Weekly Governance Update

Governance-Meta
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Hi all,

We’re excited to restart our weekly coverage of Uniswap governance. Like with our previous updates, our goal is to condense everything tokenholders and delegates need to know about Uniswap governance - recent and upcoming proposals, hot topics on Discourse and Discord, events, and more - into an easy-to-read weekly summary.

We’ll be publishing these summaries here in this thread as well as on our new Paragraph feed. If you’d like to receive the Uniswap Weekly Update directly in your email’s inbox, subscribe here and check the box for “Uniswap Weekly Update”: https://updates.boardroom.io/

Feedback? Suggestions? Want to talk about DAO governance? You can reach us on Discord (Boardroom), Twitter (https://twitter.com/boardroom_info), or here in the forum at any time!

The Boardroom Team

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Weekly Update - June 12, 2023

Prefer to receive this recap as an email? Subscribe by checking the box for “Uniswap Weekly Update” at this link: Boardroom | Uniswap Weekly Update - June 12, 2023

:hourglass: Key Points

  • Several Requests for Comment threads regarding what to do with Uniswap’s $ARB distribution from the Arbitrum airdrop are active in the forum.

  • Discussions about the fee switch continue in the aftermath of GFX Labs’ Snapshot polls.

:ballot_box: Proposals

  • No new or recent proposals.

:writing_hand: Forum Highlights

  • On June 7th, Uniswap received ~4.4m ARB tokens from the Arbitrum airdrop, prompting Uniswap Foundation governance lead @eek637 to issue a request for proposals from the community on what to do with the proceeds, which are subject to the DAO’s control. As of now, nine proposals have been made for what to do with the $ARB, including:

    • Gamma’s proposal to “distribute at least 1/3 of $ARB airdrop as liquidity incentives.”
    • Gauntlet’s proposal to “instantiate and dynamically optimize a liquidity mining program on Arbitrum using a portion of Uniswap’s $ARB airdrop.”
    • Alastor’s proposal to “establish a UNI-ARB Working Group.”
    • The Uniswap Foundation’s proposal to “send 50% of the ARB airdrop to the Foundation’s multisig.”
    • DefiEdge’s proposal to establish a “liquidity incentivization program.”
    • BrincX’s proposal to “fund the development of DeFi vaults and analytics focused entirely on increasing Uniswap v3 liquidity on the Arbitrum network.”
    • Flashstake’s proposal to “jump-start time-based yield markets for any Uniswap V3 pair through liquidity mining incentives.”
    • Arrakis Finance’s proposal to use $ARB as incentive to bootstrap liquidity on Arbitrum via Arrakis market making products that are built on top of Uniswap V3.
    • 0xPlasma’s proposal to allocate 1/3 of the $ARB “for a gas refund initiative” on Arbitrum and 2/3 to “incentivize liquidity providers.”@eek637 has called for delegates to weigh in with their thoughts on these proposals before any proposers attempt to move their ideas forward to the Temperature Check phase of governance.

  • Gauntlet posted a Liquidity Mining Analysis in the forum, which examines the results of an “incentives experiment in which UNI incentives were distributed to liquidity providers (LPs) of specific Uniswap pools on Optimism.” They concluded that “the results from the Phase 2 Optimism experiment in general support the thesis that a sustained impact can be achieved by liquidity mining through the liquidity → volume bootstrapping mechanism for some pools,” which contradicts existing research pointing to liquidity obtained through these incentives did not stick around.

  • The fee switch discourse continues, albeit less intensely than two weeks ago when GFXLabs’ Snapshot polls were live. GFX Labs has indicated that they will use the results of these three Snapshot polls to inform a formal Temperature Check vote, which has not yet been introduced. On May 31st, a16z - which has thus far opposed turning on a fee switch - signaled that they will provide an update on their research on the topic some time in June.

:newspaper: Stakeholder/Delegate News

:date: Upcoming Events

There are no upcoming events.

:crystal_ball: Upcoming Votes

There are no upcoming votes in the queue.

Quick Gov Links: Governance Overview | Uniswap on Boardroom

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Weekly Update - June 19, 2023

Welcome to the Uniswap Weekly Update, your guide to what’s happening in Uniswap governance.

:hourglass: Key Points

  • Discussions continued regarding what to do with Uniswap’s $ARB distribution from the Arbitrum airdrop. A target date of Wednesday, June 21st has been set to move the RFC proposals to votes on Snapshot.

  • The Uniswap Foundation’s Bridge Assessment Committee published the results of their work on the use of cross-chain bridges in governance, which provide “the ability to send messages from the DAO’s Ethereum-based governance contracts to Uniswap V3 deployments on non-Ethereum chains.” The Committee evaluated six bridges and approved two for the DAO’s cross-chain governance use case: Wormhole and Axelar.

:ballot_box: Proposals

  • [Temperature Check] Deploy Uniswap v3 on Filecoin Virtual Machine (FVM)
    • Summary: A proposal to deploy Uniswap v3 on the Filecoin Virtual Machine, a programmable EVM-compatible environment built over the Filecoin blockchain. Since its launch on March 14, 2023, usage of the Filecoin Virtual Machine has grown quickly. There have been 808 contracts deployed and over 130,000 transactions have been made, with active contract users increasing by 184.5% since April 1st. This proposal seeks to create a fork of the Uniswap v3 code and deploy it on the FVM.
      Read the full discussion.
    • Proposer: michiganblockchain.eth
    • Status: Passed on Saturday, June 17th
    • Note: An onchain proposal will be introduced once contracts have been audited.

