This post follows the RFC and approved Temperature Check for the creation of an Accountability Committee for Deployments for Uniswap DAO.
The main changes from the previous proposal are:
We propose the creation of an Accountability Committee for Deployments tasked with overseeing the operational development of deployments of Uniswap V3 on other chains.
Licensure and deployments are the areas that have generated the most governance activity. The continued launch of new chains and platforms will require ongoing oversight and attention.
License Expiry & the Accountability Committee
With the expiry of Uniswap’s BSL on April 1, 2023, prospective deployers will no longer require license exemptions voted on by Uniswap Governance. Teams wishing to utilize parts of Uniswap V3 may deploy at their own will. However, in order to be considered a part of Uniswap ecosystem, some projects will seek to obtain the “official” blessing and management of Uniswap Governance.
The initial purview of the proposed Committee will be to liaise with projects seeking to deploy Uniswap; ensure deploying projects are correctly configured; and providing a recommendation to the community on whether to approve certain deployments.
Over the past year, several projects have requested Additional Use Grants to the Uniswap community and/or requested permission to deploy Uniswap protocol to alternative chains (including L2s and alternative L1s). Often such proposals offered financial incentives for Uniswap. However, the delivery of funds has been in some cases delayed or implemented according to mechanisms that weren’t part of the agreement terms.
In order to mitigate this issue and facilitate stronger accountability practices in Uniswap, we propose the formation of an Accountability Committee tasked with the following functions:
For each proposal that advances to the on-chain Governance Proposal phase, the Committee will engage in the following activities:
The initial Committee will have 5 members and a duration of 6 months to allow committee members to begin developing practices and processes that may meaningfully carry forward into future iterations of the committee.
With the expiration of BSL on April 1, 2023, the Committee’s core focus will be correct configuration of deployment and providing recommendation to governance on deployments that may be managed by Uniswap Governance. At the end of the term the Committee will be subjected to review by the community to discuss areas of improvement and potential expansion of its scope to other kinds of partnerships beyond deployments.
We believe that there is plenty of scope for the committee to keep providing value to Uniswap community after the expiration of the BSL:
We propose that Committee members are compensated with a retainer of $3,500 per 6-month term and a fee of $6,500 for each evaluated project, paid at the end of each 6-month period. We propose a minimum of 2 committee members’ involvement in each agreement proposal.
We also propose an ad-hoc / discretionary budget of $1,000 per committee member to support any legal fees incurred by the team.
Assuming the Committee will review 2 proposals each term, the maximum estimated budget for the first iteration of the Accountability committee is $87,500 for the first 6 months, and $170,000 for a year.
The need for an Accountability role in Uniswap DAO was crystalized in the first Uniswap Delegate Forum that Uniswap Foundation and Other Internet hosted in October 2022, following the publication of OI’s accountability report for Uniswap, which explored at length the legal, social and on-chain accountability mechanisms available to Uniswap. The Forum led to the creation of a dedicated Accountability Working Group to address Uniswap DAO’s accountability challenges.
As observed in the report, at present Uniswap’s strongest accountability measure in the context of licensing and partnership agreements is the Business Source License, which however has limited application toward enforcing the terms of an agreement and the delivery of promised funds after a proposal has been executed.
Establishing and formalizing an accountability role within Uniswap, with a clear mandate and responsibilities, will greatly improve accountability toward the DAO, avoid repeating past episodes of missing or delayed funds, and overall facilitate the operational autonomy of the DAO going forward. We also plan to leverage work on the cross-chain bridge assessment group and liaise with them in security assessments.
We initially proposed 5 committee members that were participants in the accountability working group that Other Internet ran at the beginning of the year. Following the feedback from the community, we supported Uniswap DAO contributors and delegates nominating themselves for a position on the committee. The committee size is capped at 5 members, at least for the duration of the trial period. The goal of the cap is to keep the costs in check, scale manageable, and committee members accountable.
Desired criteria for committee membership include:
The committee was ratified by the Uniswap community in the Temperature Check phase of this proposal using Approval Voting. One of the selected delegates had to step down and has been replaced by Raf Solari. Uniswap’s first Accountability Committee is composed by the following delegates:
Doo Wan Nam (COO at StableLab) @Doo_Stablelab
Experience: Professional delegate at StableNode across major DeFi protocols, including MakerDAO, Optimism, Aave, 1inch, Balancer, Element, InstaDapp, Hop. Previously spent 3.5 years at the Maker Foundation.
