GFX Labs - Delegate Communication Thread

This thread is intended to provide a record of GFX Labs’ voting and communication around the reasoning of each vote. Subsequent voting communications will be added to this thread over time.

April Proposals

Temp Check - Onboard Uniswap to Sei
Summary: Blockchain Michigan proposed that Sei receive the Uniswap Onboarding Package.

Recommendation: For Incentivize $500K. GFX Labs is always in favor of additional Uniswap deployments. We believe that Sei is a good opportunity for Uniswap to secure an early key position after their launch of Sei v2.

Temp Check - Update Uni v3/v2 Deployment Process (March 2024)
Summary: This proposal contains a series of operational improvements for new v2 and v3 deployments. This proposal would transfer the ability to add new records to v2deployments and v3deployments ENS records to the UAC.

Recommendation: Vote Update Process. The DAO has been operating on an outdated system. This proposal contains logical reforms that should streamline new deployments post-BSL.

Update Uni v3/v2 Deployment Process (March 2024)
Summary: This proposal contains a series of operational improvements for new v2 and v3 deployments. This proposal would transfer the ability to add new records to v2deployments and v3deployments ENS records to the UAC.

Recommendation: Vote For. The DAO has been operating on an outdated system. This proposal contains logical reforms that should streamline new deployments post-BSL.

Temp Check - Uniswap Onboarding Package - Manta
Summary: This proposal adds Manta Pacific to the v3 deployments record and grants Manta an Onboarding Package, which includes $250k of UNI incentives for three months on four key markets and Angle Merkl’s integration of Manta. Separate from this proposal, Manta has arranged for Oku to support Manta, and the contracts have been deployed.

Recommendation: Vote For. GFX Labs authored the proposal. Read the proposal for full reasoning.

Onboarding Package Bundle
Summary: GFX Labs authored the proposal. The proposal bundles four proposals that have previously been approved in individual temperature checks. While we typically like to avoid bundling proposals, we consulted with the Accountability Committee (AC) and other members of the DAO prior to posting the proposal to weigh the operational headache of getting four delegates to make proposals. In the future, the organization could consider upgrading our governance contract to make it easier to run multiple governance proposals. Please read the proposal for the full context.

Recommendation: Vote For. For the reasons stated in the proposal and related temperature checks, GFX Labs is voting in favor of this proposal.

Temp Check - Uniswap Treasury Working Group (UTWG) Election
Summary: This election would fill two seats on the UTWG.

Recommendation: 20% for Franklin DAO, 20% for Steakhouse Financial Limited, 20% for Nathan van der Heyden, 20% for 404 DAO, 20% for karpatkey.

Mobilizing the Uniswap Treasury
Summary: StableLab proposed the UTWG receive its initial funding of 6,000 UNI. The proposal is co-authored by Arana.

Recommendation Vote For. We support the DAO’s exploration of new ways to manage its treasury and are particularly interested in how it might handle protocol-owned liquidity. After deploying UNI incentives to several new EVM chains, it would be great if the DAO could begin allocating ETH-stablecoin and stable-stable LP to chains.

Temp Check - DeFi Education Fund
Summary: GFX Labs sponsored DEF’s proposal, which requested 1M UNI. 500K was transferred to the DEF’s Coinbase account, and the other 500K will be streamed to the DEF over 12 months. DEF’s founding grant came in July 2021. They have two years of operations currently, but for them to fight larger and longer battles, they need additional funding.

Recommendation: Vote For. The DEF has proven to be a great investment for the DAO and the ecosystem. While the initial grant carried added risk because it was a new program and untested, we now have evidence for their quality of work and value.

Temp Check - DeFi Education Fund Options
Summary: Stable introduced a poll to amend the amount of funds requested by the DEF. If the primary Temp Check were to fail the quorum, then this poll’s result would be applied to the onchain proposal.

Recommendation: Vote Abstain. Since GFX Labs favored the original proposal, we decided to abstain from voting in the poll.

May Proposals

Temp Check - Uniswap Delegate Reward 3 Months Cycle 1
Summary: StableLab introduced the DAO’s first Delegate compensation program. The program will run for three months. Qualifying delegates will receive compensation based on some basic metrics.

Recommendation: Vote For. GFX Labs is in favor of being a delegate compensation program. Delegate compensation is a key issue in attracting and retaining high-quality delegates. While this program is imperfect in many ways, we will not let perfection prevent progress. Instead, we invite (and have done so proactively) other organizations and delegates to propose improved programs. Ideally, the DAO can select a new and improved program each cycle.

Temp Check - Onboard Uniswap to Redstone
Summary: Redstone is requesting to become an official Uniswap deployment and an Onboarding Package. Due to Redstone’s limited TVL and market position, it does not merit an Onboarding Package at this time. We would be happy to reevaluate down the line.

Recommendation: Deploy without incentives. As always, we are in favor of new Uniswap deployments for any chain that follows the process and passes ownership back to the DAO.

DeFi Education Fund
Summary: GFX Labs sponsored DEF’s proposal, which requested 1M UNI. 500K was transferred to the DEF’s Coinbase account, and the other 500K will be streamed to the DEF over 12 months. DEF’s founding grant came in July 2021. They have two years of operations currently, but for them to fight larger and longer battles, they need additional funding.

Recommendation: Vote For. The DEF has proven to be a great investment for the DAO and the ecosystem. While the initial grant carried added risk because it was a new program and untested, we now have evidence for their quality of work and value.

June Proposals

Temp Check - Uniswap Arbitrum LTIPP Matching
Summary: The UADP secured 1M ARB from Arbitrum’s LTIPP program. In their application to Arbitrum DAO, the UADP stated that they would request a matching of funds from Uniswap. Gauntlet will manage the rewarded funds via Merkl’s platform.

Recommendation: Vote (1st) $250k, (2nd) Do Not Fund, (3rd) $500k, (4th) $750k, (5th) $1m. Uniswap has a strong position in Arbitrum. A modest matching of funds with the LTIPP seems appropriate, but we discourage significant investment in Arbitrum over other opportunities.

Uniswap Arbitrum LTIPP Matching
Summary: The UADP secured 1M ARB from Arbitrum’s LTIPP program. In their application to Arbitrum DAO, the UADP stated that they would request a matching of funds from Uniswap. Gauntlet will manage the rewarded funds via Merkl’s platform. The prior temperature check resulted in $750K, which is requested in this onchain proposal.

Recommendation: Vote For. While the amount is more than we had ideally considered, it is within reason. However, we will be unlikely to vote in favor of further UNI allocated to Arbitrum unless there is clear evidence of Uniswap losing meaningful market share and a clear plan for the UNI to combat that issue.

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