December Voting Update
[TEMP CHECK] Uniswap DAO Principles
Vote: For
Type: Snapshot
Generally agreed principles selected by the DAO are important for setting social standards and overall decorum among governance stakeholders. These should be continually revisited and adjusted to accommodate for changes in the DAO’s landscape—but the current points seem to be quite ubiquitous regardless of changes to the ecosystem or DAO. It’s important to note that most aspects continued in the proposal are hard to enforce. That’s why the focus of these principles will likely be for participation in DAO initiatives. These principles will determine whether or not including particular groups and individuals into delegate reward and treasury-based delegation programs, along with elections for working groups, is a wise choice. Those who violate DAO-set rules would be less likely to participate in these. At the end of the day, the outcome here is not to pursue legal action against violators, nor should that be the goal. Actors in a DAO should be able to act according to their will, but a lack of decorum may come at a social cost.
[Temp Check] - Adopt The SEAL Safe Harbor Agreement
Vote: For
Type: Snapshot
Although the Uniswap v3 contracts have been audited multiple times, battle tested over the past couple of years, it’s prudent to keep security top of mind. The tricky aspect is the numerous deployments that now exist. There are over 25 official deployments, and therefore, over 25 v3 factory contracts to be aware of—which of course includes the associated periphery addresses and factory owners. This leads to increased attack surface area. Having a system to incentivize whitehats to ensure safe recovery of potentially compromised funds related to these contracts and/or identify the nature of malicious attacks is important.
[TEMP CHECK] Scale Uniswap Liquidity on Celo
Vote: For
Type: Snapshot
Celo was one of the first v3 instances. Due to a first mover advantage, Uniswap has attained a solid lead ahead of competing DEXs in terms of market share. The commitments that Stabila and Celo have made over the past year are significant. We are voting in favor of this proposal as it further deepens our relationship with Celo as they make their transition to an OP L2. Their team has signaled interest in furthering their incentive program over the coming year, and in order to support their commitment, allocating the DAO’s funds to magnifying the campaign seems prudent. Much of this is about sustaining our market lead so that Celo does not begin incentivizing competitors.
[TEMP CHECK] Metal L2: Bridging TradFi and DeFi Through Uniswap V3
Vote: Abstain
Type: Snapshot
We abstained on this proposal because we believe that an avenue for a potential collaboration should be left open with Metal, but in the current state of the chain, it is not yet ready to receive the $250k allocation. Sure, the expense ratio currently is about 2:1 ($520k:$250k), but we’d like to see more traction from Metal before the DAO commits funds to its growth. Metal has also conducted deals with Velodrome and Ionic, but from our understanding, those proposals have not committed capital to Metal.
Discretionary Budget from UAC for Co-Incentive Campaigns
Vote: Allow UAC Surplus
Type: Snapshot
There are various instances where deals need to be conducted with target chains and other partners. Many times when negotiations are taken through a 4+ week DAO process, the negotiating terms are less favorable as the speed for execution is lackluster and partners are publicly disclosing potential deals that would not bring favorability with other partners. In traditional businesses, most of these deals are done behind closed doors. This setup would effectively make the negotiation and deal execution part more private—but prioritize transparency in a retrospective manner. We are therefore voting For this.
Incentive Package for Sonic (Formerly Fantom)
Vote: 250k incentive match
Type: Snapshot
We voted in favor of the 250k 2:1 match. Out of all the features, the fee sharing mechanism (FeeM), where 90% of the fees generated by apps are shared back to that app, creates the most interesting avenue for a partnership between Sonic and Uni DAO. A revenue model for Uni DAO would be established as a result of this deployment. This would be the first instance that the DAO would be making operating income. Furthering our relationship with ecosystems that have such symbiotic mechanisms is important. The Sonic ecosystem has also seen active community engagement through various airdrop programs, such as the Sonic Points and Sonic Gems initiatives, which reward both users and developers. We are in talks with the Merkl team regarding how Uniswap DAO can take advantage of these incentives. Marketing will be important for this, along with a potential match of capital from the DAO.