governance: substantial

welcome back to the Tally newsletter, your weekly source for DAO governance insights. i’m coolhorsegirl and i’m so happy to be here. 🟣

this week we’re talking Blast: a lesson in what not to do in L2 governance. it’s been a while since we’ve seen such a publicly disparaged launch. there’s a lot to unpack here, from legit criticisms to memes to where Blast can go from here.

not too many live proposals this week, but we’ve got an update to Compound Governor Bravo (ily) and a few Nounish proposals including a potential gift of a Noun. let’s get into it 👇

🤿 deep dive: governance: substantial

you’ve seen the memes—Blast’s launch has been a scene. kicking off with a hilarious table (see below), CT has concerns with the multisig with mystery signers, their vague rewards setup, and launch of a bridge-in without a bridge-out. we’re breaking down what happened and how we can improve from here.


they’ve since deleted this core piece of launch material from their Twitter

Blast is an EVM-compatible, optimistic rollup that launched marketing efforts (not the actual product, notably) and a bridge on november 21. you deposit your ETH, they put it to work in Lido and Maker, and your wallet balance automatically grows (they’re calling this “native yield”). while $570mil has flowed in, withdrawals will not be enabled until mainnet launch in late february.

the head-scratcher behind it

Blast is a lesson in what not to do for L2 governance, at least from the get-go. it’s is controlled by a simple 3 of 5 multisig, no timelock, no transparency. this is unorthodox and widely frowned upon. in a post about it, Blast compares its use of a multisig to that of other L2s like Arbitrum, Optimism, and Polygon. this is misleading—Arbitrum uses a security council to elect onchain the signers of its multisig; “in Blast it’s ‘just trust me bro’ set of 5 unknown randos to a protocol that doesn’t even exist yet” (quoted from this Twitter reply). Paradigm has also shared grievances with both the messaging and execution of the launch. also, there’s this:

where it can be improved from here

all is not lost for Blast. they maintain backing from one of the most important VCs in crypto and have the funds to pivot. the road to redemption lies in embracing robust governance mechanisms. it’s about shifting gears from a questionable path to a more transparent and inclusive route.

what this means in practice: Blast should elect their multisig signers onchain. we’ve talked in this newsletter about jon charbboneau’s concept of proof-of-governance, which requires that leaders in decentralized orgs are elected onchain. right now, we have no idea who the multisig signers are, and that’s a recipe for a rug. a multisig is used effectively when it’s not just about authority; it’s about the process of governance that leads to that authority.

i am hopeful that Blast will acknowledge their missteps and pivot into a more secure, decentralized future. right now, their strategy really does underline the pitfalls of deviating from best practices in a space where reputation is everything. anyway, i’m certainly enjoying the Blast memes in the meantime.

⌛️ onchain proposals

🟩 Compound

Compound Governor Bravo Update

summary: updates the implementation contract for Compound Governor Bravo including 3 changes: upgrade from solc 0.5.17 to 0.8.10, enable propose by sig, and enable vote with reason by sig.

voting ends: november 30th

🟡 NounsDAO

Gift a Noun to Nounish Founders: gami

summary: gift Noun 13 to the founder of the first second Nouns fork, credited with everything from coining the term “droposal” to coordinating the AO metaverse collaboration.

voting ends: december 2nd

The Many Hats of Ben – a documentary about Benbodhi

summary: 48k USDC to produce a short documentary film on ben, one of Nouns’s most devoted community members, that follows his journey in Nouns.

voting ends: december 3rd

📝 what we’re reading & listening to

📄 From Closed Doors to Public Forums: A Lesson for DAOs from OpenAI by drew coffman

key line: “the future of any organization, decentralized or not, should rest firmly in the hands of those who build, nurture, and guide it.”

🐦 ICYMI: CZ is stepping down from Binance by frank chapparo

crazy times as Binance gets charged a $4mil settlement and CZ pleads guilty to money laundering charges.

🐦 “wasted a lot of time researching wallets, they’re all bad” by proto.eth

it’s nearly 2024 and we still don’t have a wallet we’re completely happy with. this is a big criticism of a big part of the problem is that the features the companies care about aren’t always the features the users care about.

💫 DAO talk: istanbul redux || DT weekly ep. 63

🤭 meme of the week

on Tally’s end, whether your proposal has multiple links, discourse excerpts, & photos or just a few lines of text, we have you covered. create proposal just got even smoother—check out our latest feature update.

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~ coolhorsegirl 🐴

p.s.- even abroad of course i’m celebrating thanksgiving! i introduced a load of brits to cranberry sauce (they thought it was a dessert?) and served up some mashed sweet potatoes and of course a yorkshire pudding.

delegation with a side of incentives

welcome back to the Tally newsletter, your weekly source for DAO governance insights. i’m coolhorsegirl and i’m thrilled to be here. 🟣

delegate incentivization is becoming increasingly relevant and Rari DAO is kicking off incentives for BOTH delegates and delegatooors. it’s a unique system that could set a precedent for governance participation across the ecosystem going forward and we’re here to break it down.

few proposals coming off of devconnect this week, like STIP funding for successful proposals that didn’t make it before the 50m ARB ran out last round and an ever-evolving game from Nouns, just like the NFT collection itself. let’s get into it 👇

🤿 deep dive: delegation with a side of incentives

fighting low voter turnout, one of DAOs’ greatest threats, is top priority for Rari DAO. it’s incentivizing delegates and delegatooors in its latest proposal, passed just earlier today. this move aims to compensate already active delegates while increasing governance participation.

here’s the deal:

  • delegatooors: the more you delegate your veRARI, the more you’re rewarded

  • delegates: the more delegations you receive, the more you’re rewarded

why does this matter?

  • more votes, more voices: this isn’t just about numbers; it’s about getting everyone in on the action. more votes mean more voices heard, increasing the decentralization and democratization of Rari DAO.

  • the anti-bad actor shield: low voter turnout can lead to security concerns when some feel they can attack the DAO without much recourse. higher turnout and more activated holders will help keep those sneaky bad actors at bay.

  • attracting the crypto-curious: let’s face it, the PR from delegate AND delegatooor incentivization is a good look for Rari DAO. if you’re looking to buy a DAO token, incentives for delegating may draw you in.

  • expertise enhancement: got $RARI? don’t know what do with it? delegate it to those incentivized to breathe Rari DAO governance, which will ultimately lead to better, more well-informed outcomes for the DAO.

more participation equals a stronger, more robust community. incentives may be the way to do this. the proposal will directly increase veRARI delegation and total votes cast on proposals, which may have trickle down effects—like increased legitimacy of the DAO, shareholder interest in the community, and enhanced decentralization. and who doesn’t want a bit of reward for doing their part in upholding these standards?

and hey—Rari DAO is using Tally’s proposal rewards! they’ve allocated 4,000 RARI (1000 RARI per working group member for their work in organizing and designing this program). upon passage of the proposal, RARI was sent to these awardees alongside that allocated onchain for delegator and delegate rewards.

⌛️ onchain proposals

💙 Arbitrum

Proposal to Backfund Successful STIP Proposals

summary: proposes a one-time backfund to all “approved but not funded proposals’’ from Arbitrum STIP, which increases the total budget by 21.4M to 71.4M while increasing the total participating protocols by 26, for a total of 56 funded projects.

voting ends: december 3rd

Empowering Early Contributors: The community Arbiter Proposal

summary: this proposal rewards 24 early contributors to Arbitrum (“arbiters”) with 22k of ARB each. check out their long list of contributions to the DAO over years.

voting ends: december 6th

💚 Gitcoin

workstream budget requests, all ending november 26th

🟡 NounsDAO

One Noun, Every Day, Forever… in an Action Rogue-Lite Game! V2

summary: 75k USDC to deliver an indie Nouns game optimized for replayability. just like how each blockchain hash determines the traits for each Noun every day, the game will use a game seed to generate new elements for a each game, every day.

Voting ends: november 23rd

The Burn: pause for now

summary: pause the burn of book value originally meant to mitigate arbitrage in the short-term. can always be unpaused later on.

voting ends: november 25th

📝 what we’re reading & listening to

📄 OpenAI announces leadership transition

draaama. sam altman is out as CEO of OpenAI, and the circumstances are weird to say the least. notably, he’s been ousted by the board due to the vague explanation that “he was not consistently candid in his communications with the board. sam has taken to Twitter to state that he can’t say more or they’ll go after his shares. this rabbithole is deep.

🎥 the top post on is speculation by anquetil

good intentions or not behind, the current top post is speculative, which some think is a testament to what has plagued’s potentially good intentions since the beginning.

🐦 hostile governance attack on the remnants of Indexed Finance treasury by functi0nZer0

grifters gonna grift. someone tried, unsuccessfully, to grab the 36K in DAI and 48K in NDX (before slippage) from Indexed’s treasury even as the project shut down about 2 years back.

💫 DAO talk: jaris @bankless DAO || DT interview no. 45

🤭 meme of the week

shoutout sam

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~ coolhorsegirl 🐴

p.s.- tommy, dennison, raf, and i repped Tally last week at devconnect in istanbul! we’re keen to keep the chats going—all of our telegram DMs are open for follow-ups!

introducing proposal rewards!

welcome back to the Tally newsletter, your weekly source for DAO governance insights. i’m coolhorsegirl and i’m so thrilled to be here. 🟣

Tally is rolling out an experimental feature: proposal rewards! we all know the time and effort that creating a proposal requires, and we think it’s important to bridge the gap between active participation and meaningful compensation

ENS, Dope Wars, and NounsDAO all have proposals up this week—some are the standard working group paydays, and others are one-offs about game and playground production. let’s get into it 👇

🤿 deep dive: introducing proposal rewards

at Tally, we understand that crafting and submitting governance proposals can be a time-consuming and resource-intensive process. recognizing this challenge, we are excited to roll out proposal rewards as an experimental feature, offering a solution that bridges the gap between active participation and meaningful compensation.

proposal rewards allow proposers to reward those who helped make the proposal possible with a fraction, dependent on how many reward recipients there are in a given proposal, of 1% of the transfer amount.

how’s it work?

as usual, DAO contributors can submit proposal to transfer tokens on Tally. to add proposal rewards, simply turn on “Contributor Rewards.” i did it in the example below.

once the proposal is live, the community can vote on it, as normal. if the propsal passes, rewards are sent along with the token transfer.

now, let’s delve into why Proposal Rewards might be a game-changer for decentralized governance:

1. incentivized participation

proposal rewards provide a strong incentive for community members to actively participate in governance. by offering compensation for the effort and time invested in crafting and submitting proposals, we hope to attract a wider range of voices and ideas, ultimately enriching the decision-making process.

2. incentive alignment

when a proposal benefits the ecosystem, it stands a greater chance of receiving positive votes, which translates into rewards. this alignment can foster a more collaborative and harmonious governance environment where proposers have all the more reason to make good proposals because they directly benefit from their passage.

3. direct reward distribution

by eliminating intermediary steps, rewards can be issued directly from the proposal itself. this ensures that once a DAO approves a transaction, the distribution of rewards is immediate and bypasses any need for separate handling or additional processes.

Tally’s proposal rewards feature is an experiment in progress. we invite you to explore this exciting experiment in decentralized governance. we’re committed to monitoring its impact and collecting feedback from our community!

⌛️ onchain proposals


[EP 4.6] [Executable] October 2023 Working Group Funding

summary: executes funding requests for the ecosystem working group, metagovernance working group, and public goods working group, all of whichhave passed temperature checks.

voting ends: november 9th

[EP 4.5] [Exeutable] Endowment permissions to karpatkey – Update #3

summary: this pitch spices up the endowment’s game—tossing in ETH-neutral plays, liquid staking moves, and seasoned money market tactics to ride out market waves.

voting ends: november 9th

💚 Dope Wars

DIP-59(C) – Turf Builder

summary: after passing Snapshot forum, this proposal seeks to fund part 3 of the turf builder, intending to release the first MVP for the product. if you like pixel art, definitely worth a look.

voting ends: november 9th

🟡 NounsDAO

CC0 Nouns Themed Playground + Build: Spread Nouns Design And Ideology Worldwide Through Fun And Play

summary: it’s all in the name—imagine your kid climbing up some noggles and down a pixel art cat’s tail! 2 longtime Nouns are requesting ~600k in USDC for the project.

voting ends: november 12th

📝 what we’re reading & listening to

📄 Different types of layer 2s by vitalik buterin

another gigabrain post from vitalik, this time on L2s. it’s a useful dive into what he thinks matters most when distinguishing L2s: connectedness to Ethereum, determined by security of withdrawing to Ethereum and security of reading Ethereum.

📄 Temporal Governance: Pioneering Cross-Chain Protocol Governance by Moonwell

temporal governance is a novel open-source governance framework that serves as a contribution to the broader onchain ecosystem as a public good. it leverages Wormhole’s abilities while maintaining decentralization and trust minimization, and you can’t miss this one.

🐦 a take on the SBF situation by hayden adams

a reflection on the impact of both the verdict and the long-lasting reputational effects of the SBF situation. he “called it,” so to speak, on more than just some suspect finances.

💫 DAO talk: meg @ gitcoin || DT interview #44

🤭 meme of the week

Tally is partnering with How to DAO for a half-day event of talks, live panels, and networking on november 13th at DevConnect! we would love to see you there!

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~ coolhorsegirl 🐴

p.s.- enjoying the london christmas markets that just went up before i head off to DevConnect in istanbul next week!

progressive decentralization FTW

welcome back to the Tally newsletter, your weekly source for DAO governance insights. i’m coolhorsegirl and i’m so happy to be here. 🟣

simultaneous launch of protocol, token, and DAO may be fading into the annals of blockchain history. as the narrative shifts, progressive decentralization is the way forward ensuring a steady and deliberate transition towards a decentralized governance structure. Safe DAO is laying out the steps, one by one.

let’s get into it 👇

🤿 deep dive: progressive decentralization FTW

so, you launched with a non-transferable token, but you want to become a DAO. maybe you’ve taken a few votes and the community isn’t quite sure that the organization is ready to decentralize. what do you do? we’re talking progressive decentralization this week, diving into Safe’s journey through the process.

some background: since its inception in fall of 2022, the SAFE token launched as a non-transferable asset, with the power to alter this resting solely within the SafeDAO. an early attempt to shift towards transferability failed to pass voting. with some intent on decentralizing and many uneasy at the idea of doing so so quickly after launch, the community met in the middle—ah, progressive decentralization.

SEP#3 carved out a roadmap, delineating five pivotal milestones to be achieved before reopening the community discourse on token transferability. this aims to quash repetitive voting episodes while ensuring Safe’s readiness for such a crucial transition.

last week, SafeDAO hit milestone C, edging closer to revisiting transferability with only two milestones left—resource allocation framework ratification and a SEP on token utility. the phased approach mitigates risks, ensuring readiness for each governance transition.

progressive decentralization mitigates governance risks by ensuring infrastructure and community readiness before transitioning control. nowadays, launching a protocol, DAO, and token at once may be a thing of the past.

📝 what we’re reading & listening to

📄 Designing reward systems for web3 governance by eliza oak

the question of how to incentivize long-term civic participation via rewards is an important and increasingly relevant one, especially during the bear. eliza tosses up token-based versus reputation-based reward systems, and the powers attached to each associated reward in a compelling think piece.

🎥 Optimism RetroPGF Round 3 with Jonas Sieferth on GreenPill

a deep dive on retroactive public goods funding by Optimism including market dynamics, impact evaluation, and voting. aaaand what it means to be part of the public goods “multicellular organism.” interesting stuff in the era of grants.

