DAOs: ENS chooses Karpatkey as fund manager, Optimism introduces Grants Council for Season 3, Aragon presents BatRaVot, Cosmos rejects ATOM 2.0, Curve publishes whitepaper and code for stablecoin, Mango hacker fails to exploit Aave, Compound’s CIP-1 approved, and more!
Biweekly report on decentralized autonomous organizations vol.36, 11th November — 25th November
TL;DR
- Aragon ZK team presented their research developing BatRaVot (Batched Ratified Voting), which is a new voting framework for off-chain voting with on-chain execution. Updating Aragon’s DEX Strategy proposal is under discussion
- Aave freezes REN market because of its FTX exposure. Gauntlet <> Aave Renewal proposal failed. Strategy on sunset of Aave v1 proposal active. Furthermore, Mango hacker fails to exploit Aave.
- In response to current market conditions, Maker governance executed several parameter changes. Furthermore, MakerDAO Governance voted to offboard the RENBTC-A vault type
- Compound’s vote to adopt CIP-1 as the foundational process for Compound Improvement Proposals approved. Proposal 134 failed
- Curve publishes whitepaper and code for stablecoin
- GnosisDAO’s GIP-71 (Should GnosisDAO support hosted Blockscout explorer for Chiado testnet?) passed on Snapshot
- Gitcoin expands governance participation to long-term partners
- Balancer’s BIPs 108–110 passed, 111 &112 failed
- Index Coop’s IIP 169: Purchase MVI from Metaportal proposal approved
- PieDAO’s [Gate 1] Auxo Migration proposal passed. Treasury DOUGH burning proposal is live on the forum
- IdleDAO’s [IIP-27] & [IIP-28] approved
- The Nexus Mutual’s members pay 1.04M+ for Hodlnaut claims
- Badger DAO’s BIP 99 approved
- Synthetix SIPs for Perps V2 (279, 280, 281, 285) are being reviewed by the auditors. SIP-288 released, adding 1inch exchange contracts to the Direct Integration Manager
- Uniswap’s [RFC] Community governance process changes. Uniswap Foundation Grants Wish List is out
- Yam’s Redemption Proposal passed option 1: Open redemption forever only
- Yearn’s Activate veYFI proposal is live on the forum
- CFTC pushes back against amicus briefs in Ooki DAO lawsuit
- Cosmos fails to pass ATOM2.0 Whitepaper
- Optimism introduces a Grants Council for Season 3
- Osmosis debates Grant Program renewal
- ENS selects Karpatkey DAO to manage its endowment fund
- Solana liquidity hub Serum forked after possible compromise in FTX hack
- FWB: Update to FWB Mission, Vision, Strategy, and Principles proposal approved
- Krause House: Core Team Funding proposal passed
- SafeDAO has responded to the FTX collapse by voting against enabling transferability of SAFE
- dYdX votes to launch an operations subDAO
- Redacted votes to extend its DAO operations budget
- BanklessDAO’s DAOStewards funding proposal
- GMX <> Redacted partnership proposal
- Polkadot Referendum 86 passed unanimously. Polkadot’s new governance system is live on Kusama
- ApeCoin DAO launches community-driven NFT marketplace
- Decentraland DAO considers pausing grants as FTX collapse spotlights diversification
- Active proposals: Aave, Index Coop, MakerDAO, Synthetix, Uniswap
- New & ongoing discussions: Balancer, GitcoinDAO, PieDAO, Compound, mStable, Yam Finance, Curve, Yearn Finance, Nexus Mutual, LidoDAO, BancorDAO, Akropolis, GnosisDAO, PoolTogether, API3, Idle, KyberDAO, Kleros, Badger DAO
- Podcasts on DAOs
- 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.
