Deploy Uniswap V3 on Harmony through an Additional Use Grant to Hermes DeFi

Requests for Comment
21

Yes, grant Hermes DeFi an Additional Use Grant License.

22

Would love to discuss this in more detail with you. Please reach out on Discord/Twitter so we can have a more engaging conversation.

1 Like
23

I didnā€™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 weā€™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:
    image
    image1620Ɨ728 40.4 KB

Iā€™m skeptical of franchising v3 being a good strategy for the immediate future. Iā€™d prefer to see Uniswap pursue the highest value L2s/L1s with a direct launch that preserves Uniswapā€™s autonomy and branding and lets us own the user relationship.

5 Likes
24

Well said. Avantgarde will also plan to vote against. In framing how we evaluate license grant applications, I think thereā€™s a stark difference between projects that are using the protected code in novel ways and simply franchising the protocolā€™s functionality in an undifferentiated way across many venues.

25

Direct launch makes sense. True to what Uniswap represents