🐦 feels like Arbitrum has the busiest forum in crypto rn by tnormm

AIPs, STIPs, what’s it all mean for the future of Arbitrum DAO? tnormm debates how “noise” (read: hype) influences the success of the early-stage DAO’s votes.

💫 DAO talk: shipping season || DT weekly ep. 61

🤭 meme of the week

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Tally’s joined the $quarter-bil club—hundreds of thousands of users are coordinating together on Tally to unlock over $250m in DAO treasuries. bear market who?

~ coolhorsegirl 🐴

p.s.- you know me, going to shill my based ghouls when i can. here’s my new halloween purchase.

the case for token voting

welcome back to the Tally newsletter, your weekly source for DAO governance insights. i’m coolhorsegirl and i’m so happy to be here. 🟣

this week, we’re breaking down the case for token voting—the reasons it’s sustained some of the biggest DAOs in the space through the bull and bear markets. 5 reasons why it’s not going anywhere, all below.

proposals from Aave and Nouns this week! noggles for the wrist, anyone? let’s get into it 👇

🤿 deep dive: the case for token voting

token voting is a quintessential mechanism for community-driven decision-making. it enables a transparent, secure, and inclusive process where holders have a voice in governance based on their stake, which in turn fosters a deeper sense of community, one of the most important factors in DAO success. here are 5 reasons why token voting works:

  1. Ease of Use: First, it’s simple. Token voting epitomizes transparency and onchain verifiability, making it a straightforward and comprehensible method for community engagement. Since voting happens onchain, every vote is transparently recorded and easily auditable by anyone interested.

  2. Robust Development Ecosystem: Token voting is a tried-and-true governance method for numerous prestigious projects. Compound, Uniswap, Arbitrum, Optimism, Aave, ENS, Maker, and Lido use token voting systems. The widespread adoption of the Governor standard further underscores the community’s trust and support. Notable contributors to this standard include Scopelift, known for its blockchain consultancy services, and Hedgey, which has introduced flexible voting mechanisms to cater to different governance needs.

  3. Incentive Alignment: Token voting can be tailored to align the incentives of all stakeholders involved. Want to make sure your governance is not economically driven? Use non-transferrable tokens, like SafeDAO does. Keen to make sure voting power is allocated to contibutors that have a vested interest in the long-term success of the DAO? Hedgey Finance offers vesting contracts that allow contributors to vote with tokens in these contracts, meaning the tokens cannot be sold yet.

  4. Scalability: The interoperability with established token standards like ERC-20 or ERC-721, makes token voting a scalable solution. Token voting can be seamlessly integrated into existing blockchain infrastructures, ensuring a broad spectrum of use cases and the potential to adapt to growing community needs.

  5. Effective Go-to-Market Strategy: GTM is important, especially during the bear. Token voting can significantly amplify the visibility and community engagement around projects. The participatory nature of token voting cultivates a strong community ethos, one of the biggest determinants of DAO success.

⌛️ onchain proposals

👻 Aave

Prices operational update. Unify disabled fallback oracles

summary: in order to maintain consistency between Aave v3 and other legacy instances (v2, v2 AMM, v1), this proposal will configure the deprecated fallback oracle address to address(0) on them.

voting ends: october 27th

🟡 NounsDAO

Nounswatch: Nouns Iconic Timepieces

Summary: yet another tangible representation of the Nouns community: Noggles for the wrist (yes, watches). 150k USDC to roll out 888 of ‘em.

Voting ends: october 27th

Enabler DAO Transforms: Nouns House Auction Begins!

summary: 312 ETH to the “Nouns House DAO,” a rebranding of the current Enabler DAO.

voting ends: october 28th

A Very ⌐◧-◧ Nounish Christmas Party for 5,000 Kids in Need

summary: nounify melbourne’s annual christmas party for underprivileged children with noggles, photograph, temporary tattoos, and more—all for just over 47k USDC.

voting ends: october 30th

📝 what we’re reading & listening to

🎧 Unpacking Arbitrum STIPs Winners and Uniswap KYC Uproar on 0xResearch

KYC—one of crypto’s most controversial topics. and it has implications on two big topics: the STIP, which Arbitrum is requiring KYC for before deploying funds and the Uniswap v4’s optional KYC compliance hooks.

🐦 Uniswap’s fee switch (and following debate) by hayden adams

at some point, companies have to make money…right? there’s an interesting debate under hayden’s post defending the Uniswap fee switch: some people just don’t want to pay, and some have more nuanced opinions.

🐦 DAOs should have at least a veto council by toly

with councils all the talk these days, the question of centralization looms heavy. all the while, attacks have happened and will continue happening—maybe councils are our saving grace.

💫 DAO talk: monetize or die || DT weekly ep. 60

🤭 meme of the week

ok, not a crypto meme, but you HAVE to check out the Ryanair twitter account. it is SO funny.

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~ coolhorsegirl 🐴

p.s.- more dog-sitting, this time in edinburgh’s nicest neighborhood!

the future of onchain governance with zk coprocessors

welcome back to the Tally newsletter, your weekly source for DAO governance insights. i’m coolhorsegirl and i’m so happy to be here. 🟣

in a world where DAO members’ voting power can be spread across numerous networks and smart contract services, scaling one DAO across chains has been a challenge. enter zk coprocessors.

Aave is upgrading governance to v3 this week! and Nouns DAO may market in Taipei and may be branding bidets of all things. let’s get into it 👇

🤿 deep dive: the future of onchain governance with zk coprocessors

what will governance look like in a world where members of a DAO have their voting power split across tens, hundreds, or thousands of networks and in just as many smart contract services? how can we scale one DAO across chains?

a few months back we were provided our recommendation on the most promising technical implementation of Superchain decentralized governance to Optimism. our solution has implications beyond Superchain, though, and to cross-chain governance. we’re talking zk coprocessors.

zk coprocessors—like Axiom and RISC Zero—enable smart contracts to access historical data and conduct verified computations on that data. they allow one party to prove to another that they possess certain information, without revealing that information itself. basically, zk coprocessors provide the ability to validate votes and proposals without exposing sensitive data, adding a layer of privacy and security.

so what’s that mean in practice? most DAOs run on a certain set of smart contracts on a certain chain. but increasingly, we’re seeing DAOs that operate cross-chain like on Optimism’s Superchain—which makes them harder to interact with Tally (and most governance frontends) at current moment. but using zk coprocessors, DAOs once incompatible with Tally will be able to use Tally in the same way single-chain DAOs do.

zk coprocessors:

  • are efficient and cost-effective for cross-chain voting

  • aggregate and validate multiple proofs into a single, easily verifiable on-chain proof

  • allow for offchain computations while maintaining low on-chain verification costs

  • offer manageable proof generation time, even for users with large proving sets

  • are scalable with modular smart contract architecture

  • enable expressive proofs for evolving governance requirements without increasing proving costs

this is big stuff for cross-chain governance. you can read our deep dive here.

⌛️ onchain proposals

👻 Aave

Governance V3 Activation

summary: big stuff—this proposes the migration of the Aave governance from v2 to v3, transferring all permissions from the v2 system to v3, executing all required smart contracts upgrades and miscellaneous preparations.

voting ends: october 23rd

🟡 NounsDAO

Nouns to Verbs

Summary: this proposal would transfer a Noun and 16 ETH each to t2 members of the Verbs team as well as thanks for helping Nouns undergo protocol developments like the Fork.

Voting ends: october 20th

Wet Butt, So What? Noun’s Bidet Revolution!

summary: MakeWater is seeking $34,000 USDC to provide low-income families with Nouns-branded bidets and some marketing around the initiative.

voting ends: october 20th

Nounify Taipei V2

summary: 101k USDC to bring Nouns to Taipei Blockchain Week, including conference sponsorship and heavy marketing on 2 of the 5 days of the conference. and of course, noggles in plenty.

voting ends: october 21st

📝 what we’re reading & listening to

📄 STIP Results – a Breakdown

a complete rundown of which projects did and didn’t get STIPs in a bunch of Google sheets. you can separate by category, amount, votes, everything. it’s especially interesting looking at which projects hit quorum but didn’t make it before the 50m ARB ran up—Arbitrum DAO will likely move to do something with those runner-ups.

🎧 Communicating in Crypto, and Beyond on web3 with a16z

where you work with people that are both remote and in person, or a mix of regulars and newcomers/strangers on the daily, this is so important. it’s not just a trad take, though, and has some valuable lessons for our industry.

🐦 Are blockchain systems legal or illegal (or something else)? by BlockhainGov

introducing alegality, “situated beyond the boundaries of existing legal orders and, therefore, challenging them.” dive deeper in this article.

💫 DAO talk: zoomer meets world || DT weekly ep. 59

🤭 meme of the week

more chains on Tally! this time, Mantle. as per, reach out if you’re building on Mantle (or any other chain) and want to launch on Tally. we’re here to help.

Subscribe now

~ coolhorsegirl 🐴

p.s.- spending a few weeks in the Scottish countryside.

ArbitrumDAO’s Short Term Incentive Program: implications and results

welcome back to the Tally newsletter, your weekly source for DAO governance insights. i’m coolhorsegirl and i’m so happy to be here. 🟣

if you’re invested in the future of crypto, the outcomes of the Arbitrum DAO’s STIP aren’t just interesting—they’re essential. we’re breaking down its implications and results, including Tally’s awarded STIP (yes, we have ARB up for deployment over the next few months!).

we’ve also got a resubmission from Gitcoin’s MMM group after last week’s mistake, a standard update to Dope Wars’s membership, and some interesting growth initiative out of Nouns. let’s get into it 👇

🤿 deep dive: ArbitrumDAO’s Short Term Incentive Program: implications and results

Arbitrum DAO’s Short Term Incentive Program (STIP) is all the buzz, and we have got to talk about it.

first of all, what is the STIP? let’s break it down. it’s a community-driven initiative with a mission to sprinkle a generous 50 million ARB from the DAO treasury across active protocols on Arbitrum to add a bit of fuel to their fire. the official goals: to supercharge the ecosystem’s growth, play around with grant distribution models, gather some golden data for future schemes, and brainstorm ways to jazz up activity on the network. and here’s the kicker: this program is on a tight schedule, aiming to wrap up by january 31, 2024.

the STIP is a testament to the future of decentralized governance and the potential of the Arbitrum ecosystem. it’s not just about funding; it’s about recognizing and nurturing innovation, ensuring that the most promising protocols get the support they need. when the community comes together to decide where resources should go, it’s a powerful statement about the direction and values of the entire ecosystem.

let’s talk numbers for a sec. currently, there are 97 proposals battling it out for votes. 24 projects have already hit the sweet spot, securing over 50% of “yes” votes. they’re on track to bag a cool 42 million ARB, which is 84.3% of STIP’s total stash. as for the rest of the contenders, they’ve got their work cut out, vying for the remaining ARB before voting ends tomorrow. you can get the full rundown in this sheet that updates in real-time.

before I sign off, here’s a tidbit for those with an eagle eye on opportunities: a chunk of these grant requests is earmarked for DAO development. yep, Tally has earned a STIP! you can read the details here, but basically, we’ll be deploying 200k to onchain DAOs building on Arbitrum. a robust onchain DAO ecosystem is like the heartbeat of a successful L2, and we’re excited to chat with any protocols looking to build their onchain DAO on Arbitrum! get in touch if that’s you.

⌛️ onchain proposals

💚 Gitcoin

MMM S19 Budget Re-Post

summary: a re-posted budget request for MMM’s S19 due to a transaction error that lost almost $500k. this one seeks $240,000 for september and october expenses, with unused funds to be calculated into the S20 budget request.

voting ends: october 13th

🚊 Dope Wars

DIP-66(b) DopeLabs 2.0

summary: as is every 6 months, DopeLabs membership (including salaries) is up for voting. this proposal passed on Snapshot, and would release 10m $PAPER to the DopeLabs multisig for payments over the next 6 months.

voting ends: october 13th

🟡 NounsDAO

Nouns Stories + Stoopid Buddy = Shorts Galore

Summary: following two successful proposals, Nouns Stories seeks $1,795,000 to produce over 50 animated Nouns Shorts with Stoopid Buddy Stoodios. they’d conclude with an animation festival premiere!

Voting ends: october 13th

Update the Descriptor to Reduce Auction Settlement Gas

summary: this proposal addresses a storage issue in the Nouns Descriptor contract. a new descriptor reduces auction settlement gas by $40,000, while the artwork in the updated descriptor remains unchanged.

voting ends: october 13th

GLITCH: Art residency + Prop House + Droposal

summary: GLITCH proposes a two-week art residency in france for blockchain artists. they aim to create NFT collections and establish a prop house for funding. the top artworks will be presented as a droposal for Nouns!

voting ends: october 14th

📝 what we’re reading & listening to

📄 the community of the DAO from Nature Biotechnology

DAOs are growing as alternative research funding models, but are also strong scientific communities. desci is growing to the point we can’t ignore it.

🎥 the consumer crypto stack by nnnnicholas

the Consumer Crypto Stack lets devs make self-custody crypto apps that regular people can enjoy. in this video, he runs through the 100x UX improvement this entails. with consumer crypto all the buzz, this is a must-watch.

🐦 create onchain, no crypto required by Zora

this is so cool! before this, creators had to pay gas to create onchain. Zora’s new feature allows you to create for free; the first minter pays the gas cost for deploying the smart contract while minting the first edition. talk about onboarding the next billion users 😉

💫 DAO talk: we’re all multichain bros || DT weekly ep. 58

🤭 meme of the week

chains on chains! in the last 2 weeks, support has gone live on Tally for Kroma, Linea, zkSync, and Polygon zkEVM. more are on the way!

Subscribe now

~ coolhorsegirl 🐴

p.s.- edinburgh isn’t freezing yet! we’ve probably got another week of sunshine before i bunker down for the winter.

grants’ dance: growth vs. ethos

welcome back to the Tally newsletter, your weekly source for DAO governance insights. i’m coolhorsegirl and i’m so happy to be here.

last we talked about when to fund public goods. now we’re talking about how! while the foundations distributing grants are centralized to some degree, the level to which they involve the community in decision-making regarding grants varies. but this might not be a bad thing. yet again, we have to evaluate prioritising decentralization against maintaining maximum efficiency.

we’ve got a lot of proposals this week! Uniswap could plant its foot in Filecoin, voting on Arbitrum’s short-term incentive (pre-PGF?) program continues, and things are happening as per in Nouns DAO and ENS. let’s get into it 👇

🤿 deep dive: grants’ dance: growth vs. ethos

it’s grants season! or at least it feels like it and DAOs’ foundations are doling out millions. while grants are usually agreed to be a good thing, distribution of them is a touchy subject. does centralized entities distributing grants clash with the decentralized spirit of the DAOs they spring from? are we, in our pursuit of growth and development, inadvertently sidelining the core principles that make crypto unique?

centralized teams (often Foundations), by their very nature, hold the reins when it comes to grant distribution. they decide which projects get the green light. and while this might sound efficient, it’s not without its challenges. think community fragmentation, high walls for the underdogs, and a potential shift towards a more centralized crypto infrastructure.

now, let’s talk specifics. some provides grant funding for public goods through a simple application process. apply, a decision is made, and get your money. some have a more democratic (read: decentralized) touch, allowing the community to vote on projects that deserve funding. that said, this may come at the expense of a longer decision-making process. it’s, again, a delicate dance to balance growth with decentralization.

grants are more than just funds; they’re a lifeline, especially in a volatile market. yes, grants power innovation, especially public goods that benefit the entire community. but, and it’s a big but, the process needs to be transparent, inclusive, and in sync with the community’s values. because at its core, crypto is about more than just blockchain tech; it’s about a shared vision, collaboration, and a community that grows together.