Read & Listen
- DAO Legal Reforms in Spotlight as UK Law Commission Seeks Views from CoinDesk
- CFTC reply to the Ooki DAO amicus briefs
- ENS Delegators can review their year of governance + free redelegation until EOY
- Governance Attack Vectors from StableNode
- On-chain vs Off-chain Governance from StableNode
- Governor Note: The Future of dYdX DAO by Ryan Holloway
- Analyzing DAO Treasuries from Bankless Publishing
- Decentralization by Packy McCormick
- Computer-Aided Governance in Action: Steering Complex Systems Using the CAG Map from BlockScience
- SAFE Governance Stats from Flipside Crypto
- This Billion-Dollar Crypto Collective Is Tearing Itself Apart from Wired Magazine
- Gitcoin expands governance participation to long-term partners from Gitcoin
- Let’s Revamp Tokenomics to Make DeFi More Useful and Valuable from The Defiant
- Uniswap: Community Governance Process Changes by Devin Walsh
- Aave: Reducing Long Tail Asset Risk by Monetsupply
- A call to Build Smarter Self-Custody from Safe
- Taking A Long-Term View of Web3 from Haun Ventures
- Aave Grants Retrospective from Sovereign Signal
- Nouns Agora by 0xThanos
- Osmosis Grants Program: V2 Updates
- Introducing the Party Protocol
Listen
- How to Grow DAOs Organically w/ Mika Honkasalo & Shreyas Hariharan on Bell Curve
- Nick Cannon @ Gauntlet Network & Aera Finance on DAO Talk
- Coordination Mechanisms w/ Griff Green on Green Pill Podcast
- The Ultimate Use Case for DAOs w/Aaron Soskin on Rehash Podcast
- Genesis of SafeDAO on DAO Governance Education Sessions
- Govrn, Governance & Autonomy w/ Aaron Soskin & Stefen Delev on Coordination Frontiers
- The Cosmos Network, Collaborative Finance (Co-Fi), and the Empowerment of Monetary Localism w/ Ethan Buchman on The Ownership Economy
- Will Venture DAOs Replace VCs? w/ Will Papper on Bear is For Builders
- Business Governance-Fit Deep Dive w/ Hasu & Chris Ahn on Bell Curve Podcast
- What Lessons DAOs Can Learn from Corporate Governance w/ Larry Sukernik & Derek Hsue on Bell Curve Podcast
- DAOs After Lifestyle w/ Toby Shorin on Building At The Edges
- Reputation and Compensation in DAOs w/ Tracheopteryx on DAO or Never
Frameworks
Aragon
There were no live votes these weeks.
Proposals
Updating Aragon’s DEX Strategy: Due to recent market conditions, it is relevant for Aragon to become more independent and increase the DEX liquidity position of ANT. Aragon should control its own liquidity, rather than relying on centralized liquidity providers.
- The AA Finance team proposes to update the outdated Aragon DEX strategy by updating the current Balancer pools.
- The objective of this proposal is to have at least 4% of ANT trading executed on DEXs.
- The finance team seeks to test the hypothesis that increased liquidity will lead to increased use of DEXs that support Aragon’s vision.
Rules: technical deployment and legal wrappers: The default governance model is intentionally minimal to foster experimentation on the social layer and to give teams as much autonomy as possible to deliver impact.
- Basics of submitting proposals, voting, and the veto option for security.
- The charter will be a plain English translation of the technical deployment and legal wrappers, prioritizing technical accuracy and accessibility.
- Legal wrappers still a work in progress
- Add questions as a comment in the forum.
Other discussions
How to Install a Metamask Wallet on Aragon:
Moloch
Active proposals
- Legal Aid for Builders
- Grant Proposal — Community Health Analytics (project by RnDAO)
- Privacy preserving wallet on Ethereum
- Grant Proposal — Sporos DAO
Closed proposals
Discussions
- Grant Proposal: Pixel Pooly | Public Goods Crowdsourcing Platform
- Grant Proposal — clu3
- FeNXT NFT Marketplace
- Grant Proposal | Cheq Protocol — An extensible liquid escrow protocol for web3 payments
Governance
Aave
Recent blog posts and news
- Llama shared October Financials for the Aave protocol
- Latest Aave Weekly Metrics from Messari
- Aave freezes REN market because of its FTX exposure
- An update from BGD Labs on Aave v3 timeline
- Reducing Long Tail Asset Risk by Monetsupply
Mango Hacker Fails to Exploit Aave: A short squeeze was attempted on Aave v2 this week by the same hacker who exploited Mango Markets. The attempted exploitation centered around a short squeeze of the CRV token. Fortunately for Aave, the hacker was unable to profit from the trade. Around the time of the exploit, Curve published their highly anticipated stablecoin whitepaper and codebase which caused the CRV token to rise rapidly ending their chances of a profit. However, there was fallout from the failed trade as a $1.6M USD bad debt position was created for the protocol. This meant that Aave had to find a way to pay back the accumulated debt as they were on the hook. On Tuesday afternoon, Gauntlet posted a risk parameter change proposal to immediately freeze 17 markets in wake of the attempted exploit. The rest of Aave’s service providers have also chimed in as the DAO mobilizes to unwind the bad debt and secure the protocol. Llama has stepped in with their own proposal to disable borrowing on only a select few markets. A separate proposal co-authored by Llama and Gauntlet was also published that provides a plan to repay the ~1.6M USD in bad debt accumulated during the failed exploit. In this proposal, Gauntlet will pay down the debt from its insolvency refund per their service agreement and the Aave Treasury will cover the rest. The Aave community currently finds itself debating exactly which markets pose the most risk as it searches for a long-term solution.
