Merge the Uniswap Grant Program into Uniswap DAO Governance.
A more intuitive Uniswap DAO future.
Hello UNI community,
When it comes to Public Protocol DAOs on Ethereum (aka DAOs where you can participate in governance just by way of having a project’s native ERC-20), a generalization as of today, there are “Governance DAOs” and “Grants DAOs”.
“Governance DAOs” are where people submit proposals to change arbitrary protocol parameters:
“Grants DAOs” are where people submit proposals for grant funding to build something related to the given protocol:
There are numerous “Grant Programs” in the crypto space that have been created via a Governance Proposal.
- Uniswap Grants: Uniswap Interface
- Compound Grants: Compound | Proposal Detail #40
- Aave Grants: Boardroom Management Portal
- Synthetix Grants: Governance | Synthetix Staking
While some of these Grants Programs may call themselves a “Grant DAO”, they are not really in practice (which is okay; just different) as the grant proposals are chosen by committee as opposed to voted on by the protocols’ token holders.
This distinction is crucial. IMO, a “Grants DAO” are where the specific grant proposals are voted on by the token holders.
Post Mortem: Governance Proposal 005 - DeFi Education Fund
The issue with the UNI Governance Proposal 005 was that it was actually a Grant Proposal that ended up in the Governance DAO proposal pipeline. And remember, Uniswap Grant Proposals are handled by the Uniswap Grants Program and decided on by committee. The Uniswap Governance DAO was not set up to handle a pure-play grant proposal and does not have the necessary requisite community oversight infrastructure established for public tracking of a grant recipient’s roadmap and milestone achievements. Because some of the community didn’t feel like they had transparency into the DeFi Education Fund was cause for some recent backlash [1, 2, 3, etc.].
Current Standing of Uniswap Grants:
Actively in progress now, Uniswap Grants is planning on Reinstating UGP v0.2 with existing funds.
Merge the Uniswap Grant Program into Uniswap DAO governance.
What this means is those that are applying for Uniswap Grants should be put up for UNI token voting to receive a grant or not.
- Funds continue to come from the Uniswap grants pool/multi-sig.
- Voting is conducted at the conclusion of each grant wave. All grant proposals in that wave are put on Snapshot (by the Uniswap Grants Core team) at the same time-window for yes or no voting. Those with the highest UNI votes received are selected to get a grant in descending order until total allocated grant funds available are depleted.
- The Proposal for Reinstating UGP v0.2 with existing funds is updated to remove the grant committee, as grantees will be decided by UNI token voters. However, someone still needs to put the Grant Proposals from the Notion Submission Form on snapshot, Grants need to meet some fidelity of minimum criteria, and there is the need for the multisig signers - so some form of committee needs to remain, just with different responsibilities.
- Uniswap Grant proposals are posted for voting by the Uniswap Grant Core team and, operational speaking, therefore when the wave voting window opens, Grant Proposals can just be posted by core team and DO NOT need to follow the [Temperature Check] → [Consensus Check] → [Governance Proposal] workflow.
- The emergence of a Uniswap Grant Recipient proposal, milestone, and roadmap tracking infrastructure (Updates on UNI Gov Discourse, an Airtable grantee updates-to-community workflow, or some other proprietary ROI tacking tooling) to keep the UNI community up to speed on the deliverables of the given grant to optimize for Grant transparency (aka the core problem going on with gov proposal 005).