Past Uniswap Activity: Participation in an Accountability Working Group that shipped Proposal Template 2.0 - Upgrade for Deployments & Agreements
Jun Sun (Governance lead at Pennblockchain/FranklinDAO) @pennblockchain
Experience: Governance Lead at Penn Blockchain, Uniswap delegate for 2 years, Delegate at Compound, Aave, MakerDAO, etc.
Relevant Uniswap Experience: Helped draft, steward, and submit cross-chain deployment proposals on Boba, zkSync, and Kava chains. Co-authored a research paper Deep Diving into Uniswap's Governance with recommendations on reinvigorating governance activity. Active participation in cross-chain governance forum discussions and proposals.
Kendra Leong (Governance at she256) @kendraleong
Experience: Professional delegate at Uniswap, Compound, ENS, Hop, and Optimism for crypto nonprofit She256. Prior experience as General Counsel. Familiarity with enterprise risk management structures and creating accountability within transactional proposal processes. Previously Legal Cybersecurity Liaison to the White House.
Relevant Uniswap Experience: Participation in Uniswap votes on behalf of She256 since 2021.
Raf Solari (Co-Founder & CTO at Tally) @rafaelsolari
Experience: Senior technical architect and cross-chain governance expert, CTO at Tally. High degree of understanding of different governance processes and accountability procedures across DAOs.
Relevant Uniswap Experience: External technical advisor on UGM bridge evaluation process.
Kydo (Lead at Stanford Blockchain Club) @kydo
Experience: Vice President of Stanford Blockchain Club, programming committee member for Stanford DAO Workshop, co-organizer for CEE246A class at Stanford on crypto entrepreneurship. Previously Kydo contributed to Llama, Gitcoin, and FWB.
Relevant Uniswap Experience: Participation in an Accountability Working Group that shipped Proposal Template 2.0 - Upgrade for Deployments & Agreements. Leading MMA design for cross-chain messaging.
For more details on the selection and voting process, see the Temperature Check here.
We ask that delegates and community members participating in this vote and the activities of the committee abide by the following points emerged in the previous discussion, that form the normative touchstones of this first iteration of the committee, and may be ratified as part of the bylaws of the committee by future governance decisions.
https://docs.google.com/document/d/13CBE5KZSG9c09Y2M1cp4v_ejemLAcouaLxRKPbD_h5s/edit
This proposal is put forward by Uniswap Agreements & Accountability working group — an initiative stewarded by Other Internet with the participation of Uniswap Delegates and Uniswap Foundation.
Laura Lotti, [email protected]
Kendra Leong, [email protected]
Doo Wan Nam, [email protected]
Jun Sun, [email protected]
This post follows the RFC and approved Temperature Check for the creation of an Accountability Committee for Deployments for Uniswap DAO.
The main changes from the previous proposal are:
We propose the creation of an Accountability Committee for Deployments tasked with overseeing the operational development of deployments of Uniswap V3 on other chains.
Licensure and deployments are the areas that have generated the most governance activity. The continued launch of new chains and platforms will require ongoing oversight and attention.
License Expiry & the Accountability Committee
With the expiry of Uniswap’s BSL on April 1, 2023, prospective deployers will no longer require license exemptions voted on by Uniswap Governance. Teams wishing to utilize parts of Uniswap V3 may deploy at their own will. However, in order to be considered a part of Uniswap ecosystem, some projects will seek to obtain the “official” blessing and management of Uniswap Governance.
The initial purview of the proposed Committee will be to liaise with projects seeking to deploy Uniswap; ensure deploying projects are correctly configured; and providing a recommendation to the community on whether to approve certain deployments.
Over the past year, several projects have requested Additional Use Grants to the Uniswap community and/or requested permission to deploy Uniswap protocol to alternative chains (including L2s and alternative L1s). Often such proposals offered financial incentives for Uniswap. However, the delivery of funds has been in some cases delayed or implemented according to mechanisms that weren’t part of the agreement terms.
