DAOs: Uniswap V3 on Moonbeam & Gnosis Chain, Index Coop implements dynamic quorum for metagovernance, API3 launches quantum random number generator, Bancor 3 goes live, Gnosis introduces Safe Guardians program, FWB x OpenSea, and more!
Biweekly report on decentralized autonomous organizations vol.25, 30th April — 14th May
TL;DR
- Index Coop implements dynamic quorum for metagovernance
- Uniswap to expand beyond the Ethereum ecosystem to Moonbeam, a Polkadot parachain. New research shows that Uniswap v3 has deeper liquidity than leading centralized exchanges
- The Aave snapshot vote to add sUSD as collateral on OptimismPBC passed successfully
- API3 launches Quantum Random Number Generator - the first “true” random number generator for smart contracts, allowing them to access truly random numbers that are highly secure and freely available
- BadgerDAO’s BIP 92: Digg Restructuring approved. BIP 93: Council 2.0 is live on the forum for feedback and signal voting.
- Bancor 3 goes live with impermanent loss protection for liquidity providers. A number of proposals passed successfully
- AragonDAO is voting on where to direct charitable funds to help the people of Ukraine
- DAOhaus SZN3 veDAO is live
- Compound Treasury received a B- credit rating from S&P Global Ratings
- Gnosis’s GIP 42 is live, GIPs 44&45 are on the forum. Applications to become a Safe Guardian are open
- MakerDAO’s Greenlight & Ratification polls are active. A Maker Vault was used to finance a shipment of Australian Beef from Brisbane to Hong Kong
- Balancer’s proposal on Securing a BAL Reactor in Tokemak CoRE3 was highly debated. 1st anniversary of Balancer V2
- Idle launches Meta Delegate program
- Akropolis X Symbiosis collaboration, Akropolis X Celer Network
- KyberDAO KIP- 20: KNC Ecosystem Fund Allocation passed. KIP-19 executed and the DAO is changed to clear coinbase concerns about its setting
- mStable considering to rotate the community signers in the DAOs for the next 6 months
- The Nexus Mutant community discussing the proposal to allocate capital to Maple Finance. Partnership proposal Nexus Mutual x DDDX.io is live
- PieDAO’s UMA KPI Options for DOUGH Staking 2.0 proposal is live. [Epoch-7] MerkleTree Notarization passed
- The PoolTogether community discussing PTIP-72: Single-sided POOL staking with IL protection on Bancor
- Synthetix releases a new liquidation mechanism (SIP-148) that will greatly strengthen the protocol. SIPs 198 and 222 are in testing
- Yam’s Contributors Comp renewal declined
- MolochDAO grant proposals are open for voting
- GitcoinDAO governance process V3 is under discussion. Owocki requests proposals for ImpactDAO Category Creation and Impact Certificates. Season 14 Voter Guides are here
- The Commons Prize voting has officially started
- Lido deploying an additional CurveFinance pool to improve the liquidity around the stETH:ETH peg
- BanklessDAO funds the Season 4 with KPI stipulation.
- FWB x OpenSea partnership
- ApeCoin staking pool allocation reloaded
- Juicebox proposal to one-time JBX distribution to each member of the reserved JBX list passed
- Forefront creates hilarious governance meltdown with Nicolas Gauge
- The DAOist presents an overviews of the recent Global Governance Gathering
- Active proposals: Balancer, GitcoinDAO, GnosisDAO, LidoDAO, MakerDAO, Nexus Mutual, Synthetix, PieDAO, Uniswap
- New & ongoing discussions: Aave, Compound, Index Coop, mStable, Yam Finance, Curve, Yearn Finance, BancorDAO, Akropolis, PoolTogether, API3, Idle, KyberDAO, Kleros, BadgerDAO
- 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
The rating is headed by Uniswap and Gnosis. Two weeks earlier the second position was occupied by BitDAO.
