Wizard Cults Are DAOs Too, and Maker Gets Into Budgeting

Active Votes

• 1inch DAO is currently proposing to donate $1m in treasury funds to the Ukraine government’s public ETH address. The proposal is one of many similar proposals I have seen in the space but, like the others, is still falling far short of reaching quorum.
• Juno, a Cosmos app chain, is voting to ‘correct’ Juno’s gamed genesis stakedrop through proposition 16. The proposal alleges that a whale managed to game a recent airdrop, receiving more tokens than they otherwise should’ve. This proposal would rectify this by ‘removing’ funds from the whale’s wallet and distributing it to the community pool. There is no mention of how or who would remove funds, but this would seemingly require a fork or a significant upgrade. If this passed, the proposal also creates some interesting issues around the ‘immutability’ of their chain.
• Origin Protocol is currently running a vote to launch a new governance token for their yield-bearing stablecoin, OUSD. Origin has two main products, an NFT platform called Origin Story and a stablecoin. Their current governance token OGN manages both of these products. The team considers it unfeasible to create proper token utility in a single token for both an NFT platform and a stablecoin issuer. As such, they propose to mint a new governance token, claimable 1:1 for the existing OGN.
• Ribbon Finance is voting on a trial launch of an rETH-THETA<>ETH Uni v3 pool. rETH-THETA is the deposit token minted when one deposits their ETH into Ribbon Finance’s covered call product and represents their ETH in the pool. This pool creates a liquid secondary market for people to trade these covered call positions before expiry at the end of the week.
• Shapeshift is voting to create a sub DAO focused on fostering DAO-to-DAO relationships. The sub DAO will seek to invest in early-stage ‘decentralized’ projects to foster closer relations