L2BEAT Delegate Platform

[Sinkas]

Delegate Name: L2BEAT

Delegate Address: delegate.l2beat.eth

Forum Handle(s): @Kaereste and @Sinkas

Alternate Means Of Contact (Twitter, Discord, Email, etc):

Krzysztof’s Telegram or Sinkas’s Telegram

About:

L2BEAT is an independent, public goods company who acts as an impartial watchdog for the Ethereum Layer2 ecosystem. Our mission is to provide comprehensive and unbiased analysis and comparative evaluations of Layer 2 solutions. We are committed to the verification and fact-checking of the claims made by each project, with a special focus on the security aspects. What sets L2BEAT apart is our unwavering commitment to delivering accurate and reliable information.

In addition, L2BEAT has a governance team which actively participates in constructive discussions of specific protocol challenges and issues, fostering the discourse toward increasingly permissionless, open source, and trustless systems. Our participation in various DAOs and public debates reflects this commitment.

Experience

We consider ourselves experts on blockchain scaling solutions. We have a deep technical understanding of underlying protocols and a broad overview of available solutions. We’ve spent hours understanding the code, documentation and on-chain data of every project listed on our website.

In terms of DAO-relevant work, we served on several grant committees and helped organise the work of the DAOs we’re involved with.

Delegate Platform or Philosophy

For us, governance isn’t just about casting a vote. The real magic happens during healthy debates and coming to conclusions together. Voting should just be the cherry on top of a great community-driven process.

When participating in governance, we hold the following principles in mind:

• Transparency & Open Communication: We believe in being open about our decision-making process and keeping the community informed about any proposals or issues we discuss.
• Community Focus: Our top priority is to always consider the community’s needs and interests in every decision we make.
• Inclusiveness: We’re committed to fostering a diverse and inclusive environment, where everyone’s voice is heard, regardless of their background or experience.
• Accountability: We value accountability and are always open to feedback, which helps us continually improve and better serve our community.

At L2BEAT we believe that crypto is the new infrastructure for the future financial system. As such, we believe that in order for it to be successful, it needs to be:

• Permissionless, no one should need a third party’s permission to join the network,
• Censorship resistant, everyone should be free from arbitrary censorship,
• Trustless, it’s all about cryptographic proofs and consensus, not trusting a central party
• Decentralised, power and control should be spread across many participants
• Transparent, everyone should be able to verify and account for transactions, even if they’re private
• Secure and safe, user safety and security come first, not relying on anyone acting honestly.
• Open-source, we live by “don’t trust, verify,” so if we can’t see the code, we can’t trust it.

Conflicts of Interest

It’s not necessary COI but it’s worth mentioning that we are active delegates in other ecosystems, with more coming in the near future. We also have a working relationship with almost every major Ethereum L2 project and with most bridge projects.

Policy for Handling Conflicts of Interest When They Arise

Should any conflict of interest arise, we will publicly disclose it, and recuse ourselves from participating in the relevant vote (if any).

[Manugotsuka]

[Vote] WIP-1: Ratification of Code of Conduct for Wormhole Governance - Voted FOR.

After reviewing all the aspects of the code of conduct, we believe it is solid overall, and all the points mentioned are valid. However, due to our experience in other DAOs, other points, such as Conflict of Interest Disclosures or KYC/KYB Compliance standards, could also be considered to add.
In our view, this document is a strong first step, and it will serve the DAO well so long as we treat it as a starting point for a more detailed version of the Code of Conduct in the future.

[Vote] WIP-2: Ratification of Wormhole Governance Proposal Process - Voted FOR.

The draft governance proposal life cycle is solid—clear roles, sensible quorums, and a straightforward off-chain flow that should keep proposals moving without bogging builders down.

That said, we’re puzzled by the decision to bundle this vote with the Code-of-Conduct proposal on such a tight schedule. The process itself calls for a five-day discussion window, yet both items will head to Snapshot after only four, and the temperature-check phase is just three days. A single extra week would allow more delegates to give more feedback and raise questions that can lead to an improved version of this approach.

None of those concerns changes our stance. The DAO needs a formal process; this draft will do the job. We simply hope the team gives the community a bit more breathing room before the vote, setting a precedent for thorough debate in the future.

[Manugotsuka]

[Snapshot] WIP-3: Establishment of a Grants Program - Voted FOR

A capped $ 250,000 grant program, with a split between delegates approving and the Wormhole Foundation handling KYC and payouts, provides the ecosystem with a clear first step for supporting future initiatives that bring value to the Wormhole ecosystem.

Having said that, we think that it will be nice to clarify who is going to be responsible for the progress tracking of each “approved initiative”, from our experience, relying on delegates’ follow-up can be slower than a small, dedicated grants team.

[Manugotsuka]

[Tally] WIP-3: Establishment of a Grants Program - Voted FOR

We’ve decided to extend our support to this initiative during this on-chain stage, as the proposal hasn’t undergone any changes that would make us change our position about it. As we mentioned in our previous comment, we view this as a clear first step that can bring value to the Wormhole ecosystem in the future.