⌛️ onchain proposals

💙 Arbitrum

AIP 9: Arbitrum Short-term Incentive Program

summary: the Arbitrum incentives working group proposes a one-time incentive distribution to active Arbitrum protocols. this move aims to boost the ecosystem and gather data for future programs, all set to run until january 31.

voting ends: october 9th


[EP4.2][Executable] Fund the Endowment (second tranche)

summary: this outlines the allocation of the second tranche of 16,000 ETH from the ENS DAO to the ENS Endowment. the ENS Endowment was established last march, and the community had chosen a phased funding approach, with funds being allocated in two equal tranches over six months.

voting ends: october 5th

[EP4.3] [Executable] Refund Invalid .eth Names

summary: this seeks to refund owners of .eth names that were invalidated due to the introduction of ENSIP-15, a new ENS name normalization standard. approximately 2,973 unique addresses will receive refunds, totaling around 115 ETH.

voting ends: october 5th

🦄 Uniswap

Deploy Uniswap V3 on Filecoin Virtual Machine (FVM)

summary: the FVM is an EVM-compatible environment constructed over the Filecoin blockchain, which offers a system for decentralized data storage. this would grant Uniswap a big foothold in Filecoin’s data economy.

voting ends: october 6th

🟡 NounsDAO

Sensuality in Art: Proposal for Funding a Transformative Project

summary: 7 ETH and 4 NounsVision tokens to create 7 immersive art pieces, each representing different expressions of sensuality applied to characteristic Nouns for each day of the week. 2 of the 7 pieces will be available for minting as limited editions

voting ends: october 5th

Investing in the Growth of Nouns DAO in Japan

summary: 18 ETH to fund reward, ops, and PR for the Nouns community in japan, which has seen less activity largely due to the language barrier often present at Nouns Prop House events. if passed, it would re-launch and maintain the Prop House for a year.

voting ends: october 5th

📝 what we’re reading & listening to

📄 The Casino on Mars by matt huang

from Paradigm, an analogy of crypto to yep, a casino on mars, with all the good and all the bad that brings. not particularly groundbreaking, but well-written and always useful for explaining crypto to relatives as we come up on the holidays

📄 The Burn by wilson

an update to the Nouns DAO software? wilson proposes so, with the aim to create a code-level incentive for the DAO to (1) spend the treasury, (2) grow the Nouns supply, and (3) increase the auction price. it’s a pragmatic take on the current situation and the DAO many have written off perhaps too soon.

🎧 The next wave of consumer crypto w/ Seed Club on On the Other Side

with consumer crypto all the rage right now, it’s interesting to hear why the experts think that onchain experiences aren’t built for pure consumption and what’s really gonna shake up the space.

💫 DAO talk: weston DAO flows || DT weekly ep. 57

🤭 meme of the week

since being selected for a grant, Tally has published our Superchain Governance Deep Dive Research Proposal on Optimism’s forum. we explored multiple technologies and recommend ZK-SNARKS as the future for Optimism Superchain governance to enable scalable voting and governance on Optimism across the Superchain. if you’re interested in zk, superchain, or the technical side of gov, don’t miss out on this one.

Subscribe now

~ coolhorsegirl 🐴

p.s.- last day in new york was marked by a trip to the natural history museum. this reminds me of the animations of felix colgrave, my favorite comfort YouTube videos.

when to fund public goods

welcome back to the Tally newsletter, your weekly source for DAO governance insights. i’m coolhorsegirl and i’m so happy to be here. 🟣

with public goods as hot a topic as ever, questions around their distribution are becoming increasingly important. we’re talking a look at Arbitrum and Optimism’s ways of funding public goods—pre (“incentives program) or post (“retro”) delivery.

coming off of the completion of the first round of the Security Council, Arbitrum is lively with a few proposals that fuel some fire in the protocol. fork chat in Nouns is still highly controversial; that’s not stopping people from dropping those proposals aimed at proliferating Nouns alongside boycotts and fork threshold changes. let’s get into it 👇

🤿 deep dive: when to fund public goods

since we talked public goods in issue 91 back in april, it hasn’t gotten any less hot. it’s a direct challenge to the free-rider problem and offers some hope to the often cutthroat world of defi. with a few ways of funding public goods live from two of the biggest L2s in the space, it’s important we find the best ways of supporting their distribution.

Arbitrum is funding public goods before they’re built. others have done this, right: Gitcoin and Optimism’s grants program are some well-known examples. Arbitrum’s live vote on a short-incentives program would dole out up to 50 million ARB. the goal: to kickstart network growth and experiment with incentive grants. a bold move, indeed, especially when you can’t guarantee the output of grant awardees. but as they say, no risk, no reward.

Optimism is funding public goods after they’re built. their third round of retro public goods funding (RPGF) is distributing 30 million OP to contributions that have supported the development and adoption of Optimism in 4 categories. often, most nominees are awarded funding (this was 195 projects last round). but keep in mind, the amount of OP being distributed is growing alongside projects successfully proliferating Optimism (round 2 of RPGF distributed 10 million OP and round 1 1 million). it’s a testament to the principle of “impact = profit” and a nod to those who’ve already shown their mettle.

while Arbitrum’s approach feels like placing a bet on the future, Optimism’s RetroPGF is a toast to past achievements. pre-funding can be the wind beneath the wings of new projects, giving them the gusto to soar. in contrast, retro-funding is a pat on the back, a “we see you and appreciate you” to those who’ve already put in the work. different types of grants may work for different types of applicants; if you need funding upfront to even begin a project, you’d want something like Arbitrum’s short-term incentives; if you can bootstrap, you may make more money in RPGF once you’ve proven your project’s worth.

it’s not clear whether public goods funding is the most efficient when distributed before or after a product is built, and even Arbitrum declared its incentives program an experiment. whenever public goods are funded, the ethos is clear: enrich the ecosystem, and the ecosystem will enrich you.

⌛️ onchain proposals

💙 Arbitrum

AIP: Building the Future of NFTs: The Rarible Protocol – Arbitrum Integration

summary: Rari Foundation seeks to merge the Rarible Protocol with Arbitrum One, enhancing the NFT ecosystem. this would promise some pretty sweet tools for NFT app development and a shared integration cost.

voting ends: october 2nd

AIP 9: Arbitrum Short-term Incentive Program

summary: the Arbitrum incentives working group proposes a one-time incentive distribution to active Arbitrum protocols. this move aims to boost the ecosystem and gather data for future programs, all set to run until january 31.

voting ends: october 9th

🟡 NounsDAO

Public Good Beer 🍺

Summary: “Public Good Beer” wants to take Nouns to the masses with a cc0 beer brand. after a successful self-funded phase, they’re eyeing global expansion, Brazilian marketing, and even dabbling in BBQ sauces and sunscreen.

Voting ends: september 30th

Lower fork threshold to 10%

summary: if you’re pro-fork, you could get even more stoked if this passes. Krel.eth suggests cutting the fork threshold in half and halving the fork period. the intent: more alignment, competition among arbitrageurs, and efficient governance.

voting ends: october 2nd

Call for a Public Boycott on Nouns Auctions * URGENT * (#002)

summary: Noun auctions are plummeting (50% discount post-fork!), and some Nouns are sounding the alarm. the call to action? a resignation from Noun 4156 and a boycott until it happens.

voting ends: october 2nd

📝 what we’re reading & listening to

📄 Web3’s New Media Platforms: How This Female-Led Venture Dominated The Segment by maria paula fernandez

Boys Club is going pro! they’re exploring consumer crypto alongside other web3 media companies like Poolsuite and Zine. culture x blockchain: execution of the possibilities is just beginning.

📄 Security Council Elections

the first trustless, totally onchain, election of multisig members is happening! round 1 of Arbitrum Security Council elections is over. you can read more about why you should care about a Security Council, and decentralized elections of it, in this piece.

🐦 Machiavellian DAOs by miles jennings

thread on what a machiavellian DAO is and why it matters. it’s cool applying these renaissance philosophies to web3 ideas because they translate incredibly well.

💫 DAO talk: live from new york, it’s DAO talk || DT weekly ep. 56

🤭 meme of the week


Messari mainnet in NYC was a blast! The next event we’ll see you at is devconnect in istanbul in november. also, Arbitrum Security Council round 1 has concluded with 24 candidates meeting the vote threshold—now, a 2-week compliance check before we begin round 2.

Subscribe now

~ coolhorsegirl 🐴

p.s.- some more IRL pics of the Tally GTM team from NYC, from Dennison’s camera. the soju cocktails went extremely hard.

fork yeah!

welcome back to the Tally newsletter, your weekly source for DAO governance insights. i’m coolhorsegirl and i’m so happy to be here. 🟣

the first Nouns fork has its critics and its evangelists. XXXad

this week, proposals come from Aave, Dope Wars, and NounsDAO. let’s just say that things are getting fiery(!!) after the fork. here we go 👇

🤿 deep dive: fork yeah!

the first Nouns fork has executed. (if you need more info on what exactly that is, check out this previous newsletter.). the “last minority protection mechanism” now allows groups of Nouns holders to exit together into a new instance of their protocol, preserving momentum in the ecosystem while protecting the minority from the majority during contention.

anyone with a Noun can start a fork. forking is a big decision, considering the substantial treasury (~28,000 ETH) at stake. those who choose to fork together then join a forked DAO. if they leave the forked DAO can take their proportional share of the treasury with them in return for their Noun. critics argue that this could incentivize holders to fork solely because they see a fork as a better financial deal than remaining in NounsDAO. and this, of course, deprecates the Nouns treasury fork by fork.

proponents of forking argue that it “gives people the onchain right to exit for those who truly need to or want to.” Nouns has a lot of sub-groups building products aimed at the proliferation of Nouns (like this cafe, or this whisky). maybe this is just formalizing subDAOs? similarly, forks in DAOs are often implicit since anyone can redeploy an open-source code, and Nouns is making forks an explicit feature of governance—accessible by just clicking one button.

regardless of your thoughts on the topic, the fact is this: Nouns is now a multi-party system. since Nouns (the art) is in the public domain, no group has more ownership over the meme itself. that means that this system could see some friendly competition where different forks can experiment with new features, configurations, and goals. it could breed innovation (especially needed in this bear market that has affected Nouns, like most projects, to some degree). it could also damage the book value of Nouns beyond repair. we’ll have to see.

⌛️ onchain proposals

👻 Aave

Rescue Mission Phase 2, 3

summary: rescue mission was created to support users of the Aave ecosystem who mistakenly sent tokens to the wrong smart contract addresses. this proposal outlines the final stages ‘til implementation.

voting ends: september 22nd

😊 Dope Wars

DIP-59(C) – Turf Builder (Pt. 3)

summary: the game is looking more legit by the day. this proposal is to fund part 3 of the Turf Builder with $6150 (additional), intending to release the first MVP for the game product. passed on Snapshot.

voting ends: september 22nd

🟡 NounsDAO

Noun en Scène (aka Mise en Scène with Noun ‘Muppets’)

Summary: 90k USDC + 1 noun to create still shots with Nouns muppets of “everything that captures the visual world” of a noun. Think of Dorothy, the lion, the scarecrow, and the tin man marching hand in hand on the yellow brick road. it captures what the wizard of oz is all about. with this proposal, the same could be done with nouns.

Voting ends: september 22nd

📝 what we’re reading & listening to

📄 How Blockchain is Unleashing a Governance Revolution w/ Cedric Warny on GreenPill

fresh off the Nouns fork, Owocki and Cedric talk how successful exit options are architected, the potential (re)evolution of coerciveness, and hit the basics of blockchain to discuss some of onchain governance’s most troubling questions.

🐦 DAI’s biggest holder by 0xngmi

the biggest holder of DAI is an EOA address where people just send money to get governance tokens of the main univ2 fork on pulsechain, and it’s not a burn address. that means that there is 278M sitting in someone’s wallet.

🐦 doing a “headless swap” via swp.eth by limes.eth

DO NOT MISS THIS ONE. this, and the forum post linked, is crazy. and super decentralized. built on ENS is one of the coolest (and most useful) tools I’ve seen in crypto in 2023 (and maybe ever, dare i say?).

💫 DAO talk: all the way DAOd up || DT weekly ep. 55

🤭 meme of the week

on Tally, the Arbitrum Security Council Election is live! round 1—during which you can register as a candidate and vote for candidates to qualify them for round 2—lasts until september 22 (this friday). you can find out more about how to participate in our docs.

and don’t forget—if you’re in new york this week, hit us up! we’d love to chat.

Subscribe now

~ coolhorsegirl 🐴

p.s.- met Tommy and Frisson in person this week in NYC!! was a long time coming, and i can confirm that Tommy is no short king (he’s 6’3, really). here’s us at a metal bar.

MakerDAO and the multichain thesis

welcome back to the Tally newsletter, your weekly source for DAO governance insights. i’m coolhorsegirl and i’m so happy to be here. 🟣

MakerDAO is going mulitchain. it looks like we can’t discount Solana as CEO rune announces it as his top pick for the transition. this move could set a precedent against chain tribalism, and the reasons for it are worth diving into.

Gitcoin has got a proposal for governance budgeting newly funded by the GCP and Diva Staking is hitting the ground running with some decision-making on incentives for early users. let’s get into it 👇

🤿 deep dive: MakerDAO and the multichain thesis

the 5th and final phase of MakerDAO’s “endgame” is the launch of a native blockchain dubbed “NewChain.” why’s this needed? “to allow the ecosystem to use hard forks to gracefully recover from the most severe form of governance attacks or technical failures,” says CEO rune christensen.

his pick: Solana. he gives three reasons: (1) the technical quality of the Solana codebase, (2) the resilience of the Solana ecosystem having survived the FTX blowup (and their very close relationship), and (3) the examples of the Solana codebase being forked and adapted to act as appchains already in existence. yeah–i was also surprised. the second-most-liked comment on the post is a simple “please tell me this is a joke.”

but there are things to be said about going multichain. the multichain thesis advocates for interoperability and collaboration between different blockchain networks (like Ethereum and Solana), rather than relying on a single blockchain for all dapps and transactions that come out of one project.

in a lot of ways, multichain screams efficiency. we know Ethereum prioritizes security over high-speed (and cheap) transactions. Solana has that low latency we miss out on in Ethereum but it’s at the expense of security, among other cons like centralization concerns. if MakerDAO’s priorities align with Solana, the ecosystem should, theoretically, be more efficient, which would (again, theoretically) result in a better user experience.

as MakerDAO embarks on this ambitious journey, it reflects the broader trend of a multichain future where projects are not confined to a single blockchain. it’ll be interesting whether this sets a precedent for other projects or if we all stick to the chain we know and love.

