Weekly Governance Update

Governance-Meta
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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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