After thoughtful consideration and conversations with many different community members, here’s how we at Dune imagine a community analytics program for Uniswap.
We are sharing this here with the intention to kickstart a broad community discussion on this subject and would love this to become a collaborative community effort where Dune is just one of many contributors.
The goal is to establish a neutral, effective and sustainable way for the Uniswap community to crowd-source the information it needs, as well as engage and onboard new community members.
Quality insights and analysis are a growing need for DAOs. Properly executed, the program we outline here should provide a steady stream of relevant data and information to be used at the community discretion and accessible to anyone.
Introduction to the program
Having effectiveness and sustainability in mind we’ve made our best effort to come up with a system that is both simple and straightforward but also provides the necessary structure and oversight.
The program consists of:
A bi-weekly recurring bounty competition as the main mechanism to crowd-source data and analysis.
A neutral committee with executive power over the bounty competition including capital deployment for grants/bounties.
The main oversight mechanism is a yearly community vote to either revoke the program, make changes to its structure, or continue funding it.
Committee composition and duties
We propose forming an executive committee, which will be responsible for:
- Setting up and running the bounty competition (program execution).
- Gathering analytics needs and requirements from the community.
- Funds custody and deployment (using a multi-sig).
In order to speed up execution we are proposing a committee no larger than 3 or 5 community members. Who these members should be is open for discussion and should be proposed based on community feedback. These members should ideally be unbiased members of the community with no affiliation towards data providers.
Running the program will be a time-consuming task that will require significant commitment by at least one of the committee members. For that reason, we are proposing a monthly stipend of $2,500 per committee member that commits more than 20h/week but again, we’d appreciate community feedback on this issue too.
The bounty competition
We imagine the core of the program being run roughly like this:
On a bi-weekly basis, committee members meet and
- Discuss Uniswap’s community analytics needs
- Post requirements for new bounties based on these needs
- Review past submissions and decide which ones deserve to be granted the prizes
Committee members have executive power to decide which tools and interfaces to use to manage the program, how many bounties should be posted each time and how much to pay for each bounty.
Which tool each participant uses to do the actual work is up to them.
The only requirement is for the analysis to meet the criteria and be publicly available to the UNI community.
Funding mechanism & oversight
We believe that the funding mechanism should be simple and straightforward. Upon approval of this proposal, the Uniswap DAO will transfer the funds from its treasury to a dedicated multi-sig wallet controlled by the executive committee.
Once a year, Uniswap token holders and delegates get to vote whether or not to continue with the program or if changes should be made, thus providing the necessary oversight.
The committee can choose not to deploy the entirety of the funds. In that case, funds that have not been spent or deployed during that time period should return to Uniswap DAO’s treasury before the yearly vote takes place.
For the first year, we are proposing a budget of $1M for bounties which, as a reference, would allow for 200 submissions earning $5000 each. Committee member’s salary should be added to this and treated separately.
We don’t think it’s possible to know at this point if 200 submissions are too many or too few but it’s important to remember that the committee would have the right not to spend all the funds.
On the other hand, we think $5000 is a good reference/anchor point to have for bounties given that committee members could also decide to adjust accordingly. Also, creators/analysts deserve to be fairly compensated for their work so bigger bounties concentrated in a couple of submissions are more likely to attract the best analysts and yield the best results.
All in all, while the exact amounts can be discussed we think this would be a relatively low risk for Uniswap DAO, while heavily incentivising great analytics dashboard creation.
We believe that analytics are key for the ecosystem to continue to grow and flourish as they provide the necessary context and understanding for what is going on and we are doing our best to come up with a program that is both fair and effective.
We are ready to shape this proposal together with the community’s feedback and bring it forward.
Looking forward to reading your thoughts. The data must flow.