[Replace Oversight Committee with MSS] Delegate to Voter Enfranchisement Pool — Event Horizon

After further discussion with the Foundation and the MSS Committee, we have secured MSS support for the Voter Enfranchisement Pool Proposal.

The MSS will replace the Oversight Committee entirely for all related capacities and responsibilities. The MSS will…

1. custody the 7M ARB and delegate the voting power to the community voting pool.
2. maintain the ability to push the community pool into an ‘abstain’ position
3. maintain the ability to undelegate and return the 7M ARB to the treasury upon the request of the Arbitrum DAO which can be conducted via a Snapshot vote.

To make this improvement possible, the current Oversight Committee and Event Horizon are committed to, and will carry out, the following the closure of the current state proposal:

1. The OC will transfer 7M ARB to the MSS custody wallet
2. The OC will transfer the 200K direct grant to Event Horizon
3. The OC will return the 125K ARB initially allocated for OC member compensation back to the Arbitrum DAO Treasury