DAOs: Aragon announces new smart contracts, GitcoinDAO diversifies its treasury, Gnosis Guild announces Tabula, Aave’s proposal to adjust L2 requirements is live, Uniswap continues exploring a fee switch, Getty Hill says goodbye to Compound, Yam governance attacked, Snapshot adds shielded voting, and more!
Biweekly report on decentralized autonomous organizations vol.30, 8th July — 22th July
TL;DR
- Aragon announces new smart contracts. Main DAO delegated voting procedure proposal is under discussion. DAO transition roadmap released. CIPs are open to vote till 5th August
- Aave’s proposal to adjust the governance requirements (proposition power, quorum vote differential) for Level 2 proposals is live. The proposal to freeze all reserves on the Aave V3 deployment on Harmony passed
- Balancer’s BIPs 26, 27 & 28 passed. Governance voted to deactivate CREAM/WETH gauge. Messari’s State of Balancer Q2 2022 report
- Aave DAO carries out $1M treasury swap with Balancer
- Bancor’s proposal to set the V3 Vortex to 90% passed successfully. The DAO continued developing recovery plans aimed at restoring token reserves on the protocol
- GitcoinDAO begins executing its treasury diversification efforts. Gitcoin Product Collective proposal moves to snapshot
- Public Goods Alliance to be formed between Radicle and Gitcoin
- Gnosis Guild anounces a new DAO publishing tool Tabula. GnosisDAO’s GIPs 54, 55, 57 & 58 approved
- Gnosis Safe raises $100M, rebrands to Safe
- MolochDAO to direct 500 WETH to Protocol Guild to support the Ethereum core protocol contributors
- Compound’s proposals 112 & 113 executed. Getty Hill says goodbye to Compound
- Index Coop’s IIP-159, 160 & 161 passed
- Lido discussing selling its native token to help cover operational expenses. Lido is launching stETH on Layer 2
- The Idle community is voting to add IDLE Gauges to Euler Finance & Angle Protocol pools has been successful
- Curve’s proposal to whitelist Redacted Cartel
- Kleros announces new product Moderate
- MakerDAO Greenlight Poll for adding Backed Short-Term Bond ETF (bIBTA) as new collateral has started. Ratification Poll for Governance Facilitator Onboarding GOV-001 is live
- The Uniswap community discussing “Fee Switch” Design Space & Next Steps. Uniswap LPs fell for a phishing scam, there was no exploit
- mStable’s TDPs 45 and 46 approved
- PieDAO’s Treasury Committee Yearly Revision. The DAO closed the BasketDAO BDI migration
- Yam Finance governance attacked. YIP-110: The re-vote for the treasury redemption proposal is up on snapshot
- The Nexus Mutual community is considering whether to withdraw the Nexus Treasury deposit of wNXM from Bancor v3, and whether to reimburse Risk Assessors for undue loss from Claim 113
- Synthetix 2022 release milestones — halfway review and deep dive. Synthetix DAO and Jump Crypto renewed partnership
- API3’s dAPIs are now available on 4 mainnets: Polygon, BNB chain, Avalanche & RSK
- PoolTogether on Optimism
- Colony’s 10-day community challenge
- New app “Boost” by Hedgey & DAOhaus
- KyberSwap launches integration with Optimism
- CityDAO’s proposal to acquire Baby Parcel for NFT leases
- Swap tokens between SuperRareDAO and BottoDAO
- JokeDAO officially launches on-chain governance
- FWB’s Leadership Vision + Results proposal
- Alchemix’s [AIP-55] Set rETH and stETH Deposit Caps to Zero
- A StarkNet announced plans to launch its native token, which will be used for governance, payment of transaction fees, and staking
- ENS DAO’s proposal for funding True Names Ltd approved
- Snapshot adds Shielded Voting
- The Constitutions of Web3
- Active proposals: Aave, GitcoinDAO, LidoDAO, MakerDAO, Nexus Mutual, Synthetix, Yam Finance
- New & ongoing discussions: Compound, Balancer, PieDAO, Uniswap, mStable, Curve, Yearn Finance, Nexus Mutual, BancorDAO, Akropolis, Index Coop, GnosisDAO, PoolTogether, API3, Idle, KyberDAO, Kleros, Badger DAO
- And more!
