The Week in Governance (Dec 13, 2023)

Noteworthy Votes

  • Lido is currently voting on the creation of a Community Staking Module. The Module will expand Lido’s node operator set by allowing permissionless entry into the validator pool. This proposal is an essential step in decentralizing Lido. 
  • Rocket Pool is voting to create an on-chain pDAO for their protocol. The on-chain DAO and governance process would allow node operators to issue proposals to adjust protocol parameters and spend treasury funds.
  • Synthetix is voting on a proposal to completely halt weekly SNX inflation – a potential solid catalyst for the token.

Forum Thread Of The Week

ApeDAO Builds A School?

BoredElon, a notable Twitter personality, has proposed that ApeDAO establish a video game school for Bored Apes to transform them into skilled gamers and improve their reputation within the gaming community. The plan involves setting up a physical school with top-tier gaming equipment, hiring experienced instructors, and covering various expenses such as construction, operating costs, marketing, and legal fees. The estimated budget for this project is $20,000,000.

Although a fun proposal, I doubt this is serious. A DAO funding a physical school or location is extremely challenging and unrealistic at this point. But this begs the question, why the proposal? Buried in the proposal is a link to Bored Elons Twitter, where he highlights a game debuting today: Snowcrush. I know little about the game, but Reach is sponsoring the event, and their token goes live on Dec 18th. The proposal could be the start of a hype drive for both projects.

I should note that, unsurprisingly, responses to the proposal, at least in the forum, were positive. Bored Elon could’ve run with it.

Honorable Mentions

  • Alchemix plots a path forward in re-backing alETH and reimbursing hack victims. 
  • The debate around Apechain gets more complex with Horizen Labs proposing to build it with Arbitrum tech instead of Optimism.
  • Paraswap is considering burning 400M tokens to reduce the supply overhang on their token. 
  • Uniswap has proposed lowering their onchain proposal threshold from 2.5M UNI to 1M UNI to broaden the delegate base to submit proposals.
  • Yearn Finance considers limiting individual LSTs to a max of 1/3 of their yETH Pool to reduce governance manipulation and increase diversification.
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REACH seems very interesting. A logical consequence of transposing Affiliate Marketing Business model of Web 1 era into Web 3 platform: https://www.getreach.xyz/

Founding Members (Advisory Team?) seem to be anonymous. Perhaps Red Flag?

An anon team is not necessarily bad, but probably something to note. I don't know anything about REACH honestly, first came across it in the forum. But Bored Elon's endorsement means its probably worth a look at least.