Strategy on sunset of Aave v1: This proposal seeks to gather community consensus on how to best sunset Aave v1. The DeFi lending protocol has been discussing how to sunset its previous edition called Aave v1, as newer versions (v2 & v3) have rendered it obsolete. Here, BGD Labs, author a proposal that offers three options on how to best proceed. Option 1 has them disabling and freezing the version. Option 2 has them disabling variable borrowing. And the final option is to do nothing and wait for everybody to exit with no entering. [99% voting ‘Freeze v1s (no supply/borrow)’/ discussion]
Gauntlet <> Aave Renewal: This proposal is to extend Gauntlet’s work at Aave for an additional 12 months. For the past two years, the risk management platform has worked closely with Aave and now looks to continue its relationship. In the proposal, the firm explains its focus will center on managing market risk and optimizing capital efficiency. This proposal would renew their current engagement with Aave until Dec 4th, 2023, and includes an estimated compensation package of ~$2.4M. Approval of this snapshot vote will be followed by an on-chain vote. [99% voting ‘YAE’/ discussion]
Active proposals
- [ARC] Aave V3 Ethereum Deployment: Assets and Configurations Part 1
- [Temp Check] Add Support for cbETH for Aave V3
- Risk Parameter Updates for Aave V3 AVAX 2022–11–23
- [ARC] V3 Supply Cap Recommendations for Uncapped Assets (Fast-track)
Closed proposals
- [ARC] stMATIC & MaticX Emission_Admin for Polygon v3 Liquidity Pool
- [ARC] ETH Interest Rate Curve Update
- [ARC] SD Emission_Admin for Polygon v3 Liquidity Pool
- [ARC] LDO Emission_Admin for Polygon v3 Liquidity Pool
- Strategy on sunset of Aave v1
- [ARC] Risk Parameter Updates for Aave V2 ETH 2022–11–17
- [ARC] Gauntlet <> Aave Renewal
New and ongoing discussions
- [ARC] Risk Parameter Recommendations for Aave V2 ETH (2022–11–22)
- [ARC] Repay excess debt in CRV market for Aave V2 ETH
- Updated Proposal: Chaos Labs — Risk & Simulation Platform
- Discussion: Reducing Long Tail Asset Risk
- Harmony Horizon bridge exploit. Consequences to Aave V3 Harmony
Latest governance topics on governance forum.
API3 DAO
API3 DAO Tracker: API3 DAO currently involves 6,158 members participated in 56 votings.
Pending proposals
- CORRECTED API3 DAO Operations Proposal Nov 2022 — Jan 2023
- Core Technical Team Proposal, November 2022February 2023
- API LatAm Team, Nov 2022 — Jan 2023
- Audience Research & Communications
- Ecosystem Development & Advocacy cycle #2: Nov 2022 — Feb 2023
Discussions
- [Secondary Proposal] — Research & Communications (previously Marketing Cycle 9)
- [Secondary Proposal Draft] API3 DAO Marketing Proposal Cycle #9
- [Secondary proposal] Proposal Cycle #2: Ecosystem development & advocacy — Nov 2022 — Feb 2023
- [Secondary Proposal] API LatAm Team, Nov-Jan 2023 (Cycle 3)
- [Secondary proposal draft] byog proposal, November 2022
- [Secondary Proposal 48] Core Technical Team, November 2022–February 2023
- [Secondary Proposal Draft[ API3 DAO Operations Proposal Cycle #9
- [Secondary Proposal draft] Core Technical Team, November 2022–February 2023
- Should we shut down the university governance program?
Latest governance topics on governance forum.
Quick Flip Polygon Ep. 4 | Oracle Extracted Value with API3 | Gains Network | What is Plonky2?
Badger DAO
Closed proposals
New and ongoing discussions: Badger Discord
To read more about the different proposals and take part in the decision, check out the governance forum.