Overview
Blockchain technology is already radically transforming the financial system. However, properties such as trustlessness and immutability aren’t only useful in monetary applications. Another potential application is governance. Blockchains could enable entirely new types of organizations that can run autonomously without the need for coordination by a central entity.
“Instead of a hierarchical structure managed by a set of humans interacting in person and controlling property via the legal system, a decentralized organization involves a set of humans interacting with each other according to a protocol specified in code, and enforced on the blockchain.” — Vitalik Buterin
DAO stands for “decentralized autonomous organization” and can be described as an open-source blockchain protocol governed by a set of rules, created by its elected members, that automatically execute certain actions without the need for intermediaries.
In simple terms, a DAO is an organization that is governed by computer code and programs. As such, it has the ability to function autonomously, without the need for a central authority. Like how DeFi is programmable money and how NFTs are programmable media, DAOs are programmable organizations of people.
DAOs Ecosystem Statistics
Top DAOs
Like two weeks ago, the rating is headed by Uniswap and BitDAO.
Global stats
Leading DAOs by votes
Read & Listen
- Governance is about action, not decision-making by Spencer Graham
- First Principles of Crypto Governance by Luca Prosperi
- Measuring decentralization in DAOs: Lessons from nation-states by Lucia Korpas
- Three Key Takeaways on DAO Governance by 0xJustice
- Evolutionary Organization by Chase Chapman
- Rebuilding the Governance Premium by Staking Rewards
- Meta Governance & The Lack of Consolidation In A Bear Market by Degen Sensei
- The Token Compensation Paradox: Losing Reputation To Earn Money by Eliot Couvat
- How Decentralization is Reshaping Technology and Governance by Bruno Lulinski and David Kerr
- What’s wrong with coin voting? by Sharana Sabesan
- MonetSupply: Perspectives on MakerDAO Governance on Pledge Allegiance Podcast
- Magic Internet Society w/ Dennison Bertram on On the Other Side Podcast
- Snapshot | Digital Governance w/ Nathan VDH on Crypto Sapiens Podcast
- GitcoinDAO Governance Evolution on Green Pill Podcast
- 2022 Stanford DAO Workshop presented by DAO Research Collective
- Are Airdrops Effective in Building Strong Communities? by Alex Topchishvili
- Ciao, I’m off to join a DAO by Arrianne Talma
Frameworks
Aragon
Recent blog posts
- The Future of Aragon: Treasury Slated to Move Into the Hands of ANT Token Holders
- Aragon’s New Smart Contracts: the Why, the What, and the How
Active votes
Discussions
- Delegated Voting Procedure: How We Govern
- Mastering Governance: Legislature — invitation to the workshop
- Proposal — Guild Members Pod (GMP) — a financial safety net for primary contributors
- The TAO voting for Aragon (the tech side), and a delegated voting procedure (the social side) proposed
- CIP 0 Goverance proposal: historic versioning
- CIP 1 Governance Proposal: Edit the Aragon Network Charter to be Tech Agnostic
- Building the people’s internet: Mindset & Execution
Moloch
Discussions
- Grant Proposal — Hashbon Pass
- MGP APR 2022 — Black Sky Nexus
- Grant Proposal: Grantr.app
- Grant Proposal — Protocol Guild Pilot: Moloch DAO shall direct 500 WETH (~ ⅓ of its treasury) to Protocol Guild, to support the Ethereum core protocol contributors developing the scaling, security, and sustainability initiatives key to Ethereum’s long term success. If approved, this would be a significant operational and philosophical shift. Historically, Moloch DAO (and most DAOs) have given smaller grants to projects with specific deliverables. However, this proposal is seen as a way to achieve Moloch DAO’s original goals of supporting the Merge and scaling, while also requiring less day-to-day input from DAO members.