⌛️ onchain proposals

💚 Gitcoin

[GCP-007] S18 Fund Thin Governance

summary: using the GCP process to fund base operational governance, since the DAOops workstream has closed operations. this will fund S18 with ~$20k.

voting ends: september 14th

🔵 Diva Staking

[DIP-02] T&Cs for TVL incentives to Pre-launch Early Stakers

summary: provides 1.30-2.50 DIVA/ETH/day, higher for earlier participants before & after Diva mainnet launch (30 day prior & until 5 months after) with a capacity of 100 ETH.

voting ends: september 15th

[DIP-03] Commit to latest deadline for DIVA token transferability

summary: enables transferability for DIVA tokens, with the exact ETA to be determined, but at latest at the end of the Early Stakers’ initiative as described in DCP-01 and outlined in DIP-02 (pending approval).

voting ends: september 15th

📝 what we’re reading & listening to

📄 The Endgame or the Beginning of Infinity? by BanklessDAO

an editorial about what it means for MakerDAO to dissolve its current structure in favor of one built of subDAOs, using the efficiency gained via its initial centralized model as a foundation for progressive decentralization.

🐦 Maximize Ownership, Minimize Governance w/ Jess Walden on On the Other Side

if you’re a believer in decentralization, you’re probably against complete hierarchy, but what about consensual hierarchy? they discuss this, among other contradictions to common web3 thoughts, like decoupling governance and ownership.

🐦 40% of Nouns are are quitting the DAO and claiming a refund by hunter solaire

the effects of the recently passed Nouns fork are happening, and they have some major implications for NounsDAO and potentially DAOs on the whole. hint: who can turn down 15 ETH?

💫 DAO talk: it’s not a DAO, it’s crime || DT weekly ep. 54

🤭 meme of the week

a shameless self-plug

and, what you’ve all been waiting for: zkSync is live on Tally. and more chains, coming soon.

Subscribe now

~ coolhorsegirl 🐴

p.s.- this was my submission for the egg-off of 2023 with my friends in Edinburgh. gotten really into eggs of the poached variety lately. i placed 3rd of 11.

the onchain thesis

welcome back to the Tally newsletter, your weekly source for DAO governance insights. i’m coolhorsegirl and i’m so happy to be here. 🟣

“the onchain thesis”—the reason Tally serves decentralized organizations that govern onchain. in this issue, we’re breaking down exactly what that means to us.

we’ve got a just a few proposals live this week: Arbitrum’s to adjust parameters in Arbitrum One governance and NounsDAO’s to take the final steps to get their purchased sculpture to its home in Manhattan. and we’re going to NYC, soon, too. let’s get into it 👇

🤿 deep dive: the onchain thesis

Tally has some new docs. today, we’re highlighting one at the core of why we do what we do: “the onchain thesis.”

in the rapidly advancing world of decentralized systems, onchain governance stands as a transparent and equitable mechanism. this structure ensures that all decisions, proposals, and votes are meticulously recorded on the blockchain. at Tally, we believe that truly decentralized organizations operate onchain.

the blockchain’s inherent security features are a cornerstone of onchain governance, significantly reducing the risk of fraud or manipulation. this trustless environment, where rules are automatically enforced and executed, eliminates the need for intermediaries. integrity is guaranteed.

moreover, onchain governance encourages inclusivity, allowing any token holder to participate in the decision-making process, regardless of their geographical location or the size of their holdings. this democratic approach ensures that the perspectives and interests of all stakeholders are considered, fostering decisions that resonate with the broader community. inclusivity is prioritized.

by automating processes such as the distribution of rewards or the execution of approved proposals, onchain governance reduces the need for manual intervention and minimizes the risk of human error. this efficiency allows the community to focus more on innovation and development, paving the way for a smoother operational flow. security is strengthened.

onchain governance offers a promising pathway towards a transparent, inclusive, and secure future. it leverages blockchain the way it should be: to foster trust and collaboration among its users. join Tally as we navigate this evolving landscape, bolstering community-driven decision-making at the heart of onchain governance.

⌛️ onchain proposals

💙 Arbitrum

AIP-7: Arbitrum One Governance Parameter Fixes

summary: addresses three independent issues with the Arbitrum One governance system: (1) updates the airdrop distributor fee sweep address to the DAO treasury’s address, (2) changes sequencer gas fee reimbursement parameterization, and (3) amends L1 core governance timelock scheduleBatch Bug.

voting ends: september 7th

🟡 NounsDAO

Place Dustin Yellin’s Nouns Sculpture at Zero Bond (NYC)

Summary: 9 ETH to fund the transportation and installation of Dustin Yellin’s sculpture at Zero Bond and back to the artist’s Brooklyn studio at the conclusion of the loan period.

Voting ends: september 7th

📝 what we’re reading & listening to

📄 “Secret Notes And Anonymous Coins: Examining FinCEN’s 2019 Guidance On Money Transmitters In The Context Of The Tornado Cash Indictment” by Benjamin Gruenstein, Evan Norris, and Daniel Barabander

we know the Tornado Cash decision has huge implications across crypto. but is the DOJ justified? for anyone interested in regulation, this paper does a great job explaining how DOJ ignored FinCEN’s guidance on the definition of “money transmitter.”

🎧 “Journey of a transaction w/ Jill Gunter” on On the Other Side

what happens after you submit a transaction? a technical explainer for us non-techies. MEV, sequencers, different types of L2s—all are covered.

🐦 ”the biggest crypto innovation of 2023? the discourse” by David Phelps

a cool walk-through of the year honing in on the importance of “social consensus”—what David believes bolsters ETH’s use case as a gas token compared to the tokens of popular rollups.

💫 DAO talk: for all the DAOs || DT weekly ep. 53

🤭 meme of the week

going to Messari Mainnet? we’ll be there too, from september 18th. we’re holding an event on the 21st at Reception Bar and we’d love to meet you—mint an invite from september 8th onward.

Subscribe now

~ coolhorsegirl 🐴

p.s.- another day, another dog client—this is Prince Charles. i am edinburgh’s most prolific dog watcher (verifiably, i am ranked #1 on the app).

the metagovernance question

welcome back to the Tally newsletter, your weekly source for DAO governance insights. i’m coolhorsegirl and i’m so happy to be here. 🟣

should DAOs participate in the governance of other DAOs? this is the metagovernance question, and it’s especially relevant coming off the $ARB airdrop.

onchain proposals are coming from Arbitrum, Uniswap, and Dope Wars (oooh, revamp!) this week. and, Gitcoin is setting budgets for next season for a number of different streams. let’s get into it 👇

🤿 deep dive: the metagovernance question

the Arbitrum airdrop happened all the way back in march (>5 months ago now!), but not all $ARB is delegated from the big winners of the airdrop. one of these winners who isn’t voting yet in Arbitrum is Uniswap (currently holding 2M of $ARB). Uniswap just passed Fund Combined Liquidity Incentivization Program to finally distribute this $ARB amongst its community, including 1,779,950 for liquidity incentives. Gauntlet will receive 150k $ARB, OpenBlock 15k $ARB, and Angle Merkle 3% of distrubted $ARB.

this begs the question: should DAOs participate in other DAOs’ governance (or, by extension, give other DAOs’ tokens to their community members to vote with, keeping in mind that these voters would likely want to boost the agenda of the DAO that gave them the tokens since they participate in it)? let’s break down the arguments.

team ‘yes’ is all in, arguing that DAO participation across the ecosystem is key to a more decentralized and democratic governance structure. letting tokens trickle down from the DAO as a whole to participants can lead to more informed and balanced decision-making and helps prevent power from being concentrated in the hands of a select few. they may also say that DAOs earn these airdropped tokens, and thus have the right to have (an often large) say in the DAO.

team ‘no’, however, is sounding the alarm bells. they argue that allowing DAOs to participate elsewhere opens the door to manipulation by a small group of individuals or entities holding a large amount of tokens. in this case, that would mean Arbitrum becoming controlled by Uniswap (or again, by extension, Uniswap participants who would want to bolster the goals of Uniswap). this could lead to decisions that benefit the few at the expense of the many.

so who has got it right? metagovernance, like most things in the DAO world, is an early venture into what we can do with blockchain. we’ll follow the voting results of Uniswap’s ARB delegation closely and keep you updated.

⌛️ onchain proposals

💙 Arbitrum

AIP-7: Arbitrum One Governance Parameter Fixes

summary: addresses three independent issues with the Arbitrum One governance system: (1) updates the airdrop distributor fee sweep address to the DAO treasury’s address, (2) changes sequencer gas fee reimbursement parameterization, and (3) amends L1 core governance timelock scheduleBatch Bug.

voting ends: september 7th

😊 Dope Wars

DIP-79(b) DopeWars Mean Streets

summary: DopeWars Frenzy has evolved past a simple PvP game and will be rebranded to DopeWars Mean Streets. this drives that forward, including expansion of modes and features.

voting ends: september 5th

DIP-78 DIP-80 OA Amendments

summary: executes two offchain votes that have passed: DIP-78: Operating Agreement Amendment and DIP-80: Contracting with Dope DAO and Intellectual Property.

voting ends: september 2nd

💚 Gitcoin

it’s budget proposal time! voting for each ends by friday.

PGF S19 Budget Request

[S19 Proposal Amended] MMM S19 Budget Request

[S19 Proposal Amended] Allo S19 Budget Request

[S19] Gitcoin Passport Budget

[S19 Proposal Amended] Grants Stack

📝 what we’re reading & listening to

📄 “Safeguarding On-chain Governance” by matt stein

we’ve talked a lot about risk management, right? this addresses some of the governance safeguards we see commonly and their pros and cons. it’s a helpful, holistic take on what works and what doesn’t for different types of organizations.

📄 “Code of Ethics” by fehz on Decentraland’s forum

not too long ago someone told me that codes of ethics were a “bull-run thing.” weird to hear aloud but potentially not so far from the truth in terms of what is actually prioritized during bears. good to see Decentraland writing their own during this time, and potentially one of those “bear is almost over” signals we’ve been looking for.

🐦 “Takeaways on” by david phelps

the future of social media or a soon-to-be-failed experiment? has proved a divisive topic since its start; now that we’re seeing use and value diminish, it’s helpful to hear more data-driven takes on its past and future like this one.

💫 DAO talk: keep your friends close and your DAOs closer || DT weekly ep. 52

🤭 meme of the week

Tally has revealed some updated and upgraded docs! If you need some technical help navigating Tally or you just want to learn about the onchain governance system and DAOs in general, check it out.

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~ coolhorsegirl 🐴

p.s.- dog at the pub! we won the latest pub quiz via a question about the 3 countries that are completely landlocked: Lesotho, Eswatini, and Vatican City. easy money.

the solution to low voter turnout

welcome back to the Tally newsletter, your weekly source for DAO governance insights. i’m coolhorsegirl and i’m so happy to be here. 🟣

this week, we’re talking low voter turnout, which some may not think is a bad thing in DAOs. lucky there’s certainly a solution of sorts for an issue that plagues all elections, decentralized or not: delegation.

we’ve also got proposals from Arbitrum, Lil Nouns, and NounsDAO. yes, security council elections are getting closer and closer to kicking off! let’s get into it 👇

🤿 deep dive: the solution to low voter turnout

DAOs represent a revolutionary approach to governance, allowing members to have a direct say in decisions through token-based voting. but just like traditional elections, DAOs face the challenge of low voter turnout. whether its because you received an airdrop for a protocol you no longer use, you reckon your few tokens won’t make a difference, or you don’t know how to vote, low voter turnout is an issue in the vast, vast majority of DAOs.

in the context of DAOs, low voter turnout isn’t just a numerical concern; it’s a threat to the very essence of decentralized governance. when only a small fraction of members participate in voting, decisions can easily be swayed by a few large token holders. this concentration of influence contradicts the democratic ethos of DAOs, where decisions should ideally reflect the collective will of all members.

comparisons to the American elections are illuminating. yes, low voter turnout in American elections is constantly talked about—”make your voice heard,” “you can’t complain if you don’t vote,” even giving out stickers to encourage you to do so. some, though, argue it’s a good thing not everyone votes—if you self-evaluate to not have the knowledge required to make an informed decision, they say, then it’s better to let those who know what’s up to handle the voting. (this, of course, is thinly veiled disenfranchisement.)

but DAOs have a better system. unlike the binary choice in many representative democracies, DAOs allow members to delegate their voting power to any of thousands of participants. this means that even if an individual feels uninformed or apathetic, they can entrust their vote to someone they believe has the expertise and alignment with their values. now imagine if you could delegate in the American elections to your best friend or family member, not some random politician you vaguely agree with.

still, it’s an interesting case study that even in DAOs (which inherently imply the importance of group decision-making), power can corrupt those who deem low voter turnout a non-issue. delegation not only boosts voter turnout but also ensures that decisions are made by those with a deep understanding of the issues at hand—and that’s just another reason that we prioritize its use.

⌛️ onchain proposals

onchain DAOs are decentralized autonomous organizations that operate entirely on the blockchain, using smart contracts and other blockchain-based technologies for its operations and decision-making processes. Tally believes that true DAOs operate onchain.

💚 Arbitrum

AIP 6: Security Council Elections Proposed Implementation Spec

summary: submitted by the Foundation, this proposal breaks down the specs of implementation for the upcoming security council elections. big read: there are a lot of ‘em.

voting ends: september 3rd

🚊 Lil Nouns

The (not so) Lil Nouns Show – Revised

summary: after previous proposal failed, this is revised with 3 key changes: extended duration by 25%, included a retro for 3 weeks, and decreased ETH ask.

voting ends: august 25th

🟡 NounsDAO

Nouns DAO V3 upgrade, including Nouns Fork (Will Not Cancel)

Summary: so the previous proposal to upgrade was canceled before execution, after near-unanimous approval. the proposer bills this proposal as “a statement of resilience, a pledge that will not be broken or canceled.”

Voting ends: august 24th

📝 what we’re reading/watching/listening to

📄 “Ushering in the next chapter for USDC” by Jeremy Allaire and Brian Armstrong

USDC is launching on 6 new blockchains, Coinbase is increasing its support for stablecoins with an investment in Circle, and Circle will take full control over USDC issuance and governance. big stuff, all of it.

📄 “ Is Saving Twitter” by 0xCaptainLevi

whether you’re in the sauce or not, this is a good (and entertaining) read. basically a “why matters” thought piece that goes deep into versus twitter and the how fills some increasingly glaring gaps

🐦 “Why NOT to use your protocol’s native token as your rollup’s gas token” by Andrew Huang

a very relevant thread that includes exceptions that prove the rule, and a potential alternative for token value accrual

💫 DAO talk: the driver DAOer || DT weekly ep. 51

🤭 meme of the week

from @BoysClubWorld

now, tokens locked in Hedgey v2 smart contracts can delegate and vote on Tally! read the full upgrade thread and as per, get started on!

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~ coolhorsegirl 🐴

p.s.- it’s still a beautiful summer in edinburgh as we wrap up the comedy festival. i’m busy watching my friend’s new husky and crushing pub quizzes!

base(d) anti-rug technology

welcome back to the Tally newsletter, your weekly source for DAO governance insights. i’m coolhorsegirl and i’m so happy to be here. 🟣

Coinbase’s L2 Base has launched and is live on Tally. one big takeaway: memecoins should become DAOs. i’ll let you read the connection between those two below.