Badger: Give your organization its keys to Web3
Balancer
Recent blog posts and news
- Balancer Relayers and Pool Migrations
- Distribute Your ERC20 Token with Liquidity Bootstrapping Pools
- High Capital Efficiency with Boosted Pools
- Cheaper Arbitrage with Batch Swaps
- Capitalizing on Balancer’s Flash Loans
Closed proposals
- [BIP-112] Adjust Balancer Snapshot for Aura AIP-17
- [BIP-111] Index Coop x Balancer DAO Partnership
- [BIP-110] Enable T/WETH 80/20 Gauge w/2% emissions cap [Ethereum]
- [BIP-109] Whitelist Aragon Gnosis Safe for Balancer’s VotingEscrow
- [BIP-108] Enable SD/MaticX 80/20 Gauge with 2% emissions cap (Polygon)
Discussions
- BIP-[XXX] Cap veBAL wrapper stableswap pools at 5% of emissions each
- [BIP-XXX] Adjust Balancer Snapshot for AIP-17
- BIP-[XXX] Aura Multisig Blacklisting for Governance
- [BIP-XXX] General guidelines on second voting
- [BIP-XXX] Cleanup Unused Gauges
Latest governance topics on governance forum.
Bancor
Closed proposals
New and ongoing discussions
- Proposal: Give 48 More Hours For Migration to v3
- Migrate POL from v2.1 to v3
- Almanak x V3 — Optimization Recommendations
- Proposal: Improved Value Capture and Fast Lane POC
- Proposal: Weight BNT/TKN according to R value
- Proposal: Limit on-curve liquidity to max(520 x 7 day fees, 100k BNT)
To read more about the different proposals and take part in the decision, check out the forum.
Bancor Community Call — Nov 20:
Compound
CIP-1: Compound Improvement Proposal Adoption: This proposal looks to implement an Improvement Proposal Process to the Compound protocol. IP is a popular governance process used by various protocols to streamline and structure their governance. Compound Improvement Proposals describe standards, processes, and enhancements intended to improve the Compound Protocol. There are three types of CIPs: Meta Process, Protocol Enhancement, and Tooling & Support. The proposal illustrates the lifecycle and operating procedure to pass CIPs. [100% voting ‘Yes’/ discussion]
Active proposals
- 135 Borrow Caps for Compound V2 Assets [review]
Closed proposals
New and ongoing discussions
- Risk Parameter Updates 2022–11–23
- Initialize Compound III (WETH on Ethereum)
- CGP 2.0 — Delegated Domain Allocation by Questbook
- Proposal: CompoundExplorer — Social Media
- Penn Blockchain Delegate Platform
Latest governance topics on governance forum.
Curve
- Curve publishes whitepaper and code for stablecoin:
New and ongoing discussions
- Proposal to add the option of “creator fees” in factory pool
- Proposal to add agEUR/EURe on Ethereum to the Gauge Controller
- Proposal to add cUSD/USDC/USDT pool on Celo to the Gauge Controller
- Updated Proposal to add HOME/3CRV to the Gauge Controller
To read more about the different proposals and take part in the decision, check out the forum. Vote here.
Gitcoin
Recent blog posts
Closed proposals
- S16 — MMM Budget Proposal
- S16 — FDD Budget Proposal
- S16 — DAO Operations Budget
- S16 — Public Goods Funding Budget
- S16 — Gitcoin Product Collective Budget
New and ongoing discussions
- [S16 Proposal — INTEGRATED] MMM Budget Request
- What can we learn from BrightID’s Aura Sybil Defense Software?
- V2 of the Steward Council: Nomination thread and election update
- Is Gitcoin over its skis? should we hold spending flat while addressing unavoidable risks?
To read more about the different proposals and take part in the decision, check out the governance forum.
Wormhole Workshop Introduction to xDapps:
Gnosis
Closed proposals
New and ongoing discussions
- GIP-72: Should GnosisDAO fund Common Ground to support onboarding DAOs to the Gnosis Chain Ecosystem?
- GIP-71: Should GnosisDAO support hosted Blockscout explorer for Chiado testnet?
- Should there only be one native GNO token within the Gnosis ecosystem?
Find out the latest GnosisDAO proposals here.
Idle
Closed proposals
New and ongoing discussions
- [IIP-28] Update BY wrapper contracts
- [IIP-27] Clearpool PYTs as a new yield source for BY — Folkvang
- Clearpool PYTs as a new yield source for BY — Folkvang
To read more about the different proposals and take part in the decision, check out the governance forum.
