Special thanks to @devinwalsh and the terrific team at the Uniswap Foundation for all their work driving the Uniswap ecosystem forward for the last year. We’re excited by the strategic vision they’ve outlined in this proposal. The specificity of the budgeting framework is particularly helpful as the Uniswap Foundation continues to grow and its role evolves. We at a16z crypto fully support their efforts and are appreciative of all they’ve done. As a result, we intend to support this proposal.
This proposal, in many ways, is an inflection point in the Uniswap Foundation’s journey. It represents a tangible commitment to the decentralized growth of Uniswap’s network, including by bringing the next wave of builders onboard and expanding the community.
Given the increased size of the Uniswap Foundation’s funding and budget in this proposal, it’s also important to consider the role of balanced oversight functions that foster appropriate systems and processes to protect the Uniswap community, the foundation, and contributors, in an effort to continue to professionalize web3 organizations. Certain of these oversight functions may be in the process of being implemented already, but where there are gaps, inspiration for filling them can come from many well-run and well-funded organizations, from traditional start-ups to NGOs to successful, established businesses.
So, at the time of this proposal, we want to identify the oversight functions that we believe the Uniswap Foundation can focus on during the period covered by the proposal. The Uniswap Foundation has the opportunity to establish a professional playbook for other web3 foundations to follow. If we can get this set-up right, it can be a model for the industry.
Here’s a few of the ideas that could help shape that model:
(1) Establishing a formal advisory board, or adding additional members to the current board, with traditional and web3 expertise in legal, financial, and technical matters, with an emphasis on experience in organizational governance.
(2) Publishing quarterly progress reports and annual audited financial statements.
(3) Hiring a General Counsel for the Uniswap Foundation and establishment of appropriate legal review processes for grants.
(4) Creating a formalized plan that outlines expectations, KPIs, and removal processes and conditions for UF leadership positions, and the subsequent need for a community vote regarding the remaining funding the UF would hold at the time of a change in UF leadership.
(5) Publishing a succession plan for UF leadership in the event of legal or ethical matters arising, or in the event members of the UF leadership leave prior to the fulfillment of this funding proposal.
This list isn’t intended to be exhaustive, but represents the main ways the UF can strengthen its organizational design. We look forward to hearing the community and UF’s feedback, and we’re excited for what’s in store ahead!
None of the above should be taken as investment advice or an advertisement for investment services; Some of the companies mentioned above are portfolio companies of a16z. Please see Disclosures | Andreessen Horowitz for more information.
A list of investments made by a16z is available at a16z Investments Listed From A to Z | a16z