Governance
Aave
Active proposals
Closed proposals
- Aave V3 Harmony — Freeze Reserves
- UI/UX upgrade governance framework
- ARC: Add support for LUSD (Liquity)
- ARC: Add 1INCH as collateral
- Add Reserve Rights (RSR) as a borrowable asset
- Enable agEUR as a collateral in isolation mode on V3 on Polygon
On-chain votes
- Aave <> Starknet — Phase I (Part 2)
- Sigma Prime — Security Assessment Services for Aave
- Strategic Investment Part 1 — BAL <> AAVE Token Swap
- Bounty to Hacxyk for fallback oracle misconfiguration
New and ongoing discussions
- Delegation Introduction: Lucas Vogelsang (lucasvo.eth) | An introduction from the confounder of Centrifuge expressing interest in being a delegate in Aave governance
- Certora Continuous Formal Verification Report June 2022 | Updates from Certora including verification of governance crosschain bridges, community verification of AStETH, and how to learn about their latest grant announcements
- ARC: Add WOO as a collateral & borrow asset
- ARC: Add TORN (Tornado Cash DAO Token)
- Penn Blockchain Delegate Platform | An overview of the student run Penn Blockchain DAO and a running thread of their opinions on different governance proposals and votes
- Risk-Off Framework for the Aave Protocol
- Harmony Horizon bridge exploit. Consequences to Aave V3 Harmony
- Proposal: Add support for rETH Token | Parameter recommendations suggested by Gauntlet
- RFC. Aave Governance. Adjust Level 2 requirements (long-executor)
- Proposal: Aave Risk DAO | An update from monet-supply and a request for anyone interested in leading a community risk management team to come forward
Latest governance topics on governance forum.
Akropolis
There were no active proposals these weeks.
Latest governance topics on governance forum.
API3 DAO
Recent blog posts
API3 DAO Tracker: API3 DAO currently involves 5,245 members participated in 38 votings.
- [Secondary Proposal 33] ChainAPI, July 2022 — March 2023
- [Secondary Proposal 28] Operations Team Proposal, May-July 2022 (Cycle 7)
New and ongoing discussions
Latest governance topics on governance forum.
Community Call — July 14th:
Protocol deep dive w/ thefett — API3:
Badger DAO
There were no active Badger Improvement Proposals (BIPs) these weeks.
New and ongoing discussions: Badger Discord
To read more about the different proposals and take part in the decision, check out the governance forum.
Office Hours — Governance 2.0–07.15.22:
Balancer
Recent blog posts and news
Closed proposals
- [BIP-28] Kill CREAM/WETH Gauge
- [BIP-27] Enable DIGG/wBTC/graviAURA 40/40/20 Gauge [Ethereum]
- [BIP-26] Enable MAGIC/USDC Gauge [Arbitrum]
- [BIP-8] Enable TetuBAL/20WETH-80BAL Gauge [second vote]
Discussions
- [BIP-XX] Authorize the Batch Relayer v3
- [BIP-XX] Purge Unused Gauges
- Orb Marketing Budget Proposal for the Remainder of Q3.
- Funding Proposal for Daoism Systems: PROTOCOL REVENUE SHARING FOR POOL & FACTORY CREATORS
Latest governance topics on governance forum.
Fernando Martinelli : Building on Balancer protocol:
Bancor
Recent blog posts and news
Closed proposals
- Proposal: Set the V3 Vortex to 90%
- Proposal: Approve BAND, SAO, JRT, SRM, CEL, KNC and RUNE pools with funding limit of 0 in V3
- Proposal: Temporary Reduction in ICHI’s Liquidity Threshold
- Proposal: Route the vortex burner through the V3 pool
- Proposal: Allow the Bancor protocol to grow TKN trading liquidity via an external trigger
New and ongoing discussions
- Feedback Request: Potential Direction for Recovery
- Bancor Repatriation Act
- Implement trading pause feature on TKN pools
- Turn the deficit into tokenized — Vested ILP, claimable based on Time and Protocol Health
- Migration from V2.1 to V3 requirement for withdrawals
- Bancor DAO Treasury
- Feedback Request: Bancor V3 Vortex — Burn The Collected BNT or Wait
- Stop Burning vBNT — burn BNT
To read more about the different proposals and take part in the decision, check out the forum.
Compound
Getty Hill says goodbye to Compound: This proposal, put forward by Getty Hill (co-founder of GFX Labs), ends Getty’s contributor grant at Compound. Getty was the first person to receive regular COMP payments at the protocol level. He joined Compound in the early days of V1, and reflected in a post in the forums about his own growth:
“I remember when COMP was introduced and the idea of protocol governance. Up until then, I just sat in Discord. COMP and Governor Alpha allowed me to take an active role in improving the protocol.”