Global stats
Leading DAOs
Read & Listen
- Decentralized Society: Finding Web3’s Soul by Weyl, Ohlhaver, and Buterin
- DAO Leadership: Building on the shoulders of giants by Mr.Nobody
- Learning by DAOing: Designing for the Unique Properties of DAOs by Justine
- Unbundling venture capital via DAOs by pet3rpan
- Business-Governance Fit by Chris Ahn
- How to Build Decentralized Twitter by Preston Byrne
- Are DAOs organizations with a shared onchain bank account? Maybe not. by Rolf Hoefer, See Eun Ha
- Why DAOs Need Better Decentralized Identity Tools by Jan Ole Ernst
- DAOs don’t need CEOs. They need a mission by Samantha Marin
- DAOs: The Future of Business by Attomic
- Building Healthy Teams, The DAOist
- Solving common DAO governance challenges,The DAOist
- Trustlessness is not decentralization! A thread by Will Papper
- Precipitating thread by @owocki on the “tyranny of structurelessness”
- How a group of 80 artists are stretching Dunbar’s hypothesis to its edges by Papa Jams
Frameworks
Aragon
AragonDAO is voting on where to direct charitable funds to help the people of Ukraine:
Discussions
- Aragon Ukraine Response WG Proposal
- Financial Proposal: A Path to Decentralised Governance
- Charter Updates — Discussion
- Financial Proposal: ESD S1 Budget Request for Discretionary Strategic & Governance Funding
Moloch
- ZayiRey — Membership Proposal — Requesting 1 share
- Apache Tuweni for a complete execution client — Requesting 37 shares
- Mycelium Research — Educational Resources — Requesting 6.5 WETH
- DAOStar One — Requesting 7.3 WETH
- ReallyBoringGuild, April-July 2022 — Requesting 2.2 WETH
- SmartInvoice Grant Proposal — Requesting 30 WETH
- Ethereum Cat Herders — Requesting 48.4 WETH
- Black Sky Nexus — Requesting 15 WETH
Tribute Labs (OpenLaw)
Governance
Aave
Closed proposals
- Risk Parameter Updates 2022–05–05
- Renew Aave Grants DAO
- ARC: Whitelist Connext for V3 Portals
- ARC: Enable sUSD as Collateral on AAVE V3 on Optimism with a 10 million sUSD Supply cap
- Should nine (9) total risk parameters across five (5) Aave V2 assets be updated?
- [ARC] Supply/borrow cap framework Fast track framework
- Add support for sAVAX (BENQI Liquid Staking AVAX Token) on AAVE v3
- ARC — Strategic Partnership with Balancer Part #2
- Add FRAX as Asset to Aave V3 Markets
- Aave Grants DAO Renewal Approval
On-chain votes
New and ongoing discussions
- [ARC] — Whitelist Connext for V3 Portals
- ARC: Add support for StakeWise’s permissioned staked ETH token (psETH) to Aave Arc
- ARC: Add 1INCH as collateral
- ARC: Add Support for StakeWise’s staked ETH token (sETH2)
- Aave DAO Treasury Diversification Discussion
- Add Notifications Center to Aave v3
- ARC: Add GNO to Aave V2
Latest governance topics on governance forum.
The on-chain vote to fund BGD has been executed — read a summary of what BGD has planned for the next weeks and months.
Akropolis
There were no active proposals these weeks.
Latest governance topics on governance forum.
API3 DAO
Recent blog posts
API3 DAO Tracker: API3 DAO currently involves 5,137 members participated in 34 votings.
Closed proposals
- [Secondary Proposal 27] API3 LatAM Team, May-July 2022
- [Secondary Proposal 29] API Integrations Team Proposal, May-July 2022 (Cycle 7)
- [Secondary Proposal 28] Operations Team Proposal, May-July 2022 (Cycle 7)
- [Secondary Proposal 26] API Integrations Team Proposal, May-July 2022 (Cycle 7)
- [Secondary Proposal 25] Technical operations proposal, 2022–04–27
Discussions
- [SC] API3 China Team Compensation Proposal 2022#1
- [SC] Kyros Marketing — API3 Vietnam Market Growth Cycle 1
Latest governance topics on governance forum.
Community Call May 5th:
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.
