DAOs: Uniswap Foundation proposal, Aragon multiple financial proposals, Aave proposal to commit to PoS Ethereum, MakerDAO discusses removing USDC exposure, GitcoinDAO continues treasury diversification efforts, Curve DNS exploit, PoolTogether PTIP 80 approved, Nouns experimenting with novel governance systems, and more!
Biweekly report on decentralized autonomous organizations vol.31, 1st August — 19th August
TL;DR
- Uniswap community members have submitted a governance proposal to create the Uniswap Foundation, an entity tasked with growing the decentralized crypto exchange’s ecosystem. The vote moves on-chain
- Aragon launches How To Guides. Multiple financial proposals closed. A first public institution in Spain holds Vocdoni referendum
- Aave DAO approves creating GHO stablecoin. The DAO weighs proposal to commit to PoS Ethereum. Messari shared a deep dive into the state of Aave in Q2 2022
- MakerDAO discusses removing USDC exposure. The vDAO announces Governance Dashboard v2.
- PoolTogether begins drafting its ‘Protocol Constitution’. PTIP 80 — Treasury assets management #2 accepted
- Radicle // Gitcoin Public Goods Alliance proposal approved. GitcoinDAO continues treasury diversification efforts
- Another MolochDAO Grants Round is brewing. The proposal to send 120 ETH to support the legal defense of Tornado.Cash
- GnosisDAO’s GIPs 60 & 61 approved. Gnosis Guild launches the zodiac.wiki
- Bancor’s proposal to increase trading liquidity to the maximum level for 18 whitelisted Bancor pools has passed
- Curve DNS exploit resolved. Curve DAO turns 2 years
- BadgerDAO BIP-96 passed, BIP-95 rejected
- Compound proposal 115 was executed. The proposal to launch Compound III is ready for discussion
- Balancer’s BIPs 38–42 passes
- KyberSwap has submitted a proposal for Optimism grants
- Colony hackathon announced
- IdleDAO’s incentives distribution update proposal passed temperature check
- Kleros KIP-52 to create in the xDai Chain a Spanish General Court & Spanish Curation Court accepted
- mStable’s MCCP 23 & 24 closed. TreasuryDAO Charter to be carried out
- Nexus Mutual’s proposal 172 approved
- Yam Quarterly Treasury Report Q2 2022 is out. YIPs 112 & 113 passed, the vote for redemptions of the Treasury has ended with a “No”
- Yearn’s new rebrand
- Optimism’s Token House concludes Season 1
- Nouns DAO experimenting with novel governance systems. Mandated Rounds: Nouns Governance proposal
- Decentraland: Data Backpack proposal
- BitDAO x AfricaDAO: Accelerating Web3 adoption across the fastest growing continent
- Krause House Gitcoin DEI grant program sponsorship and participation proposal
- Paladin’s Treasury management #1 proposal
- BanklessDAO’s Season 5 Specification proposal
- SuperRare: Formalize the relationship between SuperRare Labs Inc. and the RareDAO Foundation
- CreatorDAO raises 20 million from investors including a16z, Paris Hilton and The Chainsmokers
- Dragonfly Capital leads 3.5 million seed round for Debt DAO
- Governance House and Llama team up
- Webaverse has launched an open source where users can create a virtual home for their community or DAO
- Guild has introduced infrastructure for portable social structures and platformless memberships
- Active proposals: Aave, GitcoinDAO, Index Coop, LidoDAO, MakerDAO, Synthetix, Uniswap
- New & ongoing discussions: Balancer, Compound, mStable, Yam Finance, Curve, Yearn Finance, Nexus Mutual, BancorDAO, Akropolis, GnosisDAO, PoolTogether, API3, Idle, KyberDAO, Kleros, Badger DAO, PieDAO
- 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.
