DAOs: OpenLaw expands to Tribute Labs, DAOhaus introduces Yeeter, Bribe Protocol’s foray into Aave governance, Curve on Optimism, Uniswap releases Seatbelt, ENS DAO holds workstream election, BadgerDAO’s BIP 84 approved, and more!
Biweekly report on decentralized autonomous organizations vol.17, 7th January — 22d January
TL;DR
- OpenLaw is expanding and rebranding to Tribute Labs to reflect its focus on building tooling and supporting the growing DAOs ecosystem, through open-source frameworks like the Tribute DAO and the OpenLaw
- DAOhaus introduces the Yeeter. Yeeting means joining a Moloch DAO by just sending some xDAI, ETH, Matic (i.e. a native gas token) to a contract address
- Aave’s votes about launching Aave V3 on Optimism & Arbitrum passed, votes for Boba & Fantom are live. Check out the Portals features and mechanisms in ’Powering the Multi-blockchain Metaverse’
- Bribe protocol kicks off Aave integration with asset onboarding proposal: The proposal to onboard the MIM stablecoin as a collateral asset demonstrates both the value proposition and risks of vote bribery
- Aragon introduces weighted voting
- Compound holds quarterly renewal vote for Gauntlet Network risk management. Proposal 082 is live, 081 executed, 080 failed, 079 canceled
- Curve has launched on Layer 2 rollup network Optimism. While the community discussed adding a gauge for the agEUR-ibEUR pool
- The Colony token launch auction 2022 starts Jan 25. The mainnet CLNY token launch proposal is live for voting. Furthermore, the summarized version of white paper is out
- Akropolis is moving to DAO-Protocol complete decentralization. AIP-012 & AIP-013 are open for discussion
- BadgerDAO’s BIP 84: DIGG Boost Restoration approved. The restitution process continued on the way following the exploit. While Badgers forming the CitadelDAO
- Uniswap releases Seatbelt — a new test suite to strengthen DAO governance. Messari Q4 2021 Uniswap Quarterly Report is out. Furthermore, Voltz protocol begins phase 1 poll of Uniswap governance process to request use of v3 codebase
- Balancer’s subDAOs formation proposal passed. Collaboration between Balancer, OlympusDAO, CopperLaunch, and PrimeDAO
- API3 is releasing beacon data feeds with Amberdata
- Bancor proposals for onboarding, trading liquidity increases, fee changes, and more passed
- Gitcoin introduces Gitcoin Aqueduct. DAO’s workstream accountability flow proposal is active. The Schelling Point Virtual Hackathon is live till Feb 10
- GnosisDAO’s GIP-22: Partnership Agreement with BalancerDAO is live
- Idle DAO’s IIP-18 successfully passed the on-chain voting phase, queued and will be soon executed. Moreover, legal structure governance proposal is live on forum
- Index Coop’s IIPs 120–124 passed. Metagovernance proposals for Balancer, Aave, and Compound approved
- Lido’s proposal to continue LEGO for Q1 2022 approved. The community votes to allocate LEGO funds for the sponsorship of Bankless podcast and to join the Messari Hub to commission a series of research reports
- Maker investigates NFT backed lending mechanisms. The DAO faces huge liquidations from market crash. The Maker community voted in the Signal Request poll, which is the first step in order to propose an action to MakerDAO
- Fei continues executing Rari Capital merger with proposal to repay hack debt and set deadline for token conversion
- ENS DAO holds workstream election. The DAO votes on increased fees for registering recently expired names
- Friends with Benefits DAO undertakes code of conduct review on member, representing one of the first cases of DAO disciplinary action
- Synthetix has partnered with Gauntlet for risk management modeling
- The mStable QuestBook is now a public repository. A new Vesper proposal on the forum
- The Nexus Mutual community discuss Operation Wartortle
- PoolTogether’s PTIP-52 & PTIP-53 passed
- Yam’s YIP-100: contributor compensation process upgrade passed
- Rabbithole launches metagovernance
- Dydx governance considers controversial market maker rewards changes
- Terra project announces foundation for ecosystem funding
- Secret Network announces ecosystem fund to support growth of secret applications (including private DAO voting)
- Blockchain at Berkeley student organization launches grants program
- Active proposals: Aave, Compound, Curve, Gitcoin, GnosisDAO, Idle, LidoDAO, MakerDAO
- New & ongoing discussions: Balancer, Index Coop, Synthetix, PieDAO, Uniswap, mStable, Yam Finance, Yearn Finance, Nexus Mutual, BancorDAO, Akropolis, PoolTogether, API3, KyberDAO, Kleros, Badger DAO
- New MolochDAO grantee interview series
- 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
Leading DAOs
Frameworks
Aragon
Recent blog posts
- What is Composability? Part 2: Scaling: How will L2 scaling solutions affect composability?