The Badger Maxi’s Guide to Citadel:
Balancer
Recent blog posts and news
- Balancer V2 Anniversary
- Balancer Goes on Tour
- Messari published their report about Balancer in Q1–2022 which governance approved on March 11th:
Active proposals
- Enable WNCG/WETH 80/20 Gauge [Ethereum]
- Whitelist Index Coop’s Investment Account Gnosis Safe for Balancer’s VotingEscrow
- Whitelist VitaDAO Gnosis Safe multisig for Balancer’s VoteEscrow
- Whitelist DAOhaus LPDAO Gnosis Safe multisig for Balancer’s VoteEscrow
- Whitelist BadgerDAO Gnosis Safe for Balancer’s VotingEscrow
Closed proposals
- Deploy Balancer to Optimism, managed by BeethovenX
- Allow Whitelist tetuBAL in Balancer VotingEscrow
- Fund the Integration of Boosted Pools in the 1inch Aggregation Protocol
- Allocate up to $2MM in BAL to Secure a BAL Reactor in Tokemak CoRE3
- Enable Matic<>MaticX Gauge [Polygon]
New and ongoing discussions
- [Proposal] Whitelist Index Coop’s Investment Account Gnosis Safe for Balancer’s VotingEscrow
- [Proposal] Whitelist VitaDAO Gnosis Safe multisig for Balancer’s VoteEscrow
- [PROPOSAL] Reduce Voting Lock time to 5 days
- [Proposal] Allocate up to $2MM in BAL to Secure a BAL Reactor
- [Proposal] Whitelist the Aave Mainnet Reserve Factor for Balancer’s VoteEscrow
Latest governance topics on governance forum.
Bancor
Recent blog posts and news
- Bancor 3, The Ultimate DeFi Liquidity Solution, Is Live!
- How DAOs & Token Projects Can Use Bancor 3 To Drive Healthy Liquidity
- Bancor 3 Launch Party
Closed proposals
- Proposal: Bancor 3 Pool Creation
- Proposal: Whitelist THALES with 100K BNT Trading liquidity Limit
- Proposal: Increase the trading liquidity limit in the wNXM pool from 3m BNT to 3.325m BNT
- Proposal: Increase the trading liquidity limit in the MFG pool from 200k BNT to 400k BNT
- Proposal: Bancor 3 Liquidity Mining Rewards in the wBTC Pool
- Proposal: Bancor 3 Liquidity Mining Rewards in the LINK Pool
- Proposal: Bancor 3 Liquidity Mining Rewards in the USDC Pool
- Proposal: Bancor 3 Liquidity Mining Rewards in the DAI Pool
- Proposal: Bancor 3 Liquidity Mining Rewards in the ETH Pool
- Proposal to onboard PDI with 100k BNT trading limit
- BIP22: The Bancor DAO Multisig
New and ongoing discussions
- Proposal: Bancor 3 Pool Creation
- Bancor 3 Token Support Schedule
- Proposal: Bancor 3 Liquidity Mining Rewards in the LINK Pool
- Proposal: Bancor 3 Liquidity Mining Rewards in the USDC Pool
To read more about the different proposals and take part in the decision, check out the forum.
Why does Bancor burn vBNT instead of BNT?
Compound
Recent blog posts
Closed proposals
- 106 Risk Parameter Updates for 7 Collateral Assets
- 105 Grant request for launching Compound with Aztec Connect
- 104 Update High-TVL cToken Implementations
- 103 Risk Parameter Updates for MKR and AAVE
New and ongoing discussions
Latest governance topics on governance forum.
Compound Developer Community Call — 2022–05–04:
Compound Building on the Compound Protocol:
Curve
New and ongoing discussions
- Proposal: Add the aFTMb/wFTM pool to the Gauge controller.