Global stats
Leading DAOs by votes
Read & Listen
- Designing Governance Tokens by Alana Levin
- A Political History of DAOs by Kelsie Nabben
- Startups: Should Yours be a Decentralized Autonomous Organization? by Spencer Graham
- Cryptoeconomics as a Limitation on Governance by Nathan Schneider
- To Fix Tech, Democracy Needs to Grow Up by Divya Siddarth
- What is a DAO Community and when is it healthy from RnDAO
- The Inefficiency Trap of DAOs from StableNode
- What DAOs can learn from Corporate Governance by Crypto Kailash
- Nouns: Treasury Allocation and its Effectiveness from Llama
- DAO Governance: A Game of Offense and Defense by Francis Gowen
- Non-Fungible Governance by 0xThanos
- What is Sweat Equity Distribution — and why should DAOs care? by Kyler Wandler
- Optimism: Governance Fund Observations by Ryan and Traver
- Permissionless Governance Layering by Darcy Allen
- Top 9 Challenges of DAO Unit Success from RnDAO
- Go Fork Yourself by Packy McCormick, David Phelps & Luca Prosperi
- DAO governance attacks, and how to avoid them from a16z
- A Simple Guide to Quadratic Voting by Austin Robey
- Business-Governance Fit from Haun Ventures
- Optimism Governance Delegate Data Dashboard from Flipside
- SushiSwap Meiji Restoration by Meiji DAO
- Zodiac.wiki Begins from Gnosis Guild
- The Real Legal Risks at MakerDAO
- Elfiverse NFT Element DAO Experiment
- How DAOs Can Avoid the Tyranny of Informal Structure from PeopleDAO
- Nouns DAO: Organically Dilutive Governance in Motion by Luca Prosperi
- The Great NounsDAO Experiment on I Pledge Allegiance Podcast
- The Nounders | Nouns DAO Series Ep 1 & Ep 2
- Evolutionary DAOs w/ Chase Chapman on The Green Pill Podcast
- The Great Maker Debate w/ Hasu and Rune on The Unchained Podcast
- How to fix DeFi tokens w/ Hasu on Bankless Podcast
- Sufficient Decentralization: A Playbook for web3 Builders and Lawyers from Variant Fund
- Democracy as a Design Space w/ Nathan Schneider on The Blockchain Socialist Podcast
- Guild: Platformless Membership
- ApeCoin DAO explores delegation
- Developer DAO looks to form a foundation
Frameworks
Aragon
Aragon launches How To Guides for DAO builders. Find the first batch of guides here:
- What is a crypto wallet & how does it work?
- How to choose the right blockchain for your DAO
- How to navigate launching a DAO
- How to set your governance
- How to choose your governance thresholds
- How to choose your legal wrapper
- How to mint your token
- How to build your DAO tooling stack
- How to structure proposals and build proposal processes
Ended votes
- July 2022 AN DAO Charter Improvement Proposals (CIP 0–2)
- Financial Proposal: Wildfire DAO Request for Balancer Token (BAL) Governance Power Delegation
- Financial Proposal: Wildfire DAO Request for Balancer Token (BAL) Governance Power Delegation
- Financial Proposal: Community Guild Proposal S2/S3
- Financial Proposal: ESD budget for tech audit of new Aragon products
- Financial Proposal — Eagle Ops
- Financial Proposal: Aragon dTech Season 2
- Financial Proposal: ESD S2 > Carryover ESD S1 Budget to S2
Discussions
- Growth Team Proposal
- Clarifying the path towards evolving Aragon Network governance
- Financial Proposal: Wildfire DAO Request for Balancer Token (BAL) Governance Power Delegation
- Financial Proposal — Eagle Ops
- Financial Proposal: Budget for tech audit of new Aragon products
- ESD Transparency: Performance Reporting
Moloch
Proposals
Discussions
- Legal Aid for Builders
- Moloch Grant Proposal 62 — Sybil Resistance
- Grant Proposal — SOURC3 // Building the Web3 way
- Grant Proposal: Rewards & Compensation Guidebook (project by RnDAO)
- Funding Proposal — In defense of Privacy
Governance
Aave
Aave DAO Proposes Committing to Ethereum POS Chain: As the Ethereum merge approaches, discussions have emerged at a handful of protocols to confirm commitment to the new chain. Ethereum is scheduled to switch from the current Proof-of-Work consensus layer over to the new Proof-of-Stake consensus layer sometime between September 15 & 16. Some Ethereum-based DAOs are doubling down and signaling their commitment to the new POS chain. Aave DAO has introduced a governance proposal where it formalizes the recognition of the Ethereum POS chain as “the canonical” governance of Aave DAO & markets. Look for a vote to go live soon.
Aave DAO Approves Creating GHO Stablecoin: Aave continues pushing through its GHO stablecoin plans with no signs of stopping. The community passed the first of three proposals needed to launch GHO. The proposal had no trouble passing with an overwhelming 99.9% ‘Yae’ votes. The DAO will next look to vote on a genesis parameters proposal for GHO sometime next week with an AIP on-chain vote to follow if successful.
