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As Nick Tomaino, Blockworks, and Jaek Kwon noted, the Cosmos Hub is undergoing a fork following a vote on Proposal 848, which sought to reduce the inflation rate from 20% to 10%. With 41.1% voting in favor and 38.5% against, the "No" voters, led by Cosmos founder Kwon, are creating a new chain called AtomOne. This new chain will reward ATOM holders with ATOM1 tokens, with additional rewards for those who prioritized security by voting "No." The fork reflects Kwon’s ongoing conflicts with the Cosmos community and symbolizes a significant divergence in the vision for the network's future — but also highlights the decentralized and diverse nature of the Cosmos ecosystem, emphasizing its distinct vision and community-driven approach.
Crypto Twitter had a meltdown last week when some vocal actors failed to distinguish between BanklessHQ — the media company behind the well-known podcast and newsletters, among other things — and BanklessDAO, an active and reputable DAO that had posted a somewhat contentious proposal for services in the Arbitrum forum. Bankless founders Ryan Sean Adams and David Hoffmann were accused of being behind the Arbitrum proposal and attempting to profit through the DAO they were presumed to control. BanklessDAO is, in fact, an entirely separate entity, and neither Adams nor Hoffman has ever participated in the DAO despite owning small percentages of the governance token. Hoffman acknowledged the confusion caused by sharing the brand between BanklessHQ and BanklessDAO. He indicated that he and Adams plan to propose governance changes to clarify the distinction between BanklessHQ and BanklessDAO (they also intend to burn all their BANK tokens).
Aragon has launched its Aragon OSx framework and Aragon App on Arbitrum. This deployment aims to facilitate easier and more cost-effective DAO creation and management. The integration with Arbitrum allows DAOs to customize their governance efficiently and securely while tapping into an ecosystem of protocols and projects. Aragon's no-code solutions have already been used to launch many DAOs; this new development will enhance DAO accessibility further.
The Jito Foundation announced the launch of the JTO governance token, enabling community involvement in decision-making for the Jito Network. The token is part of Jito's growth in the Solana ecosystem, where JitoSOL has become a significant Liquid Staking Token. The governance structure involves token holders in key decisions, such as managing fees and the treasury. The Jito Foundation, with independent directors and a supervisor, will coordinate these decisions. The total supply of JTO tokens is 1,000,000,000, with allocations for community growth, ecosystem development, investors, and core contributors. The initial circulating supply details and token distribution over time are outlined in the announcement.
This proposal focuses on enhancing Gearbox V3 governance by separating different multisig roles and reshuffling technical and treasury guards participants to ensure secure and efficient transaction execution. It introduces a “veto admin” role for rapid response to suspicious transactions and proposes creating a separate multisig for fee management, distinct from the foundation's operational budget. Additionally, the proposal involves transferring approximately $613,000 in fees from V1 and V2 to the new fee multisig, maintaining separation between foundation activities and fee accumulation. The updates and changes aim to improve governance efficiency in anticipation of potential Layer 2 deployments. The voting period ended on November 27th with nearly 100% voting to “Approve.”
This proposal suggests updating the implementation contract for Compound Governor Bravo, with the upgrade including a shift from Solidity version 0.5.17 to 0.8.10. It introduces new features, such as enabling proposal creation and voting with reasons through signatures. The update has undergone an audit by OpenZeppelin, a review by community members and includes comprehensive test coverage, and fork simulations to ensure the effective operation of the new implementation. The voting period ends on November 30th.
This proposal suggests removing the restriction established by AIP-138, which prevents AIPs from being voted on during election periods. This change would allow any AIP that is ready to be voted on to proceed without delay due to election cycles, ensuring equality for authors seeking to have their proposals considered in a timely manner. The implementation of this proposal would incur no cost to the ApeCoin ecosystem. Voting starts on November 30th.
🎙️ Rather Listen?
The Boardroom Roundup brings you the latest DAO news headlines and governance proposals every week:
This proposal from the Aave Chan Initiative outlines a framework for deploying the Aave Protocol on new blockchains. It aims to standardize the evaluation and deployment of new Aave v3 instances, making it more transparent and community-driven. The proposed framework includes a clear timeline and requirements for moving between proposal stages, such as initial Temp Check, documentation submission, technical review, ARFC governance thread, and final Snapshot vote. This approach seeks to balance security with efficiency, facilitating faster and more effective governance decisions for new Aave protocol deployments.
Author Maha, an Aura contributor, discusses the imbalanced distribution of votes within the veBAL system, highlighting that Aura is approaching 50% of veBAL share, which raises concerns about vote imbalance. The post suggests implementing a cap on individual Snapshot voter power to 40-45% to address Aura's size and encourages increasing voter activity in both DAOs. Additionally, it proposes adjusting the Aura Delegate Council's voting method to reflect proportional poll results.
This forum post discusses using the behavior of slime molds as a biomimetic inspiration for designing DAOs. Despite lacking a brain, slime molds exhibit efficient search strategies and spatial memory by extending their network towards unexplored areas and retracting from nutrient-poor or already explored regions. The post suggests applying these strategies to DAOs for finding and utilizing resources efficiently. It emphasizes the importance of exploring and enriching the design space of DAOs, using public forums for sharing discoveries and lessons, and applying slime mold tactics like engulfing problems and breaking them down for efficient problem-solving.
This post discusses the need for an informal, private chat space for delegates within a governance forum, highlighting the limitations of the current forum for early-stage discussions. It acknowledges the benefits of text-based communication for asynchronous interaction and anonymity but points out the challenges in the current environment, discouraging open, exploratory dialogue. The post also addresses concerns about potential collusion among delegates, noting that private communication channels already exist and suggesting that organizing smaller delegates could be beneficial in balancing discussions with larger voting powers.