In order to mitigate this issue and facilitate stronger accountability practices in Uniswap, we propose the formation of an Accountability Committee tasked with the following functions:
For each proposal that advances to the on-chain Governance Proposal phase, the Committee will engage in the following activities:
The initial Committee will have 5 members and a duration of 6 months to allow committee members to begin developing practices and processes that may meaningfully carry forward into future iterations of the committee.
With the expiration of BSL on April 1, 2023, the Committee’s core focus will be correct configuration of deployment and providing recommendation to governance on deployments that may be managed by Uniswap Governance. At the end of the term the Committee will be subjected to review by the community to discuss areas of improvement and potential expansion of its scope to other kinds of partnerships beyond deployments.
We believe that there is plenty of scope for the committee to keep providing value to Uniswap community after the expiration of the BSL:
We propose that Committee members are compensated with a retainer of $3,500 per 6-month term and a fee of $6,500 for each evaluated project, paid at the end of each 6-month period. We propose a minimum of 2 committee members’ involvement in each agreement proposal.
We also propose an ad-hoc / discretionary budget of $1,000 per committee member to support any legal fees incurred by the team.
Assuming the Committee will review 2 proposals each term, the maximum estimated budget for the first iteration of the Accountability committee is $87,500 for the first 6 months, and $170,000 for a year.
The need for an Accountability role in Uniswap DAO was crystalized in the first Uniswap Delegate Forum that Uniswap Foundation and Other Internet hosted in October 2022, following the publication of OI’s accountability report for Uniswap, which explored at length the legal, social and on-chain accountability mechanisms available to Uniswap. The Forum led to the creation of a dedicated Accountability Working Group to address Uniswap DAO’s accountability challenges.
As observed in the report, at present Uniswap’s strongest accountability measure in the context of licensing and partnership agreements is the Business Source License, which however has limited application toward enforcing the terms of an agreement and the delivery of promised funds after a proposal has been executed.
Establishing and formalizing an accountability role within Uniswap, with a clear mandate and responsibilities, will greatly improve accountability toward the DAO, avoid repeating past episodes of missing or delayed funds, and overall facilitate the operational autonomy of the DAO going forward. We also plan to leverage work on the cross-chain bridge assessment group and liaise with them in security assessments.
We initially proposed 5 committee members that were participants in the accountability working group that Other Internet ran at the beginning of the year. Following the feedback from the community, we supported Uniswap DAO contributors and delegates nominating themselves for a position on the committee. The committee size is capped at 5 members, at least for the duration of the trial period. The goal of the cap is to keep the costs in check, scale manageable, and committee members accountable.
Desired criteria for committee membership include:
The committee was ratified by the Uniswap community in the Temperature Check phase of this proposal using Approval Voting. One of the selected delegates had to step down and has been replaced by Raf Solari. Uniswap’s first Accountability Committee is composed by the following delegates:
Doo Wan Nam (COO at StableLab) @Doo_Stablelab
Experience: Professional delegate at StableNode across major DeFi protocols, including MakerDAO, Optimism, Aave, 1inch, Balancer, Element, InstaDapp, Hop. Previously spent 3.5 years at the Maker Foundation.
Past Uniswap Activity: Participation in an Accountability Working Group that shipped Proposal Template 2.0 - Upgrade for Deployments & Agreements
Jun Sun (Governance lead at Pennblockchain/FranklinDAO) @pennblockchain
Experience: Governance Lead at Penn Blockchain, Uniswap delegate for 2 years, Delegate at Compound, Aave, MakerDAO, etc.
Relevant Uniswap Experience: Helped draft, steward, and submit cross-chain deployment proposals on Boba, zkSync, and Kava chains. Co-authored a research paper Deep Diving into Uniswap's Governance with recommendations on reinvigorating governance activity. Active participation in cross-chain governance forum discussions and proposals.
Kendra Leong (Governance at she256) @kendraleong
Experience: Professional delegate at Uniswap, Compound, ENS, Hop, and Optimism for crypto nonprofit She256. Prior experience as General Counsel. Familiarity with enterprise risk management structures and creating accountability within transactional proposal processes. Previously Legal Cybersecurity Liaison to the White House.
Relevant Uniswap Experience: Participation in Uniswap votes on behalf of She256 since 2021.
Raf Solari (Co-Founder & CTO at Tally) @rafaelsolari
Experience: Senior technical architect and cross-chain governance expert, CTO at Tally. High degree of understanding of different governance processes and accountability procedures across DAOs.