Active proposals
- Ban Hackers from Transferring Community Contributing Members 4500X AAVE
- Asset Listing Framework (Market Risk) and Community Consensus Check
- [ARC] Add MaticX to Polygon v3 Market
Closed proposals
- ARC: Add OP as Collateral to AAVE v3
- Community Guardian renewal
- [ARC] Aave V3 Fantom — Freeze reserves
- Parameter Change Disclaimer in Borrow User Interface
On-chain votes
New and ongoing discussions
- ARC: Aave DAO Stance on Ethereum POW Fork
- ARC: Aave V3 Retroactive Funding
- ARC: Gauntlet Asset Listing Framework (Market Risk) and Community Consensus Check
- ARC — Strategic Partnership with Balancer Part #2
- BGD. Technical analysis Aave <> Ethereum’s PoS Merge
Latest governance topics on governance forum.
Messari shared a deep dive into the state of Aave in Q2 2022:
Akropolis
There were no active proposals these weeks.
Latest governance topics on governance forum.
API3 DAO
Recent blog posts
- Why API3 DAO, not API3 CORP?
- API3: Connecting the Blockchain to the Digital World
- First-Party vs Third-Party Oracles
API3 DAO Tracker: API3 DAO currently involves 5,289 members participated in 45 votings.
Executed Proposals
- API3 Marketing Cycle 8
- Operations Team Proposal, August-October 2022 (Cycle 8)
- API LatAmTeam, August-October 2022
- Airsigner (MEV Airnode) Development
- Ecosystem Proposal Cycle 1
- Integrations Team Proposal, August-October 2022 (Cycle 5)
- Business Development Team Proposal, August-October 2022 (Cycle 8)
- [Secondary Proposal 36] API3 Marketing Cycle 8
- [Secondary Proposal 37] Operations Team, August-October 2022 (Cycle 8)
- [Secondary Proposal] LatAm Team, Aug-Oct 2022 (Cycle 2)
- [Secondary Proposal] API3 Ecosystem Team — Aug-Oct 2022
- [Secondary Proposal] AirSigner(MEV-Airnode) Development
Latest governance topics on governance forum.
API3 @ EthCC 2022:
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.
Balancer
Recent blog posts and news
Closed proposals
- [BIP-42] Enable rETH/weth Metastable Gauge [Optimism]
- [BIP-41] Whitelist THX Network Gnosis Safe multisig for Balancer’s Vote-Escrow
- [BIP-40] Enable FOLD/ETH 50/50 Gauge [Ethereum]
- [BIP-39] Repay Aura Treasury for Unclaimable Rewards
- [BIP-38] Request for BAL Allocation to Orb Collective
Discussions
- [Proposal] Redeem Treasury FEI for USDC
- [Proposal] Support Balancer Space delegation on Snapshot for vlAURA holders
- Balancer <> Across Protocol for Bridging Tokens Across Chains
- Balancer LP BAL into MLP
- [BIP-XX] Allocate BAL Liquidity to Aave
- Balancer <> EPNS Collaboration for Sending Decentralized Notifications
Latest governance topics on governance forum.
Bancor
Recent blog posts and news
- Bancor Update — Week of August 8, 2022
- Understanding and Navigating Bancor Protocol Analytics Dashboard
- BBS Network ($BBS) now provides External Liquidity Protection on Bancor
- Trading of Crown ($CROWN) is now live with External Liquidity Protection
- Arable Protocol ($ACRE) is now whitelisted on Bancor
Closed proposals
- Proposal: only DAO can receive vortex rewards
- Proposal: Decrease the ETH fee rate on v3 to 0.1% aligning with v2.1
- Friendly Reminder Literally Anyone with 25,000 vBNT can make one of these.
- Proposal: All V3 pools to Max Approved Trading Liquidity
- Proposal: Creation of Code Under Development & Progress Page on Gov.
- Proposal: Enable Deposits Exclusively On-chain
- Proposal: Enable deposits for CROWN, increase trading liquidity
- Proposal: Grow trading liquidity on $USDT v3 pool to its max (~3.4m) via external trigger
- Proposal: Grow trading liquidity on $PHTR v3 pool to its max (~$454K) via external trigger
- Proposal: Grow trading liquidity on $MONA v3 pool to its max (~$286K) via external trigger
- Proposal: Increase Trading Fee in steps on the LPL pool from 1% to 5%
New and ongoing discussions
- Proposal: Move v2.1 liquidity to v3
- Proposal: Tokenize the Deficit
- Proposal: Limit on-curve liquidity to max(520 x 7 day fees, 100k BNT)
- Proposal: m-m-m-multi curve
- Proposal: only DAO can receive vortex reward
To read more about the different proposals and take part in the decision, check out the forum.
