Set up a Sub-Committee for the Security Services Subsidy Fund

This proposal intends to set up the Security Services Subsidy Fund (‘SSSF’) Sub-committee, seeking 60,000 ARB to fund the members of the SSSF Sub-committee over 1 cohort spanning 8 weeks.

Constitutional / Non-Constitutional - Non-Constitutional

Abstract - The creation of a specialised sub-committee to administer the Subsidy Fund for Security Services.

Steps to Implement - Snapshot Vote to signal approval of the process, followed by the initiation of the election process in conjunction with the on-chain vote for the sub-committee.

Timeline - Snapshot Date: 20th May 2024

Overall Cost - 60,000ARB

Executive Summary & TLDR

This proposal intends to set up the Security Services Subsidy Fund (‘SSSF’) Sub-committee, seeking 60,000 ARB to fund the members of the SSSF Sub-committee over 1 cohort spanning 8 weeks. This will ensure that each of the 5 members to be elected will be paid 100 ARB per hour, capped at 15 hours per week. This is in line with the compensation structures of recently approved committees within Arbitrum DAO with similar workloads (e.g., LTIPP). Additionally, the SSSF Sub-committee will be tasked with administering $2.5 million worth of ARB and selecting the security service providers most deserving of a subsidy fund based on the Means Test outlined in the Subsidy Fund Proposal.

TL;DR

Proposal Overview:

• Establish the Security Services Subsidy Fund (SSSF) Sub-committee with 5 elected members.
• Members will be compensated 100 ARB per hour, up to 15 hours per week, for 8 weeks.

Funding and Structure:

• The SSSF Sub-committee will manage $2.5 million in ARB to subsidize security service providers.
• Members are elected through a Snapshot voting process using a weighted voting system.

Operational Details:

• The Sub-committee will use the Means Test from the Subsidy Fund Proposal to select deserving security service providers.
• The Sub-committee aims to maintain transparency and efficiency in the allocation of the subsidy fund.

Member Criteria and Selection:

• Candidates should possess expertise in security, legal, procurement, operational management, and financial management.
• They are expected to have strong communication skills, technical knowledge, and a track record of ethical conduct.

Election and Onboarding Process:

• Election involves a 7-day application period and a 7-day voting period, followed by KYB/KYC checks and a 3-week onboarding period.
• The total process from election to subsidy disbursement adds approximately 6 weeks to the initial timeline.

Application and Review Process.

• A two-week submission period followed by a 6-week review period using the Means Test to evaluate applications.
• Initial screening based on key sub-criteria like funding gap rationale and KPIs.

Reporting and Accountability:

• The Sub-committee will provide monthly updates on project progress and fund utilization.
• Outcome metrics include the percentage of projects successfully deployed on Arbitrum and achievements of outlined KPIs.

Budget and Allocation Constraints:

• The maximum subsidy for any single project is capped at 10% of the total fund, or $250,000 in ARB.