Flipside Governance Recap | 03 Feb 2023
Welcome to the Flipside Governance Team Recap. Here you’ll get a full view of what we‘re up to each week, from penning proposals to publishing research to our all-important voting activity & rationales. Enjoy!
🚨 Team Highlights
AAVE AIP Deployment
The Flipside Governance team (with the help of CHANCE) has deployed an AIP (Aave Improvement Proposal) to the Ethereum blockchain for voting. This AIP aims to onboard cbETH to Aave’s Ethereum V3 pools.
Now live for voting, this proposal is a result of multi-team collaboration within Aave. We are grateful for the guidance and support of contributor organizations such as BGD, Gauntlet, Chaos, and notably Andrew Allen of Coinbase Cloud.
We are excited to add new, quality assets — bringing valuable liquidity and new users to the latest Aave pool. Whether a delegate or a token holder, cast your votes now!
📰 Governance News of the Week
Uniswap Bridge Deployment
Uniswap, ever heard of it? The industry leader of AMMs is facing a tough choice:
The DAO’s token holders and delegates are forced to decide between multiple qualified bridge candidates for a BNB Chain deployment.
LayerZero and Wormhole seem to be the leading choices, with investors, CEOs, and users of each chiming in with their two cents.
The debate is a sneak preview into how highly contested DAO2DAO business development might look in the future, the debate has been fierce and at times dirty. As the vote was about to end, James Prestwich, founder of a bridge competitor Nomad (which fell victim to their own hack) claims to have uncovered security concerns.
Wormhole is the leading favorite at this very moment, with the legitimacy of Prestwich’s claims still being debated. Check out the discussion below and to draw your own conclusion here:
https://gov.uniswap.org/t/rfc-update-deploy-uniswap-v3-1-0-3-0-05-0-01-on-bnb-chain-binance/19734/6
a16z, a prominent LayerZero investor, claims to have been denied access to voting with 15,000,000 UNI which would most likely swing the poll in the favor of their portfolio company.
Citing custodial limitations, they have asked for these votes to be incorporated into the final result; see the outcome which they are contesting here:
Stay tuned for next week, where the outcome of this Snapshot vote looks to be solidified on-chain.
📊 Flipside Governance | Analysis of the Week
Over the last 30 days, Stargate DAO, a hot NFT project, has absolutely blown away other spaces in terms of number of distinct voters on Snapshot. Their voter base is also very engaged — their total Snapshot voting base is 153k members, meaning approximately 2/3rd have cast at least one vote on a proposal.
📜 Flipside Governance Voting Activity
For more all-around governance content, be sure to follow us on Twitter or here on Medium. We’ll keep you updated.
Hear, hear! If you dig the work we’re doing for our partner DAOs and want to delegate to us, click the links below to get to the delegation page:
If you are interested in joining the Flipside Governance team, we are always listening — DM @flipsidegov on Twitter.
