Flipside Governance Recap | 28 October 2022
Welcome to the Flipside Governance Team Recap! Here’s a weekly summary of heady governance activity, hard-hitting research & data analysis, sprinkled with key news from the broader governance space.
Team Highlights 🚨
- Optimism Dashboard Release: we shipped this badass dash to shed some light on OP delegates and their voting activity. Hefty data with a stunning frontend — keep scrolling to learn more.
- Aave Proposal: Working with @ann_droo from Coinbase, Fig posted an ARC to add cbETH to Aave on Ethereum mainnet. Let’s gooo!
- Flipside’s Cosmos Validator: She’s shiny and new. If you use Keplr wallet, you can find the Flipside validator by searching the inactive set.
- Ian, Jess, and Avi Headed to Breakpoint 🇵🇹 🇵🇹: Be sure to say hi if you’re there!
Our Research and Content ✏️
- Governance as a Value Add: Fig explains how investors are rolling up their sleeves and getting involved in governance. Despite this complex mode of coordination, it’s an opportunity for crypto investors to be deliberate about their goals and intentions for the protocol or DAO.
Across the Industry: Governance News of the Week 📰
- MakerDAO Endgame Set in Motion: This week 80.22% of the Maker community voted YES on the Ratification Poll for Endgame Prelaunch MIP set. Initially posited by Maker founder Rune, Endgame offers a total restructuring of the DAO; including clusters of metaDAOs connected to the main MakerDAO.
- SushiSwap Propose Legal Structure for the DAO: SushiSwap embarks on a mission to provide maximum flexibility to proceed in whichever direction governance takes it, while also mitigating risk. From a Cayman Islands foundation to a Panamanian foundation… the race for self-preservation has begun.
- ConsenSys to fund MetaMask Grants DAO: ConsenSys has committed $2.4M annually to the MetaMask Grants DAO, supporting external developers building on the Metamask ecosystem. The Leadership Committee Grant will be voted on solely by its seven members, while DAO Grants will be allocated for the entire DAO to vote on.
Flipside Governance | Analysis of the Week 📊
Optimism, Optimism, Optimism.
It’s time to flex what Flipside can really do for you.
*The ultimate OP Delegation Dashboard enters*
Currently, 131,438 unique wallets have delegated OP with a combined voting power of 20,683,577 tokens. That’s 9.63% of the total OP circulating supply.
From Figure 1 we can identify larger delegation trends. OP re-delegation is mostly in sync with first-time delegation, just in smaller amounts. September 23rd, 2022 saw the largest spike with a whopping 1,139,158 delegated OP.
My personal favourite part of the dashboard is below: trends for OP Gainers & Losers.
From the perspective of your average Joe, finding a delegate is hard. Assessing your delegate in action is arguably harder. One solid metric for whether a delegate is performing well is whether or not they are retaining and/or expanding their delegation over a substantial period of time.
With Figure 2 you can track which delegates have retained, expanded, or lost governance power over the past three months. Assuming OP delegation ebbs and flows are an indication of delegate success (a fair assumption) you can witness a running assessment of their work.
Delegates should be competing with each other. They exists to serve the DAO. With OP Gainers & Losers data out in the open, accountability is strengthened and delegates are incentivized to better serve their token-holders and the DAO.
This dashboard was created by our wonderful Jess and Ian. Make sure you check the whole thing out!
Flipside Governance Activity 📜
For more all-round 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.