Index Coop
Recent blog posts
- DeFi Is the Answer to the FTX Crisis | 11/23 Newsletter
- Understanding Your icETH Yield
- The Importance of DeFi Structured Products
IIP 169: Purchase MVI from Metaportal: This proposal is to ratify terms between Index Coop and Metaportal to change their existing fee split on MVI. The Metaverse Index is an index product at Index Coop designed to “capture the trend of entertainment, sports, and business shifting to place in virtual environments”. MVI launched back in April 2021 with a 60/40 split between Index and Metaportal. This proposal would pay MetaPortal 65K USDC and restructure the fee split to 100/0, effectively giving Index full ownership of the product. [100% voting ‘For’]
Active proposals
- [Aave Snapshot] Activation of a ParaSwap fee claimer contract
- [Compound-135] Borrow Caps for Compound V2 Assets
- [Uniswap Snapshot] [Temperature Check] Fix the Cross Chain Messaging Bridge on Arbitrum
- [Aave Snapshot] [Temp Check] Add Support for cbETH for Aave V3
Closed proposals
- IIP 169: Purchase MVI from Metaportal
- [Aave Snapshot] Risk Parameter Updates for Aave V3 AVAX 2022–11–23
- [Aave Snapshot] [ARC] V3 Supply Cap Recommendations for Uncapped Assets (Fast-track)
- [Aave Snapshot] [ARC] V3 Supply Cap Recommendations for Uncapped Assets (Fast-track)
- [Aave-123] Pause UNI Borrowing
- [Aave-121] Risk Parameter Updates for Aave V2 ETH Market (2022–11–22)
- [Aave-120] Risk Parameter Updates for Aave V2 (2022–11–17)
- [Uniswap Snapshot] [Consensus Check] Deploy Uniswap V3 to Boba Network
- [Aave Snapshot] [ARC] stMATIC & MaticX Emission_Admin for Polygon v3 Liquidity Pool
- [Aave Snapshot] [ARC] ETH Interest Rate Curve Update
- [Aave Snapshot] [ARC] SD Emission_Admin for Polygon v3 Liquidity Pool
- [Aave Snapshot] [ARC] LDO Emission_Admin for Polygon v3 Liquidity Pool
- [Aave Snapshot] Strategy on sunset of Aave v1
- [Aave Snapshot] Strategy to sunset Aave v1
- [Aave Snapshot] [ARC] Risk Parameter Updates for Aave V2 ETH 2022–11–17
- [Aave Snapshot] [ARC] Aave V3 Ethereum Deployment: Assets and Configurations Part 1
- [Aave Snapshot] ARC: Enable USDT as collateral on Aave V3 (Avalanche)
- [Compound-134] CGP 2.0 by Questbook
- [Aave Snapshot] [ARC] Gauntlet <> Aave Renewal
- [Uniswap Snapshot] [Temperature Check] Deploy Uniswap V3 to Boba Network
- [Uniswap Snapshot] [Temperature Check] Deploy Uniswap V3 to zkSync
- [Aave-119] Risk Parameter Updates for Aave V2 ETH Market (2022–11–13)
- [Aave-118] Risk Parameter Updates for Aave V2 ETH Market (2022–11–13)
- [Aave-117] Risk Parameter Updates for Aave V2 ETH Market (2022–11–12)
- [Aave-116] Add OP to Aave V3 on Optimism
- [Aave-115] Strategic Partnership with Balancer DAO Part 2–100k BAL Acquisition
- [Aave Snapshot] [ARC] — ERC4626 Strategies as Productive Collateral
- [Aave Snapshot] Staked ATokens, A New Aave Primitive Exploring Vote-Escrow Economies
- [Aave Snapshot] Security and Agility of Aave Smart Contracts via Continuous Formal Verification
- [BadgerDAO] BIP 99: Badger Emissions Going Forward
Find latest Index Coop proposals here.
To read more about the different proposals and take part in the decision, check out the governance forum.
Kleros
Discussions
To read more about the different proposals and take part in the decision, check out the governance forum.
How to build in Web3 — Lesson 6 — Partnership Development:
Lido
There were no active votes these weeks.
New and ongoing discussions
- Withdrawals: Automating Lido Validator Exits
- Lido on Ethereum: Relay Voting Proposal
- Discussion Draft — Lido on Ethereum Block Proposer Rewards Policy 2.0
- Lido on Solana — Proposed Transition from Chorus One to P2P
- Compensating security assessment costs for Lido-on-X projects
To read more about the different proposals and take part in the decision, check out the governance forum.