Bancor Community Call — Aug 7, 2022:
Compound
Closed proposals
- 115 Enable Sending ETH from Timelock (Revised) [executed]
New and ongoing discussions
- Initialize Compound III (USDC on Ethereum)
- Proposal: Adjust ETH Interest Rate Model
- CGP 2.0 — Delegated Domain Allocation by Questbook
- Compound III
- Parameter Change Impact Measurement: Part 2
- Reserve Factor Consensus for the Compound Protocol
Latest governance topics on governance forum.
Curve
New and ongoing discussions
- BTRFLYv2/ETH Gauge proposal
- Proposal to raise A parameter on DOLA to 450
- MAI Gauge Proposal on Ethereum
- Proposal to add the arUSD/USDT/USDC pool 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
- Web3 Identity 101 — episode 2: DIDs & VCs
- Web3 Identity 101: episode 1 — Sybil Attacks
- The Infinite Garden Relies on the Infinite Game
Budgeting Season at Gitcoin DAO: It’s budget season for DAOs, including Gitcoin. The 6 workstreams at Gitcoin DAO have begun drafting their budget proposals for Season 15. These workstreams include DAO Ops, Moonshot Collective, Gitcoin Product Collective, Public Goods Funding, Fraud Detection & Defense, and Memes, Merch & Marketing. The proposals look to fund the different teams over the course of the next 90 days. Look for amendments, approval, and ratification to follow.
The DAO continues pushing forward its treasury diversification efforts. This time, $10M worth of GTC is being requested from the treasury to be sold to strategic partners. In July, the DAO exchanged $3M worth of GTC as one part of the diversification plan. The current proposal details selling the governance token and diversifying its ownership further. Terms include a 17.5% discount on a 30-day price average, and a 1-year lock up with a linear 1-year unlock thereafter.
Active proposals
- Memes, Merch and Marketing Season 15 Budget Request
- S15 DAO Ops Budget Update
- Moonshot Collective S15 Budget Request
- Fraud Detection and Defense Funding S15 Budget Request
- Public Goods Funding S15 Budget Request
- Withdraw $10MM of GTC to diversify our treasury and increase governance partners
Closed proposals
New and ongoing discussions
- PGF Budget Request
- Moonshot Collective Budget Request
- FDD Budget Request
- MMM Budget Request
- DAO Ops Budget Request
To read more about the different proposals and take part in the decision, check out the governance forum.
DAOVibes Call — Aug 3rd:
LUKSO Build UP #1 Office Hours #3:
Gnosis
Closed proposals
- GIP-61: Shall GnosisDAO fund BootNode as a Core Contributor Team?
- GIP-60: Should Gnosis pilot a DAOcast?
New and ongoing discussions
- GIP-29: Spin-off safeDAO and Launch SAFE Token
- GIP-61: Shall GnosisDAO fund BootNode as a Core Contributor Team?
- GIP-53: Should GnosisDAO sponsor Necromorfo’s Cryptorock Tour 2022?
- An Analysis of the GnosisDAO Treasury: Context for the submission of new GIPs
Find out the latest GnosisDAO proposals here.
Idle
Closed proposals
- [Temperature Check] — $IDLE incentives distribution update
- [Temperature Check] — Leagues M3 Structure, Goals & Budget
New and ongoing discussions
- $IDLE incentives distribution update
- Detailed plan to grow TVL
- Leagues M3: Resurrection (M2 Report + M3 Structure, Goals & Budget)
To read more about the different proposals and take part in the decision, check out the governance forum.