Gauntlet has some recommendations for Compound, Gitcoin is onchaining an already-passed-offchain proposal, Nouns is considering a public goods move at ETH singapore. let’s talk about it 👇

🤿 deep dive: base(d)anti-rug technology

welcome to onchain summer. Base is LIVE and Base is LIVE on Tally!

reminder: Base is an L2 incubated within Coinbase and built on the OP stack explicitly aimed at bringing the next billion users onchain. Base offers devs access to the EVM environment at reduced costs and introduces advanced Ethereum features. so far, so good, $-wise: the data speaks for itself. since launch on august 9, over $135m has been bridged to Base!

we’ve talked a lot about the tradeoffs between centralization and decentralization. it’s also an effort to decentralize Coinbase while using the partnership to get the best of both worlds—it ensures technology remains accessible to all, while its integration with Coinbase provides dapps easy access to a vast user base and products.

however, it’s not all smooth sailing. we’re talking BALD (sorry, brian armstrong), a memecoin/rug that was one of Base’s earliest projects to take off. after its developer removed 1,034 ether in liquidity (equivalent to about $1.9m), the coin experienced an 85% drop. brutal. (near) constant rugs, exemplified by the above, is the one of biggest problem Base—and other L2s in their infancy—faces.

we’ve joked internally that Tally is anti-rug technology, but it’s true, really. by enabling onchain decision-making, Tally ensures that tokenholders have governance rights. If the developer of BALD had used Tally, the 2-sided-liquidity move would have been prevented because tokenholders would have had the authority to stop such actions. next time, maybe.

rug prevention—just another reason why we DAO.

⌛️ onchain proposals

onchain DAOs are decentralized autonomous organizations that operate entirely on the blockchain, using smart contracts and other blockchain-based technologies for its operations and decision-making processes. Tally believes that true DAOs operate onchain.

💚 Compound

[Gauntlet] 2023-08-14: Ethereum WETH – Risk Parameter, IR Curve, & Incentive Updates

summary: to stimulate growth, Gauntlet proposes updating the IR borrow curve, liquidation bonus, and rewards for the protocol. these adjustments aim to increase capital efficiency and TVL growth by incentivizing higher utilization and more supply.

voting ends: august 19

🟢 Gitcoin

[GCP-007] Fund Thin Governance for Season 18

summary: just an onchain proposal that was passed several months ago on Snapshot to fund governance work during S1!

voting ends: august 17

Upgrade to Governor Bravo

voting ends: august 17

🟡 Nouns

Nounify Ethereum Singapore with Public Goods

summary: 27.6k USDC to (1) retroactively support public goods, (2) offer a hackathon bounty of 5k USDC, (3) buy wearable noggles for staff, and (4) gamify the swag distribution process with a Nouns questionnaire, and (5) support Nouns running club.

voting ends: august 18

🟨 LilNouns

The (not so) Lil Nouns Show

summary: 16.504 ETH for 12 more episodes of the Lil Nouns show on twitter spaces, so far with 13,101 listeners across 36 shows.

voting ends: august 17

📝 what we’re reading & listening to

📄 “Dodging The Tyranny of Structurelessness in DAOs” by Rika Goldberg

continuing the conversation on the delicate balance between decentralization and centralization, Rika contends that DAOs without a formal and deliberate governance structure fail because a covert structure takes hold that results in elites. we don’t want that, do we?

🎥 “Endgame: Proof of Governance” from Jon Charbonneau

Charbonneau argues that governance is the best way for a rollup to pick its sequencers. he points out that the status quo is kinda weird: why do L2s pick who validates users’ stakes, not the users themselves? this one’s relevance isn’t going away anytime soon.

📄 “Introducing Safe{Core} Protocol: Solving the wicked problem of smart accounts” by Safe

for the more technical out there, Safe released a whitepaper pitching a standard for upgrading EOAs (regular private key accounts/externally owned accounts) to smart accounts.

💫 DAO talk: the Base race || DT weekly ep. 50

🤭 meme of the week

Subscribe now

~ coolhorsegirl 🐴

p.s.- back in my favorite city for the rest of august, edinburgh! not infrequently do i run into people from my family clan around here. in august, there is a comedy festival that doubles the population of the city. here’s my favorite pinpoint in the world, this hill right under the castle.

risk management who?

welcome back to the Tally newsletter, your weekly source for DAO governance insights. i’m coolhorsegirl and i’m so happy to be here. 🟣

risk, risk, risk. we’re talking Curve hack, the associated Aave situation, and the practical effects of ineffective risk management. believe it or not, there’s one positive—increased decentralization of the protocol.

also, Arbitrum has not one, but TWO proposals live. Compound is considering adding MatixX and Nouns fork may be going live, too. let’s get into it 👇

🤿 deep dive: risk management who?

last, the defi AND DAO community was shaken by a significant security breach. Curve suffered a hack resulting in a loss of approximately $62m. the situation further intensified as michael egorov, the founder, faced the potential liquidation of a $60 million+ position on Aave, raising concerns about a broader defi meltdown.

let’s break it down: egorov put ~305m CRV into Aave and borrowed ~63.2M USDT against it. this meant that he could use CRV to buy liquid assets, like a house in melbourne, without driving down the price of CRV. liquidation would be triggered at a CRV price of ~$0.3188. if that happened, Aave would be stuck with debt and AAVE stakers would have to cover the shortfall.

it makes you think—is it on the Aave DAO or on you as an AAVE holder to research who Aave is allowing to take out loans (irresponsible founders, cough cough)? it’s led to some deeper conversations about the role of governance in lending protocols, too.

the root cause of the hack was traced back to an issue in the Vyper—Curve’s version of Solidity—compiler. several pools, including crv/eth, aleth/eth, mseth/eth, and peth/eth, were compromised. additionally, the Arbitrum tricrypto pool was flagged as potentially vulnerable, with Curve urging users to exit. gnarly.

however, amidst the drama, there’s a silver lining. the incident has inadvertently led to a more decentralized ownership of Curve, with founder and VC tokens being sold to 3rd parties. defi protocols and aligned founders are now in the picture.

and lucky, the hacker has already returned ~50m after Curve sent the hacker a message telling them they could keep 10% if they returned the rest. maybe we got lucky this time, but regardless, the Curve AND Aave situation is a vivid reminder to DAOs to proactively manage risk.

⌛️ onchain proposals

onchain DAOs are decentralized autonomous organizations that operate entirely on the blockchain, using smart contracts and other blockchain-based technologies for its operations and decision-making processes. Tally believes that true DAOs operate onchain.

💙 Arbitrum

AIP-3 [Non-Constitutional] Fund the Grants Framework Proposal Milestone 1

summary: this proposal requests 3,360,000 ARB (0.07% of the total treasury) to fund the first of three milestones in a comprehensive plan to build an Arbitrum DAO pluralistic grants grogram. at the end of milestone 1, pluralistic labs will have delivered: DAO native workshops, the grants program, and the grants program report.

voting ends: august 14th

AIP 4: Update Security Council Election Start Date to Ensure Time for Security Audit

summary: change the security council’s election start date from a “hard” annual september 15th to a more flexible date to ensure enough time to complete the audit before start.

voting ends: august 18th

🟩 Compound

Add MaticX as Collateral to USDCv3 Polygon Market

summary: using parameters from Gauntlet, this proposal would add MaticX to Compound. big: there is 20m+ MaticX on Polygon that haven’t been deployed on defi yet.

voting ends: august 11th

🟡 NounsDAO

Nouns DAO V3 upgrade, including Nouns Fork (edit)

Summary: this proposal upgrades the Nouns DAO logic contract to v3, with 5 key changes: (1) proposal editing, (2) propose by signatures, (3) objection-only period, (4) votes snapshot after voting delay, and (5) Nouns fork.

Voting ends: august 12th

📝 what we’re reading & listening to

📄 ”Rollups-as-a-Service Are Going to Zero” by Neel Somani

ignore the clickbait-y headline; this is a solid deep dive on rollup economics and exploration of shared sequencer endgames

🐦 “introducing SEAL911” by samczsun

a new telegram bot called SEAL911, solving the hardest part of responsible disclosure: finding the right person to talk to

🐦 Wake up honey! Governance is broken, again” by ivangbi

after the Curve hack and associated Aave situation, people are questioning the role of governance in lending protocols; this thread takes an “it’s not all bad” approach important to weighing the costs and benefits to DAO governance

💫 DAO talk: risk management has left the chat | DT weekly ep. 49

🤭 meme of the week

Tally is LIVE on Base! launching today, you can bridge your DAO to or build your DAO on base. we’re keen to see the first base DAO up on Tally!

Subscribe now

~ coolhorsegirl 🐴

p.s.- cookies in kensington gardens, nothing better than a mid-summer day in the sun with the king’s swans. did you know all the swans in london legally belong to the head of the royal family?

Uniswap X marks the spot

welcome back to the Tally newsletter, your weekly source for DAO governance insights. i’m coolhorsegirl and i’m so happy to be here. 🟣

this week, we’re talking UniswapX, which lives in the in-between of onchain and off-chain, and that has its pros and cons. decentralization maxi or not, it leads to an interesting debate over how much things like MEV-resistance weigh versus censoribility.

also, Arbitrum grants program is getting down to it with a proposal to fund milestone 1. ENS is considering expanding permissions in its endowment, and NounsDAO has some potential new traits on the table. let’s get into it 👇

🤿 deep dive: UniswapX marks the spot

it’s time we talked about UniswapX—Uniswap’s gasless ERC20 swap settlement protocol that aggregates all liquidity sources—after they announced it at ETHCC, and at Tally we’ve certainly got some big fans of UniswapX. let’s talk about why UniswapX is SUCH a big deal in the discussion of what lives onchain versus off and decentralization as a whole.

UniswapX is a protocol that’s owned by the Uniswap DAO’s timelock contract and has a fee switch controlled by the DAO. it’s not an AMM, but it complements the AMM by more effectively working against problems that the AMM can’t (namely, MEV and gas-intensive swaps). the protocol will improve on Uniswap by offering private offchain RFQs (requests for quotes), which prevents MEV attacks like front-running and sandwiching.

there are onchain components like the execution of trades and the management of liquidity. then there are also offchain components (APIs and user interfaces) that interact with the X protocol that are not owned or controlled by the DAO. several parts remain up for debate in regard to DAO ownership—that discussion is live on Uniswap’s forum now.

mind you, this isn’t a crazy new thing—CowSwap has done something similar for years, but CowSwap acts as an offchain liquidity aggregator on top of DEXs. UniswapX, rather, is an offchain liquidity aggregator built on top of Uniswap v3 (and only Uniswap). it’s a beautiful, well-tested method.

it seems like the offchain components, though, make UniswapX less decentralized than Uniswap, and that has consequences, like censoribility. for example, while Uniswap could not be shut down (due to company decision, the SEC, whatever), UniswapX could (theoretically) be shut down. How? For one, Uniswap Labs could permission the RFQ system to allow some access to liquidity and not others. whether that centralization matters will vary from one decentralization maxi to another, but hey, the whitepaper is only 3 pages—definitely worth a read on one of the most up-and-coming projects in crypto, especially one related (we don’t know how much, yet) to a DAO.

⌛️ onchain proposals

onchain DAOs are decentralized autonomous organizations that operate entirely on the blockchain, using smart contracts and other blockchain-based technologies for its operations and decision-making processes. Tally believes that true DAOs operate onchain.

💚 Arbitrum

AIP-3 [Non-Constitutional] Fund the Grants Framework Proposal Milestone 1

summary: this proposal requests 3,360,000 ARB (0.07% of the total treasury) to fund the first of three milestones in a comprehensive plan to build an Arbitrum DAO pluralistic grants grogram. at the end of milestone 1, pluralistic labs will have delivered: DAO native workshops, the grants program, and the grants program report.

voting ends: august 14th


[EP4.1] [Executable] Approve further actions and strategies for the Endowment

summary: this proposal introduces additional actions and strategies to the ENS endowment, which enhance the endowment’s performance, adaptability, and diversification. permissions granted to kartpackey require regular updates, and this is one.

voting ends: august 3rd

🟡 NounsDAO

Lowering the USDC amount held by the Payer contract from the current 500,000 USDC to 200,000 USDC

Summary: with the first version of the upcoming upgrade the treasury assets are currently held by the tokenbuyer and the payer contracts are not included in the forking calculation so members who decide to fork wouldn’t receive their fair split. this would amend to ensure fair forking.

Voting ends: August 6th

Integrate 8/8 Anniversary Art 2023

summary: to celebrate the 2-year anniversary of Nouns DAO, 6 contributors submit 8 new heads and 2 new accessories for approval and addition to the protocol.

voting ends: august 6th

Support Creative Commons

summary: CC0, a “no copyright reserved” option in which all copyright is relinquished and dedicated to the public domain, requests 100ETH to maintain licenses.

voting ends: august 6th

📝 what we’re reading & listening to

📄 “New U.S. Senate Bill Wants to Regulate DeFi Like a Bank” by danny nelson stringent anti-money laundering requirements on defi protocols could be the shift to the forefront of relevant regulatory questions for DAOs.

🎥 “Designing Effective Governance” from porter smith of a16z

a cool history lesson with some insight into the future from the firm at the forefront of it all the history, and some comparisons between web3 governance systems and those we’re used to, your time-tested democracy.

🐦 “DAOs are meant to be…” (and the discourse below) from lemiscate

ah, the age-old question…should DAOs have a CEO/board? it’s a nuanced one, but this is a simple take on what it means to truly differentiate from a typical web2 organization.

💫 DAO talk: do you even decentralize, bruh? || DT weekly ep. 48

🤭 meme of the week

Tally is excited to support @arbitrum DAO’s upcoming security council election! check out this tweet for a sneak peek of the interface thousands of delegates will use to decide the (6) members of the Arbitrum DAO security council! and learn more about the council here.

Subscribe now

~ coolhorsegirl 🐴

p.s.- everyone loves a dog pic, don’t they? introducing my flatmate’s new french bulldog, gherkin (that’s what the british call a pickle).

The Arbitrum Security Council Election Primitive

Welcome back to the Tally Newsletter, your weekly source for DAO governance insights. I’m coolhorsegirl and I’m so stoked to be here. 🟣

This week, we’re talking a massive launch on onchain governance: the Arbitrum Security Council, backed by Tally’s election primitive. Elected onchain, these 12 members will be critical to the safe and sustained development of the Arbitrum ecosystem, and elections are coming up soon.

We also have a few proposals from Uniswap (re Base launch!), Rari Foundation governance improvements, and the usual from NounsDAO. Here we go 👇

🤿 Deep Dive: The Arbitrum Security Council Election Primitive

Onchain elections are HAPPENING, thanks to Arbitrum DAO’s Security Council backed by Tally’s election primitive.

The Arbitrum Security Council is always on call to tackle the critical risks threatening the Arbitrum ecosystem. This 12-member team doesn’t just appear out of thin air; they’re democratically elected by DAO members every six months. Each member signs up for a one-year tour of duty, with the first batch of members set to begin their term on September 15, 2023.

Their mission is to make crucial, time-sensitive decisions to protect the DAO, its members, and the wider Arbitrum community. But remember, with great power comes great responsibility. The DAO’s members are the watchful eyes, keen to give any council member the boot (via onchain proposal) if they’re not acting in the DAO’s best interests.

So, how does one join this league of individuals? Well, you need to be an Arbitrum DAO member and have the backing of at least 0.2% of all votable tokens (delegates, we’re looking at you). The election process is as transparent, with the top six vote-getters earning a seat on the council. But there’s a catch – no organization can have more than three of their own in the council, and candidates must be as free of conflicts of interest.

The Security Council elections are the pulse of the Arbitrum DAO’s governance, democratically determining who gets to safeguard the DAO’s security and integrity. Regular elections ensure the council is a true reflection of the DAO’s values, not some rogue assembly of villains.

