Uniswap Deployments Accountability Committee [Update Thread]

Uniswap Deployments Accountability Committee Quarterly Report 1

Introduction
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)!

Budget
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.

Contact Us:
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)

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Hello Everyone,

I am sharing this update on behalf of the second season of the Uniswap Deployments Accountability Committee. @AbdullahUmar, @0xpibblez, @Frisson, and I are incredibly excited to kick of this new season and have a lot of goals in the pipelines.

We just had our first meeting and wanted to update the community on a few of our main points and ideas for the upcoming season.

Uniswap Revitalization and Growth: A large emphasis this season will be revisiting some of the old deployments as well as proactively looking to provide incentives and capture first mover advantage on promising new chains. We will work with @Getty and outreach with teams to get the maximum benefits for Uniswap that we can.
Sponsor New Projects: With multiple people on this season’s committee that have the delegation needed to sponsor new proposals, we’re looking forward to utilizing this as often as needed.
Curate a Leads List: Along with being more reachable with old deployments, we look to be proactive in reaching out to new projects and chains that could use Uniswap. This includes creating a “Leads List” and outreach to many new chains.
Accountability for Promised Incentives: For teams that have and will promise incentives and liquidity upon launch, a focus this season will be to ensure they follow through with transparent communication between us and the community throughout the whole process.

Additionally, we look to help the community in any additional ways we can, such as escrowing and helping distribute any governance voted funds if applicable with the revitalization initiative. An emphasis on more often communication will be place; expect periodic updates and presentations in the monthly community governance call!

Thanks everyone!

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We would like to share an update to the DAO regarding the deployment of the recenting voted in $UNI growth package incentives.

@Getty has helped us deploy a new multisig with the same address that is deployed across a few different chains here: 0xebccf1ce13f63c6b98811f03964f51fc43cef851. Each chain’s approved incentives will be sent on mainnet from our current wallet to this multisig, then bridged to its respective chain and distributed with Merkl’s tech.

For tracking purposes, we will continue to use our current multisig that the DAO approved as the central hub for payments. The one time Merkl deployment costs, plus the Oku integration payments will come from this multisig. Additionally, to repeat, each approved chain’s incentives will also come from this multisig and be sent to the above cross-chain multisig address recently deployed.

To start, we have sent three transactions:

  1. Sent $500k of UNI over to the incentives wallet, to be bridged onto Blast and used as incentives for that chain. Here
  2. Sent $105k of UNI to Oku’s team for front end integration and maintenance cost for the first 12 months period on Blast. Here
  3. Send $43.2k of UNI to Merkl’s team for one time deployment costs for Blast and Scroll. Here

We will update this thread continuously as new funds are sent for incentives and integrations.

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Wow, that’s a quite smart move

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Uniswap Incentives Growth Package Update

We have recently sent another ~$250k of UNI over to the incentives wallet. This time, we used the Scroll native bridge and deployed the funds to Merkl across these liquidity pools:

  • 50%: wETH/USDC 0.05% - 0x813df550a32d4a9d42010d057386429ad2328ed9
  • 30%: wETH/wBTC 0.05% - 0x3Cc5375F08D5DF15611C3a446D31fA99a08BD182
  • 20%: USDC/USDT 0.01% - 0xf1783f3377b3a70465c193ef33942c0803121ba0

Incentives will run for three months from April 11, 2024 2pm ET to July 11, 2024 2pm ET.

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We have recently sent another ~$750k of UNI over to the incentives wallet for the Linea and Base incentives. We then bridged over to Linea and Base and deployed the funds to Merkl across these liquidity pools:

Linea:

  • 50%: wETH/USDC 0.05% - 0xc48622190a6b91d64ee7459c62fade9abe61b48a
  • 30%: wETH/WBTC 0.05% - 0xa22206521a460aa6b21a089c3b48ffd0c79d5fd5
  • 20%: USDC/USDT 0.01% - 0x5856edf9212bdcec74301ec78afc573b62d6a283

Base:

  • 40%: wETH/USDC 0.05% - 0xd0b53d9277642d899df5c87a3966a349a798f224
  • 25%: cbETH/wETH 0.05% - 0x10648ba41b8565907cfa1496765fa4d95390aa0d
  • 15%: USDC/USDT 0.01% - 0xD56da2B74bA826f19015E6B7Dd9Dae1903E85DA1
  • 20%: wETH/USDT 0.05% - 0xd92E0767473D1E3FF11Ac036f2b1DB90aD0aE55F

Incentives will run for three months as per usual, until middle of July.