- Introducing Weighted Voting: How weighted voting works and is suited to all kinds of national and organizational ballots.
- Vocdoni | Aragon Labs End of Year Retrospective 2021
- DAO Global Hackathon — Thank You!
Daohaus
Recent blog posts
- How we Yeet: A quick look into how easy we made it to join a Moloch DAO.
HAUS Party LIVE!
Tribute Labs (OpenLaw)
OpenLaw is expanding and rebranding to Tribute Labs to reflect its focus on building tooling and supporting the growing decentralized autonomous organizations (DAOs) ecosystem, through open-source frameworks like the Tribute DAO framework and the OpenLaw framework.
Governance
Aave
Bribe Protocol Kicks Off Aave Integration with Asset Onboarding Proposal: Their proposal to onboard the MIM stablecoin as a collateral asset demonstrates both the value proposition and risks of vote bribery.
The trend towards monetizing governance influence continued this past week with Bribe Protocol’s first foray into Aave governance. While they’ve previously announced plans for an Aave integration, the concept became more concrete with their proposal to onboard the MIM stablecoin as a proof of concept for their influence mechanism.
The MIM stablecoin is issued by Abracadabra, which is nominally governed by SPELL token holders but largely controlled by a small core team. It has gained huge adoption through adept usage of the bribery mechanisms built for the Curve and Convex ecosystems, making it a natural fit to engage with Bribe Protocol. But with this new push targeting a lending protocol rather than exchange, it’s worth considering how the context could be different from Abracadabra’s previous influence campaigns.
Curve has several features that make it an ideal target for bribes. Voting rights require long term lockups, which can make veCRV holders less sensitive to possible negative price impacts and externalities of accepting bribes. In this circumstance, veCRV holders’ only way to monetize their stake in the short term is by selling voting rights to the highest bidder. Compare with most other projects with minimal lockups, where voters must account for potential market impacts against the value of accepting bribes.
Additionally, exchange protocols like Curve generally don’t insure liquidity providers against losses, while most stablecoin and lending projects do offer such guarantees (either explicitly like Aave and MakerDAO or implicitly in the case of Compound). This makes the consequences of poor governance much more severe for lenders, while veCRV voters only risk wasting inflationary rewards.
Returning to Bribe Protocol’s proposal for listing MIM on Aave, we can begin to see the outlines of a significant challenge to the current altruistic governance paradigm.
While free riders have always benefited from participation and research of active contributors, they now have a way to extract payments directly. Bribe protocol auctions the entire voting pool to the highest bidder, which can force long term aligned investors to make competing payments to the pool to prevent votes being hijacked by external counterparties or even used in governance attacks.
Users would likely reject bribes for supporting clearly malicious proposals (eg. a proposal to steal collateral assets from the protocol), but many proposals can meet minimum standards of legitimacy while still presenting a poor risk/reward tradeoff for long term holders. Asset onboarding proposals like Bribe protocol’s MIM initiative can serve as an example of this.
MIM has decent liquidity and historic price stability, but holds significant collateralization in Terra’s UST stablecoin and other high risk assets. Abracadabra also has a series of other weaknesses including centralization of executive power within the core team and lack of safeguards against misuse of admin privileges. So while it may seem safe for passive, non-participating token holders to accept a bribe for listing MIM as collateral, this may run against Aave’s best interests in the long run.
