👨🔬 Governance Lab #057
Lab Report #057 - Lido Alliance, PureDAI, Orbit Renewal, Arbitrum Marketing Program, and more
gm frens 👋
welcome back to the Governance Lab, your weekly source for all things StableLab, DeFi, and DAO Governance.
At a Glance 👀
💧 Lido DAO looks to launch the Lido Alliance
🏦 Rune announces plans for PureDAI
👻 Aave DAO discusses Orbit Program Renewal
💙 Arbitrum DAO discusses Short-Term Marketing Program
Let’s dive in 🏊
Building Alliance
Lido DAO proposes the Lido Alliance
Lido DAO is in discussions to form the “Lido Alliance”, a systematic framework to identify and recognize projects that share Lido's mission of preserving Ethereum's decentralization, accessibility, and resistance to censorship. The proposal, written by Steakhouse, outlines a wishlist for potential members, including staking/restaking protocols, permissionless liquid restaking protocols, pre-confirmation services, and other AVS protocols. To accomplish the Alliance’s goals, a working group will form to facilitate and guide these projects through the DAO’s governance process, ensuring they remain aligned with its missions and vision.
Pure Stablecoins
Rune announces PureDAI, a truly decentralized stablecoin
On Wednesday, Rune shared a forum post announcing plans to overcome the stablecoin trilemma by introducing a more decentralized stablecoin, dubbed PureDAI. In his post, Rune details the ongoing challenge of building a robust and truly decentralized stablecoin that can scale to serve the world.
To overcome this challenge, Rune suggests introducing two new stablecoins as part of the Endgame:
NewStable: The main successor to DAI, focused on growth, yield, and resilience. It will take over DAI's RWA and tradfi integrations and eventually have a freeze function for regulatory compliance. DAI holders can upgrade to NewStable at a 1:1 ratio.
PureDai: A return to DAI’s ideological roots, featuring only decentralized collateral like ETH, a free-floating peg, and no governance or budgets. It will be released in a few years as an immutable, independent system. DAI holders will be able to upgrade to PureDAI.
Rune states he will share more details on this multi-year-long plan in follow-up posts.
Stay in Orbit
Aave Chan Initiative proposes renewal of Orbit program
The Aave Chan Initiative submitted an ARFC to renew Orbit, a program designed to compensate recognized delegates at Aave DAO. The proposal aims to continue recognizing the value delegates bring to the decentralization and diversity of the Aave DAO. Eligible delegates include, EzR3al, StableLab, Saucy Block, and Areta.
With the transition to Governance V3 and the introduction of gasless voting via Gelato integration, the proposal suggests discontinuing the general gas rebate program. However, targeted gas rebates for proposal creation and payload deployment activities would be maintained. The renewal would cover the period from February 5th to May 13th, 2024, with a budget of 60,000 GHO and 3.381 ETH.
❲ Links ❳
🚀 Launches & Deployments
GMX Delegation Week
Introducing the Connext Governance Task Force
📑 Insights & Reports
Memecoins > Governance Tokens
Spark, the first SubDAO
Exploring the Restaking Ecosystem
Wintermute DeFi Governance Digest: May 2024 | Week 2
🧗 Milestones & Updates
reGOOSE: An Update to Lido DAO GOOSE Goals
Safe <> Gnosis Joint Treasury April 2024 Report
Optimism: Big Picture - The Grants Council
Uniswap Monthly Financial Report & Analysis - April ‘24
Ethena 2024 Roadmap: The Holy Grail: Internet Money
🔒 Security, Risk, & Hacks
Sonne Protocol $20M Governance Exploit
Lending / Borrowing DeFi Attacks
Gitcoin PGN Shutdown - A Recap
🗞️ Miscellaneous
My Next Step: Founder, Not CEO
Euler V2 Overview
LayerZero: Protocol RFP
Compound: Suggestions for the Creation of Governance Support Working Group
Arbitrum: Creation of An Arbitrum DAO Budget
Optimism S5 Retro Governance Participation Rewards
Optimism S5 Missions v2 Retrospective
Optimism S6 Reflection Period Guide
Optimism S6 Code of Conduct Council Renewal
Optimism S6 Intents Ratification
Optimism S6 Missions v2.5
📺 Podcasts & Listens
Optimism S5 Recap and S6 Preview w/ Justine (Optimism Foundation)
Stani and Emilio - Aave’s Ambitious 2030 Plan on Leviathan News
❲ Proposal Tracker ❳
💬 DISCUSSION | Arbitrum - Establish a Short Term Marketing Program
Summary: This proposal aims to establish a short-term marketing program to amplify upcoming incentive campaigns at Arbitrum. Key initiatives include a discoverability page, unified branding and messaging, comprehensive content strategies, and expanding official DAO social channels. The proposal outlines roles for an Advisory Council, Marketing Agency (Rogue House), Program Manager (404 DAO), and Multisig Signers. The proposal requests a total budget of 238.5K ARB over 3 months.
💬 DISCUSSION | Morpho - Introducing Morpho Olympics: Rewarding MetaMorpho Vault Curators
Summary: This proposal seeks to introduce the Morpho Olympics program, a grant program awarding up to 10M MORPHO tokens as grants to MetaMorpho vault curators. According to the proposal, the rationale is to incentivize curation, align curators with Morpho's success, and provide the curators with resources to negotiate with third parties.
💬 DISCUSSION | Balancer - Deploy Balancer on Fraxtal
Summary: This proposal aims to deploy Balancer on the Fraxtal Network, an EVM-equivalent modular L2 built on the OP stack. According to the proposal, deploying on Fraxtal would give Balancer access to a growing ecosystem, enable integration with the Flox program to drive liquidity, and position Balancer as core infrastructure. The proposal asks the Balancer community to authorize the deployment and to collaborate on finalizing a deployment timeline.
💬 DISCUSSION | Jito - Incentive Budget and Framework for Strategic Growth
Summary: Here, JIP 2 proposes to allocate 7.5M JTO (0.75% of supply) to the Jito Foundation to spend on discretionary liquidity mining programs. Based on Gauntlet's TVL-based evaluation framework and user behavior studies, the program aims to maximize JitoSOL liquidity and growth. The program’s intended outcomes include sustainable TVL growth, clear success tracking, and increased JitoSOL dominance.
From the Lab
Uniswap Delegate Rewards Cycle 1: Snapshot Approved
Earlier this week, our Snapshot proposal to launch Uniswap DAO delegate rewards was overwhelmingly approved by the community. We now invite members interested in helping shape the future of this program to apply (must meet certain requirements). Delegates who have already applied for Cycle 1 include Karpatkey, Keyrock, PGov, Franklin DAO, and others.
📥 Submit your application by May 20th HERE.
❲ Our Voting ❳
📆 May 10 → May 16 | 🗳️ Total Votes: 13
See our full vote history and detailed rationale HERE.
Meme
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