There have been a lot of great comments made by fellow delegates. We appreciate everyone who has taken the time to review the proposal and provide feedback. Ultimately, this process will lead to the best outcome for the DAO.
Many of the points we intended to bring up have already been discussed, so rather than reiterating those points, we would like to offer a new view.
We believe it’s time to improve the governance of the Uniswap Foundation with their new funding request. The foundation has raised about $60M in funding from the DAO to date, and once the two new funding requests are approved, they will eclipse $200M.
As it currently stands, the Uniswap Foundation has an advisory board established in the first funding proposal, and the legal board of the Uniswap Foundation has two seats (according to publicly available filings), one filled by Devin and the other filled by Ken.
As the foundation scales its footprint and the DAO scales its investment in the foundation, it would be fitting for the DAO to have a more direct role overseeing the UNI invested in the foundation.
We propose the DAO elect five individuals to the board: a DeFi legal expert, a growth/marketing expert, someone with a track record for building high-impact organizations, and two Uniswap delegates. The board would have a total of five seats.
If delegates are receptive to this idea, we are happy to create a new forum thread to discuss the process of nominating board members and holding elections in parallel with the foundation’s proposal.
Lastly, GFX Labs feels strongly that this maturing is necessary to approve the funding request. As such, we will withhold our support of the dual requests until it has been indicated that the foundation and delegates support improving the foundation’s governance.
EDIT: We have had a few folks message us to voice why updating the advisory board would not be sufficient. We agree. We are proposing changes to the Uniswap Foundation’s legal board.