Bribery mechanisms present serious challenges to decentralized governance, by creating a prisoner’s dilemma between token holders on accepting . Where traditional corporations can rely on legal or reputational recourse, DAO’s need to figure out cryptoeconomic incentives to support good governance and long term alignment. So while Bribe Protocol and similar projects may cause some degree of instability in governance, they could also drive new mechanism design and protocol improvements (or even contribute to these systems directly).
Active proposals
- Approve bounty of xSUSHI’s incident [end Jan 25]
- Adding SEBA Bank as a Whitelister to Aave ARC [end Jan 26]
- Deploy Aave V3 on Fantom [end Jan 24]
- Launch Aave on Boba Network [end Jan 23]
Closed proposals
- Deploy Aave V3 on Arbitrum One
- Launch Aave V3 on Optimism
- Should Aave onboard Wrapped UST as a borrow-only asset?
- Should twelve (12) total risk parameters across eight (8) Aave V2 assets be updated?
- Risk Parameter Updates 2021–12–29
- Should nine (9) total risk parameters across seven (7) Aave V2 assets be updated?
New and ongoing discussions
- ARC. Aave Governance V3
- Proposal to extend Aave to Fuse Network
- ARC — Consolidate Aave V1, V2 & AMM Reserve Factors, Purchase CVX and Deploy to Earn Yield
- Launch Aave on Fantom
- Listing Proposal: Add UMA as collateral on Aave
- Listing Proposal: Add VSQ (Vesq) in an isolated lending market [Polygon Network]
- ARC: Add UST as a borrowable asset
Latest governance topics on governance forum.
Recent blog posts
There were no active proposals these weeks.
Discussions
Latest governance topics on governance forum.
Recent blog posts
- Announcing Amberdata Beacons, Powering DeFi at ETHDenver
- The first-party oracles are coming
- API3 Operations Update: 2021 End
API3 DAO Tracker: API3 DAO currently involves 4,581 members participated in 21 votings.
- [Primary Proposal 2] API3 Hot Wallet
- [Secondary Proposal 17] API3 at ETHDenver 2022
- [Secondary Proposal 8] Build Airnodes Management UI — Enormous.Cloud Team Proposal
- [Primary Proposal 1] — Getting University Blockchain Groups Involved in Governance
New and ongoing discussions (Sentiment Check)
Latest governance topics on governance forum.
Recent blog posts and news
Closed proposals
- BIP 84. DIGG Boost Restoration [end Jan 20]
- BIP 80 (a). BADGER Allocation to Restitution Program [end Jan 8]
- BIP 80 (b). Yearly Reassessment [end Jan 8]
- BIP 80 (c). Full proposal agreement [end Jan 8]
New and ongoing discussions
To read more about the different proposals and take part in the decision, check out the governance forum.
How to DeFi Safely (Part 1):
Recent blog posts and news
Closed proposals
New and ongoing discussions
- [Proposal] Deploy Balancer on L2 Optimism
- [DRAFT] Proposal: Balancer subDAOs Formation
- [Proposal] Treasury Swap: Balancer DAO <> Fei DAO
- FEI<>WETH Liquidity and strenghtening ties with Fei
Latest governance topics on governance forum.
Closed proposals
- Increase INDEX trade fees to 0.5% on Bancor3 only
- Whitelist AST with 50,000 BNT trading liquidity
- Increase the trading liquidity limit in the ENS-BNT pool to 200K BNT
- Proposal to activate LM rewards on the SFI-BNT pool in exchange for SFI buybacks
- Increase Trading Liquidity to 300K BNT on DDX (DerivaDAO) Pool and Set Pool Fees at 1%
- Change the fee in the OCEAN pool from 0.2% to 0.5%
- Change the fee in the ZCN pool from 0.2% to 0.5%
- Increase trading liquidity on CEL-BNT pool to 1M BNT
- Whitelist Cartesi (CTSI) with 50,000 BNT trading liquidity limit
- Incentivize users to migrate to V3 by matching token side LM rewards with up to 50,000 BNT per pool
- Whitelist SHIBGF with 30,000 BNT Trading Liquidity Limit
- Whitelist Sheesha with 50,000 BNT trading liquidity limit
New and ongoing discussions
- Proposal: Deploy Bancor on the Polygon Blockchain
- Proposal: Whitelist PHTR token with 100k BNT co-investment
- Proposal: Change stablepool fees USDT/USDC/DAI to 1.0%, 1.0% and 1.5%, respectively
- Create pool for the new Reserve Rights (RSR) token contract with 750,000 BNT trading liquidity limit
- Proposal: increase the trading liquidity limit in the TRAC pool to 1M BNT
To read more about the different proposals and take part in the decision, check out the forum.
