Voting Options: Allocate $250k, Don’t Allocate, Abstain —--------------------------------------
This post intends to accomplish two purposes:
Publicly signal the UAC’s intent to eventually allocate $250k from the incentives discretionary budget to the Plasma deployment. This is tranche 1.
Collaborate with Plasma to request an additional $250k from the treasury via the customary governance path (RFC, Snapshot, Onchain vote). This vote pertains to tranche 2.
Goal: Plasma allocates $3-5M in XPL incentives over 6 months, while Uniswap co-incentivizes with $500k UNI.
Plasma’s commitment: Deploy up to $5M in incentives over six months, tied to the XPL token price. A minimum of $500k/month is guaranteed, ensuring at least $3 million total if XPL declines.
Uniswap’s discretionary tranche ($250k): Allocated from the UAC’s incentives discretionary budget. Currently unallocated due to pending legal review.
Catch-up mechanism: Once the UAC is able, it will “catch up” to Plasma by distributing the full $250k within the remaining months (e.g. if legal review takes 1 month, the UAC will allocate $50k/month over 5 months instead of $41.6k/month over 6).
Parallel Plasma incentives: Plasma agreed to begin allocating incentives on day-one, before the DAO is able to allocate capital on its end. XPL incentives have been live since September 25 and can be viewed here. TVL has currently reached $56M, with over $1B in volume since launch.
Second tranche ($250k): The discretionary budget has a $250k cap, so we are requesting a $250k match from the DAO treasury. This snapshot pertains to the second tranche.
Once able, Uniswap will begin abiding by the following allocation:
XPL/USD₮0 - 20% of incentives
USDe/USD₮0 - 25% of incentives
ETH/USD₮0 - 25% of incentives
weETH/USD₮0 - 20% of incentives
XAUT/USD₮0 - 10% of incentives
Uniswap's allocation will differ from that of Plasma, which has a heavy focus on XPL/USD₮0:
XPL/USD₮0 - 70% of incentives
ETH/USD₮0 - 10% of incentives
weETH/USD₮0 - 10% of incentives
XAUT/USD₮0 - 10% of incentives
Some of the Plasma incentives may also be allocated to pools focused on ecosystem-native assets such as Axis, Daylight, Uranium Digital, and other unannounced issuers.
Voting Options: Allocate $250k, Don’t Allocate, Abstain —--------------------------------------
This post intends to accomplish two purposes:
Publicly signal the UAC’s intent to eventually allocate $250k from the incentives discretionary budget to the Plasma deployment. This is tranche 1.
Collaborate with Plasma to request an additional $250k from the treasury via the customary governance path (RFC, Snapshot, Onchain vote). This vote pertains to tranche 2.
Goal: Plasma allocates $3-5M in XPL incentives over 6 months, while Uniswap co-incentivizes with $500k UNI.
Plasma’s commitment: Deploy up to $5M in incentives over six months, tied to the XPL token price. A minimum of $500k/month is guaranteed, ensuring at least $3 million total if XPL declines.
Uniswap’s discretionary tranche ($250k): Allocated from the UAC’s incentives discretionary budget. Currently unallocated due to pending legal review.
Catch-up mechanism: Once the UAC is able, it will “catch up” to Plasma by distributing the full $250k within the remaining months (e.g. if legal review takes 1 month, the UAC will allocate $50k/month over 5 months instead of $41.6k/month over 6).
Parallel Plasma incentives: Plasma agreed to begin allocating incentives on day-one, before the DAO is able to allocate capital on its end. XPL incentives have been live since September 25 and can be viewed here. TVL has currently reached $56M, with over $1B in volume since launch.
Second tranche ($250k): The discretionary budget has a $250k cap, so we are requesting a $250k match from the DAO treasury. This snapshot pertains to the second tranche.
Once able, Uniswap will begin abiding by the following allocation:
XPL/USD₮0 - 20% of incentives
USDe/USD₮0 - 25% of incentives
ETH/USD₮0 - 25% of incentives
weETH/USD₮0 - 20% of incentives
XAUT/USD₮0 - 10% of incentives
Uniswap's allocation will differ from that of Plasma, which has a heavy focus on XPL/USD₮0:
XPL/USD₮0 - 70% of incentives
ETH/USD₮0 - 10% of incentives
weETH/USD₮0 - 10% of incentives
XAUT/USD₮0 - 10% of incentives
Some of the Plasma incentives may also be allocated to pools focused on ecosystem-native assets such as Axis, Daylight, Uranium Digital, and other unannounced issuers.
looking forward to supporting Uniswap v3 on Plasma soon with https://arrakis.finance/.
It would be great if we could also get Uniswap v4 deployed on Plasma. Given its stablecoin focus, having the ability to deploy our custom hooks that enable lending markets to be integrated for Uni LPs would be a game changer. Is this planned at some point?
looking forward to supporting Uniswap v3 on Plasma soon with https://arrakis.finance/.
It would be great if we could also get Uniswap v4 deployed on Plasma. Given its stablecoin focus, having the ability to deploy our custom hooks that enable lending markets to be integrated for Uni LPs would be a game changer. Is this planned at some point?
guud proposal - v bullish plasma
guud proposal - v bullish plasma
Good to hear about the Arrakis integration! There may be a push in the future to deploy v4 on Plasma soon. More than likely, a v4 deployment would be conducted by the Oku team and is dependent on demand from Plasma directly as they would finance the integration. Else, the DAO itself can subsidize the deployment. Tbd. And agreed—introducing hooks would help with aspects like lending market-based rehypothecation.
Good to hear about the Arrakis integration! There may be a push in the future to deploy v4 on Plasma soon. More than likely, a v4 deployment would be conducted by the Oku team and is dependent on demand from Plasma directly as they would finance the integration. Else, the DAO itself can subsidize the deployment. Tbd. And agreed—introducing hooks would help with aspects like lending market-based rehypothecation.
We support this proposal and share our rationale stated in our Delegation Platform:
We support this proposal and share our rationale stated in our Delegation Platform:
Plasma is a new chain, but it has the strong backing of Tether, which aims to establish it as a stablecoin chain focused on becoming a payment infrastructure. Its growth has been remarkably fast, yet unlike other networks, we believe this is not a temporary phenomenon: Plasma is here to stay and is on track to become one of the most significant networks in the ecosystem.
For these reasons, we consider it entirely reasonable to deploy incentives to attract users, and we note that the proposed incentives are fully aligned with the UniswapDAO’s own deployment guidelines. We also welcome Plasma’s commitment to allocating no less than $3M of its own incentives. This represents a significant investment and effort on their part, far greater than that proposed by Uniswap. While this is logical, we still applaud that commitment.
Snapshot vote for the DAO-approved tranche is now live.
We support this proposal and share our rationale stated in our Delegation Platform:
We support this proposal and share our rationale stated in our Delegation Platform:
Plasma is a new chain, but it has the strong backing of Tether, which aims to establish it as a stablecoin chain focused on becoming a payment infrastructure. Its growth has been remarkably fast, yet unlike other networks, we believe this is not a temporary phenomenon: Plasma is here to stay and is on track to become one of the most significant networks in the ecosystem.
For these reasons, we consider it entirely reasonable to deploy incentives to attract users, and we note that the proposed incentives are fully aligned with the UniswapDAO’s own deployment guidelines. We also welcome Plasma’s commitment to allocating no less than $3M of its own incentives. This represents a significant investment and effort on their part, far greater than that proposed by Uniswap. While this is logical, we still applaud that commitment.
Snapshot vote for the DAO-approved tranche is now live.
