This will be our (FranklinDAO/Penn) last post here seeing the impending 3 hour deadline for votes. Since we last posted here a few hours ago where we expressed our opinions regarding how we believe future bridging solutions should go, we are currently abstaining from a vote.
For some background, this has certainly been the #1 most lobbied vote on Uniswap that we have ever partaken in. Our opinions expressed above should be coupled with this thought: no matter the outcome, this should be a short term victory for either party. In the very near future, we would like to once again enforce that we think a multiple bridge multisig should be used to give us the best of both worlds.
At the end of the day, taking away our opinions regarding the jurisdiction of this vote, if we were forced to choose on this proposal, our team is genuinely split right down the center with our decision. In short, we believe Wormhole’s council of 19 at face value is more appealing to us, however, custom solutions that L0 have promised @Kydo bring them back up to pretty much par in our eyes if not slightly the edge, given proper execution, which is a whole another story.
Ultimately, this has definitely been a pretty “stressful” day as we’ve been trying to digest information in real time (while trying to grind for the Starknet Hackathon lol). Truly, to everyone who reached out to us, thanks for your time and please understand that this “fence-sitting” by us is not one of inactivity and irresponsibility, but one of careful thought, debate, ultimate stalemate. We’d also like to note that as an organization, we’ll look to continuously improve our internal governance decisions and poise ourselves to better tackle similar situations like this in the future.
Finally, we’d once again like to thank the UF team for their constant communication these past few weeks, the BD teams of both LayerZero and Wormhole who we’re sure have both lost many hours of sleep, and other participants who have either reached out to us or been very responsive with help (@GFXlabs, @Kydo & other schools, VCs, and other interested projects and protocols). We truly are impressed with the activity around this and hope to see it stay around.
PS: Seeing that there’s a good chance this vote might come down to a16z’s verbal communication on the forums, but no vote on Snapshot (custody hurdles?), we’re interested in how this situation will be handled, is there a precedent set here yet?