The second proposal will be Dharma’s retroactive Uni distribution - Phase 1.
Initially, I was against this proposal:
- I’m generally against airdrops as I view them as an inefficient way to spend resources
- UNI holders don’t benefit from the airdrop
- some bad actor signaling happened during the first proposal: no announcement + a rider that lowers the quorum to the ‘convenient’ number.
But when it comes to the essence of the Phase 1 proposal, it suggests rewarding past users of Uniswap that used application integrations on top of Uniswap, mainly MEW, Argent, and Dharma.
I do consider these users as Uniswap users.
All Uniswap users before 1st Sep 2020 received an airdrop of 400 UNI.
I think it makes sense to reward past users evenly. And I think it’s a small price to pay (5m UNI) to achieve a slightly fairer initial distribution.
Also, it does decentralize the supply distribution a little, which is a good thing at these early stages - not distributing anything would create a honeypot.
So I will vote Yes to the Phase 1 Proposal.
I do not benefit from it, I will not receive an airdrop.
As a matter of fact, I’ll be slightly worse off as it dilutes UNI’s value a little bit - but so will any other distribution, so we probably should be ok with that.
I think it is the right thing to do. And it aligns with the statements I made in my delegation pitch: this proposal does have a positive effect on community building, albeit it is somewhat sprayed.
However, I do not consider people who used Dex aggregators (mainly Kyber, 0x, and 1inch) as Uniswap users, so I will vote against the Phase 2 Proposal.
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P.S. As my modus operandi part of the pitch is not realizable within the current system, I encourage you to view this topic more as a voting blog.
Self-delegating is currently a better option.
Delegating to me would mean that you’d have to trust my judgment calls, as you can’t revoke your votes once the voting has started.