Flipside Governance Recap | 26 August 2022
Welcome to the Flipside Governance Team recap! Here’s a weekly summary of heady governance activity, hard-hitting research & data analysis, and key news stories across the broader governance space.
Team Highlights 🚨
- Fig co-authors RFC Hop Delegate Incentivization Trial with GFX Labs and Franco Maklis: The question posed is whether Hop governance should incentivize participation by delegates. The trial program aims to attract and retain both entities and individuals who will actively participate in governance on behalf of HOP token-holders. Exciting stuff.
- Optimism Collective Delegate Committee Votes Live: A maximum of 4 committee formation proposals will be ratified for the duration of Season 2. Up to 4 committee proposals (measured by OP voting “Yes”) will be implemented at the start of Season 2 (with Voting Cycle #6) on Sept 8.
Across the Industry: Governance News of the Week 📰
- Fei Labs to Leave Tribe DAO: Fei Labs will stop participating in the Tribe DAO upon completion of the TIP-121 proposal. On August 23rd Tribe DAO voted to transfer any unvested Fei Labs tokens to the DAO and move TRIBE from the DAO timelock to the treasury. 82% voted on Snapshot to withdraw and burn all protocol FEI in TIP-121a.
- BendDAO Hit by Insolvency Crisis as Ethereum Reserves Drained: The lending protocol built for NFTs allows NFT holders to deposit their assets as collateral to borrow ETH. However, with just 12.5 WETH in the contract, people who lent money to others via BendDAO to buy NFTs on leverage can’t pull their money out. About 15,000 ETH was lent.
- Mural Raised $5.6M to Help Brands Deploy DAO Treasuries: The company is rolling out a beta for its fintech-focused platform to help brands deploy DAO treasury funds ranging from $50 to $100 million in size. In the future, Mural founder Alvarez-Fung said he expects every progressive brand to have their own DAO.
Flipside Governance | Analysis of the Week 📊
Snapshot Analytics
Our very own Jess and Ian made a doppppeee Snapshot dashboard. Check out the whole thing here!
TBCC DAO takes the cake for being the most active space in the past 7, 30, 90, AND 365 days.
The dash also comes equipped with a search toggle enhancement, so you can select a space and view its tailored data. Here’s what you can get for Sushiswap:
The graph above (right) shows the DEX saw a significant influx of new voters in March 2021, totalling 3,335. However from April 2021 to present the new voters/month intake has remained under 1,000.
Snapshot growth continues to rise as more unique voters have been joining nearly every week for the past two years.
Flipside Governance Activity 📜
Here’s a recap of the proposals we voted on and the rationale for our votes:
Hear, hear! If you dig the work we’re doing for our partner DAOs and want to delegate to us, check out how below:
PLUS!
If you are interested in joining the Flipside Governance team, check out our new job posting for a Governance Contributor on Ethereum here or ping @avimeyers on Twitter.
