Delegating $UNI and $INDEX governance votes to get approval to build $UNI KPI Options

Basic Summary

The goal of this proposal is to ask stakeholders of $UNI and $INDEX tokens and the allow Yam Treasury to delegate votes to:

iyamfeddas.eth

If successful, this will benefit YAM in several ways:

  1. Putting YAM Treasuries on the forefront of treasury management for DAOs. We’ve helped Sushiswap and now hopefully Uniswap. This would cement our lead in actually helping protocols with treasury management.
  2. The UMA KPI options would also live on Yam Synths hopefully bringing the UNI ecosystem to explore Yam Synths.

Here’s the proposal to create the KPI options and additional information.

We will be doing the second “temperature check” voting starting 6/14/2021. We’ve enlisted the UMA community as well and it should pass with flying colors but I still need your help. In Uniswap governance there is 3 stages of voting, starting with 25k quorum → 50k quorum → 40m quorum.

Passing the first two stages should not have any issues, but the 40m $UNI quorum will be tough, it will require the rallying of several communities and large whales.

To assist these efforts, I’ve put up a proposal to get $INDEX and $UNI tokens delegated to me on the forums. This will help me rally the Indexcoop community to our cause as well as anyone who has $UNI tokens.

Here’s the snapshot to get the treasury to delegate the $INDEX voting to me:
https://snapshot.org/#/yam.eth/proposal/QmdzW658cwhbR6baDAtLmiP2mRFzBPSD9fc4o7d6Nnu5LB

To Assist:

  1. Delegate any $UNI tokens and $INDEX tokens to me: iyamfeddas.eth
  2. Approve the treasury delegating its $INDEX tokens
  3. Add comments to forum discussion at UNI.

Abstract

Yam.Finance team and UMA team is asking for help in consolidating our $UNI votes and $INDEX votes to iyamfeddas.eth so that we can:

  1. Assist Uniswap to divest their community treasury by utilizing KPI options.
    1. In order to do so we need to go through their governance process. Which require 3 different votes each with higher quorum requirements (25k / 50k / 40m).
  2. $INDEX tokens can be used to vote on Defi Pulse Index meta proposals which has a significant number of $UNI votes.
  3. Can also support future initiatives that might be mutually beneficial for Yam / UMA and partners.

Background

Feddas is directly in charge of Yam Treasuries, a treasury management as a service by Yam. Yam Treasuries has been leading the charge on treasury management for DAOs. We’ve realized that there are significant systemic risks for DAO’s treasuries. During the bear market of 2017 multiple projects were forced to sell their treasury at historically low values, which ultimately caused many of them to disband and shutter.

Treasury management is mission critical for DAOs, yet the challenges and complexities are formidable. Sushi realized this systemic issue and collaborated with Yam.Finance to build a custom treasury management solution called sushiHOUSE: https://forum.sushi.com/t/sushihouse-a-treasury-management-proposal/3106 1

Motivation

Governance is a very challenging issue in DAOs. DAO governance participation is usually very low on the list of priorities for most stakeholders. As a long term stakeholder of a project, its not that you don’t care about the governing the protocol but it’s usually two reasons that keep you from participation:

  1. Lack of time to fully understand the proposals or even the time to read and follow.
  2. Thinking that your participation doesn’t really matter.

Vote delegation helps solve these two issues and will directly help in building out the Yam and UMA ecosystem.

How to Delegate your $UNI votes

Step 1: go to https://app.uniswap.org/#/vote

Step 2: click on edit

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Step 3: Add Delegate +

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Step 4: Delegate to iyamfeddas.eth (all lowercase)

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Step 5: Confirm Transaction! Your done, now each phase of the voting can be done by Feddas.

Good idea, I’ve delegated mine :slight_smile:

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