HOW TO GROW DAO TREASURIES and AMM LIQUIDITY — Building DeFi Talks w/ Olympus and Idle DAO:
Index Coop
Recent blog posts
- Collider Ventures establishes long-term $INDEX position
- How to Buy “The Merge”
- A Complex Yield Strategy in a Single Token | August 10th Newsletter
- Introducing the Flash Mint SDK
- Introducing the Market Neutral Yield ETH ($MNYe) Token
Active proposals
- [Aave Snapshot] Asset Listing Framework (Market Risk) and Community Consensus Check
- [Uniswap-24]
- [Aave Snapshot] [ARC] Add MaticX to Polygon v3 Market
Closed proposals
- [Aave Snapshot] Ban Hackers from Transferring Community Contributing Members 4500X AAVE
- [BadgerDAO] BIP 96 — zeroDAO Deal Restructure
- [Aave] Risk Parameter Updates for Aave V2 (2022–08–03)
- [Aave] ARC: Add OP as Collateral to AAVE v3
New and ongoing discussions
- INDEX Delegation Intentions and Next Steps
- 10 Principles for Operational Excellence at the Index Coop
- Index Coop — Set: Next Steps
- Index Coop <> EPNS Collaboration
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
Recent blog posts
Closed proposals
Discussions
To read more about the different proposals and take part in the decision, check out the governance forum.
KyberDAO
Recent blog posts
- What is a DEX Aggregator? How does it work?
- Risks of Staking Explained: Potential Downsides of Crypto Staking Every Investor Should Be Aware of
- BENQI and Yeti Finance Launches Concentrated Liquidity Yield Farming on KyberSwap!
- Lido Finance partners with KyberSwap Elastic to enhance liquidity on Polygon with over $120,000 in liquidity mining…
- KyberSwap x Polygon Chain Trading Contest
- $50,000+ Rewards for LINK Liquidity Providers on Polygon!
- KyberSwap Elastic Vs Uniswap V3: A Comparison
There were no active proposals these weeks.
Find out all proposals here. Check them out on GitHub.
Lido Finance x KyberSwap x Polygon Yield Farming with Staked Assets:
Lido
Recent blog posts
Active proposals
Closed proposals
- LEGO: Expand LEGO Council by adding Alex Lykov
- Vote to engage a Head of Legal & General Counsel for Lido
- Yearly Budget & July 1, 2022 — September 30, 2022 Budget Request for RCC
New and ongoing discussions
- Lido to prepare for the bear market
- LDO+stETH dual governance
- [reWARDS] August ’22 Budget
- Treasury Diversification #2 — Part 2
- Lido on L2: first launches
To read more about the different proposals and take part in the decision, check out the governance forum.
MakerDAO
MakerDAO Discusses Removing USDC Exposure: Following the sanctions from the U.S. Treasury Department on Tornado Cash, DAOs are rethinking their exposure and risk profiles. The sanction saw Circle, creators of USDC stablecoin, comply with regulators and blacklist a number of wallet addresses. USDC is currently the largest collateral backing DAI, the native stablecoin of MakerDAO. This ban prompted back and forth discussions on the best path forward at the DAO to maintain its decentralization and strengthen its censorship resistance. De-risking USDC exposure has long been a regular discussion at the DAO with recent news events resurfacing it.
MakerDAO announces Governance Dashboard v2:
Active Polls
1 Poll — ending Aug 18 2022
6 Polls — ending Aug 22 2022
- Ratification Poll for Modify Dai Foundation Core Unit Budget (MIP40c3-SP74)
- Ratification Poll for Core Unit Offboarding Process Amendments (MIP4c2-SP15)
- Ratification Poll for Modify Oracle Core Unit Budget (MIP40c3-SP75)
- Ratification Poll for MIP50 Direct Deposit Module Amendment (MIP4c2-SP23)
- Ratification Poll for Makershire Redux (MIP76)
- Ratification Poll for Offboarding Events Core Unit (EVENTS-001)
3 Polls — ending Aug 29 2022
- Community Greenlight Poll — RWA Arranger (BlockTower Credit)
- Community Greenlight Poll — Cabot (Cabot Renewable Energy Crypto Mining LLC)
- Community Greenlight Poll — DDC (Detox Digital Coin)
Executive
- MOMC Parameter Changes, SocGen Vault Drawdown Authorization, Recognized Delegate Compensation, HVBank Legal Agreement Amendment [executed Aug 14]
New and ongoing discussions
- Maker Compensation Guidelines
- BFF Partnership with GnosisDAO
- Increasing MIP Efficiency Community Poll
- Anti-inflationary Proposal
- 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
and many more!
Read more about the different proposals and take part in the decision.