:writing_hand: Forum Highlights

  • The Requests for Proposal - ARB Distribution post along with several of the RFC forum posts saw activity this week as the community weighed what to do with the 4.4m ARB tokens Uniswap received from the Arbitrum airdrop. Here are some highlights:

    • In the thread under Alastor’s proposal to create a UNI-ARB working group, Keyrock suggested passing Alastor’s proposal, Gauntlet’s proposal, and Flashstake’s proposal, which combined would use 100% of the airdrop.
    • Gauntlet responded to several inquiries about their proposal.
    • Gamma Strategies responded to several inquiries about their proposal as well.
    • KarpatKey suggested “a hybrid approach that transfers the entire ARB airdrop to the Uniswap Foundation’s multisig and subsequently allocates it in the following way: 50% used to fund grants for one, or more, of the available RFCs and 50% to be included in the next Delegate Race.”
    • Eek637 from the Uniswap Foundation made a distinction between other proposals and BrincX’s, suggesting that their proposal would be better administered with a grant. BrincX has since revised their proposal such that the use of the ARB would be for depositing and maintaining liquidity positions on Uniswap for ARB-USDC and ARB-ETH, rather than funding development expenses.
    • Eek637 had similar comments for the Li.Fi team on their proposal.
    • BristolBlockchain cosigned Alastor’s proposal to create a UNI-ARB working group.

  • The Uniswap Foundation highlighted their work on the use of cross chain bridges for governance with a post linking to the report and a post providing commentary on the current status of Uniswap’s Avalanche and Celo deployments given that the bridges used therein did not meet the requirements outlined by the Bridge Assessment Committee.

  • The OntologyNetwork posted a proposal “to integrate Uniswap V3 with the Ontology EVM, backed by a liquidity provision of $2M USDT and a $1M USDT liquidity incentive from the Ontology Foundation to encourage early liquidity on the Network.”

:newspaper: Stakeholder/Delegate News

:date: Upcoming Events

There are no upcoming events.

:crystal_ball: Upcoming Votes

There are no upcoming votes in the queue.

An onchain proposal for deploying Uniswap v3 to Filecoin Virtual Machine is expected in the near future following audits.

Proposals for using the $ARB distribution should move forward soon pending community input.

Quick Gov Links: Governance Overview | Uniswap on Boardroom

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Weekly Update - June 26, 2023

Welcome to the Uniswap Weekly Update, your guide to what’s happening in Uniswap governance.

:hourglass: Key Points

  • The community governance process to determine how to use Uniswap’s 4.4 million ARB tokens is progressing with an expected Snapshot vote on Wednesday, June 28th. The Gauntlet and Gamma teams have combined their competing liquidity incentive-focused proposals into a single joint proposal.

  • A Temperature Check vote to deploy Uniswap on Fantom passed on June 24th.

:ballot_box: Proposals

  • [Temperature Check] Deploy Uniswap v3 on Fantom
    • Summary: A proposal from Blockchain@Columbia, with the Fantom and Axelar teams, to deploy Uniswap V3 on Fantom Chain. Blockchain@Columbia argues that with Uniswap’s Business Source License expiring, “it is crucial for Uniswap to establish market share in other ecosystems.” Fantom’s $450m TVL and steady growth makes it a worthy target market for Uniswap. According to the proposal, the Fantom Foundation and the Axelar team will handle backend deployment of the smart contracts at no cost to Uniswap, which will be responsible for frontend deployment.
    • Proposer: blockchaincolumbia.eth
    • Status: Passed on Saturday, June 24th
    • Note: An onchain proposal will be introduced once contracts have been audited.

:writing_hand: Forum Highlights

  • Over the past few weeks, the Uniswap community has been deliberating what to do with the 4.4 million ARB tokens that Uniswap received in the Arbitrum airdrop. More detail on each of the proposals can be found in our previous two Uniswap governance updates, here and here.

  • On Wednesday, June 24th, Gauntlet and Gamma posted in the forum announcing that they are combining their competing liquidity incentive-focused proposals into one joint proposal. According to the forum post, the DefiEdge and BrincX teams, which had similar proposals of their own, “will join as liquidity managers.” The proposals calls for 2m ARB for the program, just under half of the total ARB held by Uniswap.

  • Alastor’s proposal to create a UNI-ARB working group is receiving mixed feedback from the community. While there seems to be some support for the idea, there is also concern about the complexity and accountability of the working group.

  • Uniswap Foundation governance lead @eek637 announced that he will introduce a “Snapshot with each proposal listed as an option,” on Wednesday, June 26th, adding that “the sum of the ARB requests will be less than or equal to the total amount of the DAO’s grant” and that “delegates can vote for any, all, or none of the proposals. Each proposal with > 10m votes will move to the next round of on-chain voting.”

:newspaper: Stakeholder/Delegate News

:date: Upcoming Events

There are no upcoming events.

:crystal_ball: Upcoming Votes

  • A Snapshot proposal on the plan for Uniswap’s ARB distribution is expected to be introduced on Wednesday, June 28th.
  • Onchain votes regarding Uniswap v3 deployments to Fantom and Filecoin Virtual Machine are expected in the coming weeks following audits.

Quick Gov Links: Governance Overview | Uniswap on Boardroom

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