Relevant Uniswap Experience: External technical advisor on UGM bridge evaluation process.
Kydo (Lead at Stanford Blockchain Club) @kydo
Experience: Vice President of Stanford Blockchain Club, programming committee member for Stanford DAO Workshop, co-organizer for CEE246A class at Stanford on crypto entrepreneurship. Previously Kydo contributed to Llama, Gitcoin, and FWB.
Relevant Uniswap Experience: Participation in an Accountability Working Group that shipped Proposal Template 2.0 - Upgrade for Deployments & Agreements. Leading MMA design for cross-chain messaging.
For more details on the selection and voting process, see the Temperature Check here.
We ask that delegates and community members participating in this vote and the activities of the committee abide by the following points emerged in the previous discussion, that form the normative touchstones of this first iteration of the committee, and may be ratified as part of the bylaws of the committee by future governance decisions.
https://docs.google.com/document/d/13CBE5KZSG9c09Y2M1cp4v_ejemLAcouaLxRKPbD_h5s/edit
This proposal is put forward by Uniswap Agreements & Accountability working group — an initiative stewarded by Other Internet with the participation of Uniswap Delegates and Uniswap Foundation.
Laura Lotti, [email protected]
Kendra Leong, [email protected]
Doo Wan Nam, [email protected]
Jun Sun, [email protected]
Committee members have proven themself as aligned contributors, structure is sound, and this handles a critically important domain at reasonable cost.
Committee members have proven themself as aligned contributors, structure is sound, and this handles a critically important domain at reasonable cost.
This is interesting. I featured this on the first edition of UniSwap Vibes. You can check it out on twitter (search #uniswapvibes)
This is interesting. I featured this on the first edition of UniSwap Vibes. You can check it out on twitter (search #uniswapvibes)
Fringe Finance is offering the Uniswap DAO to open a line of credit on the platform that will allow the DAO to access up to $49,345,384.00 in $USDC to be utilized at the discretion of the DAO.
Abstract:
Fringe Finance is offering the Uniswap DAO to open a line of credit on the platform that will allow the DAO to access up to $49,345,384.00 in $USDC to be utilized at the discretion of the DAO.
Abstract:
Fringe Finance is a decentralized money market designed to unlock the capital spread in crypto assets regardless of their capitalization and supported networks.
Recently Fringe Finance has integrated $UNI as a collateral asset on the platform that allows $UNI holders to access $USDC loans while benefiting from the below described features of the Fringe Finance platform.
Motivation:
Fringe Finance has already integrated $UNI as a collateral asset to borrow USDC.
Fringe Finance provides a useful borrowing option that can be used by both retail users and the DAO’s treasury.
Specification:
Steps:
About Fringe Finance:
We‘re partners with projects such as Polygon, Chainlink, REN, Elrond, Bancor, IoTeX, Lido, and others.
Fringe Finance has been audited by HashEx.
On Fringe, borrowers deposit collateral against which they may take out loans in a select set of the most liquid and reliable USD stablecoins. The resultant benefit for borrowers on Fringe Finance is that they have access to deep, unfragmented capital pools from which to borrow. This significantly reduces both the interest rate slippage they can expect when taking out a loan, in addition to reducing interest rate volatility over the course of their loan.
Fringe’s depth and concentration of lending capital liquidity also benefit lenders, as it similarly reduces the interest rate slippage they can expect to experience when depositing capital as well as reducing fluctuations in the interest paid on their capital. This indirectly benefits borrowers, as lending on Fringe becomes more attractive, resulting in more capital being available at lower interest rates.
Additional indirect benefit for borrowers is that Fringe employs empirically sound custom algorithms to determine lending parameters to maximize platform stability. This attracts lenders to the platform and therefore results in greater capital available for borrowers.
Fringe Finance is offering the Uniswap DAO to open a line of credit on the platform that will allow the DAO to access up to $49,345,384.00 in $USDC to be utilized at the discretion of the DAO.
Abstract:
Fringe Finance is a decentralized money market designed to unlock the capital spread in crypto assets regardless of their capitalization and supported networks.
Recently Fringe Finance has integrated $UNI as a collateral asset on the platform that allows $UNI holders to access $USDC loans while benefiting from the below described features of the Fringe Finance platform.