Governance and Risk | Ep. 203:
Open Decentralized Voter Committee | Endgame v3:
mStable
Closed proposals
- TreasuryDAO Signer Elections (H2 2022)
- ProtocolDAO Signer Elections (H2 2022)
- MCCP 24: Reduce weekly MTA emissions
- MCCP 23: Disable Underutilized Dials II
New and ongoing discussions
- MCCP 23: Disable underutilized dials II
- MCCP 24: Reduce weekly MTA emissions
- [Funding Request] mStable Builder subDAO (Sep-Dec 2022)
- [RFC] Increase Governance Fee Flow to Treasury
- Call for Applications — ProtocolDAO Signer Election (H2 2022)
To read more about the different proposals and take part in the decision, check out the governance forum.
mStable Governance Call August 2022:
Unveiling the First Metavault — Community Call — mStable:
Nexus Mutual
Closed proposals
- Should we grant a 3rd party the ability to sell our PoW ETH on a CEX post-merge?
- Should we approve the Nexus Hubs V2 proposal and grant $329,512 in total funding to the existing hubs for the next 6 months?
- Should we give BootNode a grant to design an ERC-4626 compliant covered vault?
- Should we replace Krugman as the Nexus Treasury multi-sig signer with BraveNewDeFi?
Discussions
- ETHPoW Execution, Allocation Discussion | Next Steps
- Operation Wartortle Next Steps: Draft Execution Proposal
- Getting ready for an upcoming Ethereum PoW fork
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.
Nexus Mutual Mutant Meetup Call | 16 August 2022:
Pie DAO
Closed proposals
New and ongoing discussions
- Detailed plan to grow TVL and Treasury
- [PIP-73] Add $APE to PLAY Pie + rebalancing
- [Epoch-10] MerkleTree Notarization
To read more about the different proposals and take part in the decision, check out the governance forum.
PoolTogether
Recent blog posts
- Knowing Yourself, Web3 Investing Lessons and a Dog Called Duke
- Bring Your Friends to Optimism
- More Prizes, More Winners, More Options!
- The Secret of Life, Pooly and a lot of Memes…
- PoolTogether Community Podcast #33 with Livster from the PoolTogether Community
- PoolTogether Community Podcast #34 with Josh from Opolis
- PoolTogether begins drafting its ‘Protocol Constitution’:
PoolTogether: Treasury Assets Management #2: Following on a previous work that focused on stablecoins, this proposal looks to convert most non-stable assets to ETH in order to consolidate. Tokens to be converted to ETH include: AVAX, BADGER, COMP, GAL, SUSHI, TRIBE, and UNI. AAVE and MATIC will be staked. [proposal 100% voted for / discussion]
Closed proposals
New and ongoing discussions
- PTIP 80 — Treasury Assets Management #2
- PoolTogether Inc Public Roadmap Q3 & Q4
- [RFC] Continue the Polygon POOL Pool?
- RFC: Decrease draw frequency and add appropriate prize tiering with larger prizes and a wider range
To read more about the different proposals and take part in the decision, check out the governance forum.
Synthetix
Recent blog posts and news
Active proposals
- Create a market to stabalize the price of zcash ($sZEC)
- SIP-266: Deprecation of the dilution function outlined within SIP 104 and referenced within SIPs 152, 191 and 201
- SIP-263: Clarify the Definition of Unanimity in Meta-Governance Votes
- SCCP-300: Set council minimumActiveMembers to n-1
Closed proposals
- SCCP-221: Update Parameters of Futures and Spot Markets
- SCCP-221: Update Futures & Spot Price Parameters
- SIP-269: Create OP-PERP
- SIP-268: Curve Integration
- SIP-267: Direct Integration
- SIP-301: Accounts (V3)
- SCCP-220: Revert SCCP-216 Parameter Changes for Optimism
- SIP-262: Create Perps Markets for XMR DOGE
- SCCP-218: Update ETH Wrapper Parameters
- SIP-259: Overflow in Issuer when `rateStalePeriod` > current unix timestamp
- SIP-260: Rate Limiting
- SIP-255: Burn fees instead of distributing them
- SCCP-219: Update Atomic Swaps
To read more about the different proposals and take part in the decision, check out the governance forum.
Uniswap
Recent blog posts and news
Uniswap looks to form a foundation: Two Uniswap community members have submitted a governance proposal to create the Uniswap Foundation, an entity tasked with growing the decentralized crypto exchange’s ecosystem. The proposal calls for the entity to be given a $74 million budget to cover the first three years of its operations. The proposal also asked for 2.5 million UNI tokens for the Foundation to participate in governance votes.
