I didn’t vote in the recent snapshot, but if this moves forward to consensus check I will plan to vote against (based on proposal as it currently stands).
My issues with current proposal:
- Hermes defi has multiple native tokens, I consider this a red flag as almost all multitoken projects have been forced to merge them eventually, and sometimes holders of one class of tokens get a worse deal (see ANT/ANJ, MCO/CRO, etc)
- Uniswap has little governance protections or assurances, Hermes uses snapshot (presumably with a multisig for execution) so we’re just trusting the team to follow through on any promises
- The allocation offered seems far too low, with Uniswap v3 use grant likely representing a majority of protocol value if the deal goes through. See price chart for indication of this:
I’m skeptical of franchising v3 being a good strategy for the immediate future. I’d prefer to see Uniswap pursue the highest value L2s/L1s with a direct launch that preserves Uniswap’s autonomy and branding and lets us own the user relationship.