🗳 This Week in Governance - March 14: New Frontiers & Focused Funding
A weekly resource covering crypto governance, politics, and power.
📣 Key Points
Wyoming’s Trailblazing Law: Paving the Way for DAO Recognition
Wormhole’s Leap Towards Decentralization
Optimism Sharpens Focus by Refining Public Goods Funding
Gnosis aspires to become a key player in payments
Voting Activity (L7)
🗳️ 102,618 ballots
👥 33,758 voters
📜 218 proposals
🌐 72 active DAOsQuery more data using the Governance API
Wyoming’s Trailblazing Law is Paving the Way for DAO Recognition
The bill outlines the Wyoming Decentralized Unincorporated Nonprofit Association Act (DUNA), which provides for decentralized unincorporated nonprofit associations' formation, management, and governance. It defines key terms related to decentralized nonprofit associations, including their formation criteria, administrative structures, and the use of digital assets and distributed ledger technology. The act specifies legal provisions regarding the associations' operations, including property management, member rights and obligations, and procedural details for mergers, conversions, and dissolution, effective July 1, 2024.
Wormhole’s Leap Towards Decentralization
Wormhole, a leading interoperability platform connecting over 30 blockchains, recently detailed its approach to an upcoming airdrop focused on rewarding genuine onchain users and community members. They used advanced anti-Sybil techniques and comprehensive onchain data analysis to identify deserving recipients, ensuring the airdrop favored active and legitimate participants. With the airdrop, Wormhole will be transitioning towards a decentralized governance structure through its native token, W. This move aims to empower token holders to influence the protocol's direction through onchain governance, covering vital operational decisions such as adding blockchain connections and adjusting smart contracts.
Optimism Sharpens Focus by Refining Public Goods Funding
A forum post discusses transitioning Retroactive Public Goods Funding to narrower, more focused rounds based on the realization that broad scopes overwhelmed participants. The post underscores the clarity and targeted impact gained through narrowing the scope. The Collective aims to experiment with narrow-scoped rounds to improve builder guidance, measure effectiveness, and prioritize types of effects. It acknowledges the difficulty of prioritization but aims for long-term benefits in rewarding contributions to the Optimism Collective.
Gnosis Aspires to Become a Key Player in Payments
Gnosis is transitioning to Gnosis 3.0, a collective of aligned projects centralized around the GNO token. This evolution aims to make decentralized financial tools universally accessible, moving from foundational infrastructure development to practical applications for widespread use. Gnosis 3.0 includes ventures like Gnosis Pay and Gnosis Wallet to facilitate this transition, emphasizing the integration of blockchain technology into everyday financial activities.
📚 Reads
The DUNA: An Oasis for DAOs, by Jennings and Kerr
Exploring Mycofi: Mycelial Design Patterns for Web3 and Beyond, by Emmett and Zartler
Governance Decides Where Ethereum Transacts: The L2 Governance Race, from Tally
Arbitrum DAO Proposal for Million-Dollar Donation to Tornado Cash Devs to Be Reworked Over Legal Concerns, from The Block
Maker 2023 DAO Retrospective, from Steakhouse Financial
Polkadot OpenGov Deep Dive, by Elem Oghenekaro
Launch Season is upon us, from Rune Christensen
🎧 Listens
Karpatkey: The Bank for Defi w/ Marcelo Ruiz de Olano, on StablePod
Cross-Chain DAOs, by Rafael Solari
Dencun 101: Tim Beiko Explains Ethereum’s Upgrade and Beyond, on Bankless
Inside MakerDAO’s DSR Hike: Balancing Demand and Revenue in a Bull Market, on 0xResearch
📜 Highlighted Proposals
Arbitrum: Request for Continuation of the Arbitrum DDA Program
The proposal suggests renewing the Arbitrum Grants Program via the Delegated Domain Allocation model with a $4 million budget over two quarters, distributed equally across four domains: New Protocol Ideas, Gaming, Dev Tooling, and Education, Growth, Community, and Events. This initiative managed through Questbook, aims to support projects aligned with Arbitrum’s roadmap, responding to community and builder feedback for increased funding and structured oversight. The proposal also outlines an increased grant cap, detailed evaluation processes, and financial management plans to ensure accountability and the program's effectiveness. Voting ends on March 17th.
Forefront: Dissolving the Forefront DAO
The Forefront Core Team proposes dissolving the Forefront DAO and returning funds to 2021 Treasury Diversification Round participants due to the loss of momentum and lack of a clear profitability path in the bear market. The distribution of funds will be proportional to each participant's involvement in the round, with the process planned for completion by the end of March. Additionally, $FF tokens, viewed as governance rather than investment vehicles, will not be reimbursed to holders outside the TDR, and the remaining $FF in the treasury will be burned. Voting ends on March 15th.
Purple: Migrating Purple to Base
The proposal involves migrating BuilderDAO's contracts from Ethereum Mainnet to a Layer 2 solution (Base) to reduce transaction costs and enhance member engagement. The process includes pausing auctions to update governance settings, migrating the DAO, resuming auctions with new settings, and bridging a portion of the treasury to Base. This move, necessitated by high mainnet costs, aims to lower transaction fees, increase interactions, and align with the Farcaster ecosystem with notable changes, including a shortened vote period and the introduction of protocol fees. Voting ended on March 13th with 100% voting “for.”
Sushi: Immediately Restore Sushi DAO’s Governance Forum
The proposal aims to immediately restore the Sushi DAO governance forum after its removal by the operations team, an unprecedented action that erased all governance discussions since Sushi's inception. This move claimed to be for migration purposes, has raised concerns over technical competency and governance disregard. Amidst efforts to enhance governance transparency and accountability within Sushi DAO, the deletion and suspension activities surrounding the forum have sparked suspicions, highlighting perceived negligence in maintaining a vital communication channel. Voting ended on March 12 with 100% voting “yay.”
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