🗳 This Week in Governance - April 18: Protection, Participation, and Planning
A weekly resource covering crypto governance, politics, and power.
📣 Key Points
ENS establishes mega-delegate to counter governance attacks
Nouns proposes fungible token for increased participation
Aave DAO to select second risk service provider from finalists
Decentraland considers a strategic framework
Uniswap is electing a treasury working group
Voting Activity (L7)
🗳️ 153,500 ballots
👥 20,761 voters
📜 269 proposals
🌐 65 active DAOsQuery more data using the Governance API
📰 Updates
ENS establishes mega-delegate to counter governance attacks
A new delegate, veto.ensdao.eth, has rapidly gathered over 3.8 million delegated tokens within the ENS DAO to counter potential governance attacks (and not to conduct one). This account operates through a particular contract that restricts voting to "no" by trusted DAO members, who pledge to use this power solely to veto proposals threatening the DAO's integrity or contravene the ENS constitution. This strategy aims to initiate more robust protective measures against governance attacks, with proposals for an official “vetoer” role and broader improvements in delegation and token distribution being considered for the future. See the Pledge here.
Is it time for $nouns?
The Nouns Verbs Team is proposing the creation of a fungible token, $nouns, to facilitate broader, more affordable access to Nouns ownership, aligning to expand the Nouns brand. This token will enable holders of a Noun NFT to convert it into one million $nouns tokens, which can then be redeemed for a Noun NFT using the same amount of tokens. The proposed token, to be governed by the DAO, will integrate standard ERC-20 functionalities and an upgradable contract framework, allowing for future enhancements and governance decisions by the DAO, including adjustments to token governance and potential changes in the redemption process.
📚 Reads
Data DAOs: The Path Towards a User-Owned Internet, by Anna Kazlauskas
Supporting the DeFi Education Fund (Uniswap forum discussion)
Elect a Mayor to Save the DAO (BanklessDAO forum discussion)
Addressing immediate gaps in DAO governance (Gitcoin forum discussion)
🎧 Listens
"We Plan to Win" - Hayden Adams on Uniswap vs. the SEC, on Bankless
Governance Solution Providers & DAO Marketing w/ Juan from StableLab, on DAO Talk
💼 Jobs
Voting Power Distribution Lead at Optimism
📜 Highlighted Proposals
Aave: Onboard New Risk Service Provider
The Aave Chan Initiative proposes to select a new Risk Service Provider for Aave DAO from three contenders—LlamaRisk, OpenBlock, and Allez Labs—each of which has passed preliminary evaluations. The selection process involves a ranked voting ARFC snapshot, allowing governance members to express their preferences among the three candidates. The winning proposal from this snapshot will progress to an AIP vote for final approval as the second Risk Service Provider alongside Chaos Labs. Voting opens on April 18th.
Arbitrum: Double-Down on STIP Successes (STIP-Bridge)
The STIP Bridge proposal seeks to sustain and enhance Arbitrum's position in the Layer 2 market by providing interim support to key protocols through targeted incentives. This initiative is designed to prevent the migration of these protocols to competing networks by ensuring their alignment and engagement until the launch of the Perpetual Incentives Program. Eligible protocols can apply for bridge grants, which are capped based on their previous funding under STIP, to continue developing on Arbitrum while maintaining user retention and project momentum. Voting opens on April 19th.
Decentraland: DAO Strategic Framework
This proposal introduces a Strategic Framework for Decentraland DAO to guide the organization's long-term goals and decision-making processes as it grows and faces increasing complexities. It details a structured annual and quarterly process for setting and reviewing goals, aligning actions, and updating key performance indicators to maintain responsiveness to the community's needs. This framework would undergo a test period from July to August 2024 before full implementation in January 2025. Voting on the proposal ends on April 29th.
Uniswap: Treasury Working Group (UTWG) Election
The Uniswap DAO has passed a temperature check to establish the Uniswap Treasury Working Group (UTWG), which is tasked with researching best practices for managing the treasury. The UTWG, consisting of four members to be elected through this proposal and two pre-selected ones, will explore historical treasury management strategies and interview experts, concluding their eight-week research period by publishing findings and recommendations for the DAO. The group's objective is not to manage the treasury directly but to develop informed proposals that could include initiating a treasury manager RFP process, with subsequent steps requiring further alignment with the DAO's legal structure. Voting ends on April 20th.
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