He eventually put forward his first proposal: “I was amazed that someone with such limited credentials could make such a massive change, and that became my catalyst to continue to work in protocol governance.” He has since been responsible, among many other things, for adding AAVE, SUSHI, YFI, and MKR to the protocol. As one person in the forum thread wrote, Getty has been “a pivotal player in governance here, a true role model for protocol community members.” [proposal: 100% voted for / discussion]
Closed proposals
- 113 End Getty’s Contributor Grant [executed]
- 112 Return Accidentally Sent Funds #3 [executed]
New and ongoing discussions
- CGP 2.0 — Delegated Domain Allocation by Questbook
- Goodbye and Thank You
- Compound Risk Parameter Updates 2022–07–13
- Compound Developer Community Call — July 13, 9:30am PT
- Compound III
Latest governance topics on governance forum.
Curve
New and ongoing discussions
- A Revised Proposal to Whitelist Kallisto’s Automated Vault Contract
- Proposal to Whitelist Redacted’s Treasury Multisig Contract
- Proposal to remove tBTCv1 gauge
To read more about the different proposals and take part in the decision, check out the forum. Vote here.
Gitcoin
Recent blog posts and news
- Quadratic Funding = Wisdom of the Crowds
- GitcoinDAO begins executing its treasury diversification efforts. The DAO has passed a proposal whereby $3M of GTC will be swapped for USDC. By diversifying its DAO treasury, Gitcoin looks to become more resilient to current market conditions and help its overall operating needs.
Active proposals
Closed proposals
- Ratify the Results of Grants Round 14 and Formally Request the Community Multisig to Payout Matching Allocations
- Gitcoin $3 Million Treasury Diversification
New and ongoing discussions
- [S15 Proposal] — Gitcoin Product Collective Workstream Proposal & Budget Request
- Introducing Steward Health Cards 2.0
- Schelling Point Event Workstream Setup Proposal
- Upgrading the Gitcoin Governance Contracts
- Improve GTC Liquidity with Tokemak
- Carbon Neutral Policy at Gitcoin
To read more about the different proposals and take part in the decision, check out the governance forum.
DAOVibes Call — July 20th:
Gnosis
Closed proposals
- GIP-55: Should GnosisDAO fund Dark Forest DAO for Arena game mode on Gnosis Optimism?
- GIP-58: Karpatkey DAO Service Extension
- GIP-57: Should Gnosis DAO support research of a zkSNARK-enabled light client and bridge?
- GIP-54: Should GnosisDAO support hosting and feature updates for Blockscout Explorer?
New and ongoing discussions
- GIP-59: Should GnosisDAO fund Circles UBI R&D work?
- GIP-58: Karpatkey DAO Service Extension
- GIP-57: Should Gnosis DAO support research of a zkSNARK-enabled light client and bridge?
- Should GnosisDAO invest in Hydra Ventures DAO?
Find out the latest GnosisDAO proposals here.
Idle
Recent blog posts
Closed proposals
New and ongoing discussions
- [Gauges] — Proposal to add Euler agEUR Senior tranche
- [Gauges] — Proposal to add Euler Senior PYTs
- Bootstrap veToken Finance locker for IDLE
- Fee sharing distribution and Performance fee update
To read more about the different proposals and take part in the decision, check out the governance forum.
Index Coop
Closed proposals
- IIP-161: Reduce MNYe Fees
- IIP-160: MVI Revised Fee Split
- IIP-159: Update Operations and Investment Account Account Signers
New and ongoing discussions
- IIP-161: Reduce MNYe Fees
- IIP-XY: Season 2 Budget
- ETH2x-FLI Parameter Update #11
- IIP — : Delegate 100% of Compound Meta-Governance Votes to Wildfire DAO
Find latest Index Coop proposals here.
To read more about the different proposals and take part in the decision, check out the governance forum.
Scalara — DeFi Resilience in the Bear:
Kleros
There were no active KIPs these weeks.
Discussions
- KIP-52 Court proposal: Corte General en Español (Spanish General Court, for xDai chain)
- KIP-51 PNK Airdrop to PoH users
To read more about the different proposals and take part in the decision, check out the governance forum.
Kleros Fast Bridge Presentation:
KyberDAO
Recent blog posts
- Congratulations KyberSwap Trading Contest Winners!
- KyberSwap Launches Integration with Optimism: low-cost and lightning-fast Ethereum L2 blockchain
There were no active proposals these weeks.
Find out all proposals here. Check them out on GitHub.
