projects like BASE. Emphasizing the need to adapt to the evolving landscape of blockchain technology, your proposal aligns with the broader goal of fostering growth and innovation within the Arbitrum ecosystem. Additionally, your commitment to transparency and accountability, as demonstrated through the rigorous vetting process for fund contributors and the implementation of multi-sig security measures, inspires confidence in the integrity of the initiative.
Furthermore, the outlined specifications for the fund, including criteria for selecting memecoins and the process for supporting them, reflect a thoughtful and systematic approach to mitigating risks and maximizing impact. The proposed timeline for implementation, coupled with the provision for ongoing evaluation and potential adjustments, underscores a commitment to adaptability and responsiveness to the evolving needs of the ecosystem. Overall, the initiative holds great promise for energizing the Arbitrum community, attracting new participants, and enriching the platform's offerings beyond traditional DeFi, thereby positioning Arbitrum as a vibrant and dynamic hub for blockchain innovation.
Also Strongly in favour. Arb's tech and positioning is rock solid but is so far failing to capitalise on one of the strongest narratives in this bull so far and that undeniably is memes. There are very strong OG projects such as Smol Brains (Smolverse) and their community coin $smol that have been staunch supporters of Arb. Others have come along to attempt to capitalise but have little community or culture to associate with it. I see this as a prime initiative to support those that have supported the chain throughout the bear and believed strongly that they're in the right place.
a strong initiative. $smol needs an LP on sushi or uniswap.
Thanks for your thoughts. Responding since it was my post.
what we’ve seen play out in other ecosystems is that memecoin activity stems from a catalyst that is an organically driven success story.
Thanks for your thoughts. Responding since it was my post.
what we’ve seen play out in other ecosystems is that memecoin activity stems from a catalyst that is an organically driven success story.
Arbitrum today is a game of chairs between DeFi protocols and participants. You want to embrace Arbitrums core strengths? Bring in more users. Memes are proven to work. The downstream effects to DeFi protocols (Arbitrums core strength) are evident - Solana being the case study.
What we’ve also seen in day to day operations via the DAO is that proposals take many months to come to fruition. Proposals such as this, will be on the longer end before agreement and activation (if passing). The DAO is anything but nimble, so reacting to market trends now is IMO not a diligent focus for the resources of the DAO.
Ok, so if takes some time, we shouldn't entertain the idea at all? That is the reason why I introduced the 6-month test period. I find it ironic how STIP round 2 is being rushed to a vote so quickly.
Arbitrum has huge depth and talent in its DeFi arena, and is setting itself up for a surge in growth within the gaming sector. The DAO must embrace Arbitrums core strengths today and aim to build new narratives around those core strengths, rather than chase trends we see unfold now and try to force narratives.
Not sure how familiar you are with the gaming category, but it takes years for game development. I would ask you to provide evidence on how Arbitrum is winning in gaming or it being a core strength. Solana, Ronin, Avax, Immutable are winning web3 gaming. There's no evidence anywhere that Arbitrum is winning any AAA games. Fine, if you want to slice out Indie games, ok.
There is no "chasing" narratives here. Memecoins are not a narrative anymore. They've solidified their use-case in crypto and it would be foolish of Arbitrum to not even try. Speaking with some DeFi founders - they want memes.
supporting memecoins on arb will have a flow on benefit to all projects building here.
In favour, $smol is culture
Strongly in favor. If we're going to spend effort promoting activity, let's go where the activity is.
Love that this has been started. Onboarding is a huge consideration for the success of any chain. I have some thoughts that I want to write down to help add to this proposal, but wanted to reply to demonstrate support. Arbitrum has a significant edge to Solana on speed and reliability of transactions, and now is nearly comparable in fees. There's no reason we can't try to support the memecoin narrative with more liquidity, access, and marketing.
Sounds good. I think this is a good proposal.
If supported by this fund I would like to see a % of a successful memecoin's treasuries going back into more productive means within the ecosystem.
I'm in strong favor of this concept. Getting more people to transact and stay on Arbitrum includes not just defi usecases but all types of users which include memecoin enjoyers. To simply ignore that entire slice of crypto users will be a short term and a long term loss for Arbitrum. This proposal won't be the silver bullet to solve everything but it would be a strong step in a direction that showcases the Arbitrum is willing to support all types of users.
This proposal would send a good signal and would likely capture new users who haven't made the journey to Arbitrum because there is extremely limited meme interest right now relative to almost every other place. Some of those users will stay and continue using the entire ecosystem and become a net positive.