DeFi by Design EP59: Building Sustainable Yields in DeFi w Impermanent Loss Protection:
Active proposals
- 082 Dynamic Risk Parameters — Quarterly Updateactive [end Jan 22]
Closed proposals
- 081 Risk Parameter Updates for ETH
- 080 Update cSUSHI cToken Implementation
- 079 Migrate Contributor Streams to Sablier
New and ongoing discussions
- Gauntlet Quarterly ContributorCompSpeed Update
- Risk Parameter Updates 2022–01–07
- Governance Guide — How To Delegate
Latest governance topics on governance forum.
Active snapshot proposals
- Can CRV do currency and foreign exchange transactions? Is it possible to introduce derivatives like foreign exchange into the bl
- CRV continuera-t-il à frapper ATH en 2022 ?
- Will CRV continue to hit ATH in 2022?
- CRV会在2022年继续创新高吗？
New and ongoing discussions
- CIP#55 — To make the community fund self sustaining
- CIP#12 — Which tokens should be included in a gold pool?
- Proposal to raise A parameter on FEI-3CRV pool to 500
- Proposal to Add MAI Gauge on Polygon
- Proposal to ramp amplification coefficient for stETH pool to 200
- Proposal to add agEUR — ibEUR Gauge
To read more about the different proposals and take part in the decision, check out the forum. Vote here.
Active proposals
- Gitcoin DAO — Workstream Accountability Flow [end Jan 25]
Closed proposals
- DAO Operations (DAOOps) Q1 2022 budget request
- Ratify the Results of Grants Round 12 and Formally Request the Community Multisig to Payout Matching Allocations
- Public Goods Funding Workstream Budget Request for Q1 2022
New and ongoing discussions
- Gitcoin Aqueduct
- Gitcoin Treasury Diversification
- Regen CryptoEconomics Book: Governance
- Proposal: Partnership & Mutual Grant with Developer DAO
- [Proposal] DAO Operations Workstream Budget — Q1 2022
To read more about the different proposals and take part in the decision, check out the governance forum.
Builderband Community Call #8 [2022/1/19]:
Recent blog posts
Active proposals
Closed proposals
- GIP-21: Amendment to GIP-17. Send additional funds to daughter Safe
- GIP-20: Karpatkey DAO Treasury Management
New and ongoing discussions
- GIP-13 (Phase 2): CowDAO and COW Token
- GIP-22: Partnership Agreement Between BalancerDAO & GnosisDAO
- GIP-23: 2nd amendment to GIP-17. Add authority of Instadapp SCW to daughter Safe
- GIP 16 — Gnosis Chain — xDAI/Gnosis merge
Find out the latest GnosisDAO proposals here.
Recent blog posts
Active proposals
Closed proposals
New and ongoing discussions
- [IIP-18] — Governor bravo update, M1–2022 Leagues budget transfer, Idle Smart Treasury migration, and Enzyme Bug Bounty
- Introducing $IDLE Gauges model for Tranches
- DAO Tools Research — Idle DAO Modular Stack
- Idle DAO Legal Structure — FAQs
- Idle DAO Legal Structure — Summary
To read more about the different proposals and take part in the decision, check out the governance forum.