How the smart contracts work: The initial stage involves nominee selection, managed by the SecurityCouncilNomineeElectionGovernor contract, where candidates register and secure endorsements. Post selection, a Compliance Check is conducted by the Foundation to ensure nominees meet all requirements. The Member Election stage follows, managed by the SecurityCouncilMemberElectionGovernor contract, where votes are cast and decay over time to encourage early voting. After the election, the Security Council manager updates its list of council members and sends these updates to each of the Security Council Gnosis safes through a series of timelocks and withdrawals. Finally, the newly elected members are installed into the Gnosis safes, completing the process.

And the UI behind elections? That’s us—Tally!

⌛️ Onchain Proposals

Onchain DAOs are decentralized autonomous organizations that operate entirely on the blockchain, using smart contracts and other blockchain-based technologies for its operations and decision-making processes. Tally believes that true DAOs operate onchain.

🟨 Rari Foundation

RRC-10: H2 2023 RARI Foundation Operational Budget

Summary: 611,800 USDC to ensure the continuity of the Rari Foundation team and operations and reflects the focus areas as identified by the community for the next 6 months.

Voting ends: July 30th

RRC-11: On-chain Protocol Governance and Security Council

Summary: 2 things: (1) establish a process by which the RARI DAO will be able to propose, vote on and execute updates and changes to the Rarible Protocol’s core contracts directly on-chain via self-executing actions and (2) establish a 3-person Security Council to perform emergency actions and routine maintenance to the protocol.

Voting ends: July 30th

🦄 Uniswap

Uniswap v3 on Base

Summary: After the temperature check for this proposal passed 100% to 0%, this proposal aims to deploy Uniswap v3 on Base. Base has launched on Mainnet for developers and aims to onboard users in August.

Voting ends: July 28th

🟡 NounsDAO

Establish Nouns FGC (Fighting Game Community) at EVO 2023

Summary: 36k USDC to absolutely deck out players at EVO (expected over 7k people), the world’s largest fighting game tournament. That means swag galore, noggles of course, and planned media coverage. Unused funds will be returned.

Voting ends: July 27th – A Nounish Public Goods CC0 Library

Summary: 25 ETH to continue the development for 3 months of, a platform that gathers all nounish cc0 materials & contents in one location for easy access and use.

Voting ends: July 28th

Extend maty’s Nouns Proposals Tracking Work

Summary: Fund maty to continue tracking all funded Nouns Proposals and writing the weekly newsletter for 4.5k USD/month. 4500 USDC/monthmonth until the end of 2023, a total of 36.000 USDC (including some retro pay).

Voting ends: July 29th

Make Droposals Great Again

Summary: 20 ETH to build a super fast and easy to use droposal (proposal to issue Nouns media as canonical NFTs from the DAO) creator that also automatically updates and and other frontends to feature any drops that the DAO approves.

Voting ends: July 31st

📝 10 Things To Read or Listen To

📄 “What do I think about biometric proof of personhood?” by Vitalik Buterin

🧵 “Representative governance via onchain elections” by Frisson

🧵 “9 takeaways from ETHCC” by David Phelps

🧵 “Worldcoin and Biometrics” by Ryan Berckmans

🧵 “Is Proof-of-Personhood techno-colonialism?” by Dennison Bertram

🧵 “Why DAO Masters Shut Down” by Julia Lipton

🎧 Security Council Elections Proposed Implementation Spec” on Arbitrum Forum

🎧 “Should XRP holders really be rejoicing?” on The Chopping Block

🎧 “Legal Framework for DAOs” on Cryptosapiens

🎧 “How EIP-6968 will Change Web3 Incentives with Zak Cole” on GreenPill

💫 DAO Talk: the DAOs are forking || DT weekly ep. 47

🤭 Meme of the Week

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~ coolhorsegirl 🐴

p.s.- Back home to London! After 3 years, Big Ben’s construction is done, the weather is warm, and I’m absolutely ripping my favorite kebab shop.

Validation with No Stakes Attached

Welcome back to the Tally Newsletter, your weekly source for DAO governance insights. I’m coolhorsegirl and I’m so stoked to be here. 🟣

Rollups need to safely and efficiently decentralize. Onchain governance is the answer. This week, we’re breaking down exactly why, with an explanation of Proof-of-Governance (PoG), a new standard exemplified by Arbitrum’s Security Council. This is an important one.

We’ve also got proposals for Public Nouns and Nouns, including one to sponsor a certain pizza party happening next week at ETHCC (count me in), along with a proposal for the retirement of Snapshot on PoolTogether. Let’s get into it 👇

🤿 Deep Dive: Validation with No Stakes Attached

To achieve credible neutrality over time, rollups need to decentralize. To decentralize, rollups need validators. But permissionless validators (like DPoS) can misbehave (resulting in user funds slashed), so rollups need some other version—something decentralized and permissioned. Thus, there’s only one way to safely decentralize: onchain governance.

Let’s break this down.

Enter Jon Charbonneau, a well-known voice for rollup decentralization. Right now, what’s common is Proof-of-Authority, a validation model that uses validators often chosen based on their reputation. Last week on Twitter, he suggested we swap out the term “PoA” for a more fitting “PoG” (Proof-of-Governance). PoG encapsulates the essence of a system where delegates are chosen through a governance process. It’s not just about authority; it’s about the process of governance that leads to that authority.

“Can’t users just stake to validate?” you say. Jon believes that most rollups should ditch staking. No more locking up tokens to support network operations. Instead, he’s advocating for a system where governance elects delegates to run PoA (or rather PoG, since they’re elected) or a simple round-robin style system.

PoG isn’t just a traditional Delegated Proof-of-Stake (DPoS), though. In traditional DPoS, user funds can get slashed if delegates misbehave. In PoG, user funds are not at risk because they are not staked in the first place. If a delegate acts maliciously, user funds aren’t lost.

How’s PoG look in practice? Check out Arbitrum Security Council, 12 members who are elected by the members of the Arbitrum DAO through a democratic process responsible for addressing risks to the Arbitrum ecosystem. Arbitrum’s onchain governance model (on Tally!) ensures ethical and efficient PoG where all actions are transparent and immutable, that all members have an equal opportunity to participate, and all rules are enforced automatically and securely.

PoG—yet another case for onchain governance.

⌛️ Onchain Proposals

Onchain DAOs are decentralized autonomous organizations that operate entirely on the blockchain, using smart contracts and other blockchain-based technologies for their operations and decision-making processes. Tally believes that true DAOs operate onchain.

🚊 Public Nouns

Upe | Crowdsourcing hyperlocal community information in Latin America

Summary: Upe—a single, convenient place to aggregate and verify important information so that everyone can access it in developing nations—needs funding to iterate on their initial experiment (testing whether Upe is interesting to locals). They’re asking for 5 ETH to onboard the local community and to sponsor community activation events.

Voting ends: July 15th

Partnering to Launch QF on Giveth

Summary: Giveth is asking for a donation of 5 ETH to the matching pool of Quadratic Force in exchange for brand exposure, project contributions, and GIVbacks (up to 80% donation value back in GIV tokens). Public Nouns would be a founding member of the QF.

Voting ends: July 17th

PizzaDAO + Frens are throwing a Pizza Party for the People @ ETH CC 2023!

Summary: 0.75 ETH to sponsor PizzaDAO’s Pizza Party at ETHCC next week. Beers included!

Voting ends: July 17th

🟡 NounsDAO

Redefining Nouns-Powered Change with Mucho Love

Summary: 159,100 USDC + 1 Noun to continue funding Mucho Love, a Nouns-powered social impact platform, over the next 6 months. Some big progress already, more to come.

Voting ends: July 16th

⌐◨-◨ x Pudgy Penguins

Summary: In the effort of meshing two of the fastest growing brands in web3, this collab would mean a high-end toy collection on NTWRK with a percentage of profits going towards the purchase of a Noun to bring the Huddle into the DAO.

Voting ends: July 16th

🟣 PoolTogether

PTIP-87 Winding down the POOL pool Snapshot

Summary: The Snapshot hasn’t reached quorum since March 2022.

Voting ends: July 15th

🔒 Unlock

Switch Timelock admin role to the new Governor

Summary: Unlock is upgrading to a new version of the Open Zeppelin governor contracts to benefit from recent improvements. Get the whole story here. (This is cool!!)

Passed, awaiting execution

📝 10 Things To Read or Listen To

📄 “Decoding DAOs activity – The importance of a multidimensional data analysis” by

📄 “‘This Protocol Is Brought to You By’: An Onchain Model for Web3 Advertising” by Mason Nystrom

📄 “Prophet Motives & Knightwork States” by Wassim Z. Alsindi

🧵 DAOs are broken” by 0xSydney

🧵 “Away from working groups and toward domain-specific governance layers” by Chase Chapman

🎧 “Adding Spice to Venture Capital w/ Maya Bakhai” on Rehash

🎧 “Digiphysical goods w/ Nich Kesonpat” on On the Other Side

🎧 “Building an Equitable Ownership Economy: Insights from Dr. Corey Rosen on Employee Ownership and ESOPs” on The Ownership Economy

🎧 “How EIP-6968 will Change Web3 Incentives with Zak Cole” on GreenPill

🎧 ”Designing effective governance | Porter Smith” from a16z crypto

💫 DAO Talk: don’t DAObt me || DT weekly ep. 46

🤭 Meme of the Week

We’re going to ETHCC next week in Paris! Mark your calendars—Our CEO Dennison Bertram will give a talk on “The Hyperscale Public Infrastructure Thesis for DAOs” at 3:35pm on Thursday, July 20th on the Main Stage. (FOMO hitting? You can livestream it or watch the replay, no worries.)

If you want to meet up, let us know via Twitter DM. We’re excited to meet you.

Subscribe now

~ coolhorsegirl 🐴

p.s.- I’M FULL-TIME AT TALLY! It’s been a long time coming, and I’m so happy to be here. This being my first week, I spent my last day of unemployment at a local farm in Bangkok. Look at all the bunnies!


The Uni-verse is expanding: Enter v4

Welcome back to the Tally Newsletter, your weekly source for DAO governance insights. I’m coolhorsegirl and I’m so happy to be here. 🟣

This week, we’re talking Uniswap v4! Uniswap is already a $1.5 trillion behemoth, and they’re just getting started. Hayden Adams recently spilled the beans on this mega upgrade, and we’re here to unpack it all.

For proposals, we have a number from Nouns DAO from a YouTube kids’ channel to the Verbs team extension. And don’t forget to vote on those Arbitrum proposals that went up just before last week—you’ve got less than a week left. Well, let’s get into it 👇

🤿 Deep Dive: The Uni-verse is expanding: Enter v4

Last week, Uniswap Founder Hayden Adams dropped “Our Vision for v4.” Staying true to the “building in public” ethos we love so much in crypto, the draft code is out too. New features include limit orders, auto-compounding, dynamic fees, and TWAMM—lots of stuff to be excited about. Let’s break it down.

Uniswap v4 is all about giving you the power to tweak and tailor your pools like never before. The not-so-secret ingredient? “Hooks.” These are customizable contracts that work their magic at different stages of a pool action’s lifecycle. Devs, get ready to flex your creativity and build your ~own~ AMM pools with these bad boys. With v4, you could have pools supporting dynamic fees, onchain limit orders, or acting as a TWAMM to spread out those chunky orders​.

So what’s on the horizon for v4? It’s a smorgasbord. We’re talking time-weighted average market makers, dynamic fees based on volatility, onchain limit orders, and even auto-compounding LP fees back into the LP positions. The sky’s the limit and Uniswap v4 is giving you the rocket to reach it​.

And let’s not forget efficiency. v4 uses singleton contract architecture, packing all pools into one contract. This means serious gas savings and lightning-fast efficiency. Plus, with the new “flash accounting” system, it’s all about net balances. Oh, and did I mention the return of native ETH support? More gas savings, baby!​

Last but not least, Uniswap v4 keeps it onchain (we love to see it) with community-driven governance, so you can still have your say. What’s up with the protocol fee, you might ask? It’s still up to you to vote on that, just like in v3​.

And let’s not forget, Uniswap is big news. As the largest DEX with $1.5 trillion in trading volume, they’ve made it. What they deliver next is just the cherry on top. Get keen!

⌛️ On-chain Proposals

On-chain DAOs are decentralized autonomous organizations that operate entirely on the blockchain, using smart contracts and other blockchain-based technologies for its operations and decision-making processes. Tally believes that true DAOs operate on-chain.

🟡 NounsDAO

Nounish Animations for Kids on YouTube Channel

Summary: 60k to create a library of 15 Nounish animated videos for kids. Overall goal is to build an audience of children and parents who are interested in Nouns. After 15 videos, the channel aims for self-sustainability.

Voting ends: June 24th

Verbs Team Six Month Extension

Summary: 450k USDC plus 18 ETH (same budget as the previous term) to grind the proliferation of Nouns, including Nouns Governor, collabs, and rank-choice proposals. Big success in the previous term was designing, testing, and auditing Nouns Fork.

Voting ends: June 25th

NFT Yearbook Prop

Summary: 88.6815 ETH to enable the production and delivery of a limited edition NFT Yearbook featuring a unique NOUNS DAO cover, both in digital and physical formats and placing an additional 100 NOUNS NFT Yearbooks in strategic locations around the world.

Voting ends: June 25th

💙 Arbitrum

[UPDATED] AIP-1.1 – Lockup, Budget, Transparency

Summary: A 3-prong deal regarding the 7.5% of the $ARB tokens distributed to the Foundation’s “Administrative Budget Wallet”. The Administrative Budget Wallet will be used in pursuit of the Foundation’s mission statement.

Voting ends: June 25th

AIP-1.2 – Foundation and DAO Governance

Summary: ArbitrumDAO is ready for a spring clean, proposing amendments to sweep references to AIP-1 out of the Constitution, Bylaws, and A&R M&A while sprucing up with community-suggested changes. From lowering the threshold for an AIP to be posted on-chain to clarifying the realm of the Administrative Budget Wallet, it’s all about making the governance house tidier and more user-friendly.

Voting ends: June 24th

📝 10 Things To Read or Listen To

📄 “The Three Transitions” by Vitalik Buterin

📄 “Toward Equitable Ownership and Governance in the Digital Public Sphere” by Sarah Hubbard, Connor Spelliscy, Nathan Schneider, and Samuel Vance-Law

📄 “Off the Clock: Governing in Nonlinear Time” by Nathan Schneider

📄 There are so many blockchains. And that’s totally OK, says Catalyst’s Chang” by Darren Kleine

🧵 “some unpopular opinions on the blockchain space” from Nadir Dabit

🎧 “Where on-chain governance meets claimables” from Earnifi

🎧 “Why DAOs (and crypto) need a Policy Platform more than ever, with Nathan Schneider” on The Ownership Economy

🎧 “Freedom through interoperability w/ Jimmy Chang” on On the Other Side

🎧 “AI DAO Simulator w. James Pollack” on GreenPill

🎥 Documentary on the 200M Eueler Hack from Junion

💫 DAO Talk: the regulation DAOnload || DT weekly ep. 43

🤭 Meme of the Week

Stop missing your governance votes! Tally is live on! You can now see if and when you are eligible for active DAO proposals while on Earnifi.

And catch Tally on ENS Interviews on Twitter Spaces this Wednesday, the 21st (set your reminder here)!

Subscribe now

~ coolhorsegirl 🐴

p.s.- ETHCC is less than a month away! Until then, chilling on the beach in Thailand.