- Proposal to Whitelist Abracadabra mCRV Voter Contract
- Proposal: Reduce 3pool fee to 1 bps
- Proposal: Add USDD/3CRV 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
Active proposals
- dCompass S14 budget request
- MintKudos Workstream S14 Budget Request
- Moonshot Collective S14 budget request
- KERNEL S14 Budget Request
- MMM Workstream S14 Budget Request
- Public Goods Funding WS Budget Request for S14
- DAO Ops S14 Budget Request
New and ongoing discussions
- Impact Certificates [Proposals Wanted]
- Proof Of Impact [Proposals Wanted]
- Data Science @ GitcoinDAO
- Griff’s S14 voter’s guide
- Roadmap to GTC Utility
To read more about the different proposals and take part in the decision, check out the governance forum.
DAOVibes Call May 11, 2022:
Deploying Ethereum applications on a rollup chain:
Gnosis
Recent blog posts
- Introducing the Safe Guardians Program: Gnosis has voted to spin Gnosis Safe out into SafeDAO and is rewarding ecosystem contributors in a new kind of airdrop. People or DAOs that have contributed to the Gnosis Safe ecosystem can apply to become a Guardian and receive the Safe token airdrop.
Active proposals
Closed proposals
- GIP-36: Should GnosisDAO fund BuidlGuidl 3 ETH per quarter?
- GIP-40: Should Gnosis DAO support a reimbursement plan to the Hundred Finance Community in the following manner?
- GIP-38: Should GnosisDAO fund a Gnosis Chain ecosystem growth initiative?
- GIP-39: Should GnosisDAO fund the DAOstar One initiative?
- GIP-35: The target total supply should be 3M GNO?
- [redo] GIP-27: Gnosis Guild 🪐 Treasury Allocation to Gnosis Ltd
New and ongoing discussions
- Gip-45: Should Trustlines Network migrate to Gnosis Chain?
- GIP-41 Should GnosisDAO Partner with Giveth to Increased Sustainable Liquidity?
- GIP-44: Allow GNO holders to vote with invested/staked/locked positions in mainnet/gc
Find out the latest GnosisDAO proposals here.
Idle
Recent blog posts
- Idle DAO Meta-Delegate Program: first batch kickoff!
- stkIDLE Gauges & VEV: unleashing the VeToken powerhouse
There were no active proposals these weeks.
New and ongoing discussions
- [BOUNTY] RFP-18: Create a Ribbon Finance Perp tranche
- [GRANT] RFP-11: Upgrade Fee Collector
- [BOUNTY] Create a liquid stkIDLE contract
To read more about the different proposals and take part in the decision, check out the governance forum.
Index Coop
Index Coop: Implement Dynamic Quorum for Metagovernance: A dynamic quorum allows for more community participation.
DAOs are sometimes plagued by lack of broad participation in the formation, discussion, and implementation (voting for or against) of proposals. This can lead to the outsized influence of those who hold a large number of tokens. Index Coop has tried different approaches to solve the participation problem, and this proposal seeks another iteration: instituting a dynamic quorum for metagovernance. The quorum for a given vote (currently fixed at 5%) would fluctuate depending on participation, helping to ensure that, whenever participation allows, the community decides. When participation falls short, the decision-making authority of the MetaGovernance Committee remains as a failsafe. [See the discussion / View the Proposal]
“Quorum for metagovernance voting will be reduced linearly from 5% down to 0% as support increases (on a per-proposal basis) to inspire greater decentralization and allow for greater participation in Index Coop metagovernance by the community.”
Closed proposals
- [Aave-74] — Risk Parameter Updates 2022–05–05
- [Aave-73] — Renew Aave Grants DAO
- [Compound-105] — Grant request for launching Compound with Aztec Connect
- [Compound-106] — Risk Parameter Updates for 7 Collateral Assets
- [Aave-undefined] Approval of BGD contribution to Aave
- IIP-154:Delegate Aave to Governance House EOA for DPI Aave ARC listing
- IIP-153: Implement Dynamic Quorum for Metagovernance
New and ongoing discussions
- IIP-153: Implement Dynamic Quorum for Metagovernance
- IIP-141: DG — Launch the Interest Compounding ETH index ($icETH)
- Monthly Governance Reporting Thread
- INDEX Delegation Intentions and Next Steps
- IIP-154: Delegate Aave to Governance House EOA for DPI Aave ARC listing
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
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.
