The following reflects the views of L2BEAT’s governance team, composed of @kaereste and @Sinkas, and it’s based on the combined research, fact-checking, and ideation of the two.
We’ll be voting FOR the proposal.
After discussing it and participating in the delegate rewards working group, we initially voted in favor of the first cycle of delegate rewards. We’re pleased with the first cycle’s results and even more pleased to see Cycle 2 iterate based on learnings and feedback from the past 3 months.
One thing we suggest is that each delegate’s ‘score’ be published every month so delegates can know where they stand and whether there’s anything they need to improve in terms of their participation. Additionally, we want the score to be published as an accountability mechanism. In our eyes, every delegate should be receiving the maximum amount of rewards, and not getting it means that they’re not participating as much as they should.
Normally would be against the kind of idea Userisky suggested that delegates should own at least 5k UNI, but as I think more about it, it makes sense. Own UNI, you are economically vested in ensuring the protocol does well.
The only concern has always been less well-funded delegates being able to rise the ranks.
In this case, it would fit nicely that proposers also get rewarded. So you have two ways to earn.
Aside from that it would be great for this program to extend all the way to the tail-end of Uniswap delegates proposal to voting participation.
Another suggestion is it could be good to give some or all the rewards as locked UNI tokens - further ensures delegates are aligning themselves with Uniswap as their reward is being held in UNI.
Could also potentially do something with a cliff / vesting setup? E.g. you are chosen as a delegate in cycle three and earn some amount of UNI that’s put into a contract that unlocks after something like 6 months and then vests linearly? vesting piece gets topped up if you’re elected next cycle and it effectively turns into a stream of UNI as long as you do a good job and keep getting elected. That ties in some financial skin in the game as well which I think @Userisky is very right in pointing out as lacking.
The following reflects the views of L2BEAT’s governance team, composed of @krst and @Sinkas, and it’s based on the combined research, fact-checking, and ideation of the two.
