[Temperature Check]: Delegation of UNI to Active but Underrepresented Delegates

Temperature Check
21

I will use Delegate 1234567 as examples.

There will be snapshot voting and let’s say at the end of the voting, Delegate 1 got the first place, Delegate 2 got the 2nd place and so on. Delegate 7 getting the last place.

For top 4 delegates that received the most vote, they will receive delegation till each of their delegation reaches 2.5 M UNI.

So if Delegate 1 had 0.5 M Uni, Delegate 1 would have 2 M in delegated from this program.
If Delegate 2 had 0.1 M Uni, Delegate 2 would have 2.4 M in delegated from this program.
The same for Delegate 3 and Delegate 4. And if Delegate 3 and 4 each had 0.2 M UNI, that would mean they each need 2.2 M in delegation.

In total, for top 4, they would have 8.8 M in delegation, which leaves 1.2 M UNI for delegate 5,6, and 7.

For simple example, in voting let’s say Delegate 5 got 5 mil in voting, 6 got 3 mil in voting, 7 got 2 mil. so in terms of percentage out of them, Delegate 5 got 50%, 6 got 30%, 7 got 20%.

And they will split 1.2 M UNI delegated based on it so Delegate 5 gets 0.6 M UNI in delegation, Delegate 6 gets 0.36 M UNI, and Delegate 7 gets 0.24 M UNI .

3 Likes
22

cool yeah i get it now, wasn’t clicking for whatever reason.

So next steps are:

  • run snapshot
  • use results to configure parameters of onchain vote
  • run onchain vote

right?

3 Likes
23

That is correct! I think the snapshot voting should be available today or tomorrow

3 Likes
24

Congrats on the snapshot going live. I just wanted to pop in and confirm that my understanding of the on-chain vote that will result is correct.

I believe that it will be one function call on the FranchiserFactory contract here. The Timelock will call the fundMany function, and pass it two arrays of calldata. The first will be [delegatees] and the second will be [amounts]. The address at index 0 of the delegatee array receives the amount of votes at index 0 of the amounts array. The result of that function call will be an individual Franchiser contract deployed for each delegate funded by the amount of tokens defined by this Snapshot.

The Timelock will be the owner of all Franchiser contracts deployed from this vote, and can recall the tokens by calling the recall function (via a subsequent on-chain vote) on each contract at any time.

Does this match your understanding of the onchain process @Doo_StableLab?

Separately, it would be great to have a dashboard to track all Franchisers funded by the Timelock… just throwing that out there for the Dune wizards lurking in the forum.

3 Likes
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I believe this makes sense but will look forward to the community to share their feedback as well. For example, for recall function, can it be also done via offchain voting instead?

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Nope, has to be called by the owner which is the Timelock in this case - would require a vote.

1 Like
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The below response 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 decided to put our full voting power behind 404DAO as we’re familiar with their work and activity from our involvement in other protocols and we already have a line of communication with them. We look forward to seeing them more in Uniswap’s governance!

5 Likes
28

Copying from post on competition snapshot poll.

The poll has closed and thanks everyone for voting.

Confirming Top 4 Delegates are 404 DAO, Wintermute Governance, PGov, and StableLab, and will get delegation till 2.5 M is achieved. The rest of UNI (out of 10 M) will be split among Keyrock, Karpatkey, and atiselsts.eth proportional to their votes won.

Next steps would be calculating needed delegation amount for each, and also incorporating technical understanding of the implementation.

4 Likes
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Calculation for needed delegation amount for each has been completed.

image
image1887×338 42.2 KB

Calculation method shared here:
https://docs.google.com/spreadsheets/d/1XSsipph7GTBMS9hHFWMZxCQVyE0bZhAeADxxIDPKcpg/edit?usp=sharing

4 Likes
30

Glad to see this moving along!

I added a column in a copy of the sheet to show total votes per delegate if this proposal passes:

# Name Snapshot Votes For Current Voting Power Votes Won (UNI) New Voting Power
1 404 DAO 5786355 250000 2250000 2,500,000
2 Wintermute Governance 5643733 600000 1900000 2,500,000
3 PGov 4744613 250000 2250000 2,500,000
4 StableLab 4489610 142 2499858 2,500,000
5 Keyrock 3252294 10000 493972 503,972
6 Karpatkey 2980075 467000 452626 919,626
7 atiselsts.eth 1010931 250000 153544 403,544

What are next steps?

8 Likes
31

We just confirmed with qualified delegates their address and shared the draft for the onchain proposal for the feedback.

One area I am a bit stuck on is code with the onchain proposal. A delegate asked me whether the code is ready and simulated. If it’s required for the proposal, I am looking for ways to get supported with such.

Once it’s ready, we will reach out to delegates who are able to post it onchain for us.

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Thank you for the column. That will indeed be helpful :pray: I will add it to the excel as well

1 Like
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StableLab team has made a simple dune dashboard to keep track of Uniswap delegations via Franchiser contract. https://dune.com/queries/3239957

Currently in the dashboard, the address 0xa37131410a76791f4a0210e91edd554d85afb4d4 , which received 2.5 mil UNI in delegation is Uniswap Foundation multisig, which was approved last year.

1 Like
34

Can we get the delegates to post their addresses in this thread just to confirm the calldatas for the proposal pls?

@Doo_StableLab
@404DAO @rikagoldberg
@WintermuteGovernance
@PGov @Juanbug
@0xkeyrock.eth
@karpatkey @coltron.eth
@kfx

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# Name Votes Won Voting Power (at the time of the snapshot voting) Needed Delegation (UNI) Total Delegated (UNI) Address (where UNI will be delegated to)
1 404 DAO 5786355 250000 2250000 2500000 0xE93D59CC0bcECFD4ac204827eF67c5266079E2b5
2 Wintermute Governance 5643733 600000 1900000 2500000 0xB933AEe47C438f22DE0747D57fc239FE37878Dd1
3 PGov 4744613 250000 2250000 2500000 0x3fb19771947072629c8eee7995a2ef23b72d4c8a
4 StableLab 4489610 142 2499858 2500000 0xECC2a9240268BC7a26386ecB49E1Befca2706AC9
5 Keyrock 3252294 10000 493972 503971.7015 0x1855f41B8A86e701E33199DE7C25d3e3830698ba
6 Karpatkey 2980075 467000 452626 919625.9675 0x8787FC2De4De95c53e5E3a4e5459247D9773ea52
7 atiselsts.eth 1010931 250000 153544 403544.3309 0xAac35d953Ef23aE2E61a866ab93deA6eC0050bcD
2 Likes
36

Delegates have confirmed via messages that their address is correct but yes, they can check it for errors here.

Confirming StableLab 's is correct

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Confirming ours is correct.

3 Likes
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Confirming ours is correct as well on the table shared by @Doo_StableLab

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39

Confirming 404 DAO’s address is correct

2 Likes
40

My address is correct.

1 Like