I'm in strong favor of this concept. Getting more people to transact and stay on Arbitrum includes not just defi usecases but all types of users which include memecoin enjoyers. To simply ignore that entire slice of crypto users will be a short term and a long term loss for Arbitrum. This proposal won't be the silver bullet to solve everything but it would be a strong step in a direction that showcases the Arbitrum is willing to support all types of users.
This proposal would send a good signal and would likely capture new users who haven't made the journey to Arbitrum because there is extremely limited meme interest right now relative to almost every other place. Some of those users will stay and continue using the entire ecosystem and become a net positive.
Edit: If anything, perhaps increasing the memecoin fund by 3-4x above the current proposal would make sense imo.
In favour, $smol is culture
Your initiative to establish a memecoin fund within the Arbitrum ecosystem is not only timely but also strategically sound. Memecoins have undeniably become a significant force driving liquidity and attention to blockchain platforms, as evidenced by their impact on other chains like Solana. By embracing this trend, Arbitrum has the opportunity to not only attract new users and attention but also to diversify its ecosystem beyond the confines of DeFi.
The rationale for creating this fund is compelling, particularly in addressing the stagnation in daily active users and the dominance of other projects like BASE. Emphasizing the need to adapt to the evolving landscape of blockchain technology, your proposal aligns with the broader goal of fostering growth and innovation within the Arbitrum ecosystem. Additionally, your commitment to transparency and accountability, as demonstrated through the rigorous vetting process for fund contributors and the implementation of multi-sig security measures, inspires confidence in the integrity of the initiative.
Furthermore, the outlined specifications for the fund, including criteria for selecting memecoins and the process for supporting them, reflect a thoughtful and systematic approach to mitigating risks and maximizing impact. The proposed timeline for implementation, coupled with the provision for ongoing evaluation and potential adjustments, underscores a commitment to adaptability and responsiveness to the evolving needs of the ecosystem. Overall, the initiative holds great promise for energizing the Arbitrum community, attracting new participants, and enriching the platform's offerings beyond traditional DeFi, thereby positioning Arbitrum as a vibrant and dynamic hub for blockchain innovation.
Also Strongly in favour. Arb's tech and positioning is rock solid but is so far failing to capitalise on one of the strongest narratives in this bull so far and that undeniably is memes. There are very strong OG projects such as Smol Brains (Smolverse) and their community coin $smol that have been staunch supporters of Arb. Others have come along to attempt to capitalise but have little community or culture to associate with it. I see this as a prime initiative to support those that have supported the chain throughout the bear and believed strongly that they're in the right place.
a strong initiative. $smol needs an LP on sushi or uniswap.
Thanks for your thoughts. Responding since it was my post.
what we’ve seen play out in other ecosystems is that memecoin activity stems from a catalyst that is an organically driven success story.
Thanks for your thoughts. Responding since it was my post.
what we’ve seen play out in other ecosystems is that memecoin activity stems from a catalyst that is an organically driven success story.
Arbitrum today is a game of chairs between DeFi protocols and participants. You want to embrace Arbitrums core strengths? Bring in more users. Memes are proven to work. The downstream effects to DeFi protocols (Arbitrums core strength) are evident - Solana being the case study.
What we’ve also seen in day to day operations via the DAO is that proposals take many months to come to fruition. Proposals such as this, will be on the longer end before agreement and activation (if passing). The DAO is anything but nimble, so reacting to market trends now is IMO not a diligent focus for the resources of the DAO.
Ok, so if takes some time, we shouldn't entertain the idea at all? That is the reason why I introduced the 6-month test period. I find it ironic how STIP round 2 is being rushed to a vote so quickly.
Arbitrum has huge depth and talent in its DeFi arena, and is setting itself up for a surge in growth within the gaming sector. The DAO must embrace Arbitrums core strengths today and aim to build new narratives around those core strengths, rather than chase trends we see unfold now and try to force narratives.
Not sure how familiar you are with the gaming category, but it takes years for game development. I would ask you to provide evidence on how Arbitrum is winning in gaming or it being a core strength. Solana, Ronin, Avax, Immutable are winning web3 gaming. There's no evidence anywhere that Arbitrum is winning any AAA games. Fine, if you want to slice out Indie games, ok.
There is no "chasing" narratives here. Memecoins are not a narrative anymore. They've solidified their use-case in crypto and it would be foolish of Arbitrum to not even try. Speaking with some DeFi founders - they want memes.
supporting memecoins on arb will have a flow on benefit to all projects building here.
