March Voting Update
Uniswap Unleashed and Liquidity Incentives
We have decided to vote in favor of both the main Uniswap Unleashed proposal (grants and operations) as well as the Liquidity Incentives one. These proposals had us thinking a lot about our role as a delegate, the relationship between the DAO, UF, and core contributors, and our vision for Uniswap/crypto as a whole. While we understand that the budget is a big ask, we don’t necessarily believe that cutting/editing funding for specific line items or for initiatives like Unichain which aren’t controlled by the DAO is the way to move forward. After all, we vote to
which means not only prioritizing the DAO treasury, but also supporting any tangential element that could provide value to Uniswap users. In evaluating this proposal I prioritized a few main points which I thought were key in determining the future success of the protocol:
- Regulatory Environment (DUNA)
- Core Contributors/New Hires
- Treasury Management
Regulatory Environment
A proposal to create a DUNA for the DAO is essential for the success of this proposal because it determines what kinds of economic activities the DAO can participate in, as well as allows several key points of this proposal to be possible. These include many points in Priority 3 and the delegates’ relationship with core contributors. Because of this, we see that the DUNA is the most probable outcome, and if not, an alternate plan to complete these line items needs to be drafted.
Core Contributors/New HIres
We agree with the vision behind onboarding new core contributors, especially in a way where they can work in collaboration with delegates. We had some initial concerns about alignment among core contributors, the DAO, and new UF team members regarding scope of work and incentives, but feel confident after talking with the UF team, and that the details of such contracts will be hashed out in future proposals. Furthermore, expanding the UF team means that they will be taking on more defined roles (a lot of which are responsible for the initiatives layed out in priorities 1-4) and filling these roles effectively should be a top priority to make sure the priorities can be executed on time.
Treasury Management
Historically, incentives and grants have been successful in driving liquidity and development to Uniswap. While we do think grants are great and support the initiatives outlined in the proposal, we think that as Uniswap evolves as a platform, mobilizing the treasury through investment is something that could be looked into, provided the new regulatory framework allows for it. This would need to be done in a way that supports the UNI token, and hopefully avoiding token equity in other companies (since we aim to improve the strength of our own protocol and token). The ethos of crypto for us has aligned with building public goods to attract users, which we know is going to be a viable strategy in generating protocol revenue. We think there should be continuous incentives even past the initial three month period, until we are confident that the organic demand for being on Unichain outweighs our net-gain from providing incentives.
- Mateo Membreno