Uniswap-Arbitrum Delegate Program (UADP) Communication Thread

Delegation Pitch
24

February 2025 Voting Updates

Approve the Nova Fee Sweep Action

Vote: For

Type: Snapshot

This is a really straightforward vote.It would recover all of the historical fees for the DAO and make the fee collection going forward a lot simpler. Additionally, some quality of life improvements as well, easy yes.

Non-Constitutional: Stable Treasury Endowment Program 2.0

Vote: For

Type: Onchain

Our two initial concerns with this proposal regarding its purview and the soundness regarding investing in more t-bills have been addressed and we are satisfied with the adjustments/responses. We are voting in line with our snapshot vote.

OpCo: A DAO-adjacent Entity for Strategy Execution

Vote: For

Type: Onchain

For a while, we have been fans of the OpCo. There are a couple of minor questions but overall, we are in favor of the vision and are voting in line with our snapshot vote.

Arbitrum D.A.O. Domain Allocator Offerings) Grant Program - Season 3

Vote: For

Type: Onchain

In line with our snapshot vote, we voted For this proposal due to the positive impact that the previous two seasons. Since Orbit is a vertical with paramount importance, its increased attention during season 3 is good to see.

Request to Increase the Stylus Sprint Committee’s Budget

Vote: For

Type: Snapshot

Increasing a budget continually for programs, typically, is a net negative. Budgets are inherently meant to restrict the amount of funding allocated to given initiatives. But unlike most circumstances, we have decided to make an exception in this scenario due to the clear importance of Stylus on Arbitrum’s competitiveness.

Arbitrum Growth Circles Event Proposal

Vote: Against

Type: Snapshot

We’d like to wait until the direction and results of the AVI program are formally assessed and completed. Until then, introducing this program feels a bit premature. Sure, there are aspects of this that have merit, and it’s a program that we would like to see put into place. But the specifics are not quite concrete, and the online nature of the program may not bring sufficient traction. This is partly why it seems the KPIs aren’t as clear/attractive. If the budget were to be reduced once AVI work is complete, we’re open to revisiting this initiative.

[CONSTITUTIONAL] AIP: ArbOS Version 40 Callisto

Vote: For

Type: Snapshot

This was a straightforward Yes vote for us since the noted upgrades allow Arbitrum to keep up to date with innovations occuring on Ethereum.

Arbitrum Audit Program

Vote: For

Type: Snapshot

Higher degrees of efficiency can be feasibly achieved if functions such as audits can be brought in-house under the purview of the Arbitrum Foundation/OCL. Although we still believe that there are critical initiatives and vendors that should be more formally elected by the DAO and externalized to 3rd party teams, we believe that this program works well if made more “centralized.” If the ADPC would be using the AF’s experience anyways, it only makes sense from a resource allocation perspective to allow for AF to have closer control over the auditing program.

January Delegate Incentive Program

​The UADP has not yet received its January delegate incentive from the Arbitrum DAO’s Delegate Incentive Program—apparently due to Safe issues. We will update the summed compensation for January and February in our March forum post.

25

March 2025 Voting Updates

TMC Recommendation

Vote: Deploy Both Strategies, Only Deploy Stable Strategy, Only Deploy ARB Strategy, Deploy Nothing, Abstain

Type: Snapshot

We are in favor of both strategies at this current point in time and think it’s both worth exploring. When distinguishing the difference between the two, we are in preference of the Stable only strategy as from a DAO perspective, we think long term a more stable allocated treasury and strategy will play off better for longevity.

[CONSTITUTIONAL] - Adopt Timeboost + Nova Fee Sweep

Vote: For

Type: Onchain

Voting in line with our snapshot votes, this is a necessary fundamental upgrade and we look forward to the new revenue generation mechanisms.

[NON-CONSTITUTIONAL] Arbitrum Onboarding V2: A Governance Bootcamp

Vote: For

Type: Onchain

While there are some new concerns, we are still overall in support and think this could bring in a substantial amount of new users and governance participants.

[NON-CONSTITUTIONAL] Arbitrum Audit Program

Vote: For

Type: Onchain

After the feedback incorporation, we are in favor of the Audit Program passing and look forward to new projects building on top of Arbitrum!

[CONSTITUTIONAL] Proposal: For Arbitrum DAO to register the Sky Custom Gateway contracts in the Router

Vote: For

Type: Snapshot

There’s not much reason to vote against this proposal. Without the need for allocating any funds towards this initiative, it makes it an easy Yes vote. We are in favor of further integrating a strong protocol like Sky into the ecosystem so that USDC adoption on Arb does not fall behind relative to Ethereum mainnet and Base. Additionally, the process for these bridge and router proposals, like was the case with Rari, should be better streamlined by the DAO. The current process is unnecessarily cumbersome.

