Proposal: GLI — Incentivized Delegation Vaults (Snapshot)
Vote: AGAINST
Rationale: We are voting against this proposal, consistent with the opinion we expressed during the debate. We believe that this initiative will eventually overlap and compete with UVN, currently under development by Uniswap on Unichain, in its effort to attract UNI. This could create an undesired competition in APY to attract UNI. In our view, a smaller-scale 6-month pilot program with a significantly lower budget would have been more appropriate, allowing for renewal every 6 months until the launch of UVN.
Additionally, we want to reiterate our concern regarding a potential conflict of interest between a member of the UAC and the company proposed to develop the IDV system. We do not consider it healthy governance practice for one individual to hold two opposing roles—both evaluating the delivery of a product and authorizing payments to a service provider with which they are directly affiliated.