December Voting Updates
[TEMP CHECK] Metal L2: Bridging TradFi and DeFi Through Uniswap V3
- While this presents an opportunity for Uniswap to expand via Metal L2’s integration with the Digital Banking Network, Metal Pay, and Metal Pay Connect—platforms aimed at bridging TradFi and DeFi—Michigan Blockchain has voted against the proposal. The primary reason is that the activity and TVL on Metal L2 are currently insufficient to justify the incentives. DAO funds should be allocated only if the network gains significant traction in the future.
[Temp Check] Scale Uniswap Liquidity on Celo
- Their idea of boosting liquidity through incentives is practical and makes a lot of sense: It’s got this unique goal of promoting financial inclusion and helping unbanked populations, so liquidity is needed for people to trade. Celo is a platform acting as a global payment infrastructure for cryptocurrencies that aims to target mobile users, so a high trading volume is expected on Celo. By focusing on mobile accessibility and using stablecoins like cUSD and cEUR, they’ve built something super user-friendly that works for people in regions where traditional banking either doesn’t work properly or doesn’t exist, for example there is the Kenyan currency (cKES) on Celo. LP incentives boosted trading volume on Uniswap and led to more than 500x growth in the past in volume. The 5000% growth is most likely not going to happen again, but Celo is unique in the way that its focus on mobile-first accessibility and targeting unbanked populations creates a natural demand for stablecoins in everyday transactions, so increased liquidity through incentives can help achieve Celo’s purpose which will also be beneficial to Uniswap through swap fees.
Incentive Package for Sonic (Formerly Fantom)
- We support a $250K incentive match for Sonic based on its similarity to past deployments and alignment with the Uniswap Deployment Guidelines.
Discretionary Budget from UAC for Co-Incentive Campaigns
- Voted For. Think this is a good use of token price appreciation and not taking advantage of it would be a waste, and the 1.5x buffer is solid, covering token depreciation to $4.65. The only potential drawback we see is that this all hinges on trust that funds will be only used for time sensitive opportunities like EtherFi. Usually not in favor of allowing discretionary spending, but we support the individuals on the UAC and AlphaGrowth teams to use the budget responsibly.
[Temp Check] - Adopt The SEAL Safe Harbor Agreement
- Voted for. We are generally in favor of proposals addressing security risks. Think this is great specifically because Uniswap doesn’t have a current framework for recovering active exploits.
[TEMP CHECK] Uniswap DAO Principles
- Voted for. Think this is especially valuable for new delegates to set expectations/focus points and have seen other DAOs vote through similar proposals, so think this is a good direction to go in.