Proposal: Grow Uniswap on Plasma (Snapshot)
Vote: ALLOCATE 250K
Rationale: We fully support this proposal. While at SEEDGov we have recently supported the idea that Uniswap’s incentive efforts should currently focus on the growth of Unichain, and we have therefore voted against allocating incentives to smaller or newly launched L2s, since such incentives generally offer poor ROI, with capital leaving immediately after incentives end and TVL collapsing shortly thereafter, providing no lasting benefit to either the chain or Uniswap, we believe Plasma is a clear and compelling exception to that rule.
Plasma is a new chain, but it has the strong backing of Tether, which aims to establish it as a stablecoin chain focused on becoming a payment infrastructure. Its growth has been remarkably fast, yet unlike other networks, we believe this is not a temporary phenomenon: Plasma is here to stay and is on track to become one of the most significant networks in the ecosystem.
For these reasons, we consider it entirely reasonable to deploy incentives to attract users, and we note that the proposed incentives are fully aligned with the UniswapDAO’s own deployment guidelines. We also welcome Plasma’s commitment to allocating no less than $3M of its own incentives. This represents a significant investment and effort on their part, far greater than that proposed by Uniswap. While this is logical, we still applaud that commitment.