GMC’s Preferred Allocations (7,500 ETH)

Vote: For, Deploy Capital

Type: Snapshot

The three chosen strategies in this proposal make sense from a risk-adjusted standpoint. For an initial tranche of this program, using Lido, Aave, and Fluid are strong choices that steepen Arbitrum’s relationship with well-known and trusted Eth protocols. We respect the decision to not dive directly into more risky strategies like LRTs or use leverage which would require active management. Speaking of risk curves, we believe that allocations to arb-native protocols, apart from larger ones like maybe Camelot, was a good choice. The mandate of the Growth Management track was to allocate ETH in a straightforward and secure manner. Hence, utilizing larger protocols is prudent. Later, we can add arb-native protocols. Let’s get our base set first.

2025 Security Council Nominee Selection

We allocated the entirety of our voting power to Hari (CEO @ Spearbit / Cantina). Due to Hari’s background in working with large clients like Coinbase and Uniswap, along with his technical expertise, we believe he is a good candidate to move into the next round of elections.

February Delegate Incentive Program

​The UADP received December delegate incentive from the Arbitrum DAO’s new Delegate Incentive Program this month.

A total of 7,277.79 ARB was sent to our multisig (0x8326D18edfC50B4335113C33b25116ec268FF3fE). This amount is based on a couple of criteria: snapshot participation, onchain participation, communicating rationale behind the votes, and productive forum conversation, based on the quality of the feedback provided on the forums.

26

April 2025 Voting Updates

[Non-constitutional] ARB Incentives: User Acquisition for dApps & Protocols

Vote: Against

Type: Snapshot

We are generally in support of exploring ways for teams to institute more off-chain and traditional methods for acquiring users. In hindsight, supplementing the STIP/LTIPP with a marketing budget would have made sense. It’s important for dapps to define their distribution channels, along with the funnel pipeline from a user seeing a paid advertisement of X, for example, and being converted to deposit in a lending protocol or liquidity pool—this is superior to simply disclosing one’s onchain distribution strategy. However, all that being said, we do not think that this initiative should go forward at this present time. This should be supplemented with a future version of an incentive program, except this time around, while also incorporating effective off-chain user acquisition strategies.

OpCo – Oversight and Transparency Committee (OAT) Elections

Vote: Frisson, Marc Zeller, Chris Cameron (Paper): ⅓ each

Type: Snapshot

Our voting power was evenly allocated across the above three candidates. Since we foresaw AJ and Patrick already getting elected, we wanted to distribute our voting power to candidates other than them to make our vote more impactful. Having worked with Frisson in the past on multiple projects, and seeing him contribute to Arbitrum for a handful of years now, gave us confidence in electing him. Then, to balance the scales, we selected Paper and Marc as the other two candidates due to both of their candid and transparent approaches to DAO management. We respect their opinions and openness to call out issues when they arise.

TMC Stablecoin Recommendation

Vote: YES, Deploy Stablecoin Strategy

Type: Snapshot

Having been proponents of a strong stablecoin strategy from the start, we are keeping in line with that perspective, voting in favor of this proposal. Risk seems to have been addressed inherently within the strategies themselves, with decent yield attached to the total 15M ARB bucket, along with increased diversification across the select three vendors. Kpk, Avantagrade, and Gauntlet are all teams we’ve collaborated with before and have high confidence in their ability to deliver on their promises. The only downside here, of course, is that ARB needs to be sold.

TMC ARB Recommendation

Vote: Abstain

Type: Snapshot

Although we voted in favor of the stablecoin strategy, we opted to abstain on the ARB recommendation. There are benefits to strategies like covered calls, and we do like Myso generally speaking. However, right now, from a timing perspective, we are more comfortable with simply using a more vanilla stablecoin strategy and then revisiting the ARB strategies recommended in this proposal more towards a market reversal. We don’t think it’s the best idea to sell/earn yield on this ARB in this unpredictable environment. Our encouragement would be to look for alternative strategies in the meantime, perhaps those that are also cheaper in terms of fees. Again, we are happy to revisit this structure during different market conditions, sticking just to the stable strategy for now.

2025 Security Council Nominee Selection

We allocated our voting power to Certora and Michael Lewellin. We have worked extensively and seen great output from both in the past and believe they will continue to do a great job going into the future.

March Delegate Incentive Program

​The UADP did not receive any rewards for the month of March.