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We have recently sent ~$250k of UNI over to the incentives wallet for the Manta incentives. We then bridged over to Manta using their native bridge. The Manta team has also matched with ~$250k Manta here. The total ~$500k has been deployed to Merkl across these liquidity pools:

Manta:

  • 40%: STONE/wETH 0.05% - 0x7881dc8e59e644517a95a9687a6b58b86d98db78
  • 40%: wETH/USDC 0.05% - 0xc108d8702d42bae7b3d7d8209a9b40613a7b1d37
  • 20%: USDC/USDT 0.01% - 0x060f2babc09826687be9cbf5c7ede3b3cd00dd78

These Incentives will run for three months until middle of August.

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We have recently sent ~$1.5m of UNI over to the incentives wallet to prepare incentives for four chains: ZkSync, Taiko, Sei, and Moonbeam. (1, 2)

Taiko: We initially bridged over $250k to Taiko to start incentives there first. Unfortunately, we’re having some walletconnect issues that will take a couple weeks to resolve and with the goal of timeliness on a newer chain, we utilized Merkl’s cross-chain incentives feature and will issue rewards on mainnet. Taiko UNI will be bridged back in the coming days.

The incentives will be deployed across these liquidity pools:

  • 50%: wETH/USDC 0.05% - 0xe47a76e15a6f3976c8dc070b3a54c7f7083d668b
  • 30%: USDC/USDT 0.01% - 0x4e35666b3ebf367842b9b6d5b297a2a069f862f5
  • 20%: wETH/wBTC 0.05% - 0xcbf2e8520B88C4eC30B2B6ddfAa2900087B42D55

These incentives will run for three months until the start of September.

ZkSync: As ZkSync nears its token launch, we have allocated $250k of the $500k incentives across these pools. We will run these for 1.5 months (half) and re-allocate the other half afterwards. The goal is to first start with the bridged versions of USDC/USDT and eventually ramp over to canonical versions as time progresses. We will also be using Merkl’s cross chain incentives feature.

The ~$250k for ZkSync is deployed across these liquidity pools:

  • 40%: wETH/USDC.e 0.05% - 0x3e3dD517fEC2E70EDdba2a626422a4BA286e8c38
  • 20%: wETH/wBTC 0.05% - 0xf8C42655373A280e8800BEeE44fcC12ffC99E797
  • 20%: USDC.e/USDT 0.01% - 0x80643eA8601Be7F65362D4c2Dc17B435DfA22762
  • 20%: wETH/USDT 0.05% - 0xa07028b453a1f6ac277e93f3a0ea73b4be5c7d63

These incentives will initially run for 1.5 months until the end of July.

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Moonbeam: Using the rewards sent to the incentives wallet highlighted in the prior update, we have allocated $250k of incentives across these 5 pools. Additionally, the Moonbeam team is also co-incentivizing with $100k of GLMR of their own. We will run these incentives for 6 months this time, per request by the Moonbeam foundation and in line with their matching incentives. We will again be using Merkl’s cross chain incentives feature.

The ~$250k for Moonbeam is deployed across these liquidity pools:

  • 15%: wGLMR/wETH 0.30% - 0xba66370d96a9d61afa66283900b78c1f6ed02782
  • 15%: wGLMR/xcUSDC 0.30% - 0xCb1f81BEf053d3C8adfFd37D2da84Fcc3BcC9954
  • 25%: xcUSDC/xcUSDT 0.01% - 0x53c1341cd81562c1b1a7562fff712CD7be95D51e
  • 20%: wETH/xcUSDC 0.05% - 0xd4d7fb1f98dD66f6D1f393E8e237AdF74c31F3ea
  • 25%: xcDOT/wETH 0.30% - 0x45bD0680bDFd180341A6dE806Aa4637f9AfBFc39

Again, incentives will run for 6 months until the end of the year.

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