🗳 This Week in Governance - March 7: Votes, Visions, & Velocity
A weekly resource covering crypto governance, politics, and power.
📣 Key Points
Uniswap Mulls DAO's Reign Over Fees
ApeCoin Eyes Fairer Play in DAO Voting Arena
Snapshot Introduces Rewards For Participation
Rocket Pool's Eigenlayer Puzzle: To Fund or Not?
BanklessHQ's Token Return Saga: Community First
Voting Activity (L7)
🗳️ 86,571 ballots
👥 33,525 voters
📜 226 proposals
🌐 77 active DAOsQuery more data using the Governance API
Uniswap Mulls DAO's Reign Over Fees
Following the successful temp-check to “Activate Uniswap Protocol Governance,” Michigan Blockchain, 404 DAO, and GFX Labs seek to amend the Uniswap V3 Factory owner arrangement to grant the DAO authority to modify the fee mechanism in the future. This change aims to foster innovation and adaptability within the DAO by avoiding the limitations of a single, immutable fee structure. A Snapshot poll is being conducted to gauge delegate support for the amendment, with outcomes influencing the incorporation of this change in the forthcoming onchain proposal by the Foundation. Debate on the forum has been vigorous, and the poll is heavily contested. Voting concludes on March 9th.
ApeCoin DAO Eyes Fairer Play in DAO Voting Arena
A post in the ApeCoin forum outlines a concern within the DAO: Some community members feel underrepresented and believe that their contributions and votes are overshadowed by larger entities, leading to a lack of influence in decision-making processes. The proposed solution involves the APE Foundation delegating 6.3 million APE to a community wallet to rebalance voting power and ensure a more equitable representation of community voices without penalizing or disincentivizing large stakeholders. Implementing this solution would involve collaboration among various roles within the DAO. It would use historical data to set inclusive qualifying criteria to restore a sense of ownership and reward to the community. There have been many follow-up posts (93 and counting), and the discussion appears productive.
Rocket Pool Eigenlayer Puzzle: To Fund or Not?
Two connected votes aim to decide the fate of BA082401, a proposal for allocating USD 60,000 from the Grants & Bounties Management Committee (GMC) for research and potential development of an Eigenlayer integration for Rocket Pool nodes. The first vote determines if the funding for BA082401 should be rejected outright, while the second vote decides whether to reduce the project's scope and budget. Outcomes range from not funding BA082401, limiting funding to $10k for initial research, or fully funding the project as initially approved, depending on the combination of results from both votes. These decisions are crucial in balancing the attraction of node operators with the potential risks to rETH holders, highlighting the importance of pDAO’s involvement in determining the project's direction.
BanklessHQ Token Return Saga: Community First
BanklessHQ, Ryan Sean Adams, and David Hoffman have fulfilled the commitment made in the "Burn or Return" proposal by returning the entirety of BANK tokens initially granted to them under the Genesis proposal to the BanklessDAO treasury, excluding tokens that are still vesting and 80k BANK tokens each retained for their continued participation in BanklessDAO. The total amount returned to the DAO is 143,337,805 BANK, with additional tokens to be vested and decided upon by December 27th, 2024.
Snapshot Introduces Rewards For Governance Participation
Boost, a new feature currently in beta on Snapshot, aims to increase voter participation in DAOs by offering ERC-20 token rewards for engaging in governance proposals. It allows for enhancing specific proposals with rewards, using a smart contract to distribute tokens based on chosen distribution methods and eligibility criteria. Designed to combat voter apathy and promote active involvement, Boost is open for beta participation, with ongoing research collaboration to document its effectiveness in encouraging DAO engagement.
📚 Reads
What the Futarchy, by Boffin
On Today’s Episode of As the Crypto World Turns: Statement on ShapeShift AG, by Hester Peirce and Mark Uyeda
The Path to Open MetaGovernance, from the Optimism Foundation
Bitpacs: Emulating DAOs on Bitcoin, by Dillon Healy
A few reflections on ETHDenver from Spencer Graham
🎧 Listens
Money, Power, Politics, and the Internet's Next Battleground, on web3 with a16z
Chris Giancarlo, Former CFTC Chair, on the SEC’s Approach to Crypto, on Law of Code
Public Goods Funding: The New Meta, by Kevin Owocki
📜 Highlighted Proposals
Sushi: Transparency for Treasury Funds and Operations
This proposal addresses concerns within the Sushi community regarding the operations team's lack of transparency, particularly about the roadmap of Sushi 2.0. It calls for the immediate suspension of the compensation committee's duties, full disclosure of salary and bonus packages, suspension of bonus payments and asset sales for funding unratified payments, and clarity on legal entities formed by the operations team. The vote presents two options: instructing the Sushi operations team to comply with these demands or maintaining the status quo without changes. Voting ended on March 7th with 100% voting “Yay.”
Safe: SAFE Token Utility
This proposal aims to enhance the utility of the SAFE token through community-inspired strategies, aligning with milestone E from SEP #3 and planning for future expansions in token utility. It discusses strategic goals for the SAFE token, emphasizing a vibrant ecosystem, decentralization, and tokenizing value while outlining potential areas for development such as account, network, username, and payment abstraction. Additionally, the proposal introduces the Safe Activity Program to incentivize active participation in the Safe ecosystem, with benefits for users. It highlights the importance of community involvement in further developing the SAFE token's utility. Voting ends on March 18th.
Nouns: Back the Next Generation of On-chain Art
This proposal aims to foster the next generation of on-chain artists by enhancing and rebranding the on-chain art deployer Efficax, focusing on CC0 licensing and intelligent contract innovation. It proposes the development of a new version of Efficax to include features like HTML and JS in SVG support, a Nouns-themed frontend, and a redesigned smart contract with CC0 attestation, aiming to make CC0 artwork on-chain composable and significantly reduce costs for artists. The project requests 10 ETH in funding, allocated across several development stages, to achieve these goals and promote wider accessibility and remix-ability of on-chain art while showcasing the Nouns brand to prominent figures in digital fine art. Voting opens on March 7th.
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