The Regulation DAOnload

Welcome back to the Tally Newsletter, your weekly source for DAO governance insights. I’m coolhorsegirl and I’m so stoked to be here. 🟣

The CFTC won its lawsuit against Ooki DAO just a few days ago, with the ruling stating it ran an illegal trading platform. Besides that, DAOs exist within a space where regulation is ALL the talk these days. In this issue, we’ll unpack how the latest in the crypto regulatory climate touches the DAOsphere. Legal wrapper wen?

Arbitrum voting in the form of AIP 1.2 is LIVE! We’ll also cover a few proposals touching on the summer conference series from Gitcoin and Nouns. Let’s get into it 👇

🤿 Deep Dive: The Regulation DAOnload

Coinbase. Binance. Could DAOs be the next victim of legal wrath? While the autonomy and borderless nature of DAOs may feel like the crypto-version of utopia, it also opens up a Pandora’s Box of potential liabilities, especially in the U.S., where the regulation fire is fueled on the daily. The crux of the issue lies in the personal liability that DAO members may unknowingly shoulder due to their participation.

Case in point is the recent Commodity Futures Trading Commission (CFTC) enforcement action against bZerox (bZx) DAO, which resulted in a $250,000 civil penalty. The DAO’s co-founders, who were also voting token holders of its successor Ooki DAO, were held personally liable. This landmark decision potentially exposes ANY member who participates in DAO governance to legal risks.

But of course, the CFTC’s decision to hold token holders personally liable was not without controversy. CFTC Commissioner Summer K. Mersinger issued a dissenting statement, critiquing the decision as “arbitrary” and potentially discouraging active participation in DAO governance. At its best, this decision means stifling participation. At its worst, it is not dissimilar from voter suppression.

That said, some states have taken steps to shield DAO members from such personal liabilities. Wyoming, Vermont, and Tennessee have all enacted legislation aimed at providing some legal cover to DAOs and their members. Wyoming even introduced a bill that would establish DAOs as a form of LLCs, offering a potential additional DAO legal wrapper. However, it’s worth noting that critics argue these legislations may impose additional burdens on DAOs without offering substantial benefits.

Amidst this, we have the classic “omg did you hear about…!?” case of bZx DAO, which found itself at the center of a class action lawsuit following a phishing attack that resulted in a theft of $55 million. The lawsuit filed, but the decision remains to be made. The outcome of this case is set to establish the standards for founder and manager liability for DAOs, setting a legal precedent that could influence the future of DAO regulation.

As we voyage onward in this thrilling, unpredictable, and enigmatic epoch of DAOs, these concerns, along with others, persistently mold the landscape. It’s a testament to the intrinsic dynamism of this space: constant evolution. As the drumbeat of regulation amplifies, the stakes tied to DAO governance may well rise in concert. Until then, check out the DAO Research Collective’s survey DAO legal wrappers.

⌛️ On-chain Proposals

On-chain DAOs are decentralized autonomous organizations that operate entirely on the blockchain, using smart contracts and other blockchain-based technologies for its operations and decision-making processes. Tally believes that true DAOs operate on-chain.

💚 Gitcoin

Supporting Funding the Commons Conference

Summary: Keen to dust off your conference badges? Gitcoin is eyeing an investment of $160k to catapult the “Funding the Commons” series into the limelight, fostering collaboration, strengthening its own stature, and leading the charge in the EVM-based public goods funding ecosystem​.

Voting ends: June 17th

💙 Arbitrum

[UPDATED] AIP-1.1 – Lockup, Budget, Transparency

Summary: A 3-prong deal regarding the 7.5% of the $ARB tokens distributed to the Foundation’s “Administrative Budget Wallet”. The Administrative Budget Wallet will be used in pursuit of the Foundation’s mission statement.

Voting ends: June 25th

AIP-1.2 – Foundation and DAO Governance

Summary: ArbitrumDAO is ready for a spring clean, proposing amendments to sweep references to AIP-1 out of the Constitution, Bylaws, and A&R M&A while sprucing up with community-suggested changes. From lowering the threshold for an AIP to be posted on-chain to clarifying the realm of the Administrative Budget Wallet, it’s all about making the governance house tidier and more user-friendly.

Voting ends: June 24th

🟡 NounsDAO

SNP – SD Comic Con: Connecting a Cornucopia of Creators

Summary: For $57k, the Nouns Town crew has an ambitious plan to crash San Diego Comic Con 2023 with 2,500 Nouns Activity Books, aiming to charm artists and collectors with some Nounish creativity and commission over 100 Noun-styled artworks from industry professionals.

Voting ends: June 17th

Nouniversary Prop House Party

Summary: The proposal calls for 10 x 5 ETH grants (50 ETH total) for Nouniversary celebrations, showcasing nouns culture, people, and creations. The plan includes requirements for maximizing attendance, merch provision, support for nounish businesses, and documentation of the events.

Voting ends: June 19th

Nouns to fund a MEV relay that saved Ethereum from OFAC censorship dystopia (for now)

Summary: This proposal suggests making a substantial 100 ETH donation to the ultra sound relay, which is the largest MEV-boost relay by market share and plays a pivotal role in maintaining Ethereum’s censorship-resistant properties. The relay operates as a public good funded by donations and the proposed funding is meant to recognize the team’s accomplishments and support their ongoing operations​.

Voting ends: June 17th

📝 10 Things To Read or Listen To

📄 “Web 3.0: Decentralized Governments” by Dmitry Mishunin

📄 “The Future of DAOs: Trends, Challenges, and Opportunities” by Cypherock

📄 “Rollups, Rigor, and Reality” by Kelvin Fichter

🧵 “eth defi currently undergoing a renaissance of maximally decentralized stablecoin models” from MonetSupply

🧵 “DAOs are stuck between a rock and a hard place” from Hasu

🎧 “What’s broken in the DAO Governance? w/ Daniel Ospina“ on DAO Today

🎧 Uniswap Fee Switch, Lido FUD & Endgame Craziness, on Bell Curve

🎧 “Monetizing web3 social w/ Nir Kabessa“ on On the Other Side

🎧 “Navigating the Creator Economy, Platform Wars, and Internet Culture | Kai Gayoso, Range Media” on Boys Club

🎧 “Finding a Business Model for HyperStructures with Connor McCormick” on GreenPill

💫 DAO Talk: that 1st proposal feeling || DT weekly #42

🤭 Meme of the Week

In honor of the release of last week’s Issue 100 of the Tally Newsletter, check out our thread recapping the most opened issues: Tally Newsletter by the numbers.

Subscribe now

~ coolhorsegirl 🐴

p.s.- First week in Thailand! Feeling a greater solidarity with elephants now more than ever.

Paying Delegates: Web3’s Compensation Conundrum


Welcome back to the Tally Newsletter, your weekly source for DAO governance insights. I’m coolhorsegirl and I’m so happy to be here. 🟣

This week, we’re discussing a hot-button issue that’s been simmering on the backburner of decentralized governance: Should we open up our wallets to compensate our delegates? Well, Karma just dropped their Tip A Delegate feature. And this could be a game-changer. We could see an evolution in the delegate ecosystem, where the high-achievers reap greater rewards, spurring a race not just to be a delegate, but to be the best in the game.

We’ll also cover live proposals, this week on Nouns, Public Nouns, and Rari Foundation. I bet you didn’t know that there was a way to tie DAOs to World Heritage site stewardship! Anyway, let’s dive in 👇

🤿 Deep Dive: Paying Delegates: Web3’s Compensation Conundrum

We’ve talked a lot about delegates recently (here, one more shameless Delegation Week plug). They’re potentially decentralized governance’s hottest topic, but it’s time to tackle the elephant in the room: should we be paying them?

This could go either way. Given their high-stakes role, a little compensation seems fair, right? Monetary motivation could turn the DAO-curious into dedicated delegates, driving them to put their blood, sweat, and time (and lots of it, reading and writing proposals) into growing a DAO. It’s like telling them, “Here’s your piece of the pie, now make sure it doesn’t crumble.” If we paid delegates, they would HAVE to care.

On the flip side, there are those who argue that involving money can corrupt the pure intentions of most delegates. Rewarding them might attract the wrong crowd, those more interested in flipping a quick buck than in nurturing the health and success of a DAO.

But maybe a love for a DAO isn’t enough to guarantee a good delegate. So, if we do decide to slide some tokens to our trusty delegates, how’s it done? Each platform has its own recipe, but usually, it involves a serving of native tokens. Think of it as not just a payday, but a VIP pass to the network’s future, granting them more voting power. Some others might toss in a share of transaction fees or block rewards – a neat trick to keep their eyes on the network security prize.

On the table now: cash compensation (examples are Aave in AAVE, MakerDAO up until now in DAI, Illivium in USDT, and Nouncil in ETH. There was no way for individuals (service receiver) to directly support the delegate representing them (service provider). Crazy, right?

Enter Karma’s new Tip A Delegate feature! In a recent development that builds upon cross-DAO initiatives aimed at recognizing and rewarding delegates, Karma’s new pilot feature enables users to offer tips to delegates (no middleman required, just like crypto). Users now have the ability to locate delegates using an ENS or ETH address, and subsequently tip them in stablecoins across multiple networks.

In theory, this has the potential to elevate the delegate ecosystem substantially. High-performing delegates would see an increase in their earnings, creating a more competitive environment. This introduces a unique dynamic where delegates are driven not merely by the desire to hold the title, as might be the case in DAOs offering a standard delegate salary, but by the pursuit of excellence. The aspiration isn’t just to be a delegate, but to be the most effective and impactful one.

This delegate compensation gig is a balancing act. It’s about luring the right folks, keeping our networks safe, and staying true to the ethos of decentralization. Before this discourse pans out, I’ll offer you an article on just that: “Incentivizing Web3 delegates, the driving force behind decentralized governance.”

⌛️ On-chain Proposals

On-chain DAOs are decentralized autonomous organizations that operate entirely on the blockchain, using smart contracts and other blockchain-based technologies for its operations and decision-making processes. Tally believes that true DAOs operate on-chain.

💚 Nouns DAO

Nouns Mirai JAPAN

Summary: This event will boost Nouns’ visibility through a blend of Metaverse and real-life experiences, envisioning a future where Nouns pervade Japan. There’ll be a Japanese booth at Web X, a global Web3 conference, and in the Metaverse, expect a vibrant depiction of Japanese summer festivals complete with live music (ooooh).

Voting ends: June 9th

Artmatr x Nouns – 1,001 Nouns

Summary: Hello, physibles. Matr Labs proposes to manufacture 1,001 Nouns on-demand, from #0 to #1,000, utilizing custom robotics, software, and an exclusive redemption token. Noun holders will have the opportunity to customize and claim their corresponding physical copies.

Voting ends: June 10th

🚊 Rari Foundation

RRC-7: Rewards-2 (resubmitted)

Summary: 400k RARI for a revamped $RARI rewards program, aiming to stimulate a network effect among community marketplaces and their users on the Rarible Protocol. Seeking long-term partnerships with leading market brands to broaden the reach and impact of the rewards program and community marketplaces. (Initial submission had contract issues and was canceled.)

Voting ends: June 8th

🚊 Public Nouns

Support DAO Palace 2023, Incubating the future of DAOs and stewarding Cultural Heritage Sites

Summary: DAO Palace 2023 is set to be a collaborative incubator for top contributors to DAO public goods projects, building on past successes like pNouns and Family DAO. Participation is both inclusive and exclusive, with pNouns being invited as a Villa sponsor this year (for 2.7 ETH).

Voting ends: June 7th

📝 10 Things To Read or Listen To

📄 “Grants 101: Standing up a Grants Program in Web3” by Annika Lewis

📄 “Rollups Are L1s (& L2s) a.k.a. How Rollups *Actually Actually Actually* Work” by Jon Charbonneau

📄 “Chain of thought: Exploring blockchain through the lens of philosophy” by Sasha Shilina

📄 “Adventures in Ownership” by Caleb Shough

🧵 “The importance of gauges to decentralized governance” by Ken Deeter

🧵 “On Governments & Public Blockchains” by punk6529

🎧 “Sovereign vs. classic rollups” from Celestia (Spaces)

🎧 “Delegation Week Roundup” from Rari Foundation (Spaces)

🎧 “Content liquidity + protocol lock-in w/ Rafa” on On the Other Side

🎧 “The Tinder of On-chain Voting with Griff Green” on GreenPill

💫 DAO Talk: delegation week: revisited || DT weekly ep. 41

🤭 Meme of the Week

At Tally, we’re still cooling down from the hype/knowledge/mind-blowing that as Delegation Week. Catch up on the 10 Spaces on all things delegation here!

Subscribe now

~ coolhorsegirl 🐴

p.s.- Hoi An, Vietnam at day / at night

Plot Twist: Tornado Cash Hijacker’s Redemption Arc

Welcome back to the Tally Newsletter, your weekly source for DAO governance insights. I’m coolhorsegirl and I’m so excited to be here. 🟣

This week, prepare for a storyline that could rival any blockbuster movie: a notorious digital pirate, a hijacked governance, a tense standoff, and an unexpected twist that’ll leave you gobsmacked. Decentralized governance never fails to entertain.

We’re also talking proposals from some big dogs in governance—Gitcoin, Hop, and Nouns, all the way from a few run-of-the-mill budget requests to a significant visual design update. Let’s get into it 👇

🤿 Deep Dive: Plot Twist: Tornado Cash Hijacker’s Redemption Arc

It seems our digital pirate who hijacked Tornado Cash governance has had a surprising—to say the least—change of heart. After passing a sneaky proposal, he’s offered up a reversal of sorts. Brace yourself for the latest scoop in yet another episode of decentralized governance drama.

So, just to jog your memory, on May 21st, this rascal seized control over Tornado Cash’s governance with a wily proposal, leaving them in a position to do some serious damage. The hacker took control of 1.2M votes, outgunning the 700k legit votes. Just like that, Tornado Cash governance was put on mute (ouch!). But as the storm was raging, our man on the inside, Mr. Tornadosaurus Hex (Hex, for short), sprang into action, pushing for a proposal requesting folks to withdraw all funds locked in governance.

Things were looking pretty grim, with Hex uncertain whether his heroic efforts could stand up to the attacker’s stranglehold on the governance. But lo and behold, our exploiter had a change of heart (cue the “awwwws”) and reached out with a new proposal, suggesting they might actually hand back the reins of control.

Hex relayed this news, cautioning the community to play along since, let’s face it, they didn’t have much of a choice. There were mixed feelings about this sudden change – hope, suspicion, and speculation that it’s a scheme to boost the TORN token’s price before bowing out. Regardless, the silver lining in this whole kerfuffle is that the overall hacks in the crypto world have seen a decline in Q1 2023.

Anyway, the DAO voted overwhelmingly (literally 0 against) to pass the attacker’s proposal. After a heavy analysis of the safety of the proposal (fool me once, shame on you, fool me twice, shame on me), it was executed on May 28th. Governance was successfully returned to the protocol. Phew!

Tornado Cash got LUCKY. Let this be a wake-up call to all of us governerds: vet those proposal descriptions and logic like your life (or at least your funds) depend on it! In the unpredictable world of decentralized governance, never get complacent. After all, 2022 was a rollercoaster of hacks following a quiet spell. Stay safe, stay vigilant, and as always, keep your eyes on those governance proposals!

⌛️ On-chain Proposals

On-chain DAOs are decentralized autonomous organizations that operate entirely on the blockchain, using smart contracts and other blockchain-based technologies for its operations and decision-making processes. Tally believes that true DAOs operate on-chain.