MakerDAO
Active Polls (13 Polls — ending Nov 28)
- Ratification Poll for Immunefi Security Core Unit (IS-001) Facilitator Onboarding (MIP41c4-SP38)
- Budget Ratification Poll for Modify Development and UX Core Unit (DUX-001) Budget (MIP40c3-SP82)
- Ratification Poll for CoinShares Active Treasury Management (MIP86)
- Ratification Poll for OUSD Decentralized Rewards (MIP87)
- Ratification Poll for Modify Immunefi Security Core Unit (IS-001) Mandate (MIP39c2-SP38)
- Budget Ratification Poll for Modify Immunefi Security (IS-001) Budget (MIP40c3-SP83)
- Budget Ratification Poll for Modify Governance Communications Core Unit DAI Budget, COM-001 (MIP40c3-SP84)
- Budget Ratification Poll for Modify Sidestream Auction Services Core Unit DAI Budget, SAS-001 (MIP40c3-SP85)
- Budget Ratification Poll for Modify TechOps Core Unit DAI Budget, TECH-001 (MIP40c3-SP86)
- Ratification Poll for Modify Emulated Surplus Buffer Upper Limit (MIP84c10-SP1)
- Ratification Poll for Monetalis — Redwood Friesian (MIP88)
- Ratification Poll for Monetalis — Arrow Andalusian (MIP89)
- Budget Ratification Poll for Modify the Sustainable Ecosystem Scaling Core Unit DAI Budget, SES-001 (MIP40c3-SP87)
Executive
- Parameter Changes for RWA-007-A (Monetalis Clydesdale), Enable rETH-A DC-IAM, Housekeeping Changes [executed Nov 21]
New and ongoing discussions
- MIP55c3-SP11: Pioneer DeFi-focused language dataset for the benefit of Risk modelling & GovComms
- MIP4c4-SP3: Obsolete MIP Removal (MIP23, MIP28)
- MIP40c3-SP86: Modify TechOps Core Unit DAI Budget
- GFX Labs Delegate Platform
- Llama Delegate Platform
and many more!
Read more about the different proposals and take part in the decision.
Governance and Risk | Ep. 216:
Open Decentralized Voter Committee | Practical Implementation of Endgame Governance:
mStable
Closed proposals
To read more about the different proposals and take part in the decision, check out the governance forum.
Nexus Mutual
Closed proposals
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
Closed proposals
New and ongoing discussions
To read more about the different proposals and take part in the decision, check out the governance forum.
PoolTogether
Recent blog posts
There were no active proposals these weeks.
New and ongoing discussions
- RFC — POOL loans with PWN
- [RFC] TLD domain using punk.domains
- Uniswap V3 Liquidity Mining Rewards
- TBR-Q4–2022 — PT Inc Protocol Team
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 proposals
Closed proposals
- SCCP-247: Update Atomic Exchange Fees / 1inch Integration
- SCCP-246: Update staking liquidation parameters
- SCCP-245: Update SOL perp parameters
- SCCP-244: Increase exchange fees for sSOL
- SCCP-243: Update SOL-PERP
To read more about the different proposals and take part in the decision, check out the governance forum.
Uniswap
Recent blog posts and news
Active proposals
Closed proposals
- [Consensus Check] Deploy Uniswap V3 to Boba Network
- [Temperature Check] Deploy Uniswap V3 to Boba Network
Discussions
- [RFC] Community Governance Process Changes
- [RFC] The Optimism-Uniswap Protocol Liquidity Mining Program
- pUniswap — A privacy layer for Uniswap
- “Fee Switch” Design Space & Next Steps
To read more about the different proposals and take part in the decision, check out the governance forum.
Yearn Finance
Recent blog posts
There were no active proposals these weeks.
Discussions
Check out the latest YIPs discussions here.