Motivation:
Fringe Finance has already integrated $UNI as a collateral asset to borrow USDC.
Fringe Finance provides a useful borrowing option that can be used by both retail users and the DAO’s treasury.
Specification:
Steps:
About Fringe Finance:
We‘re partners with projects such as Polygon, Chainlink, REN, Elrond, Bancor, IoTeX, Lido, and others.
Fringe Finance has been audited by HashEx.
On Fringe, borrowers deposit collateral against which they may take out loans in a select set of the most liquid and reliable USD stablecoins. The resultant benefit for borrowers on Fringe Finance is that they have access to deep, unfragmented capital pools from which to borrow. This significantly reduces both the interest rate slippage they can expect when taking out a loan, in addition to reducing interest rate volatility over the course of their loan.
Fringe’s depth and concentration of lending capital liquidity also benefit lenders, as it similarly reduces the interest rate slippage they can expect to experience when depositing capital as well as reducing fluctuations in the interest paid on their capital. This indirectly benefits borrowers, as lending on Fringe becomes more attractive, resulting in more capital being available at lower interest rates.
Additional indirect benefit for borrowers is that Fringe employs empirically sound custom algorithms to determine lending parameters to maximize platform stability. This attracts lenders to the platform and therefore results in greater capital available for borrowers.
**
Fringe Finance is offering the Uniswap DAO to open a line of credit on the platform that will allow the DAO to access up to $49,345,384.00 in $USDC to be utilized at the discretion of the DAO.
Abstract:
Fringe Finance is a decentralized money market designed to unlock the capital spread in crypto assets regardless of their capitalization and supported networks.
Recently Fringe Finance has integrated $UNI as a collateral asset on the platform that allows $UNI holders to access $USDC loans while benefiting from the below described features of the Fringe Finance platform.
Motivation:
Fringe Finance has already integrated $UNI as a collateral asset to borrow USDC.
Fringe Finance provides a useful borrowing option that can be used by both retail users and the DAO’s treasury.
Specification:
Steps:
About Fringe Finance:
We‘re partners with projects such as Polygon, Chainlink, REN, Elrond, Bancor, IoTeX, Lido, and others.
Fringe Finance has been audited by HashEx.
On Fringe, borrowers deposit collateral against which they may take out loans in a select set of the most liquid and reliable USD stablecoins. The resultant benefit for borrowers on Fringe Finance is that they have access to deep, unfragmented capital pools from which to borrow. This significantly reduces both the interest rate slippage they can expect when taking out a loan, in addition to reducing interest rate volatility over the course of their loan.
Fringe’s depth and concentration of lending capital liquidity also benefit lenders, as it similarly reduces the interest rate slippage they can expect to experience when depositing capital as well as reducing fluctuations in the interest paid on their capital. This indirectly benefits borrowers, as lending on Fringe becomes more attractive, resulting in more capital being available at lower interest rates.
Additional indirect benefit for borrowers is that Fringe employs empirically sound custom algorithms to determine lending parameters to maximize platform stability. This attracts lenders to the platform and therefore results in greater capital available for borrowers.
**
Fringe Finance is offering the Uniswap DAO to open a line of credit on the platform that will allow the DAO to access up to $49,345,384.00 in $USDC to be utilized at the discretion of the DAO.
Abstract:
Fringe Finance is offering the Uniswap DAO to open a line of credit on the platform that will allow the DAO to access up to $49,345,384.00 in $USDC to be utilized at the discretion of the DAO.
Abstract:
Fringe Finance is a decentralized money market designed to unlock the capital spread in crypto assets regardless of their capitalization and supported networks.
Recently Fringe Finance has integrated $UNI as a collateral asset on the platform that allows $UNI holders to access $USDC loans while benefiting from the below described features of the Fringe Finance platform.
Motivation:
Fringe Finance has already integrated $UNI as a collateral asset to borrow USDC.
Fringe Finance provides a useful borrowing option that can be used by both retail users and the DAO’s treasury.
Specification:
Steps:
About Fringe Finance:
We‘re partners with projects such as Polygon, Chainlink, REN, Elrond, Bancor, IoTeX, Lido, and others.
Fringe Finance has been audited by HashEx.
