👨🔬 Governance Lab #004
Report #004 - DAOmeter, Arbitrum, Messari Governor, RetroPGF2, ELFI, and more
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Welcome back to the Governance Lab, where we recap what the StableLab team has been up to, plus all your main governance happenings. We’re treading lightly, but there’s reason to celebrate. We launched our first product 🥹 Read more below.
This week, the SL team:
→ Launches DAOmeter
→ Applies as Delegates at Arbitrum
→ Gets added to Messari Governor
→ Funds 40 projects in RetroPGF
→ Updates plans to help list ELFI
→ Submits 19 governance votes
Let’s go 🧪
Lab Activity 🔬
❇️ DAOmeter
We’ve launched! The entire team at StableLab has been working tirelessly for over a year to launch our first product. Welcome, DAOmeter. 🍾🥳
DAOmeter is a maturity rating system that offers users and operators alike the ability to assess the maturity levels of their favorite DAOs. Current reviews include MakerDAO, Uniswap, Aave, Lido, and more. The tool measures these DAOs across categories such as Proposals, Documentation, Security, and more. To build DAOmeter, we completed extensive quantitative and qualitative research to form the maturity rating methodology. We believe the launch of this product is a huge step forward for the decentralized space and hope to kickstart the creation of decentralization governance standards across the ecosystem. DAOmeter was created as a public good and is free to use.
We’re just getting started. The team is already hard at work improving the tool based on all your feedback and comments. Feel free to like and share the post and don’t forget to join our forum.
Try it out today and let us know what you think.
🎩 Application Submitted: Arbitrum
Earlier today, Arbitrum launched its governance token to launch the Arbitrum DAO. We’ve submitted our delegate application to participate and help push governance forward at the layer 2.
If you’re an ARB holder feel free to delegate to us at stablelab.eth. 💙
🫡 Governooor
You can now find us on the Messari Governor platform under the ‘Tools’ section. With over 400+ different projects, it’s one of the largest go-to databases to find useful DAO tooling.
Special thanks to our friends at Messari & the Governor team for including us 🙏
🌱 Funding Public Goods
This week, Bobby submitted our vote to retroactively fund 40 different projects as part of Optimism’s RetroPGF2. Some of our favorites include Nethermind, Snapshot, Token Terminal, and ZachXBT. We’re honored to get the chance to participate in this recent round of retroactive funding and are already looking forward to the next one.
🧝 Helping ELFI Get Listed
In January, Prycto posted on the Element DAO forums a proposal to become the official market maker of ELFI, the protocol’s native token. With the unlocking of the token coming up, experienced market maker Prycto would help secure liquidity and tradability of the token across DeFi and CeFi. To accomplish this, Prycto requests a 1M ELFI loan for 12 months (with 2 call options). Now, the proposal has incorporated community feedback and is poised to continue in the governance process. We’ll be facilitating this agreement and handling CEX listings on behalf of Element DAO.
❲ This Week’s Proposals ❳
🆕 New Proposals
🐇 RFC: Retroactive Grants for Organic Community Contributions
Protocol: Hop Protocol
Summary: This proposal looks to create an initial compensation model for contributors at Hop DAO. Each month, community members who wish to be compensated for their work are eligible to receive a retroactive grant through a public nomination process. Those interested must submit a compensation claim that includes: a summary of the work done and the proposed compensation amount. To start, the initial pilot program will last 6 months and be funded with $30K worth of HOP. Through this financial incentive, we hope to increase community contributions at the DAO.
Author: Kene, Bobby, & Max Andrew
Status: 💬 Forum Post → Gathering community feedback
🐇 RFC: Voting System Choice for Hop DAO Elections
Protocol: Hop Protocol
Summary: In this proposal, we suggest adopting the weighted voting system as the preferred method for electing Hop DAO community members into various positions. This system will be used to fill two positions that are pending including the “Community Multi-Sig Elections” and the “Hop DAO Ambassador Program.” With this voting style, voters can support multiple candidates and give each of them a “weight” or percentage of their total votes.
Author: Kene & Bobby
Status: 💬 Forum Post → Gathering community feedback
🎠 1RC: Deploy $1 Million USDC into Diversified Staked ETH Index ($dsETH)
Protocol: 1inch
Summary: This proposal looks to invest $1M USDC from the 1inch DAO treasury into dsETH, a liquid staking derivatives index product from Index Coop. With over $17M in idle assets in the DAO treasury, we’ve submitted this proposal to put a portion of the assets to work and generate meaningful yield for the DAO. The Diversified Staked ETH Index (dsETH) is a basket of tokens comprised of rETH, wstETH, and sETH2 that rewards holders with a weighted aggregate APR. To facilitate this process, we propose transferring the $1M USDC into the community multisig where it can be used to ‘flash mint’ or acquire the tokens on behalf of the DAO, thereafter it will be returned back to the treasury.
Author: Kene & Bobby
Status: 💬 Forum Post → Gathering community feedback
Protocol: 1inch
Summary: To ensure proposals have a higher chance of passing in the final voting phase, we propose introducing a temperature check poll (Phase 3) this reduces the time and effort wasted on proposals with low support. In this temperature check poll, proposals must pass a minimum of 3 votes and a 50% majority before they can proceed.
Author: Bobby
Status: 💬 Forum Post → Gathering community feedback
✅ Completed Proposals
👻 ARC: Aave Governance Process Improvements
Results: ✅ YAE 642K AAVE 98.37%
🎠 1IP-20 1INCH Fast Track Proposal
Results: ✅ [Yes]: Implement the fast-track 18M 1INCH 100%
❲ This Week’s Voting ❳
📆 Mar 17 → Mar 23 | 🗳️ 19 Total Votes
Lab Reports 📓
DAOmeter: Our Research-Based Approach
In our latest blog post, we dive into the research that made DAOmeter possible. By using a combination of quantitative and qualitative methods, we established six categories for measuring DAO Maturity, ultimately offering users valuable insights into the strengths and weaknesses of different projects.
External Files 🗂️
❲ News ❳
BGD Labs Introduces Aave Governance v3
On Monday, Aave service provider Bored Ghost Developing, published details surrounding the much anticipated next iteration of Aave governance. In Aave Governance v3, voters stand to benefit from “extremely cheap voting”, a future-proof modular onchain system, and the inclusion of more Aave assets with governance power. In all, the proposed upgrades from BGD are mostly technical in nature and prove to be a step forward to making Aave governance more accessible and flexible for relevant stakeholders.
Blockworks Launches Grantfarm
Crypto media brand Blockworks has announced the launch of Grantfarm, a directory of bounties, grants, and RFPs from the entire crypto industry. Grant programs and opportunities have long been a staple in the space but are notoriously siloed and segmented. Users of the new tool can search for grants of all types across dozens of programs and ecosystems in one place. The product is considered a public good and is free to use.
❲ Links ❳
A Playbook for Building Decentralized Applications
Centralized dApps Through Tokenized Rebates
The DAC Manifesto
What does ownership really mean in web3?
We need more killer apps, not infrastructure
Dune Dashboard: Aave Governance Representation
❲ Meme ❳
Get in touch with the StableLab team 🔬