Uniswap Delegate Reward Initiative - Cycle 2 - Onchain
Summary: This proposal will fund an additional three months of the delegate compensation program and expand the number of delegate positions to 16.
Recommendation: For. While we voted in favor of a second cycle of this program, GFX will be hesitant to support this program for a third cycle unless we see reforms. We initially voted for the first cycle, admitting it was a far from perfect program, but in light of no other real options, we decided it was better than nothing. However, this sort of thinking can’t go on forever.
During the early voting process of cycle one, we tried to bring in the folks at Gov Score and Karma to develop a more robust program. We have since suggested our own reform for cycle 3, and we’re keen for the DAO to adopt our suggestion or others.
High-quality delegate participation is critical to the success of the DAO. We should strive to improve this program with each new cycle to drive the outcomes we all want to see in Uniswap.
Proposal to active 2, 3, 4 bps fee-tiers on Base - Onchain
Summary: Add additional fee tiers to combat Aerodrome’s recent rise with their 4bp fee tier.
Recommendation: Abstain. We voted to abstain in the temperature check and will vote to abstain here as well. Most of our reasons are available on the forum. To summarize, we don’t believe this initiative will be successful in gaining back our lost market share from Aerodrome because we’re competing against their token incentives. We’re not voting against the proposal because we don’t believe it can harm the protocol, but we also don’t think there is much upside in the action either, so we’re not voting for it. If the DAO wants to improve LP flexibility, then we should focus on the GTM of v4.
UAC Renewal S3 - Onchain
Summary: The UAC is seeking funding for its third season.
Recommendation: Renew UAC. GFX Labs has had the pleasure of working closely with the UAC over the last year while we have been expanding Uniswap v3 to new chains. The committee demonstrated a strong commitment to the protocol, its roles in the committee, and its partners. We are pleased to see the UAC continue to take on more responsibility and effectively operate.
Forse Analytics for Uniswap Revitalization and Growth Program
Summary: This proposal seeks to onboard Forse by StableLab as a data service provider, helping analyze the effectiveness of the Uniswap Revitalization and Growth Program.
Recommendation: Abstain. We’ve updated our position from Against to Abstain after StableLab reduced their requested fee from $70K to $60k. We don’t believe the analysis would yield enough value to support the proposal, but we also felt that if other delegates felt it would we would not oppose it.
For more context, the goal of the Uniswap Revitalization and Growth program is for Uniswap to establish a position in new chains such that if the chain ends up growing significantly, Uniswap can grow with the chain rather than trying to join later and face an uphill battle. The incentives are meant to help Uniswap establish itself at the chain during the initial launch and then end with no plan to bring it back. The hope is that two or three chains that get these incentives grow to become massive chains, and then we’ll have a great market position. Most of them aren’t going to be worth putting additional incentives on. In some instances, the UAC didn’t distribute all the funds allocated by the DAO because it would have been far too wasteful to do so in their mind. Generally, we learn the most about a new blockchain’s potential success in those few months while working with them on the new deployment, marketing, and other post-launch efforts. GFX would be happy to play an active role in the event a chain requests additional funding. However, we don’t foresee that occurring at this time.
Uniswap Accountability Committee S3 Elections
Summary: 10 individuals are running for election on the UAC. The top two will join the committee.
Recommendation: The candidates for this election were by far the strongest we have ever seen. We believe all the candidates would do a fine job if elected, but we focused our attention on candidates who have been participating in the DAO and have a vested interest in seeing it succeed. Going into the last 24 hrs, we thought supporting one of the lesser-known but rising individuals in the Uniswap ecosystem would be beneficial. This made it a difficult decision, but ultimately, we selected Jay Yu from Standford. Jay was kind enough to answer a few last-minute questions that helped us decide.
[TEMP CHECK] - Onboarding Package for Lisk
Summary: The proposal requests that Uniswap put up $375K in UNI and cover Merkl costs, and Lisk will put up $250K in LSK and $1M in liquidity. Separately, Lisk has arranged for Oku to support the deployment, and it is currently live on Oku.
Recommendation: For. Lisk’s proposal sets a new precedent that we think is very healthy and deepens the relationship between the two organizations. We will encourage more chains to include incentives and liquidity in their package requests.