MISC
- ENS Chooses Karpatkey as its Endowment Manager: A controversial vote transpired this week at ENS DAO. The naming service community found itself in the middle of a highly contested vote over who would become its inaugural endowment fund manager. EP2.2.5 was the continuation of a previously passed proposal to source and name a manager to steward part of the protocols treasury. In the end, Karpatkey, the DeFi fund management platform, ultimately came out on top as the final hours saw the lead switch back and forth. A total of 3.1M votes were submitted with close to 1,500 ENS voters weighing in on the proposal. In this proposal, ranked-choice voting was implemented to help select a winner from the list of candidates. This style proved to be controversial as members of the community found the use of it complicated during such an important vote. Forum posts and tweets followed as voters posted their voting rationale and lobbied for their side. Even Coinbase, who seldom votes on proposals, found itself weighing in and utilizing all 240K ENS of its voting power to vote ‘None of the above’. The centralized exchange explained their vote was out of an abundance of caution. Voters of ‘None of the above’ mostly voted this way based on concerns about its overall risk exposure, the allocation size for the proposed endowment, and low confidence in the candidates. Next, the meta-gov stewards will work closely with Karpatkey to finalize a proposal to present to the DAO and formalize their relationship. Separately, the same working group is working on proposals that outline the day-to-day treasury operations for the DAO, ensuring there is a sufficient runway in stablecoins, and reducing general exposure to volatility.
- dYdX Votes to Launch an Operations subDAO: On November 21st, the dYdX community successfully voted to approve the formation of a first-of-its-kind Operations subDAO. In the proposal, Reverie authors of the proposal outline launching a so-called ‘Ops Trust’ as a Guernsey Purpose Trust. This legal wrapper would encompass the newly formed subDAO and permit them to utilize and explore various legal options on behalf of dYdX. The Ops Trust will consist of three Trustees and one Enforcer and its focus will center around creating a dYdX DAO playbook, managing communication channels, and accessing traditional fiat payment structures for payments. Reverie Reserves LLC, Joanna Pope, and Callen Van Den Elst will be the three Trustees with George Beall as the lone Enforcer. The proposal outlines a compensation structure that lasts for six months as the project’s initial runway. The proposal requests $372K from the dYdX treasury to cover all costs and compensation over the course of the program with plans to revisit at the conclusion of six months. The next steps for the proposal include creating a multi-sig with the Trustees, drafting the Trust Agreement, and prepping the on-chain vote.
- BanklessDAO: DAOStewards Funding Proposal: This proposal looks to fund the DAOstewards, a new metagovernance workstream at BanklessDAO, with 300K BANK for Season 6. Contributors at bDAO initially created the DAOstewards to consolidate the tokens during SafeDAO’s airdrop, but now seek to expand their function within the DAO. The proposal suggests two workstreams be created, ‘BanklessDAO governance’ and ‘Governing DAOspace’. DAOstewards are to focus on both internal-facing governance within bDAO and meta-governance work on the wider DAO ecosystem. A compensation structure of 100K BANK per stream with an additional 100K BANK paid out to each protocol lead starting with SafeDAO is being proposed. KPIs in the proposal include, ‘number of proposals on bDAO forum’ and ‘number of external proposal voted on’.
- Friends with Benefits: Update to FWB Mission, Vision, Strategy, and Principles: This proposal looks to ratify and update the Friends with Benefits’ vision, mission, core principles, and strategic approaches to help unify the DAO. The proposal states their mission to be the following: “FWB is the social convening point for the individuals, squads, and institutions using decentralized technology to build a better internet. As a community, we aim to push culture forward while elevating and amplifying each other in the process.” Their core principles include collective effort, good neighbors, culture over crypto, open experimentation, civic engagement, give before you get, and have fun. A new FWB season will kick off following the approval and ratification of this vote. [99% voting ‘Approve proposed updated’]
- Krause House: Core Team Funding: This proposal aims to renew the full-time team charter for community members Flex Chapman, Commodore, and Mario Lopes. Krause House currently retains these three members as their sole full-time contributors. The proposal seeks to ratify and extend their work for the next six months. In the proposal, compensation of 40K USDC and 10K KRAUSE is to be paid out monthly for the entire six months. Important to note that the contributors can be fired at any time via a governance proposal. The Krause House DAO treasury currently holds $1.3M with additional plans to narrow the criteria for projects funded, onboarding more full-time contributors, and diversifying the treasury. The proposal also provides a full retrospective of previous work done by the contributors and their biggest lessons. [70% voting ‘For’]
- Selection of an ENS endowment fund manager: This proposal is a follow-up to EP2.2.4, a call to find a fund manager for the upcoming ENS endowment. Here, a shortlist of finalists is being voted on that includes Avantgarde, Karpatkey, and Llama. The ENS Meta-Governance stewards were tasked with sourcing a shortlist of suitable candidates from a larger batch of applications. The winner of this vote will work with the stewards to form a treasury allocation strategy with more proposals expected to follow. [discussion]
- GMX <> Redacted partnership: This proposal looks to solidify a partnership between GMX and Redacted through a $200K OTC treasury swap. In the proposal, $200k GMX is to be exchanged for $200K of BTRFLY based on a 30-day trailing average of both tokens. Redacted will deposit their share of swapped tokens to bootstrap liquidity in the newly created pxGMX/ETH LP. GMX is to lock their swapped tokens for rlBTRFLY. Proposal RIP27 at Redacted previously approved GMX as the next protocol to be integrated at Pirex Protocol, a new product from Redacted that creates liquid wrappers to allow auto-compounding and the tokenization of future yield events.
