Frens welcome back to the Governance Lab, your weekly source for all things StableLab, DeFi, and DAO Governance. This week, we had fierce debates over RetroPGF, Cosmos merger drama, Arbitrum continued to receive a never-ending stream of proposals, ENS looks to fund service provider streams, and much much more. Enjoy :)
At a Glance 👀
🤾♂️ Arbitrum discusses launching multiple GrantsDAOs’
💧 LidoDAO votes to extend funding for the Contributor Group
🪙 SafeDAO seeks stablecoins to become operational
🎙️ New StablePod episode w/ Justine (Optimism Foundation)
Dive in 🏊
Grants R Us
Arbitrum discusses launching a GrantsDAO
In a bid to foster ecosystem growth and independence, the Arbitrum Foundation drafted a proposal that would allocate 250k USD in support of deploying alternative grant programs. Driven by the goal of decentralizing the community's dependence on the Foundation, this initiative empowers the community to explore new channels for funding through their own GrantsDAO. The proposal details various existing avenues for support and funding (noting their dependence on the Foundation), including the Foundation Grants Program, STIP, Plurality Labs, and Questbook.
Additionally, the proposal offers guidance and recommendations to interested parties and groups in establishing these new grant programs. The aim is to ensure that they are closely aligned with the best interests of the ArbitrumDAO. Should the proposal pass, funding will be granted on a first-come-first-serve basis.
Sunny Side Up
Lido DAO votes to approve an EGG for GOOSE
The Lido Contributor Group, a group of various entities and individuals servicing the DAO, has submitted a budget request to extend their ongoing engagement. Formed in 2022, the group includes legal entities, notably Pool Maintenance Labs and Argo Technology Consulting, and dozens of freelance contractors. The primary purpose of this group is to facilitate clear contributor channels, mitigate risks, and provide a seamless way to contribute to the DAO.
In their latest proposal, appropriately titled ‘st2024’, the group of contributors is seeking a grant of 22.5M DAI and 200k LDO to continue their engagement until June 30th, 2024. The proposal outlines their scope of work, focusing on Hasu's GOOSE goals: Effective and decentralized governance, attracting the best validator set in the market, and making stETH the most widely used token. Areas of focus include Engineering Coordination, stETH Core Protocol Engineering, Validator Set Engineering for the Staking router, and more. The proposal includes a budget breakdown as follows: 2.3M for decentralized governance, 5.4M for the best validator set, 4.7M for stETH as the most used token, and 10.0M for support. Additionally, 8.6M DAI is allocated to continue a previous grant intended to further liquidity incentivization as part of the Liquidity Observation Lab. The proposal is currently live on Snapshot.
We Need Stables
SafeDAO seeks stablecoins to become operational
Andre, Head of Governance at Safe, recently shared a proposal aimed at enhancing the operational capabilities of SafeDAO. In his proposal, Andre outlines a one-time asset transfer between the DAO and the Safe Foundation. SafeDAO will exchange its ARB/OP holdings for stablecoins of equivalent value, amounting to approximately 1.3 million USD for 257K ARB and 619K OP. This funding will serve as a catalyst for various initiatives under the newly approved OBRA framework.
In a separate post, Andre provided a detailed outline of the OBRA strategies and budget. These strategies include: conducting research and implementing safe token utility, fostering a module ecosystem, increasing awareness of the safe ecosystem, researching decentralization of the safe tech stack, and enhancing governance participation. It is important to note that under OBRA, stablecoins are the sole accepted form of funding for these initiatives.