Recent blog posts
- Proof of Proximity: Changing the Landscape of Fashion
- How Livepeer is Building the Video Infrastructure for the Decentralized Internet
- An Introduction to Decentralized Exchanges, Centralized Exchanges and Wallets
- Know Your DeFi Pulse Index (DPI) Token: Yearn.finance (YFI)
- An Introduction to Cryptocurrency
Closed proposals
- IIP-124 — Delegate Aave to EOA Address for Cross DAO Polygon Aave Market Changes
- IIP-123 — Finance Nest Autonomy Act
- IIP-122: Delegate FLI launch decisions to PWG & DFP on a per-chain basis
- IIP-121: Extend FLI Parameter Delegation
- IIP-120 DG1: Launch Forefront Social Token Index
- [AAVE-55] Enable FEI as Collateral on Aave V2
- [COMPOUND-82] Dynamic Risk Parameters — Quarterly Update
- [ Balancer ] Increasing flexibility of Liquidity Mining program
- Balancer subDAOs Formation
- [COMPOUND-81] Risk Parameter Updates for ETH
- [COMPOUND-80] Update cSUSHI cToken Implementation
- [AAVE-54] Risk Parameter Updates 2021–12–29
- BIP 80 (c). Full proposal agreement
- BIP 80 (b). Yearly Reassessment
- BIP 80 (a). BADGER Allocation to Restitution Program
- [COMPOUND-79]
New and ongoing discussions
- IIP-##: DG1 Launch the Total Crypto Market Cap Index (MCAP)
- Launch a Fixed Income Product Suite ($FIXED)
- IIP-124 — Delegate Aave to EOA Address for Cross DAO Polygon Aave Market Changes
- IIPXX : Launch the $REAL Index
- DRAFT: IIP-XYZ: Meta-Governance 2.0: Executive Productivity
Find latest Index Coop proposals here.
To read more about the different proposals and take part in the decision, check out the governance forum.
Index Coop — Q4 Financial Statement Review:
Recent blog posts
There were no active KIPs these weeks.
Discussions
To read more about the different proposals and take part in the decision, check out the governance forum.
Kleros Incubator Demo Day — 2022:
KyberDAO
Recent blog posts
- KyberSwap Tech Improvements for Traders and Integrations (Jan 2022)
- Kyber Network announces new CEO
- KyberSwap Tech Improvements for Traders and Integrations (Jan 2022)
There were no active proposals these weeks.
Find out all proposals here. Check them out on GitHub.
Kyber + Sipher AMA with Alain Dinh:
Recent blog posts
Active proposals
- Proposal: Commission research through the Messari Hub [end Jan 26]
- Proposal: Sponsorship of Bankless Podcast/Newsletter [end Jan 22]
Closed proposals
New and ongoing discussions
- LEGO: Expand LEGO Committee by adding Mike from Mixbytes()
- Proposal: Sponsorship of Bankless Podcast/Newsletter
- Referral Program Whitelisting [Ethereum]
- LEGO: Integration Lido <> Stakeall Finance
- LEGO: A proposal to continue LEGO for Q1 2022
- LIP-6: In-protocol coverage proposal
To read more about the different proposals and take part in the decision, check out the governance forum.
