Hi everyone, thanks for your continuous feedback and waiting on the update on the proposal. We have modified the proposal as below and are planning to put up another Snapshot to make sure if the original proposal with those changes are good enough to move forward with the delegate application process and its onchain voting.
Before explaining a few changes made to the proposal, like most of the delegates, we view this treasury delegation is a temporary solution, rather than the permanent solution to the voting quorum challenge. At the same time, we should acknowledge the fact that we have already been reliant on this program to move the DAO forward with important initiatives as the data described in the original post shows. This proposal is to improve the original program with a few changes including an introduction to the expiration of the delegations, which is considered a commitment to re-examining the program in a regular cadence.
Here are the revisions to the original proposal that passed its Snapshot, based on the feedback from the delegates and key stakeholders.
Setting a shorter period of the delegations with the promise of re-evaluating the program if and when a significant change to the delegation landscape, especially the Unistaker implementation
Specification: we will set 12 months’ expirations to the delegations. After 9 months, we will re-evaluate the program.
Diff to the Snapshot ver: the expiration term 18 months → 12 months, the re-evaluation term 12 months → 9 months.
Rationale: as the original program covered 2024, and has been extended for about 3-4 months in 2025, we think it’s reasonable to assume this program to continue until the year end and re-evaluate the program in early 2026. However, we are aware of the Unistaker initiative to be shaped up and ready for discussions and its potential ratification in this year. We will be committed to working to make this program and the changes to be introduced by the Unistaker and other initiatives in delegations cohesively exist together and make sure that the DAO independently functions without the treasury delegations in the future. As the original proposal promised, we will publish the report of the program every 3 months after the start and evaluate the qualified delegates based on their requirements/responsibilities for the program.
Snapshot for selection of the “distinguished” delegates out of the qualified delegates
Specification: conduct a Snapshot election to select the “distinguished” (renamed from “Tier 1”) delegates from the candidates who are qualified delegates based on the objective criteria and scoring.
Diff to the Snapshot ver: the name of the selected delegates from “tier 1” to “distinguished” for clarity. Selection logic: using the criteria and scoring → Snapshot election.
Rationale: we still believe that, in addition to recognizing the need to empower under-represented (e.g. low VP), but active delegates who are willing to contribute more to the DAO governance, we should acknowledge and empower the delegates that are approved by the DAO based on their continuous activities to the DAO and impact made for the DAO in various ways that are not possible to be recorded in observable metrics, but can be evaluated by the token holders. While acknowledging the risk of being a “popularity contest”, we believe this is the best way to achieve the representative selection.
Reducing the total amount of UNI for delegations to up to 15M
Specification: 12 delegates will be qualified based on the objective criteria and scoring from the Delegate Reward Program Cycle 3 and receive 1M UNI delegations (hard capped to 1.5M VP in total). The distinguished delegates chosen via the Snapshot election will receive additional 500k UNI delegations (hard capped to 2M VP in total). (compared to the Snapshot ver: 1M delegations to the qualified delegates, another 1M delegations to the selected delegates)
| Type | # of Delegates | Total Amount of Delegations |
|---|---|---|
| Distinguished | 6 | 1.5M (capped at 2M in total) |
| Other Qualified | 6 | 1M (capped at 1.5M in total) |
Diff to the Snapshot ver: the amount of additional delegations to the distinguished delegates 1M → 500k
Rationale: still an increase in the number of qualified delegates (7 → 12) and total amount of the delegations (10M → 15M) to effectively operate and achieve the quorum, but to minimize the reliance from the treasury compared to the originally proposed amount, up to 18M.