- Solana liquidity hub Serum to be forked after possible compromise in FTX hack: Following the fallout of FTX, a major Solana DeFi protocol was emergency forked to ensure its survival. On November 12th, Serum a central order book for liquidity providers on Solana was forked by members of its community to ensure the protocol did not go down alongside FTX. Serum relied on a ‘program update key’ for the development and maintenance of the protocol. These keys were not actually controlled by the SRM DAO, the community stewarding the protocol, but by a private key connected to FTX. As a result, a group of prominent community members and developers rushed to fork the DEX. Due to the nature of open-source protocols, the fork of Serum was able to be quickly deployed from the existing code base. Serum is notable for its importance within the Solana DeFi ecosystem as it acts as a liquidity backstop for a number of other protocols. This new forked version is now being managed by a muti-sig controlled by a team of “trusted developers”. Jupiter, Mango Markets, and other DeFi protocols on Solana have announced plans to integrate with the new version of Serum. It is now unclear what will happen with existing SRM tokenholders and its subsequent tokenomics since the fork was described as an emergency temporary fix.
- Osmosis Votes on the Future of its Grants Program: The Osmosis community is currently voting on whether to continue its existing grants program. Originally launched in March 2022, the Osmosis Grants Program was set up to fund community-built tooling and infrastructure on Osmosis. Osmosis is a leading decentralized exchange built on the Cosmos Internet of Blockchains. Reverie, an active service provider helping DAOs grow, spearheaded the launch of the OGP as the Program Lead alongside community-sourced reviewers. Over the course of the program’s first six months of existence, it approved 43 projects and disbursed over $1.9M in total funding. On October 31st, Reverie posted to the Osmosis forums a proposal to renew the OGP with revised updates. Details of the proposal include a full 12-month engagement, compensation of 55K USDC per month & 25k OSMO per month, and the incubation of new subDAOs. The fallout from the grant program renewal proposal has been mixed with some community members requesting more transparency on the decision-making process and the team’s workload. On Tuesday, a disgruntled project that was denied a grant posted to Twitter a tweetstorm alleging misuse of the grants program. Competing proposals have also popped up that look to challenge Reverie on cost, scope, and structure. The terms of the agreement stipulate a governance vote will revisit the terms in six months with the ability to terminate the agreement at any time through a governance proposal. At the time of publication, the proposal is up for a vote and is currently being rejected. Voting ended on November 19th.
- Cosmos Community Rejects ATOM 2.0 White Paper / Cosmos Fails to Pass Atom 2.0 Proposal: On November 14th, Proposal 82 failed to pass a community vote ultimately rejecting the proposed new vision for the Cosmos network. In the proposal, an updated white paper was introduced to help update and transition the platform into its next phase. Resistance and controversy followed the proposal from start to finish as multiple stakeholders weighed in. In the end, the contentious vote swung back and forth in the final hours but ultimately ended with a 37% ‘No With Veto’ vote signaling the failure of the proposal. Some of the arguments against the proposal include changes to the ATOM issuance and more generally the overall density of the proposal. Members of the Cosmos community have called for the dismantling of the proposal into many different proposals to better gauge the contents. The Cosmos community now looks to reconvene on possible next steps for the best path forward.
- CFTC Pushes Back Against Amicus Briefs in Ooki DAO Lawsuit: Lawyers for the CFTC served notice of the lawsuit against the DAO via a website help bot and a forum post. The four amicus briefs say the CFTC wasn’t playing fair.
- ApeCoin DAO Launches Community-Driven NFT Marketplace: The platform offers features built especially for the Bored Ape Yacht Club and Otherside communities, its CEO said.
- Decentraland DAO Considers Pausing Grants as FTX Collapse Spotlights Diversification: The metaverse platform’s DAO community treasury holds over 99% of its assets in MANA, Decentraland’s native cryptocurrency.
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