Learn about Lido, Liquid Staking Ethereum, Polygon / Cosmos Alpha and more from Head of BD Jbreezy:
MakerDAO
Maker investigates NFT backed lending mechanisms:
Active Polls (16 Polls — Ending Jan 24)
- Community Greenlight Poll — OGN (Origin Protocol)
- Community Greenlight Poll — OUSD (Origin Dollar)
- Community Greenlight Poll — RBLD (Robinland Holdings)
- Community Greenlight Poll — TUSD-PSM (TrueUSD)
- Community Greenlight Poll — USDap (BondAppetit)
- Ratification Poll for Modify Core Unit Budget, ORA-001 (Oracle Gas Costs) (MIP40c3-SP45)
- Ratification Poll for Onboarding Tech-Ops Core Unit (TECH-001)
- Ratification Poll for the Strategic Finance Core Unit (SF-001)
- Ratification Poll for Collateral Offboarding Process (MIP62)
- Ratification Poll for Core Unit Budget, SNE-001 (MIP40c3-SP47)
- Ratification Poll for Bug Bounty Program for MakerDAO Critical Infrastructure (MIP64)
- Ratification Poll for Maker Keeper Network (MIP63)
- Ratification Poll for Offboarding Content Production Core Unit (MKT-001)
- Ratification Poll for Facilitator Onboarding for RWF-001 (MIP41c4-SP27)
- Ratification Poll for Development & UX Core Unit Budget — DUX-001 (MIP40c3-SP52)
- Ratification Poll for Modify Core Unit Budget — Sustainable Ecosystem Scaling (SES-001) (MIP40c3-SP55)
Executive
- MOMC Parameter Changes, Decrease the GUNIV3DAIUSDC2-A Liquidation Ratio [Expires at Feb 20]
- Recover DAI from Optimism Escrow, Changes to Uniswap LP Vault Debt Floor Parameters, Delegate Compensation [Executed on Jan 17]
New and ongoing discussions
- IAM for Surplus Buffer
- Proposal Ideas on the Forum
- [Pre-MIP] Using Gyroscope to cut through Dai’s Gordian knot: its USDC dependency 1
- An RWA style solution to replace the PSM
- gbMKR, a proposal to benefit long-term MKR holders
and many more!
Read more about the different proposals and take part in the decision.
Governance Portal, Governance Forum. MakerDAO events calendar here.
MakerDAO faces huge liquidations from market crash:
Recent blog posts
- mUSD Save Vault on Polygon now Live on Harvest Finance
- mStable🤝Abachi — Abachi deploys US$1.5m of its Treasury into mStable Save
Closed proposals
- MCCP 14: Whitelist Abachi Multisig in Staking V2
- TDP 33: Community subDAO Creation and Funding
- MCCP 13: Increase cache for BUSD and GUSD Feeder Pools
New and ongoing discussions
- MIP 25: Save Unwrapper
- TDP 33 — Community subDAO Creation and Funding
- ✔️ TDP 31 — Pre-Approve MTA for Market Making
- MCCP 14: Whitelist Abachi Multisig in Staking V2
To read more about the different proposals and take part in the decision, check out the governance forum.
There were no active proposals these weeks.
Discussions
- Proposal: Operation TM21
- Update: Financial Advisor DeFi Toolkit
- Potential next steps for continuation of Operation TM12
- Operation Wartortle Next Steps: Draft Execution Proposal
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.
Mutant Meetup Call | 18 January 2022:
Closed proposals
New and ongoing discussions
- Time to balance the balanced crypto portfolio?
- [Proposal] Update for DeFi+L Yield Strategies
- [PIP-65] Staking rewards compounding to veDOUGH
To read more about the different proposals and take part in the decision, check out the governance forum.
PieDAO for Dummies:
Recent blog posts
- Better Reward Distribution
- Cats, Music and PoolTogether: PoolTogether Community Interview #14
Closed proposals
New and ongoing discussions
- PTIP-52: Additional 30 Days of Prize Subsidies
- PTIP-53: Executive Team Budget
- [RFC #2] Community Advocate Status Role
To read more about the different proposals and take part in the decision, check out the governance forum.
Recent blog topics and news
- ETH Loans are live on Layer Two through Staking
- The Peacock Release
- Synthetix partners with Gauntlet for risk management modeling
Closed proposals
- SCCP-162: SCCP-162: Update Parameters of Atomic Swap
- SIP-201: Allowing governance on L1 in case OVM becomes inaccessible
- SIP-199: Add SOL Synth on Optimism
- SIP-197: Bypass SIP presentation
- SIP-196: Remove Centralized Oracle
- SIP-200: Fix FeePool Rewards Distribution
- (Revote) SIP-191: Moving Council Dilution to Optimism
- SIP-196: Remove Centralized Oracle
- Is our snapshot space broken?
- (Revote) SIP-191: Moving Council Dilution to Optimism
- SIP-191: SIP-191: Moving Council Dilution to Optimism
To read more about the different proposals and take part in the decision, check out the governance forum.