Community members, Devin Walsh and Ken Ng published a proposal where they outline the creation of the Uniswap Foundation. The foundation would be set up as an independent Delaware C Corp to help steward the development of the protocol. UF looks to address the DEX’s lack of a clear unified vision, high operational overhead, and general governance sluggishness. Walsh and Ng would comprise the initial leadership team alongside advisors. The proposal requests a budget of $74M for operations and 2.5M UNI for governance participation.
Uniswap Foundation Vote Moves On-Chain: The proposal to form the Uniswap Foundation has successfully passed both a temperature and consensus check vote. As a reminder, the proposal would introduce a new centralized entity known as the Uniswap Foundation to help steward the protocol alongside the DAO. UNI holders have signaled strong support for the proposal thus far with a near 100% ‘For’ vote on prior votes. The vote now moves on-chain where it will be live until August 23rd. 40m ‘For’ votes are required for the proposal to pass. This on-chain vote is the last necessary step to form the Uniswap Foundation.
Active proposals
Closed proposals
- [Consensus Check] Create the Uniswap Foundation
- [Temperature Check] Create the Uniswap Foundation
- [Consensus Check] “Fee switch” Pilot for Three Pairs
New and ongoing discussions
- [Governance Proposal] Create the Uniswap Foundation
- RFC: Uniswap Universal Governance Module
- UNI Default list
- “Fee Switch” Design Space & Next Steps
To read more about the different proposals and take part in the decision, check out the governance forum.
Yam Finance
Closed proposals
- Member Comp Model Update (Govops)
- E — Yam Infrastructure (Govops)
- YIP 112 — vote 2 — contributor YAM payment vesting
- YIP-112 vote 1 — as needed YAM minting
- YIP-113: Yam Treasury Director Creation
- Ross — Gov-Ops Council Beta Vote
- Feddas — Gov Ops Council Beta
- Silo-02, Milestone-1, Vote-1: Yam Treasury Management Strategy, Yield Farming, Protocol Owned Liquidity
- Treasury Redemption re-Vote
New and ongoing discussions
- YIP-111 Gov-Ops Council Creation (Beta Test)
- YIP-113 Yam Treasury Director Creation
- Silo-02: Yam Treasury Management and Maintenance Framework Silo
Check out the latest YIPs discussions here.
Yearn Finance
Recent blog posts
There were no active proposals these weeks.
Check out the latest YIPs discussions here.
MISC
Optimism’s Token House Concludes Season 1: Season 1 at Optimism’s Token House has come to a close. The Optimism Foundation has shared updates and reflections on the past 3 months of its governance experiment. A handful of updates and proposals are now up for discussion that looks to improve the governance process. Governance Committees have been introduced for Season 2 to help segment the large inbound of proposals by areas of expertise. Operating Manual v0.2 has also been drafted that changes the voting cadence from two weeks to three weeks, the need for two delegate approvals to move to a vote instead of one, and other operational improvements. The community will now enter a reflection period that lasts from August 4th through August 24th, with Season 2 kicking off on September 8th.
Bridge Hacks Spook DeFi Protocols: Recent bridge hacks have prompted new proposals at both Aave and Frax. The two DeFi protocols have introduced proposals that look to limit their exposure to other chains and bridges. Large bridge exploits at both Nomad and Harmony have spooked the protocols. Harmony Bridge was exploited for $100M in June. Nomad was exploited for $190M in August. Aave’s proposal outlines a plan to freeze all reserves of Aave V3 on Fantom. Frax’s proposal calls for the removal of all swaps on all chains and their respective bridges.