DAO Fundamentals with Kleros | Kleoverse:
Lido
Recent blog posts
Active proposals
- Vote on the proposed ‘Merge-ready protocol service pack’ for Lido on Ethereum
- Fund the depositor bot in Ethereum #2
Closed proposals
- Conver Binance.com BETH to stETH
- Lido adding BNB
- JUst for test
- Proposal test
- LEGO: Expand LEGO Council by adding Isidoros Passadis
- Lido for NEAR — Proposal by Everstake
New and ongoing discussions
- Proposal: last minute vote mitigation
- Increase ‘Proposal Threshold’ within Lido’s Snapshot Space
- Lido for NEAR — Proposal by Everstake
- Announcement: Onboarding for Polygon (Wave 1)
To read more about the different proposals and take part in the decision, check out the governance forum.
MakerDAO
Active Polls
- Community Greenlight Poll — ATDC (ATD Combustors)
- Community Greenlight Poll — IPCL (India Power Green Bonds)
- Ratification Poll for Monetalis Clydesdale, Liquid Bond Strategy & Execution (MIP65)
- Ratification Poll for Monetalis Lusitano, UK Green Economy SME Wholesale Lending (MIP68)
- Ratification Poll for L2-to-L1 Fast Withdrawals (MIP69)
- Ratification Poll for MIP40 Budget Process Amendment (MIP4c2-SP19)
- Ratification Poll for Strategic Happiness (SH-001) Core Unit Budget Modification (MIP40c3-SP67)
Closed Polls (2 Polls — Ended May 02)
- Community Greenlight Poll — sETH2 (Stakewise Staked ETH)
- Community Greenlight Poll — HVBANK (Huntingdon Valley Bank Loan Syndication Collateral)
Executive
- Recognized Delegate Payments, Lowering WBTC Stability Fees, and Onboarding wstETH-B — May 11, 2022 [expires June 9]
- Copy Stub For Out-Of-Schedule Executive [expires May 14]
New and ongoing discussions
- MIP40c3-SP67: Modify Core Unit Budget — Strategic Happiness (SH-001)
- MIP75c2-SP1: Onboard Task Force — Growth Task Force
- MIP39c2-SP33: Adding Lending Oversight Core Unit (LOVE-001)
- Wednesday 18th May Executive: DssCure Technical Enhancement
- Maker DeFi DAO Governance Report: A review of major DeFi DAO governance systems in the Ethereum ecosystem
Read more about the different proposals and take part in the decision.
Governance Portal, Governance Forum
Governance and Risk | Ep. 190:
mStable
Recent blog posts
- mStable Governance Updates — 9 May 2022
- ERC-4626 Meta Vaults are coming to mStable
- mStable Governance Updates — 2 May 2022
There were no proposals these weeks.
New and ongoing discussions
- [RFC] Procedure with underutilised Dials in the Emissions Controller
- [RFC] Add a dial for CVX mUSD/4Pool
- [RFC] Continuing to provide liquidity for Coinbase mUSD listing
- [RFC] H1 2022 Community Signer Rotation
To read more about the different proposals and take part in the decision, check out the governance forum.
mStable Governance Call May 2022:
Nexus Mutual
Active proposals
Discussions
- Proposal: Allocate Capital to Maple Finance
- Mutant Marketing | Third Operational Quarter Review (02/22–04/22)
- Partnership Proposal Nexus Mutual x DDDX.io
Vote on governance proposals to decide the future of the protocol here.
To read more about the different proposals and take part in the decision, check out the governance forum.
Pie DAO
Recent blog posts
Active proposals
- [Generic Proposal Gate 1] UMA KPI Options for DOUGH Staking 2.0
- UMA KPI Options for DOUGH Staking 2.0
Closed proposals
- [Generic Gate 1] BasketDAO acquisition proposal
- [Epoch-7] MerkleTree Notarization
- Revisiting Monthly Distribution to veDough Holders
New and ongoing discussions
To read more about the different proposals and take part in the decision, check out the governance forum.
