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🗳 This Week in Governance - Mar. 2

governance.substack.com

🗳 This Week in Governance - Mar. 2

A weekly resource covering crypto governance, politics, and power.

Duncan Dobbelmann
Mar 2
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🗳 This Week in Governance - Mar. 2

governance.substack.com

📣 Key Points

  • Optimism introduces the Superchain

  • GFX Labs leads Maker delegates to increase GUSD incentive

  • Element unveils Council Kit

Voting Activity (L7)
🗳️ 72,394 ballots
👥 23,800 voters
📜 240 proposals
🌐 75 active DAOs

Let’s get into it 🔥


🗞 News Brief

Optimism introduces the Superchain

Optimism last week announced the Superchain, which “seeks to integrate otherwise siloed L2s into a single interoperable and composable system.” Arguing that “nobody has truly scaled Ethereum” yet — and that no single chain can — Optimism says that it’s “time to build together, not apart.” Using the OP Stack, which is open source and prioritizes decentralization, security, and governance, anyone can create an L2 — just as Coinbase has done with Base, which was announced in tandem with the Superchain framing.

GFX Labs leads MakerDAO delegates to increase GUSD incentive

In January of this year, we wrote about the conflict at MakerDAO concerning the renewal of its partnership with Gemini, which had provided a 1.25% marketing incentive to the DAO for stimulating DAI’s GUSD Peg Stability Module (PSM). The vote to renew the partnership passed with a very slim majority, even with Gemini increasing its incentive to 1.5%.

At the time of the vote, GFX Labs proposed a temporary working group “to adjust expected rewards upwards and downwards with the yield on the underlying portfolio” backing GUSD. GFX Labs last week announced that this group had worked with Gemini to settle on a 2% marketing incentive, beginning next quarter. GFX Labs wrote in the forum: “This is a good example of your delegates and core units rolling up their sleeves and finding a compromise where everyone is better off than before.” Questions about the partnership continue to be raised, however.

Element announces a new governance interface and Council Kit

Element, the “open-source protocol for fixed and variable yield markets,” has introduced a new governance interface, built on top of Council Kit. Council Kit is a set of soon-to-be-open-sourced tools created by Element and designed “for any DAO to easily deploy on top of the Council Protocol smart contracts.” Element’s interface includes easily accessible information about proposals past and present, voting and voter power, and more — but other DAOs can easily develop according to their own needs since Council Kit is “a complete and modular governance system.”


📚 Good Reads

  • Some personal user experiences, by Vitalik Buterin

  • Decentralized Governance and Digital Asset Prices, by Ian Appel and Jillian Grennan

  • A Science-Based Approach to Community Building, by Ashish G in State of the DAOs

  • Community Health - An Imperative for Web3 Communities, by RnDAO for Realizing MetaGame

  • Governance Delegation in AMMs, in the Velodrome Development Journal

  • An introduction to “Governance as Conflict,” from BlockScience

  • Nouns DAO and the Philosophy of Governance, by 0xBobateas in the Stanford Blockchain Review

Forums:

  • 1inch: Grants Review Council

  • Aave: Safety Module - Governance Impact

  • BanklessDAO: Swapping Multi-Signers

  • ENS: Unstoppable Domains Patent

  • Euler: Increase Snapshot Quorum

  • Index: Metagovernance Organization and Delegation

  • Ooki: DeFI’s most significant legal victory to-date validates the DAO rope-a-dope strategy

  • Optimism: Agora (vote.optimism.io) Feedback Thread

  • Paladin: Protecting Paladin’s Contracts

  • ShapeShift: Amendment to the Conflicting Votes Section of the FOX Governance Process

🧵 Threads

  • DAO governance and chatGPT, from BanklessDAO

  • A couple of months ago, I got my haircut by Chase Chapman

🎧 Listens

  • oSnap and the Future of Multi-sigs, with Snapshot and UMA

  • Current State & Future of DAOs w/ Linda Xie, on Syndicated Talks

  • Jaya Klara Brekke: Decentralizing Power, Market Failures, and Token Economics, on Mindmeld

  • The State of the Nation, from CityDAO


📜 Highlighted Proposals

Migrating 0x Protocol to On-chain Governance

View the discussion

0x protocol, the self-described “liquidity endpoint for DeFi” on multiple chains, has initiated a proposal to migrate to on-chain governance, following its roadmap. While the community-owned treasury is already governed on-chain, the protocol itself is governed off-chain. The plan is to move to a system based on Compound governor so that 0x can “serve as the credibly neutral and uncensorable open standard for the global exchange of value” in a fully decentralized way.

👥 Type: Forum discussion
✍ Author: Eric Wong

CB Recruitment — Head Chef Remuneration [Signal]

View the proposal

This community signal vote is intended to get a sense of whether and how the DAO will honor the remuneration package that was offered to CB Recruitment for helping to find Sushi’s next Head Chef (Jared Grey was ultimately selected). CB Recruitment specified three different ways in which it could be paid, each totaling $100k. The signal vote includes those three options — as well as abstain and “no remuneration package” options. The latter currently has 27% of the vote.

✅ Voting started Feb 24
⏰ Voting ends: March 3
⚡ Type: Snapshot Vote
💬 Read the discussion
✍ Author: Sushi (sushigov.eth)

Temperature Check: Create Accountability Committee

View the proposal

This proposal from Other Internet to create an Accountability Committee for Uniswap is currently in the temp-check phase to determine the inaugural five committee members (who will serve March-August 2023). Among other things, the committee is intended to “facilitate the operational autonomy of the [Uniswap] DAO.” The maximum estimated compensation budget for the half-year term is $82,500. This Snapshot proposal uses approval voting, which allows the voter to select as many options (candidates in this case) as they would like; the five candidates with the most votes will serve on the committee.

✅ Voting started Feb 24
⏰ Voting ends: March 3
⚡ Type: Snapshot Vote
💬 Read the discussion
✍ Author: Laura Lotti (Other Internet)


💭 Ecosystem Takes

Twitter avatar for @divine_economy
david phelps 🐮🏰🃏 @divine_economy
so while everyone in crypto keeps asking if DAOs have any future, reddit has quietly given every subreddit the ability to mint and use tokens for their community. they’ve turned every single subreddit into a DAO. https://t.co/PxVp2jtJRM
6:25 PM ∙ Mar 1, 2023
252Likes27Retweets
Twitter avatar for @flipsidegov
Flipside Governance @flipsidegov
The most critical issue facing DAOs right now is how they organize themselves, how to make decisions, how to decentralize. It’s like a ton of tiny villages with amnesia coming together, trying to create community, write constitutions, and govern themselves.
6:01 PM ∙ Feb 27, 2023
Twitter avatar for @ddwchen
tree girl @ddwchen
all artists and creators will one day realize how powerful decentralizing their community can be - create more engaged and loyal fans - makes admin/ops more efficient and reliable - more opportunities for + easier to facilitate cross brand partnership activity
2:47 PM ∙ Feb 28, 2023

🎈 Have a Meme

Twitter avatar for @b3nnn21
b3nnn.eth/lens @b3nnn21
Presenting your proposal to the DAO
3:30 AM ∙ Feb 22, 2023
799Likes109Retweets

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📣 New ideas for this newsletter or the dashboard?

Drop us a comment or request using the link below!

Ideas and Feature Requests

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🗳 This Week in Governance - Mar. 2

governance.substack.com
1 Comment
Luyaoyuan
Writes Luyaoyuan’s Newsletter
Mar 3

Compound Initialize cUSDCv3 on Polygon

https://compound.finance/governance/proposals/151

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