Flipside Governance Recap | 20 January 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
- Optimism Retroactive Funding Nomination: Flipside and our Governance contributions were nominated for Optimism’s Retroactive Public Goods Funding #2 (RetroPGF.) You can find the post here, under the Tooling & Utilities category. The nomination highlights our OP Governance Dash and our Attestation Tool. It’s been fun working alongside OP Labs to grow the Optimism ecosystem, and we’re grateful for the nomination and the opportunity to continue our investment in OP.
- Fig Speaking at Penn Blockchain Conference: Fig will be speaking at the Penn Blockchain Hackathon & Conference on February 11th, 2023. He will be joined by team members from StableNode, a16z, Chaos Labs, and Gauntlet to discuss “Governance Mechanics and Delegation.” If you will be in attendance please say hello!
📰 Across the Industry: Governance News of the Week
MakerDAO, the creator of DAI and a core DAO paving the way for future Governance models is entering into a new phase of its maturation: PSM wars.
From Coinbase to Gemini, and now Paxos teams are proposing competing (yet complementary proposals) to custody and earn a yield on Maker’s assets.
Doing so leads to a more diversified collateral of DAI and greater capital efficiency. Check out the latest proposal by Paxos, which offers 45% of the federal funds rate returned to MakerDAO.
Here’s a link to the announcement: https://forum.makerdao.com/t/paxos-makerdao-partnership-usdp-psm/19469
At current rates, this would generate $29mm in revenue for MakerDAO 🤯
📊 Flipside Governance | Analysis of the Week
Does it take a true degen to participate in governance for multiple protocols? This week, we took a quick look at the average number of active days on-chain for AAVE voters, Balancer voters, and those who vote on governance proposals on both protocols. Users who vote on both protocols have almost double the number of active days than users who vote on only Balancer proposals and more than double of those who vote on AAVE. Not surprisingly, users who hold either AAVE or Balancer and have not voted in either protocol are the least active group of users, with only 35 average days of on-chain activity.
AAVE and Balancer Token Holder Groups By Average Active Days On-Chain
📜 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.