Lido
Recent blog posts
- Lido’s stETH Comes To L2
- Lido has begun discussing selling its native token to help cover operational expenses. The DAO is looking to sell 20 million LDO tokens to venture capital firm Dragonfly Capital and other partners. The deal provides the DAO with $29m in DAI, helping secure runway and valuable strategic partners. Current forum sentiment seems mixed with amendments likely before it comes to a vote.
Active proposals
Closed proposals
- Should the Lido DAO add the 5 shortlisted Solana operators to the Lido on Solana operator set?
- Redirecting incoming revenue stream from insurance fund to DAO treasury
New and ongoing discussions
- Treasury Diversification #2
- Lido Referral Program on Solana
- Redirecting incoming revenue stream from insurance fund to DAO treasury
- EasyTrack limits and budgets: architecture design record
To read more about the different proposals and take part in the decision, check out the governance forum.
MakerDAO
Active Polls
- Ratification Poll for Governance Facilitator Onboarding GOV-001 (MIP41c4-SP37) [ending Jul 25]
- Community Greenlight Poll — bIBTA (Backed Finance Short-Term Bond ETF) [ending Aug 1]
Ended Polls
- Add RWA-008 (OFH) as a new Vault Type [ended Jul 14]
- Oh no, this should not be here [ended Jul 10]
Executive
- MOMC Parameter Changes — July 13, 2022 [executed Jul 16]
New and ongoing discussions
- Increasing MIP Efficiency Community Poll 2
- Anti-inflationary Proposal 1
- Auction-backed DAI
- IAM for Surplus Buffer
- Proposal Ideas on the Forum
- [Pre-MIP] Using Gyroscope to cut through Dai’s Gordian knot: its USDC dependency
- An RWA style solution to replace the PSM 1
and many more!
Read more about the different proposals and take part in the decision.
Governance Portal, Governance Forum
Governance and Risk | Ep. 199:
Open Decentralized Voter Committee | July 12, 2022:
mStable
Closed proposals
New and ongoing discussions
- Call for Applications — TreasuryDAO Signer Election (H2 2022)
- Call for Applications — ProtocolDAO Signer Election (H2 2022)
- TDP 47: mStable Restructure — Compensation Model & subDAO Funding Request Framework
- [Temperature check] Emissions controller
To read more about the different proposals and take part in the decision, check out the governance forum.
mStable Governance Call July 2022:
Nexus Mutual
Active proposals
- Should the mutual withdraw our Nexus Treasury deposit of wNXM from Bancor v3?
- Should we reimburse Risk Assessors for undue loss from Claim 113?
Discussions
- Proposal: Allocate ETH to StakeWise
- Update: Reimburse Risk Assessors for Undue Loss from Claim 113
- Withdraw the Community Fund capital from Bancor
- Proposal: Nexus Covered Vaults (Discovery Phase)
Vote on governance proposals to decide the future of the protocol here.
To read more about the different proposals and take part in the decision, check out the governance forum.
Pie DAO
Recent blog posts
Closed proposals
New and ongoing discussions
- Proposal: Add $APE to PLAY Pie
- [PIP-65] Staking rewards compounding to veDOUGH
- [PIP-70bis] New DEFI Index
- [Gate 1] ETH LATAM Meetup
To read more about the different proposals and take part in the decision, check out the governance forum.
PieDAO Bites #4 | 19th July 2022:
PoolTogether
Recent blog posts
- A Pooler’s Guide to Optimism
- PoolTogether Community Podcast #30 with Anne and Charles from Project Galaxy
- PoolTogether Community Podcast #29 with Links from Bankless
- PoolTogether, Zeta Markets and Crypto in Turkey
There were no active proposals these weeks.
New and ongoing discussions
- Coordinape Q3 2022
- Code of Conduct
- Executive-Team Renewal
- Continuing Coordinape
- Prize Network Press Release & FAQ
- Extend Ethereum POOL Pool Emissions
- Draw Frequency
- TVL goal
- Arbitrum
- Our primary metric and DAO vs Protocol
To read more about the different proposals and take part in the decision, check out the governance forum.
