The Uniswap Deployments Accountability Committee is providing this first quarterly update to the Uniswap community and will use this thread for future updates. The following provides additional information about operations and process, the current projects pipeline, and budget - including adjustments and noted savings over the past quarter. One highlight to note is that in the governance proposal, we originally anticipated assessing 2 proposals per month. However, over the last quarter, we have reviewed significantly more proposals than originally anticipated. In reviewing the budget allocation, we also realized that a revised compensation structure for the Committee would more accurately and transparently align with the costs associated with reviewing the proposals, while resulting in an overall decrease in the budget. This update goes into further details on these highlights and provides links to additional forum posts or supplemental information.
Operations and Process
The Accountability Committee comprises of members with diverse backgrounds, including governance and technical expertise. Therefore, at least one member with technical knowledge and another member from a different area of expertise will review and provide input on proposals. They are tasked with asking questions and comments on various aspects, such as the proposal’s guidelines and its potential benefits or drawbacks to the Uniswap community.
This entire process will be conducted in a timely manner to ensure that Uniswap governance receives a basic assessment of the proposals’ accountability and transparency levels from the Accountability Committee.
The process has been posted on the forum here.
Current Projects Pipeline
When the committee was first approved, we estimated about two new chains interested in deploying Uniswap v3 a month. We’re happy to report that the number of teams interested over the first three months was double that, with our committee in discussions with 12 new possible deployment chains for the first quarter.
These discussions ranged from introductory meetings and process walkthroughs to general questions to technical deep dives. Some projects have already been proposed to the forums and are in the governance process, some have already passed the final on-chain vote, and some are in drafting stages.
In no particular order, we’re grateful to have spent time chatting and helping teams from these ecosystems: Linea, Base, Filecoin, Scroll, Kava, Rootstock/IOV, Moonbeam, Casper, Fantom, Conflux, Hedera, Ontology. If you’re a chain interested in possibly getting involved, please feel to DM me or any of the other committee members anytime (contacts below)!
We are projecting to use about half of our allocated budget. In the original proposal, the committee requested a total of $87,500. This breaks down into an upfront $3,500 retainer plus $1,000 legal fee per member ($22,500 total for 5 members). The remaining $65,000 project budget is for an expected $6,500 for each evaluated project. However, in practice, we realized this compensation plan significantly overestimated the amount of work needed in each reviewed project. Conversely, we realized the amount of other committee-related work is significantly more than expected since this is the first committee and we are laying most of the groundwork for future committees.
Therefore, instead of $6,500 per project, we will collect the number of hours each member contributed and apply a $200/hour rate to calculate individual member’s compensation. This compensation rate is borrowed from the bridge committee’s program manager rate. With this revised rate our total cost for reviewing all projects this quarter is less than $6,000.
Under our revised compensation plan, each member will still have an upfront retainer of $3,500 and a $1,000 legal fee reserve. Member compensation will include the hourly rate determined compensation paid at the end of the 6 months.
Under the revised plan, the quarterly project costs are $14,100 (22% of total project budget). Our projected 6 month project costs are $28,200 (43% of total project budget). That brings our total 6 month committee costs to $45,700 (about half of the allocated budget) with a total $5,000 legal reserve. We want to also use this chance to set a positive example for future committee members when it comes to compensation and emphasize the DAO’s interest before our own.
Anyone interested in reaching out can message one or multiple members of our committee on telegram with general and/or specific questions. We’ll either help answer directly or spin up a chat with other members and respective parties to best assist any team!
Deployment Process & Delegate Comms (or any questions!): @Juanbug (tg: juanbugsun)
Technical Questions: @rafaelsolari (tg: rafso), @Kydo (tg: kydo0x)
Operational Focus: @Doo_StableLab (tg: doowannam), @kendraleong (tg: kendra_leong)