Recent governance topics and news
Closed proposals
New and ongoing discussions
- Governance Proposal 005 — DeFi Education Fund
- Proposed Simplifications to the Uniswap Governance Process
- Temperature Check — Deploy Uniswap V3 on AVAX
- Should Uniswap Provide Voltz with v3 Additional Use Grant
- Call for Research Collaboration: Uniswap Proposal Creators and Governance Contributors
To read more about the different proposals and take part in the decision, check out the governance forum.
Recent blog posts
There were no active proposals these weeks.
Check out the latest YIPs discussions here.
MISC
Rabbithole Learning and Discovery Platform Launches Metagovernance
Rabbithole will use voting power earned from protocol quest offerings to empower community governance.
Over the past year, Rabbithole has become an important user acquisition tool for DAOs and defi platforms. It offers a learning and discovery platform similar to Coinbase Earn, where users can earn a small share of tokens for proving knowledge about the sponsoring project. But unlike Coinbase’s offering, which frequently just involves video explainers and short quizzes to prove retention, Rabbithole encourages learning by doing — users must actively use and interact with the underlying project to earn their reward.
As part of their revenue model, Rabbithole keeps a small share of the tokens granted for user rewards. But with significant funding already in place, they have taken the forward looking approach of holding these DAO governance tokens on their balance sheet, which has led to a significant accumulation of voting power in supported projects.
With their latest announcement, Rabbithole has now committed to putting these tokens to work and further deepening their relationship with users and client projects. This will involve active delegation, voting, and participation, all directed by the Rabbithole community of users with proven DAO and defi engagement.
Based on Rabbithole’s past quests, they can already begin using their token stakes to engage with 7 of the most prominent DAOs on Ethereum. And as they continue to expand their quests program, this practice of holding tokens for governance engagement can become an important selling point for projects — helping to acquire not only users, but also contributors.
ENS Forms DAO Working Groups
Voters are deciding on up to 3 initial stewards for each of the DAO’s workstreams.
ENS is kicking their governance operations into high gear with the upcoming launch of workstreams. While working group structures have been adopted by several other DAOs including MakerDAO and Gitcoin, ENS is taking a unique approach to team formation versus predecessors. Where other projects allow individuals or preexisting groups to propose new workstreams, the ENS DAO has taken the opposite approach of first ratifying working groups before confirming members.
The initial proposal for working group formation passed with an overwhelming majority, and ENS holders are now considering open elections for up to 3 members of each of the 4 inaugural teams. Open elections for members brings some potential benefits but also comes with risk.
On the benefit side, this method is radically transparent and helps ensure working group members remain accountable to token holders (new elections happen every 6 months). There is also the possibility that this onboarding process will draw from a wider group of contributors, although name recognition and public profile may have a large impact on the eventual election winners. Besides the risk of working group elections devolving into a popularity contest, coordination may suffer if the elected members can’t work well together within or across teams.
Elections ended. According to the previously approved working group framework, representatives from all 4 teams will coordinate on a collective funding request proposal to the ENS DAO in the coming weeks, which should demonstrate if this novel team building style is conducive to high stakes coordination. Assuming this style of contributor elections works well, it could offer an important safeguard against the risk of contributors capturing parts of DAO organizations.
- ENS DAO votes on increased fees for registering recently expired names:
- Blockchain at Berkeley student organization launches grants program:
- Dydx governance considers controversial market maker rewards changes, with questions raised about possible self-dealing among large market makers that also participate in governance:
- Friends with Benefits DAO undertakes code of conduct review on member, representing one of the first cases of DAO disciplinary action:
- Tether freezes 3 addresses with $160 million in USDT, representing largest seizure by a centralized stablecoin issuer to date:
- Terra project announces foundation for ecosystem funding and supporting stability of their native stablecoins:
- Secret Network, a privacy focused smart contract platform, announces ecosystem fund to support growth of secret applications (including private DAO voting):
- Fei continues executing Rari Capital merger with proposal to repay hack debt and set deadline for token conversion:
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