Krause House: Gitcoin DEI Grant Program Sponsorship and Participation Proposal: This proposal seeks to do three things: First, to gain approval to provide 20k $USDC to Gitcoin as a “matching partner” for the upcoming DEI Grant Stream; second, to get approval for funding to support the submission of one or more grant proposals to that Stream; and third, to demonstrate Krause House’s leadership in the areas of diversity, equity, and inclusion. The Krause House DAO was “founded on the vision that team ownership shouldn’t be limited to a handful of billionaires, but rather that all fans of every professional franchise can collectively have real ownership. The intent of this vision is inclusivity across all forms of diversity.” Potential proposals for a Gitcoin grant include bringing Krause House to the WNBA and creating a Nouns-style community trust in support of women and sport. [92.47% voting to approve budget + initiative]
Decentraland: Data Backpack: This proposal asks for $240k to develop a data backpack to deploy in Decentraland. The backpack would contain “whatever data” a user needs to “drive a DCL application” while giving the user control over the data shared in each instance. The hope is to support “self-sovereign, decentralized data, and identity,” areas of increasing attention these days. The forum discussion reveals however that the proposal was too hastily put together and needs further vetting. [99.98% voting no / discussion]
Paladin: Treasury Management #1: Paladin describes itself as a “decentralized, non-custodial governance lending protocol” in which “users can either loan the voting power in their governance token or borrow some voting power.” While the TLDR for this proposal is stated as “deposit CRV in lockers, lock BAL in Aura and sell CVX for treasury expenditure,” the context provided is critical to understanding it. In order to stabilize itself and remain a sustainable enterprise, Paladin needs to reinvest in “scaling business lines,” accumulate stablecoins to combat market volatility, and begin to decentralize by “empowering high-value contributors” (e.g. a treasury manager). Those three goals can be effectively pursued by managing the treasury in the way the proposal suggests. [ proposal/ 100% voting yes / discussion]
BitDAO x AfricaDAO: Accelerating Web3 Adoption Across The Fastest Growing Continent: With this proposal, AfricaDAO seeks a partnership with BitDAO, which supports “builders of the decentralized economy” in part by allocating funds from its $1.58 billion treasury, to help move Africa, “one of the largest, fastest-growing, and most promising markets” into becoming “a hub for web3 innovation.” With $20m from BitDAO and more funding yet to be raised, AfricaDAO hopes to unfold its ambitious plan, detailed in full in their 23-page proposal. [100% voted yes / discussion]
Radicle: Radicle // Gitcoin Public Goods Alliance: The proposal is now on-chain. By exchanging a significant amount of tokens (500K GTC and an equivalent amount of RAD, vested for two years), each organization takes on an influential meta-governance role in the other DAO. Among other things, 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 itself comes from Llama, which will facilitate the process of carrying it out. [proposal /100% voting for / discussion]
BanklessDAO: Season 5 Specification: As with previous season specs, this one provides details on changes for the upcoming season, which runs from August 8 through October 30, 2022. Importantly, however, if this proposal passes the Governance Solutions Engineers will have the ability to implement the BanklessDAO Constitution & Community Handbook, which includes a new improvement proposal process/template (bDIP). [96.09% voted to approve / discussion]
Nouns: Mandated Rounds: Nouns Governance: This Nouns proposal, which follows a highly successful first “mandated round,” is a call for proposals from the wider community to improve the Nouns governance client — based in part on the results of the Nouns Governance Survey. Any team can submit proposals to be one of five teams funded at 20 ETH each to create promising alternatives to what currently exists. “While our classic nouns.wtf/vote gets the job done, there is a lot more to explore regarding Nouns governance.” [98.04 voted for / discussion]
SuperRare: Formalize the relationship between SuperRare Labs Inc. and the RareDAO Foundation: With this proposal, SuperRare Labs (the company that founded SuperRare) and the RareDAO (an independent nonprofit created to support the SuperRare DAO) seek approval to formalize their relationship through a year-long, renewable contract so that a sustainable funding mechanism can be created for the latter. Details on the relationship and the funding are spelled out with thoroughness and clarity in the proposal posted in the forum. [100% voted for / discussion]
CreatorDAO Raises $20M from a16z: CreatorDAO emerges out of stealth and announces a seed round led by a16z and Initialized Capital. The DAO looks to invest in creators and provide them with capital, technology, and community support. Creators can now apply to join CreatorDAO to help further grow their audience and also share a percentage of future earnings with the community treasury.
Dragonfly leads Debt DAO raise: Debt DAO announces a $3.6M seed raise from Dragonfly Capital, GSR, and other investors. The DAO self describes itself as the “Pipe for Crypto” and the one-stop shop for crypto native credit. Debt DAO previously facilitated the first DeFi debt financing round for Redacted, the Metagovernance protocol.
Governance House and Llama team up: The two governance teams make it official. Governance House and Llama are merging core teams to form a governance superteam. The teams have stewarded and worked closely with numerous protocols and DAOs such as Aave, Uniswap, dYdX, TribeDAO, just to name a few. The team specializes in protocol engineering, treasury allocations, and analytics and will look to help further shape their partner protocols.
- Guild has introduced infrastructure for portable social structures and platformless memberships:
- Webaverse has launched an open source, virtual world where users can create a virtual home for their community or DAO:
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