In favour, $smol is culture
Strongly in favor. If we're going to spend effort promoting activity, let's go where the activity is.
Love that this has been started. Onboarding is a huge consideration for the success of any chain. I have some thoughts that I want to write down to help add to this proposal, but wanted to reply to demonstrate support. Arbitrum has a significant edge to Solana on speed and reliability of transactions, and now is nearly comparable in fees. There's no reason we can't try to support the memecoin narrative with more liquidity, access, and marketing.
Sounds good. I think this is a good proposal.
If supported by this fund I would like to see a % of a successful memecoin's treasuries going back into more productive means within the ecosystem.
I'm in strong favor of this concept. Getting more people to transact and stay on Arbitrum includes not just defi usecases but all types of users which include memecoin enjoyers. To simply ignore that entire slice of crypto users will be a short term and a long term loss for Arbitrum. This proposal won't be the silver bullet to solve everything but it would be a strong step in a direction that showcases the Arbitrum is willing to support all types of users.
This proposal would send a good signal and would likely capture new users who haven't made the journey to Arbitrum because there is extremely limited meme interest right now relative to almost every other place. Some of those users will stay and continue using the entire ecosystem and become a net positive.
I'm in strong favor of this concept. Getting more people to transact and stay on Arbitrum includes not just defi usecases but all types of users which include memecoin enjoyers. To simply ignore that entire slice of crypto users will be a short term and a long term loss for Arbitrum. This proposal won't be the silver bullet to solve everything but it would be a strong step in a direction that showcases the Arbitrum is willing to support all types of users.
This proposal would send a good signal and would likely capture new users who haven't made the journey to Arbitrum because there is extremely limited meme interest right now relative to almost every other place. Some of those users will stay and continue using the entire ecosystem and become a net positive.
Edit: If anything, perhaps increasing the memecoin fund by 3-4x above the current proposal would make sense imo.
In favour, $smol is culture
I echo Jojo's sentiment and appreciate that @0xkawz brought this conversation to the forums so we can have a thoughtful debate. Here is the original Twitter thread for reference: https://x.com/BFreshHB/status/1776690105429770295
Regarding the memecoin fund, these are the questions that I would encourage us to think about:
I echo Jojo's sentiment and appreciate that @0xkawz brought this conversation to the forums so we can have a thoughtful debate. Here is the original Twitter thread for reference: https://x.com/BFreshHB/status/1776690105429770295
Regarding the memecoin fund, these are the questions that I would encourage us to think about:
The Avalanche Foundation aims, among other things, to make the use of the Avalanche blockchain synonymous with creativity, culture, and lifestyle.
I know you are very early in thinking through the fund and its structure. Thanks again for starting this conversation on the forum.
Hello @0xkawz,
This is Oyeniyi Abiola Peace from the Blockchain Innovation Hub. After discussing this proposal with the team, this is our view of the proposal.
While this proposal might be worth funding, there might be problems regarding memecoins seeking funds from DAO if the following concerns are not addressed.
Hello @0xkawz,
This is Oyeniyi Abiola Peace from the Blockchain Innovation Hub. After discussing this proposal with the team, this is our view of the proposal.
While this proposal might be worth funding, there might be problems regarding memecoins seeking funds from DAO if the following concerns are not addressed.
2)How do we intend to measure the daily trading value if people are trading with bots?
How do we ensure the project founders would not secretly allocate wallets to themselves?
How do we ensure that there won't be insider trading?
Will there be mandatory KYC for project founders?
The DAO should not be obliged to fund memecoins when transparency and accountability cannot be guaranteed.
I do not support this proposal. It does not develop the Arbitrum ecosystem in any way and will only attract casino and easy money lovers. Btw, you can launch your meme token at any time, you don't need DAO authorization
Memecoins are becoming an important part of this cycle narrative and have the potential to be the base of something interesting (subculture birth, new forms of community gathering, ...).
As a DAO, we should never get involved in buying specific speculative assets, but we should fund shovel-and-picks plays.
Memecoins are becoming an important part of this cycle narrative and have the potential to be the base of something interesting (subculture birth, new forms of community gathering, ...).
As a DAO, we should never get involved in buying specific speculative assets, but we should fund shovel-and-picks plays.
Let's have builders come to Arbitrum to build the tools to launch new memecoins, monitor their trends, gather with their communities.