The PieDAO Podcast — Into the Bakery:
PoolTogether
Recent blog posts
- Skiing, CookieTrack, and PoolTogether: PoolTogether Community Interview #25: NCookie
- Dogecoin, Cat Cafés and PoolTogetherPoolTogether Community Interview #24: SmartInvestor
- PoolTogether Community Podcast #19 with Adrien and Zdeadex from Ledger
- PoolTogether Community Podcast #18 with Sean from PoolTogether
There were no active proposals these weeks.
New and ongoing discussions
- PTIP-73: Authorize Optimism Prize Pool
- PTIP-72: single-sided POOL staking with IL protection on Bancor (former PTIP-64)
- Proposal for Adoption of One Primary Centralized CRM
To read more about the different proposals and take part in the decision, check out the governance forum.
Synthetix
Recent blog posts and news
- Synthetix Steps into the Ring — First Athletic Sponsorship
- The Mirarch release
- Futures Funding Rate Arbitrage Guide
Active proposals
- SCCP-199: Lower C-Ratio and adjust parameters for SIP-148
- SIP-236: Fix Exchange before fee reclaimation evaluation
- SIP-235: Update Issuer Modifier
Closed proposals
- SCCP-198: Adjust LUSD Wrapprs
- SCCP-196: Pause Increase in Base Inflation
- Multiply Early Staker Voting Power?
- SIP-203: Volume Source Fee
- MINIMUN OF LOAN
- SCCP-193: Lower LUSD Wrapper Burn Fee
- SIP-198: Update To Atomic Exchange Function (revote)
- SIP-229: Optimism Bridge for Synths
- SCCP-192: Futures — Lower min keeper fee from 20 sUSD to 5
- SCCP-191: Update Futures Fees Parameters
- SCCP-190: Update Fees & Atomic Volatility Circuit Breakers Parameters
- SIP-232: Core Contributor Committee Responsibilities amendment
- SIP-231: OffChain Circuit Breaker
- SIP-230: Universal Circuit Breaker
- SIP-228: Commodity Synths on Optimism
- Add sounds to the portal — similar to Caw Swap
- Simplify the voting power
- Add swap function to SNX
- Add option for staking silver
- Add option for staking gold and commodities
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: Deploy Uniswap V3 on Moonbeam: Uniswap to expand beyond the Ethereum ecosystem to Moonbeam, a Polkadot parachain.
This proposal, submitted by Blockchain at Berkeley and Nomad, hopes to secure approval to deploy Uniswap on Moonbeam, a Polkadot parachain with EVM compatibility. The major benefit of such a deployment would be expanding Uniswap beyond the Ethereum ecosystem — which would go some way towards fulfilling Uniswap’s multichain vision.
“Deploying on Moonbeam will expand the Uniswap community to include users of the Polkadot ecosystem, helping Uniswap on its journey to become a leading product in the multichain world.”
Deploying Uniswap on Moonbeam would also allow for the testing of a module developed by Gnosis and Nomad that facilitates cross-chain governance outside of the Ethereum mainnet. As the proposal states, “it is important that new chains have a trust-minimized arbitrary message passing solution to facilitate secure, decentralized governance of a deployment of Uniswap.”
Additionally, Moonbeam will contribute $2.5 million to the Uniswap Grants program to support those who are working to develop multichain experiences with Uniswap.
The proposal passed both a consensus check and a temperature check and was originally submitted on May 7; the proposal was then canceled (to update license language) and re-submitted. Voting opens again on the evening of May 12 and will end on the evening of May 18. [See the discussion / Vote!]
Active proposals
Closed proposals
New and ongoing discussions
- [Governance Proposal] Deploy Uniswap V3 on Moonbeam
- Deploy Uniswap V3 to Polygon PoS Chain
- Polygon 1bp Fee Tier
- Proposed Template for Future Cross-chain Deployment Proposals
To read more about the different proposals and take part in the decision, check out the governance forum.