Synthetix
Recent blog posts and news
Active
- P2E Game HEROES BATTLE ARENA Raising 50K
- SCCP-300: Set council minimumActiveMembers to n-1
- SCCP-217: Lower Atomic Twap Window
Closed proposals
- SCCP-216: Raising the target c-ratio to 400% and decreasing liquidation ratio to 145%
- SIP-229: Optimism Bridge for Synths
- SIP-257: Debt-ratio futures market
- SIP-258: Trade Directionality In Pricing of Atomic Swaps
- SIP-250: Create XMR-PERP
- SIP-249: Create BNB-PERP
- SIP-248: Create DOGE-PERP
- SCCP-215: Lower `minKeeperFee` to 1 sUSD
- SCCP-214: Update Fees on Silver Futures
- SIP-252: Liquidation of SNX Escrow
- SCCP-212: Raise the skew scale
- SCCP-213: Change Oracle Source To 30BP wETH/USDC
- SCCP-211: Increase target staking ratio and lower adjustments and decay rate
- SCCP-210: Improve Pricing of Atomic Swaps
- SCCP-300: Set council minimumActiveMembers to n-1
- SCCP-206: Update LUSD Wrapper Parameters
- SCCP-207: Lower target c-ratio to 300%
- SCCP-208: Lower target staking ratio
To read more about the different proposals and take part in the decision, check out the governance forum.
Uniswap
Uniswap continues exploring a fee switch: A new proposal at Uniswap continues a long history of fee switch discussions and debates. The proposal suggests activating the fee switch for two of its largest pools: USDC/ETH & USDC/USDT. This limited rollout allows the protocol to analyze and see potential impact quickly. The topic of a fee switch has been met with strong pushback before and looks to clear more hurdles this time around.
Closed proposals
- Temp Check: “Fee switch” activation for ETH/USDC & USDC/USDT
- Should Uniswap provide Rage Trade with an additional use grant?
- Optimism 1bp Fee Tier
New and ongoing discussions
- Update Uniswap v3.0 to accept rebase tokens
- “Fee Switch” Design Space & Next Steps
- RFC: Uniswap Universal Governance Module
- Deploy a 1bp fee tier to UniswapV3 on Optimism
- [Governance Proposal] Deploy Uniswap v3 on Celo
To read more about the different proposals and take part in the decision, check out the governance forum.
Yam Finance
Yam Finance governance attacked: An attacker attempted to siphon $3M from the Yam Finance DAO Treasury. The attacker slipped a governance proposal through without anyone noticing that would have granted them access to the DAOs treasury. The attack vector was detected and the proposal was canceled before an exploit could occur.
Active proposals
Closed proposals
- Yam Core Development (Planning) and Infrastructure
- Yam Treasury Management and Maintenance Framework Silo — Requirements Doc
New and ongoing discussions
- YIP-110 Treasury Redemption re-Vote
- Reconsidering the Treasury Strategy
- Requirements Doc — Yam Treasury Management and Maintenance Framework
Check out the latest YIPs discussions here.
Yearn Finance
There were no active proposals these weeks.
Check out the latest YIPs discussions here.
MISC
Radicle // Gitcoin Public Goods Alliance: This proposal seeks to formally establish an alliance between two DAOs long committed to supporting public goods. By exchanging a significant amount of tokens (500K GTC and an equivalent amount of RAD, vested for two years), each DAO takes on an influential governance role in the other DAO (diversifying both governance communities). This will allow the DAOs to more formally “collaborate on shared visions” and “develop synergistic features and products” while modeling how such an alliance could work for other DAOs. The proposal includes the description of a committee that would be responsible for coordination and liaising, and details reporting, criteria for success, ragequit scenarios, and compensation. The entire process is facilitated by Llama (an organization that helps DAOs create economic infrastructure). A nearly identical proposal was ratified by the Gitcoin community on June 20th. [proposal: 100% voting for/ discussion]
SuperRare: Swap Tokens Between SuperRareDAO and BottoDAO: More than a simple token swap, this proposal sought to stimulate alignment and collaboration between two DAOs at the forefront of decentralized curation — one of which (Botto) oversees the development of a decentralized autonomous artist (DAA). “Botto works in collaboration with a community of stewards who vote on its generated imagery to decide what is art. This community of stewards is collectively known as BottoDAO.” Botto has been an artist on SuperRare since the early days and is among the all-time top ten artists on the platform. The token swap enables the SuperRare DAO to use $BOTTO to participate in Botto’s governance, in effect allowing $RARE holders to influence the creations of the DAA. BottoDAO in turn can use $RARE to vote in Space Races “to build out curation of related AI art projects.” The specifics of the exchange, its mechanics, and a fuller representation of its benefits are detailed in the proposal. There was one objection in the forum discussion: Does this proposal in effect show favoritism for a single artist? This question goes to the very nature of what BottoDAO is (and isn’t), and what decentralized curation entails. [proposal: 88.3% voted yes / discussion]