Examples:
https://www.pump.fun/ on Blast Party.app on Base ...
This is the type of innovation I would like to see on Arbitrum, and the one that I would back with ARB funding.
So far all I see are organizations like yours saying “We think there are better ways” but not offering any solutions.
I echo Jojo's sentiment and appreciate that @0xkawz brought this conversation to the forums so we can have a thoughtful debate. Here is the original Twitter thread for reference: https://x.com/BFreshHB/status/1776690105429770295
Regarding the memecoin fund, these are the questions that I would encourage us to think about:
I echo Jojo's sentiment and appreciate that @0xkawz brought this conversation to the forums so we can have a thoughtful debate. Here is the original Twitter thread for reference: https://x.com/BFreshHB/status/1776690105429770295
Regarding the memecoin fund, these are the questions that I would encourage us to think about:
The Avalanche Foundation aims, among other things, to make the use of the Avalanche blockchain synonymous with creativity, culture, and lifestyle.
I know you are very early in thinking through the fund and its structure. Thanks again for starting this conversation on the forum.
Hello @0xkawz,
This is Oyeniyi Abiola Peace from the Blockchain Innovation Hub. After discussing this proposal with the team, this is our view of the proposal.
While this proposal might be worth funding, there might be problems regarding memecoins seeking funds from DAO if the following concerns are not addressed.
Hello @0xkawz,
This is Oyeniyi Abiola Peace from the Blockchain Innovation Hub. After discussing this proposal with the team, this is our view of the proposal.
While this proposal might be worth funding, there might be problems regarding memecoins seeking funds from DAO if the following concerns are not addressed.
2)How do we intend to measure the daily trading value if people are trading with bots?
How do we ensure the project founders would not secretly allocate wallets to themselves?
How do we ensure that there won't be insider trading?
Will there be mandatory KYC for project founders?
The DAO should not be obliged to fund memecoins when transparency and accountability cannot be guaranteed.
I do not support this proposal. It does not develop the Arbitrum ecosystem in any way and will only attract casino and easy money lovers. Btw, you can launch your meme token at any time, you don't need DAO authorization
Memecoins are becoming an important part of this cycle narrative and have the potential to be the base of something interesting (subculture birth, new forms of community gathering, ...).
As a DAO, we should never get involved in buying specific speculative assets, but we should fund shovel-and-picks plays.
Memecoins are becoming an important part of this cycle narrative and have the potential to be the base of something interesting (subculture birth, new forms of community gathering, ...).
As a DAO, we should never get involved in buying specific speculative assets, but we should fund shovel-and-picks plays.
Let's have builders come to Arbitrum to build the tools to launch new memecoins, monitor their trends, gather with their communities.
Examples:
https://www.pump.fun/ on Blast Party.app on Base ...
This is the type of innovation I would like to see on Arbitrum, and the one that I would back with ARB funding.
So far all I see are organizations like yours saying “We think there are better ways” but not offering any solutions.
So far all I see are organizations like yours saying “We think there are better ways” but not offering any solutions.
I'm sorry you feel like this about the DAO's initiatives. Since you joined this forum one week ago, it's fair that you may not know what's going on. I'll take it as something that should be improved ASAP. I mean, getting people outside the forum to know what initiatives are being discussed and approved to attract retail capital and activity, as @PennBlockchain pointed out.
Top of my mind, I can share that we currently have:
So, many solutions are currently being discussed to foster Arbitrum's growth.
How do you think communication can be improved in order to let more people now or be aware about these initiatives?
I don’t support this proposal because I don’t see the benefit of attracting users who will only buy these memcoins. These users are of no use to Arbitrum. In addition, you can launch this memcoin without the participation of Arbitrum
The team at FranklinDAO/Penn Blockchain are generally opposed to Arbitrum allocating capital for the memecoin fund. We believe there are other better ways to further attract retail capital to Arbitrum than directly making investments in these volatile tokens. Further, given the current restrictions that the fund must hold the tokens for 3 months, this presents huge risks of taking losses investments. We believe delegates and Arbitrum stakeholders should focus on more robust systems to attract retail capital and activity.
This is most def an interesting proposal and personally love memecoins! As a true contrarian I think memecoins are a great onboarding tool and can help Arbitrum significantly! Would also like to help out fill any gaps of this proposal. Imo I think this should be a "Decentralized Memecoin fund"
I want a strong meme economy as part of Arbitrum's robust defi ecosystem (and hopefully gaming soon :slight_smile: ).
But I share the same concerns as you.
