There's a live vote in Arbitrum to elect 3 members for a council called OAT.

Each member gets 7.5K/m, and a potential 100K ARB yearly bonus.

Total compensation = $125,000/y

Candidates can BUY a 20M ARB vote right now in lobbyfi for $10,000 - effectively boosting their chances.

Of course, after elected, you need to put in the work (committee members have many responsibilities in the context of OpCo), so this is not a "trade" - but there's a huge edge ready to be purchased.

Also, with 180M ARB quorum in the last snapshot vote, 20M does not guarantee a win (top 3 get the position).

Votes are shielded, so you cannot speculate seconds away from this specific proposal ending. Still, many delegates communicate their vote in forums before the proposal closes (as I usually do in elections), so there's room for candidates to speculate.

Here's the list of people who nominated themselves, notably @lemiscate, @0xfrisson, @stonecoldpat0 (who has voided payment if elected), @ImperiumPaper

🔗 all candidates: https://forum.arbitrum.foundation/t/opco-oat-applications-nominations/28555

🔗 live proposal: https://v1.snapshot.box/#/arbitrumfoundation.eth/proposal/0xb422848b0f53f9077444b922d553618e331f9abe7539ae4566ff84364d0fbd3c

Curious mix and governance economic evolution. There have always been economic incentives behind chain and protocol governance (some more explicit than others), but here we have prioneers on governance direct and public "bribing"

lobbyfi has 20M ARB to vote because a whale (0xed40cde6689389b9d4ab7dd11054c57f1050d55a) delegated it to them (lobby's wallet - 0x7a45ee0be5c4bdc938a5f00a2aef393f46502d26), and it's getting ARB yield this way. Lobby takes a cut. And bribers get the votes.

Interesting right?

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