As this is a snapshot vote, we hope that the final proposal includes many of the disagreements DAO members have brought up. The following risks are valid:
- A relatively low TVL: Saga protocol activity is too low for incentive consideration
- Relatively new DEX,
- Pool selection: 3/5 of the pools are SAGA pools with an asymmetric reward distribution
However we believe that:
- “Saga Foundation will contribute 2mm SAGA tokens per month (~$1.0mm USD per month as of Feb 27, 2024) to the Uniswap V3 pools to bootstrap Uniswap liquidity on Saga” is significantly more than the Uni incentives,
- Saga is focused on setting Uniswap as the core canonical DEX
are good reasons to fund this project. While we understand the merit of not funding a low TVL project, as a new project that is prioritizing Uniswap, it would be a good idea to incentivize this early so that Uniswap is the major DEX. We believe to some degree, it is not up to the DAO to determine the legitimacy and future potential of a project like this, but to greedily aim to maximize market share and TVL.
Blockchain at Berkeley will be voting FOR this Snapshot vote