Thank you for this proposal @metal!
On the one hand, this could be an opportunity for Uniswap to expand into a regulated ecosystem that addresses an important area bridging TradFi and DeFi, and we appreciate the matching commitment and the thoughtful planning that has gone into this proposal. No doubt do we see the potential in this area.
However, we very much share the concerns regarding low TVL and activity, with around 20-50 daily active accounts according to the Metal L2 explorer. Additionally, while it is true that there is plenty of institutional “interest” out there and the probability of them turning that interest into real investments and involvement post the US election has gone up; it’s difficult to gauge how real this “demand” is when they’re “exploring” blockchain.
We get that the low activity is mainly due to the lack of apps available right now, and together with the “looseness” of the institutional demand, altogether it makes the proposal too much of a bet for us to feel comfortable in fully supporting it.