❲ Links ❳
🚀 Launches & Deployments
📑 Insights & Reports
Worldcoing: Advancing Decentralization
Real World Assets (RWA) & Stablecoin Recap Nov 2023
The State of L2s: Theory and Reality
Evidence from a Massive Online Governance Experiment
🧗 Milestones & Updates
Chaos Labs Monthly Aave Update Nov 2023
MakerDAO Risk in Review November 2023
Powerhouse Status Update
ENS DAO Protocol Economics Report November 2023
dYdX Chain Analytics and Risk Monitoring Dashboard
State of dYdX Finances Report Epoch 29
🔒 Security, Risk, & Hacks
🗞️ Miscellaneous
Lido: Economic Security Audit Ethena Labs x Chaos Labs
Osmosis x Umee Merger Proposal
Arbitrum: Establish the ‘Arbitrum Research & Development Collective’
Job Opportunity: Governance Onboarding Lead @ Optimism Foundation
❲ Proposal Tracker ❳
⛓️ Aave - Aave Governance V3 Activation
Current Results: 100% ‘YAE’ Vote Ends: Dec 14th 02:52 UTC
Quorum Req. 1.04M
💬 Osmosis - Make Osmosis the Home of Mars Protocol
Summary: This proposal aims to gain community approval for the deprecation and relocation of the Mars Hub onto Osmosis. Building upon Neutron's recent proposal request for an exclusive partnership between Mars and Neutron, this proposal offers a similar deal without the exclusive clause, further solidifying the partnership between the two protocols. The proposal suggests providing Mars with $3M USDC in installments over two years. In return, Mars would grant Osmosis 60M MARS tokens and agree to relocate the Mars Hub to Osmosis, while still retaining the ability to deploy outposts on any chain. The proposal emphasizes the strong relationship between Mars and Osmosis since the relaunch of Mars in February 2023, highlighting that a majority of Mars' TVL and token liquidity resides on Osmosis.
💬 Aave - Immunefi Request for Bounty Payouts
Summary: This proposal seeks to establish a ‘Request of Bounty Payout’ process at Aave DAO, making payouts to white hats that report critical bugs more seamless and effective. Currently, bounty payments depend on Aave’s governance proposal process, creating friction on time-sensitive matters. Under this formal process, a payout request forum post will be submitted once a month, followed by an on-chain Direct-to-AIP proposal. Since October, Aave has collaborated with Immunefi on a bug bounty program, enhancing the security of the protocol and its ecosystem.
💬 ENS - Transfer ENS Root Key Ownership to the DAO
Summary: This proposal seeks to transfer ownership of the ENS Root Key from the current multisig system to the ENS DAO, taking a significant step towards further decentralizing the ENS protocol. The ENS Root Key serves as a vital mechanism, wielding the authority to create and manage all top-level domains (excluding .eth), reverse resolutions, and implement primary domain names on L2 solutions. If approved, the proposal will empower the ENS community with increased trust and control over these critical protocol aspects.
💬 Synthetix - End SNX Token Inflation
Summary: Here, Kain Warwick, founder of Synthetix, aims to eliminate the weekly inflation of the SNX token. Since 2019, the derivatives protocol has utilized inflation on its native token to incentivize staking. However, recent developments within its ecosystem, particularly initiatives focused on buybacks and burning SNX using fees generated by its Andromeda deployment on Base, have motivated Kain to seek a halt on the inflation. The proposal underscores the detrimental nature of the inflation on the Synthetix ecosystem.
From the Lab
Delegation of UNI to Active but Underrepresented Delegates ⛓️
Our proposal to delegate 10M UNI to a batch of active delegates at Uniswap has reached the final stage. If you’re a UNI tokenholder, voting is live onchain here. 🗳️
Growing the Optimism Collective 🎙️
On the latest episode of StablePod, we’re joined by Justine, Governance Lead at the Optimism Foundation. Justine provides insight into the development and evolution of the Foundation, the challenges with introducing complexity in governance, what’s in store for the Collective in Seasons 5 and 6, and more!
SafeDAO: Community Digest November 2023 🛟
November brought another significant milestone in the ongoing development of SafeDAO governance. Stay updated with the latest insights in the community digest available here.
❲ Our Voting ❳
📆 Dec 1st → Dec 7th | 🗳️ Total Votes: 25
See our full vote history and detailed rationale HERE.
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 :)
💌 FOLLOW US
Website | Twitter | YouTube | Mirror | LinkedIn
🤝 DELEGATE TO US @ stablelab.eth
Tally | Boardroom | Linktree