CityDAO: Acquire Baby Parcel for NFT Leases: The purpose of this proposal is to obtain approval to buy a small, affordable piece of land (under $9,999, in Colorado) to concretely play out experiments with NFT leases to CityDAO citizens. This would help lay the groundwork for what is imagined with the Big Parcel (see July 7 newsletter), among other projects. “We view this as the training wheels for learning how to ride the Big Parcel bike with NFT leases, land purchases outside of Wyoming, and more.” The DAO could purchase a five-acre piece of land, which could then be subdivided into 10 half-acre parcels NFTs that each represent certain rights (which could vary between parcels/NFTs). This gives the DAO a project that is achievable over the short term and which will inform future experiments with larger and more complicated properties. The proposal presents the associated costs as a kind of “tuition”: “For a legitimately minimal expense, CityDAO can find out what does — and does not — work with respect to creating a land token standard and using NFTs to allocate property rights.” [proposal: 96.75 voted for / discussion]
Alchemix: Set rETH and stETH Deposit Caps to Zero: Staked ETH depegging requires platform to reduce risk of losses. Alchemix Finance is a platform that makes it possible for users to “get advances on their yield farming via a synthetic token.” The recent volatility of staked ETH, which at the time of this proposal’s writing had lost its peg with ETH (0.970:1), led the Alchemix DAO to consider whether to prevent future deposits of rETH and stETH. While Alchemix stETH vault functionality is operational, any users who want to withdraw or harvest will realize the market discount (if de-pegging continues), reducing the vault APR. And, due to differences in how rETH is managed, withdrawing or harvesting from the rETH vault in Alchemix is not currently possible (a solution for this is included in the proposal). Additionally, arbitrage could push down the value of alETH, Alchemix’s synthetic token. The proposal aims to contain losses on these fronts by setting deposit limits to zero. [proposal: 97.44% voted for / discussion]
FWB: Leadership Vision + Results: A call for vision, transparency, and accountability from the leaders. This proposal asks Friends with Benefits leadership to provide a clarity of vision believed to be currently lacking:
“FWB’s runway is limited, and our path to long-term viability is unclear to members. While operating in a centralized way (relying on a core, salaried team for day to day operations and strategic direction) has advantages, this also means that the core team needs to ensure that holders of the token have a faith in the vision leadership sets forth and clarity on the steps being taken to achieve long-term goals.”
The proposed solution is for DAO leaders to present within 60 days a long-term vision for FWB together with expected objectives and key results for each salaried member (or group) over the next 12 months, detailing the steps necessary to achieve desired outcomes. The FWB community should also receive quarterly updates on progress towards the OKRs, along with notification of any changes called for in the twelve-month plan. As the proposer argues, “increased transparency will result in increased community buy-in, increased mutual accountability, and is critical to the continued success of FWB.” [ proposal: 100% voting yes]
- Gnosis Safe raises $100M, rebrands to Safe: Gnosis Safe has raised $100M from investors including 1kx, Coinbase Ventures, Tiger Global, and more. The company also rebranded itself to ‘Safe’, dropping the Gnosis name. The project previously voted to spin off Gnosis and form what is now SafeDAO. Funds from the round will help grow its ecosystem of applications and tools:
- JokeDAO officially launches w/ bottom-up, on-chain governance:
- The Metagovernance Project has studied a bunch of DAO constitutions and come up with five recommendations:
- ENS DAO’s proposal for funding True Names Ltd approved:
- A StarkNet Token is coming: The Layer 2 scaling solution has announced plans to launch its native token. The token will be used for governance, payment of transaction fees, and staking. A total of 10 billion tokens have been minted and allocated to investors and core contributors. The token will go live later this year:
- Snapshot adds Shielded Voting: The staple governance tool is launching a feature that protects DAO governance votes. Snapshot and Shutter Network have teamed up to bring an encrypted shielded vote mechanism to the platform. Governance votes on the voting platform will be protected and hidden with encryption until voting has concluded to prevent voter apathy, collusion, and general bad behavior:
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