Yam Finance
Closed proposals
New and ongoing discussions
- Compensation parameters
- Contributors Yam Comp Renewals
- 2022–04 — E Monthly transparency report
- Yam Design Studio
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
BanklessDAO: Season 4 Project and Guild Funding: As the title suggests, this proposal specifies the funding of projects and guilds for season 4 (which runs from May 2 through July 29) and puts it all to a vote. Funding requests were received and reviewed by the DAO’s Grants Committee, which approved and put forward the expenditures in this proposal. In total, 13 guilds (e.g. Writers Guild, Operations Guild) were funded for a total of 8,652,061 BANK and 1.2 ETH, and 15 projects (e.g. Bankless Academy, DAO Dash) for 13,363,509 BANK. The exact amounts for each are detailed in the proposal. The proposal also contains the noteworthy stipulation (see interesting post here) that 50% of funding will be held in the Grants Committee multisig until halfway through the season, at which point each project must demonstrate that they are making progress toward meeting their self-identified KPIs. (Guilds must do the same at the end of the season in order to be funded for the following season.) As links writes in the above forum post, “[t]he Grants Committee has decided to take these steps to help promote accountability and to aid us in the stewardship of the BanklessDAO treasury.” [See the discussion / View the Proposal: 81.69% voted for]
Friends with Benefits: FWB x OpenSea Partnership: With this proposal Friends with Benefits gained approval to form a multi-phase partnership with the leading NFT marketplace OpenSea. The collaborative effort aims to benefit both parties: FWB’s creative community will gain special access to the largest and most widely recognized NFT marketplace while OpenSea hopes to “deepen its connections with emerging creatives, exemplify their commitment to web3 native communities, and move NFT culture forward.” Specifically, FWB will “takeover” OpenSea’s homepage for three days this coming June, curating all content and participating in social media promotion; in August, OpenSea will sponsor an IRL exhibition at FWB Fest; and OpenSea will fund the inaugural season of a new FWB podcast. OpenSea will provide $250,000 in support of these efforts to showcase the FWB community. The proposal describes how “the partnership will decentralize the process of curation” and provides metrics by which to measure success. [View the Proposal: 98.84% voted for]
ApeCoin: Staking Pool Allocation Reloaded: This proposal, submitted in conjunction with AIP-21 (which also passed), resuscitates AIP-5, which was defeated in March because of the “absence of caps in the staking process.” The absence of caps is undesirable because it could lead to dilution of the staking pools by whales. Where AIP-21 assigns caps to the number of ApeCoin that can be staked by NFT held (BAYC, MAYC, BAKC), AIP-22 presents the total ApeCoin allocation for each staking pool and delineates the three-year staking time frame. The self-described goal of both proposals is as follows: “in order for ApeCoin to become the preferred token of web3, early NFT adopters and existing and potential ecosystem participants should be incentivized through participation in activities benefitting the APE Ecosystem.” There was significant criticism of the original proposals as well as the revised ones — see Cobie’s recent take describing the “death of staking.” [See the forum post / View the Proposal: 95.36% voted for]
Juicebox: One-time JBX distribution to each member of the reserved JBX list: The distribution JBX tokens from the treasury enables more voting power. This proposal sought to distribute one million JBX tokens to each of the 16 members of the reserved JBX list in order to give already incentivized DAO participants more voting power — and so leading to further decentralization, the proposal argues. The 16 members of the reserved list, identified by their .eth addresses in the proposal, are already trusted members of the DAO, and the 16M JBX distribution is only 9.7% of the treasury’s JBX holdings. The JBX in the DAO treasury has not been used for voting, and this proposal aims to “put more JBX to work” by distributing the tokens to those who would use them. [See the discussion / View the Proposal: 63.84% voted for]
- Poolsuite, the SoHo House of the Internet, has introduced its sibling DAO, whose membership will collectively “buy a goddamn manor”:
- Variant issues a primer on the state of web3 and the ownership economy
- Forefront creates a hilarious Governance Meltdown with Nicolas Gauge:
- Syndicate’s recent $6M raise brings its total to $28M from 300+ investors, operators, companies, partners, customers, and DAO:
- Filmmaker Kevin Smith has partnered with Legendao to launch a 5,555-piece generative art NFT collection of horror anthology:
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