Memes come as a result of a strong degenerate community. You can't force memes, and I think it's better to let memes come naturally vs trying to stand up funding for an ecosystem that doesn't really have a playbook for success outside of vibes.
This proposal was born from a public discussion on Twitter on the state of arbitrum and how memes are perceived (are? are not?) as an important growth driver factor in an ecosystem.
For one, @0xkawz decided not only to discuss the matter on twitter but also to put it in the forum. This gesture, regardless the merit of the topic, is highly appreciated and should be rewarded with a broader discussion. I'll try to give a detailed feedback on the proposal, and how it could be tweaked. And then, my personal opinion on the value of it.
This proposal was born from a public discussion on Twitter on the state of arbitrum and how memes are perceived (are? are not?) as an important growth driver factor in an ecosystem.
For one, @0xkawz decided not only to discuss the matter on twitter but also to put it in the forum. This gesture, regardless the merit of the topic, is highly appreciated and should be rewarded with a broader discussion. I'll try to give a detailed feedback on the proposal, and how it could be tweaked. And then, my personal opinion on the value of it.
"adequately" --> needs definition as well.
Think this needs a technical reworking, due to potential unavailability of twap (remember all of this is executed through a safe, and trading through a safe is a REAL pain), but above all the front running. Do we have any details on how this is executed by Avax?
I see this as a possible viable path to further support a coin. I see the council deciding it could be worth to add this liquidity, but some sort of high level decision criterias to decide if this has to be executed would be needed. Again, at high level, especially because it also involves selling also some funds to buy eth. There is also a merit on talking where the liquidity should go, my wild guess is in the biggest pool of that very coin, to avoid any COI regarding favouring this or that exchange.
At the end of the three month mark, collaborators can deliberate on A) unwinding assets or B) continuing for another three months.
Feels like 10 graphic designers might just be an overshoot, and I am not sure about that part of the compensation, especially because that role is not properly defined. While, tho, the overall idea is that when a coin is selected by the fund, it would then have the support from a marketing standpoint with the work of that graph designer. But how are these graphics, memes, video, delivered to the community? Through the official account of the coin in question? Likely the arbitrum official account, while available to highlight specific things of this proposal, won't likely be used for a constant active support. So how are the deliverables produced here leveraged? Also, does it make more sense to have instead of 10 graphics, just 5 with an higher comp? Maybe not because with 10 we can ensure a broad availability of styles?
Now, all of this was about the formality of the proposal. Let's talk about the merit.
I am not sure if this will work, and if it will work in general. I definitely see the problem we have in arbitrum: a "boring" chain, a "professional" chain, defi oriented. And this identity has indeed expressed through the lack of meme, I agree with this. I am not sure if we can effectively change this through a fund. Basically the hope here is: if the fund is up, people will flock to arbi to create meme with the hope their coin will be picked up by the fund and so among the hundreds created one is gonna be THE meme of arbitrum. To me, this is a bit of a shoot in the dark to be honest. There could be a merit in pushing in arbitrum for marketing and comnmunity strategies and investments that could indirectly spark the same type of interest. My personal view of course and I might be wrong. But I tend to lean toward the ones who said that a good meme should happen organically, and forcing it might not work. We have already been seeing the shill festival this proposal has become in the span of a couple of days, and i will be honest, this is really bad for optics. Yes, you want to show support for your community or certain communities, but this is not the way.
So @0xkawz let me know what you think about the above, and in general i would like to push anybody who wants to constructively contribute to this to post. Even if you think the initiative is not good or it won't pass, starting to at least acknowledging this part of the community, the fact that arbitrum so far has not been great at meme compared to other chains, is potentially already a +ve thing in my book.
So far all I see are organizations like yours saying “We think there are better ways” but not offering any solutions.
I'm sorry you feel like this about the DAO's initiatives. Since you joined this forum one week ago, it's fair that you may not know what's going on. I'll take it as something that should be improved ASAP. I mean, getting people outside the forum to know what initiatives are being discussed and approved to attract retail capital and activity, as @PennBlockchain pointed out.
Top of my mind, I can share that we currently have:
So, many solutions are currently being discussed to foster Arbitrum's growth.
How do you think communication can be improved in order to let more people now or be aware about these initiatives?
