👨🔬 Governance Lab #015
Lab Report #015 - Hop Msig Nominations, Uni v4, GHO Liquidity, Ajna Finance, and more
gm frens, welcome back to the Governance Lab, your weekly source for all things StableLab, DeFi, and the wonderful world of governance. Bumpy week, buckle your seatbelt. Weird stable FUD. Alts getting hit. Might only be the beginning, especially with DSR set to officially change soon. Besides that though, lots of innovations and exciting announcements. Uniswap V4 & Polygon 2.0 were announced. Summer is here, it’s starting to get hot, especially Oracle-free protocols (wrote more about this below), LSDfi, and *checks notes* hooks?
At a Glance 👀
🪝 Uniswap v4
⛓️ Polygon 2.0
🌀 GHO Liquidity Pools
🗳️ Hop Multisig Nominations
Let’s dive in 🏊
❲ The Rundown ❳
🔐 Source???
Uniswap shares codebase for v4, requests community feedback and contribution
Uniswap Labs has unveiled the initial codebase for Uniswap v4, the next evolution of the DEX protocol.
TLDR of changes:
Hooks - allows developers to input code logic in AMM pools to fully customize pool behavior with endless possibilities.
Singleton Contracts - all pools are managed using one contract, making it cheaper than ever to deploy new pools.
Governance - governance will be able to take up to a capped percentage of the withdrawal and swap fees. (each hook has its own self-defined withdrawal fee).
Licensing - V4 will be licensed under a Business Source Licensure
🗺️ Eyes on the Road…Map
Polygon announces the next iteration of the L2 scaling solution
Polygon Labs has shared a blog post detailing the upcoming upgrades and components to Polygon 2.0, a network of ZK-powered L2 chains
Over the next few weeks additional information will be shared to provide clarity on the future of the Polygon PoS chain, the changes to the architecture & stack, changes to the utility of the Polygon token, and plans for greater community governance.
🫴 Gib Liquidity
TokenLogic proposes an initial liquidity strategy for GHO
With the launch of decentralized stablecoin GHO imminent, Aave delegate TokenLogic submitted a Temp Check proposal to align on the initial liquidity strategy for GHO.
The post proposes three primary liquidity pools be deployed on Balancer v2.
GHO/bb-a-USD - ComposableStablePoolFactory
LST/GHO (80/20) - Weighted Pool Factory
GHO/LUSD - ComposableStablePoolFactory
The post also details experimenting with secondary pools deployed on other DEXs.
GHO / FRAX
GHO / MAI
GHO / OHM
Liquidity pools were selected based on various factors, including deep liquidity to sustain large trade sizes, stability of underlying tokens to sustain the $ peg, and the ability to easily route incentives.
A future governance proposal will determine the exact sizes and yields for the initial pools.
❲ Links ❳
🚀 Launches & Deployments
EigenLayer Stage-1 Launches on Mainnet
Balancer Goes Live on Polygon zkEVM
Introducing Governance Pools: Auctioning Nouns DAO Votes
Introducing Pike Finance, First Native Cross-chain Lending Market
HAI, a RAI fork, launches on testnet
📑 Insights & Reports
Some Thoughts on Oracle-Free Lending Protocols
Automated Market Makers and the Death of Money
A Case Study on Aave Protocol for University Students
Aave May Consider Adding a Second Oracle, Pyth
Uniswap Cross-chain Bridge Assessment Report
Recent Initiatives Helping Strengthen Uniswap Governance
How Uniswap v4 Affects Governance
DAO Treasury Management Strategies and Challenges
A Deep Dive into the Layer 2 Landscape
Karpatkey Analyzes the Risks of Raising the DSR
Liquid Staking and frxETH V2
How DAOs Can Improve the Delegation Model
We Need to Develop New Ways of Governing
The 5 Different Classes in LSDfi
Uni v4 Launch Reminds us of The Baseplate Thesis
Equitable Ownership and Governance in the Digital Space - Report
🧗 Milestones & Updates
Aave Grants DAO Shares May Update
MakerDAO Annualized Revenue Hits $90M
MakerDAO Votes to Decrease GUSD Parameters
Aura Finance celebrates its 1st Birthday
Convex Finance turns 2, a year in review
🔒 Security & Hacks
Aave discusses freezing CRV on v2
Sturdy Finance hacked for $800K
Flash loan attack on MakerDAO leads to $3 in profit
🗞️ Miscellaneous
VC Trio Sue Curve Founder
Lens Protocol adds Lens Improvement Proposals process on GitHub
The Base Guide to Governance Proposals
StableSummit: The Only Technical Stablecoin Conference
A tool to deploy Uniswap v3 on any EVM-based chain
📺 Podcasts & Listens
Sam MacPherson: MakerDAO’s Journey Towards SubDAOs @ ETH Prague
Stani: Stablecoins and the Future of Online Payments @ ETH Prague
Tim Beiko: Ethereum Governance Overview @ ETH Prague
Sam MacPherson: Spark Protocol on 0xResearch Podcast
❲ Proposal Watchlist ❳
Lido - Tiered Rewards Share Program
Aura Finance - Arbitrum Deployment
Balancer - Allocate Balancer’s 3 Million ARB
MakerDAO - Executive Proposal June 14 2023
❲ From the Lab ❳
Hop DAO Kicks off Multisig Nominations
On Tuesday, Kene made a forum post to initiate the community multi-sig nominations at Hop DAO. Back in January, we created a proposal to formalize the operations and election process for the community multi-sig. Now, our latest post serves as an open invitation to all Hop community members who are interested in joining to self-nominate. In a future proposal, five individuals from the community will be elected and receive compensation for their roles.
Get your nominations in!
❲ This Week’s Proposals ❳
🆕 New Proposals
🐇 Incentive Strategy Research Report of Hop Protocol Competitors
Protocol: Hop Protocol
Summary: This proposal requests a grant from Hop DAO to create a research report analyzing how competitors have approached user incentivization in order to better inform the community. The proposal is motivated by recent discussions and concerns within the community regarding the sustainability of providing incentives for many proposals at Hop Governance. A payment of $2,500 worth of HOP is requested upon submission of the deliverable.
Author: Kene
Status: 💬 Forum Post → Gathering community feedback
❲ This Week’s Voting ❳
📆 Jun 09 → Jun 15 | 🗳️ Total Votes: 22
See our full vote history and rationale here.
Lab Reports 📓
In our latest blog post, we delve into DeFi protocol Ajna Finance, an oracle-free borrowing and lending platform that offers unique features such as permissionless asset pool creation, zero protocol-level governance, and a distinctive “built-in” ecosystem grants program.
We’re thrilled to share that we have joined the Ajna community as delegates. We look forward to participating further once the protocol launches later this summer.
READ the full report.
❲ Meme ❳
I’d love to hear from you! Drop me a DM on Twitter with your thoughts, feedback, or any comments you may have about the newsletter. I write for you, the reader :)