On Fringe, borrowers deposit collateral against which they may take out loans in a select set of the most liquid and reliable USD stablecoins. The resultant benefit for borrowers on Fringe Finance is that they have access to deep, unfragmented capital pools from which to borrow. This significantly reduces both the interest rate slippage they can expect when taking out a loan, in addition to reducing interest rate volatility over the course of their loan.
Fringe’s depth and concentration of lending capital liquidity also benefit lenders, as it similarly reduces the interest rate slippage they can expect to experience when depositing capital as well as reducing fluctuations in the interest paid on their capital. This indirectly benefits borrowers, as lending on Fringe becomes more attractive, resulting in more capital being available at lower interest rates.
Additional indirect benefit for borrowers is that Fringe employs empirically sound custom algorithms to determine lending parameters to maximize platform stability. This attracts lenders to the platform and therefore results in greater capital available for borrowers.
Fringe Finance is offering the Uniswap DAO to open a line of credit on the platform that will allow the DAO to access up to $49,345,384.00 in $USDC to be utilized at the discretion of the DAO.
Abstract:
Fringe Finance is a decentralized money market designed to unlock the capital spread in crypto assets regardless of their capitalization and supported networks.
Recently Fringe Finance has integrated $UNI as a collateral asset on the platform that allows $UNI holders to access $USDC loans while benefiting from the below described features of the Fringe Finance platform.
Motivation:
Fringe Finance has already integrated $UNI as a collateral asset to borrow USDC.
Fringe Finance provides a useful borrowing option that can be used by both retail users and the DAO’s treasury.
Specification:
Steps:
About Fringe Finance:
We‘re partners with projects such as Polygon, Chainlink, REN, Elrond, Bancor, IoTeX, Lido, and others.
Fringe Finance has been audited by HashEx.
On Fringe, borrowers deposit collateral against which they may take out loans in a select set of the most liquid and reliable USD stablecoins. The resultant benefit for borrowers on Fringe Finance is that they have access to deep, unfragmented capital pools from which to borrow. This significantly reduces both the interest rate slippage they can expect when taking out a loan, in addition to reducing interest rate volatility over the course of their loan.
Fringe’s depth and concentration of lending capital liquidity also benefit lenders, as it similarly reduces the interest rate slippage they can expect to experience when depositing capital as well as reducing fluctuations in the interest paid on their capital. This indirectly benefits borrowers, as lending on Fringe becomes more attractive, resulting in more capital being available at lower interest rates.
Additional indirect benefit for borrowers is that Fringe employs empirically sound custom algorithms to determine lending parameters to maximize platform stability. This attracts lenders to the platform and therefore results in greater capital available for borrowers.
**
Fringe Finance is offering the Uniswap DAO to open a line of credit on the platform that will allow the DAO to access up to $49,345,384.00 in $USDC to be utilized at the discretion of the DAO.
Abstract:
Fringe Finance is a decentralized money market designed to unlock the capital spread in crypto assets regardless of their capitalization and supported networks.
Recently Fringe Finance has integrated $UNI as a collateral asset on the platform that allows $UNI holders to access $USDC loans while benefiting from the below described features of the Fringe Finance platform.
Motivation:
Fringe Finance has already integrated $UNI as a collateral asset to borrow USDC.
Fringe Finance provides a useful borrowing option that can be used by both retail users and the DAO’s treasury.
Specification:
Steps:
About Fringe Finance:
We‘re partners with projects such as Polygon, Chainlink, REN, Elrond, Bancor, IoTeX, Lido, and others.
Fringe Finance has been audited by HashEx.
On Fringe, borrowers deposit collateral against which they may take out loans in a select set of the most liquid and reliable USD stablecoins. The resultant benefit for borrowers on Fringe Finance is that they have access to deep, unfragmented capital pools from which to borrow. This significantly reduces both the interest rate slippage they can expect when taking out a loan, in addition to reducing interest rate volatility over the course of their loan.
Fringe’s depth and concentration of lending capital liquidity also benefit lenders, as it similarly reduces the interest rate slippage they can expect to experience when depositing capital as well as reducing fluctuations in the interest paid on their capital. This indirectly benefits borrowers, as lending on Fringe becomes more attractive, resulting in more capital being available at lower interest rates.
Additional indirect benefit for borrowers is that Fringe employs empirically sound custom algorithms to determine lending parameters to maximize platform stability. This attracts lenders to the platform and therefore results in greater capital available for borrowers.
**