I don’t support this proposal because I don’t see the benefit of attracting users who will only buy these memcoins. These users are of no use to Arbitrum. In addition, you can launch this memcoin without the participation of Arbitrum
The team at FranklinDAO/Penn Blockchain are generally opposed to Arbitrum allocating capital for the memecoin fund. We believe there are other better ways to further attract retail capital to Arbitrum than directly making investments in these volatile tokens. Further, given the current restrictions that the fund must hold the tokens for 3 months, this presents huge risks of taking losses investments. We believe delegates and Arbitrum stakeholders should focus on more robust systems to attract retail capital and activity.
This is most def an interesting proposal and personally love memecoins! As a true contrarian I think memecoins are a great onboarding tool and can help Arbitrum significantly! Would also like to help out fill any gaps of this proposal. Imo I think this should be a "Decentralized Memecoin fund"
I want a strong meme economy as part of Arbitrum's robust defi ecosystem (and hopefully gaming soon :slight_smile: ).
But I share the same concerns as you.
Memes come as a result of a strong degenerate community. You can't force memes, and I think it's better to let memes come naturally vs trying to stand up funding for an ecosystem that doesn't really have a playbook for success outside of vibes.
This proposal was born from a public discussion on Twitter on the state of arbitrum and how memes are perceived (are? are not?) as an important growth driver factor in an ecosystem.
For one, @0xkawz decided not only to discuss the matter on twitter but also to put it in the forum. This gesture, regardless the merit of the topic, is highly appreciated and should be rewarded with a broader discussion. I'll try to give a detailed feedback on the proposal, and how it could be tweaked. And then, my personal opinion on the value of it.
This proposal was born from a public discussion on Twitter on the state of arbitrum and how memes are perceived (are? are not?) as an important growth driver factor in an ecosystem.
For one, @0xkawz decided not only to discuss the matter on twitter but also to put it in the forum. This gesture, regardless the merit of the topic, is highly appreciated and should be rewarded with a broader discussion. I'll try to give a detailed feedback on the proposal, and how it could be tweaked. And then, my personal opinion on the value of it.
"adequately" --> needs definition as well.
Think this needs a technical reworking, due to potential unavailability of twap (remember all of this is executed through a safe, and trading through a safe is a REAL pain), but above all the front running. Do we have any details on how this is executed by Avax?
I see this as a possible viable path to further support a coin. I see the council deciding it could be worth to add this liquidity, but some sort of high level decision criterias to decide if this has to be executed would be needed. Again, at high level, especially because it also involves selling also some funds to buy eth. There is also a merit on talking where the liquidity should go, my wild guess is in the biggest pool of that very coin, to avoid any COI regarding favouring this or that exchange.
At the end of the three month mark, collaborators can deliberate on A) unwinding assets or B) continuing for another three months.
Feels like 10 graphic designers might just be an overshoot, and I am not sure about that part of the compensation, especially because that role is not properly defined. While, tho, the overall idea is that when a coin is selected by the fund, it would then have the support from a marketing standpoint with the work of that graph designer. But how are these graphics, memes, video, delivered to the community? Through the official account of the coin in question? Likely the arbitrum official account, while available to highlight specific things of this proposal, won't likely be used for a constant active support. So how are the deliverables produced here leveraged? Also, does it make more sense to have instead of 10 graphics, just 5 with an higher comp? Maybe not because with 10 we can ensure a broad availability of styles?
Now, all of this was about the formality of the proposal. Let's talk about the merit.
I am not sure if this will work, and if it will work in general. I definitely see the problem we have in arbitrum: a "boring" chain, a "professional" chain, defi oriented. And this identity has indeed expressed through the lack of meme, I agree with this. I am not sure if we can effectively change this through a fund. Basically the hope here is: if the fund is up, people will flock to arbi to create meme with the hope their coin will be picked up by the fund and so among the hundreds created one is gonna be THE meme of arbitrum. To me, this is a bit of a shoot in the dark to be honest. There could be a merit in pushing in arbitrum for marketing and comnmunity strategies and investments that could indirectly spark the same type of interest. My personal view of course and I might be wrong. But I tend to lean toward the ones who said that a good meme should happen organically, and forcing it might not work. We have already been seeing the shill festival this proposal has become in the span of a couple of days, and i will be honest, this is really bad for optics. Yes, you want to show support for your community or certain communities, but this is not the way.
So @0xkawz let me know what you think about the above, and in general i would like to push anybody who wants to constructively contribute to this to post. Even if you think the initiative is not good or it won't pass, starting to at least acknowledging this part of the community, the fact that arbitrum so far has not been great at meme compared to other chains, is potentially already a +ve thing in my book.