💚 Gitcoin

S18 Gitcoin Allo Budget

Summary: This season, Gitcoin Allo is focused on finding product-market fit for web3 grants programs, by facilitating their funding via Grants Stack and enabling new software development on the Allo protocol. Asking for 1.2M GTC.

Voting ends: June 2nd

[GCP-008] S18 Discord Management

Summary: As the DAOops workstream, previously responsible for funding Discord management, concludes operations at the end of Season 17, future funding will be sought through the GCP process. Requesting $23,400 for the upcoming 13-week season, with no severance should the service be discontinued.

Voting ends: June 1st

[S18] Gitcoin Passport Budget (repost)

Summary: The Passport workstream this season aims to amplify its impact by increasing Passport’s adoption via on-chain mechanisms, UX enhancements, and DevRel initiatives, and by conducting strategic revenue experiments to ensure sustainable value capture. Requesting ~390k GTC.

Voting ends: June 1st

🐰 Hop DAO

[HIP-25] Lito Departure

Summary: Authereum Labs and Lito have agreed to part ways, leading to some necessary adjustments in their HOP token distribution. To ensure fairness, the Hop DAO is orchestrating the return of unvested tokens from Lito, while still respecting the terms of any tokens already vested. Passed on Snapshot.

Voting ends: June 2nd

🟡 NounsDAO

Introducing Noun Computers – An Ethereum Node Prototype

Summary: $250k to fund the development of credit card-sized computers that would be ideal for Ethereum staking. This would be part of Nouns’s increased focus on public goods. The prototype is cute, designed from scratch, and would allow for easy individual staking, another Nouns focus.

Voting ends: June 4th

Nouns Display Font

Summary: Did you know Nouns doesn’t have a display font? This proposal asks for 18 ETH to create one, starting from literal scratch. Goal is to be fun, recognizable, and of course, Nounish. Check out the proposal—the artist has some drafts ready to view.

Voting ends: June 5th

📝 10 Things To Read or Listen To

📄 “Don’t overload Ethereum’s consensus” by Vitalik Buterin

📄 “Building Sybil Resistance using Cost of Forgery” by Kyle Weiss

📄 “Governance of Superintelligence” by Sam Altman, Greg Brockman, and Ilya Sutskever of OpenAI

📄 ”Announcing the DAO Anthology” by Samantha Marin

🧵 “The importance of translation in the world of Web3 and DAOs” by Bankless Translators

🧵 “Aave Robot’s plans for DAOs” by Dan Wu

🎧 “Building a Borderless Web3 Culture w/ Feems” on Rehash

🎧 “Token bound accounts + ERC-6551 w/ Benny Giang” on On the Other Side

🎧 “Summoning Ether’s Phoenix with Karl Floersch” on the GreenPill

🎧 “Rune Christensen – The MakerDAO Endgame Plan” on I Pledge Allegiance

💫 DAO Talk: patrick @ the arbitrum foundation || DT interview #39

🤭 Meme of the Week

What a week! Delegation Week is over – 10 Spaces in 5 days! We dived deep into DAOs like Arbitrum, Hop DAO, Pool Together, ENS, and Gitcoin, talked about the responsibilities of the token holder, and caught up with university delegate groups. Catch up with all of our Spaces here.

The DAO Research Collective is collecting research for their State of DAO Delegation Report. Fill out the survey here for a USDC reward (it takes about 3 minutes).

Subscribe now

~ coolhorsegirl 🐴

p.s.- Monkey Mountain, ‘nuff said.

DAO Spotlights: Arbitrum DAO & Hop DAO

Welcome back to the Tally Newsletter, your weekly source for DAO governance insights. I’m coolhorsegirl and I’m so stoked to be here. 🟣

In the spirit of Delegation Week, we’re turning the spotlight on two pioneering DAOs: Arbitrum and Hop. We’ll delve into the latest governance developments in each DAO, showcasing some of the most noteworthy proposals. We’ll also highlight key delegates whose efforts and influence are shaping the future of these organizations.

Arbitrum DAO is offering free delegation on Tally during Delegation Week. Wallets that held at least 40 ARB tokens prior to May 1st, 2023 will be eligible for a free delegation transaction. Hop DAO is also working on a delegation incentive program for Delegation Week, so keep your eyes out for that!

We’ve also got a few proposals live, with Gitcoin’s S18 funding for MMM (Merch, Memes, Marketing – I love that) up for voting, a few Optimism proposals (including a symbolic budget), and a revised proposal to bring Nouns to NFT.Brasil. Let’s get into it 👇

🔦 DAO Spotlights: Arbitrum DAO & Hop DAO

This week, we’re diving deep into two DAOs (and their delegates) you must watch.

💙 Arbitrum DAO 🧡

Launched just a couple of months back in March, Arbitrum DAO uses $ARB tokens to allow holders to propose and vote on changes to the organization and the technologies it governs. Built on the Arbitrum One rollup chain, a Layer 2 Ethereum solution, the DAO includes a treasury for development funding and a Security Council for quick response to security issues. In effect, Arbitrum DAO allows token holders to actively shape the future of the Arbitrum and Ethereum ecosystem.

The Latest in Governance

As the first EVM rollup tech to reach Stage 1 decentralization, the ARB token launch was one of the most anticipated events in crypto this year. Over $120M in ARB was airdropped to fellow DAOs in its ecosystem: biggest receivers were Treasure DAO and GMX receiving $8M each followed by Uniswap, Sushiswap, Balancer, Curve, and Dopex, all receiving between 3-5 million ARB tokens. Since launch, AIPs have mostly focused on foundation-building for the DAO: amending the constitution, setting operating budget, and taking the first steps to launch a grants program.

Right now, the forum is hot with a proposal to include liquidity positions in voting. Arbitrum’s delegate program is also hot. To become a delegate, you can create a profile on Tally and build out your delegate platform. Don’t have time or interest in voting? Delegate to one of the DAO’s many delegates also on Tally.

Delegates to Watch

  • Ceazor’s Snack Sandwich (ceazor.eth): The most recent contributor to write a proposal (that LP one above), Ceazor is committed to expanding education as the path to adoption.

    • Core issues:

      • DeFi development on Arbitrum

      • Improving governance participation

      • IRL Arbitrum community gathering organization

  • DisruptionJoe (disruptionjoe.eth): Frequent in the forum, former Gitcoin Fraud Detection workstream lead DisruptionJoe is focused on creating legitimacy, credible neutrality, and sustainability in DAOs.

    • Core issues:

      • Public goods funding

      • Improving governance participation

      • Tooling, improving protocol decentralization

  • Blockworks Research (blockworksres.eth): The author of AIP 1.1 and 1.2, they’ve made significant contributions from Aribtrum DAO from the get-go. They believe the DAO’s main prerogative should be attracting builders into the ecosystem and minimizing the trust assumptions associated with the rollup.

    • Core issues:

      • DeFi development on Arbitrum

      • Improving governance participation

  • George Beall (hiringdevs.eth): As former Head of Business and Operations for Commonwealth and an active contributor to the dYdX ecosystem, hiringdevs.eth brings vast experience from across DeFi and is intent on facilitating the development of a complete and robust dapp ecosystem on Arbitrum.

    • Core issues:

      • DeFi development on Arbitrum

      • Tooling, improving protocol decentralization

🐰 Hop DAO 🐰

Hop Protocol serves as a core piece of Ethereum infrastructure and operates as a public good under the governance of Hop DAO (using $HOP) launched in May 2022. The DAO oversees Hop’s continued growth and trajectory, managing functions like supported L2s and non-Ethereum chains, treasury fund management, and grants promoting ecosystem growth. In essence, Hop DAO exercises full control over the protocol’s operation, and those interested in influencing its direction are encouraged to get involved as outlined in subsequent articles.

The Latest in Governance

Lately, we’ve seen a variety of funding proposals and Ambassador nominations. Funds needed to be moved from multi-sig to multi-sig depending on their purpose, with community multi-sig OP going to ambassador multi-sig for use executed by the ambassador (contingent on community vote). Hop DAO elects ambassadors to interface with other communities, namely Rocket Pool, Optimism, and Arbitrum thus far (Hop also received an airdrop from Arbitrum!).

After passing a roadmap 4 months back, the DAO has been focused on executing the specifics of it, like launching Hop on Polygon zkEVM Mainnet and offering bridging support for rETH to/from Optimism, Arbitrum, and Ethereum. More recent debate is around liquidity incentives. You can apply as a delegate here and see who delegates are receiving delegations from here.

Delegates to Watch

  • thegreg.eth: A long-time HOP user and early liquidity provider, thegreg.eth is one of the forum’s most prolific participants. As a LP for which Hop provides a percentage of the award, delegators are guaranteed that he will vote for actions that derive fair value to the HOP token. He also takes minutes for the community calls.

  • 💩💩💩💩.eth: Frequent flyer on the forums and author of the last 5 proposals to go to temperature check, fourpoops, as they’re known, is committed to maintaining security with a focus on long-term growth and value creation (as opposed to flash marketing and short-termism). They’re a participant in 7 other DAOs and have a 100% voting participation rate on Hop!

  • maxandrew.eth: Another one of the forum’s most active contributors, Max is the Optimism Ambassador for Hop DAO and has a 100% participation rate. He’s a long-time user with significant contributions to Hop’s discussion on increasing token liquidity.

  • dybsy.sismo.eth: With a 100% voting participation rate, Dybsy is a testament to “Can’t stop the bunny.” A longtime Hop user, he brings experience from across disciplines–blockhain (since 2013), scifi writing, and a commitment to logic above all.

Don’t miss our Twitter Spaces with Aribitrum DAO on May 23 @ 12pm EST and with Hop DAO on May 25th @ 12pm EST.

⌛️ On-chain Proposals

On-chain DAOs are decentralized autonomous organizations that operate entirely on the blockchain, using smart contracts and other blockchain-based technologies for its operations and decision-making processes. Tally believes that true DAOs operate on-chain.

💚 Gitcoin

S18/S19 MMM Workstream Budget Request

Summary: ~$624k to fund the MMM in reaching their S18 and S19 overarching north-star goal: Repositioning Gitcoin as a tech-first organization.

Voting ends: May 24th

S18-S19 Gitcoin Public Goods Funding Workstream Budget

Summary: Successfully passed on Snapshot. ~$599k to fund the PGF through S18. Budget will go towards operating the Gitcoin Grants Program rounds with Core and Featured Rounds, as well as driving 13 Quadratic Funding rounds and supporting. the Passport workstream.

Voting ends: May 27th

🔴 Optimism

Inflation Adjustment Proposal

Summary: Inflation of the OP token is set to 2% per year by default, but can be adjusted by governance. This proposal would reduce inflation in Year 2 to 0%.

Voting ends: May 19th

Treasury Appropriation (Foundation Year 2 Budget Approval)

Summary: Since the Foundation has only spent 5.21% of its Year 1 OP operating budget so far, it does not need to request. budget for Year 2 but is symbolically requesting an additional 1 OP for Year 2.

Voting ends: May 19th

🟡 NounsDAO

🇧🇷 NFT.Brasil – Taking Over São Paulo and Celebrating the Brazilian Community 2

Summary: An adjusted version of last week’s failed proposal. Key changes include downsizing goals based on time feasibility, decreasing budget by turning the lounge into a booth, and lowering metaverse activation.

Voting ends: May 27th

📝 10 Things To Read or Listen To

📄 “DAOs are Dead! Long live DAOs!” by Florian Glatz

📄 “Trust at Scale: Verification Frameworks” by Stefan Deleveaux

📄 “DAOversity Report” by Francisco Díaz

📄 “Onchain” by Jacob Horne

🧵 “Thoughts on the Gitcoin beta round” by Kevin Owocki

🎧 “Do Aragon Association Members Get ‘Fat Salaries’ With ‘Zero Accountability’?” on The Chopping Block

🎧 “Diogo Monica and Nathan McCauley – The Story Behind Anchorage Digital and Crypto’s Leading Custodian” on I Pledge Allegiance

🎧 “The Regenaissance with Gnoman” on GreenPill

🎧 “How Web3 Empowers Independent Artists w/ Ibn Ingor” on Rehash

🎧 “Building a Network City w/ Jon Hillis” on On the Other Side

💫 DAO Talk: the DAOs new groove || DT weekly #40

🤭 Meme of the Week

Don’t be like Squidward. Join Delegation Week!

DELEGATION WEEK IS THIS WEEK. LITERALLY. IT’S ALREADY STARTED. Hear from the big dogs like Arbitrum, Hop Protocol, ENS, Uniswap, Pool Together, and Gitcoin. Find out why you should delegate to delegate to student orgs. Get the state of delegation. And more. Full schedule here and all Spaces are happening on the Tally Twitter.

Subscribe now

~ coolhorsegirl 🐴

p.s.- Speaking of Delegation Week, I’m moderating! Bit of CHG lore for you: my grandfather was a famous tv-radio host of “Polka Parade” in the 50s/60s. An artifact of its time, but I’ll be channeling his “radio voice” this week and we’ll see if it runs in the family. Spaces have gotta be the modern version of tv-radio, right?

Attack on Aragon: Decentralization or Deception?

Welcome back to the Tally Newsletter, your weekly source for DAO governance insights. I’m coolhorsegirl and I’m so stoked to be here. 🟣

The governance tea is hot this week. An attempted token gov takeover has not only shaken Aragon’s foundations, but it’s also prompted some serious soul-searching about the essence of a DAO, the relationship between a DAO and its legal wrapper, and how to handle such attacks. Apology threads by protocols are a rarity, and in this case, one was more than warranted. Yet, Aragon’s apology may be a band-aid for a self-inflicted wound, as they try to backtrack from the missteps that landed them in hot water. Trust me, this is a drama you can’t afford to skip.

As for proposals, Gitcoin is heading into Season 18, Uniswap is continuing chain expansion of V3, and Nouns and its offshoots have many a proposal on the table, including some pretty cute action figures. Let’s get into it 👇

🤿 Deep Dive: Attack on Aragon

Draaaaaaama. TL;DR: DAO governance platform Aragon’s new DAO encountered a governance attack and their response may have caused more issues than it solved. Aragon (temporarily) turned its back on the ethos of a DAO – decentralization. They’ve since tried to rectify the situation, but it’s clear they stumbled. Has the damage been done? Let’s unpack this mess.

Rewind to June 2022: ANT (Aragon’s governance token) holders voted for the Aragon Association (AA) to shift their hefty treasury (~$200m) into a delegate-voting DAO. The DAO was launched this February, with the AA planning to start the treasury transfer with an initial 300k USDC last week. That’s where the trouble began.

Just as the process kicked off, the AA noticed some sketchy Discord activity from a group called Risk-Free Value (RFV) Raiders, the same group that pulled a fast one on Rook DAO. A sudden change in wANT supply in the DAO signaled that RFV was attempting to buy up enough governance tokens to repurpose the DAO treasury. Aragon, with more treasury transfers in the pipeline, found itself in a tight spot.

Here’s where it goes from bad to worse. In a blog post, the AA announced, “Aragon DAO has been repurposed. It’s now Aragon Grants DAO.” Repurposed? Really? By shifting the mission of the DAO, the AA found a way to send subsequent funds only for a grants program, while still maintaining a veneer of treasury decentralization. The scheme was simple: RFV wasn’t doing a Grant-deserving activity (like building on the Aragon dApp), so they’d be disqualified from getting funds even if they pulled off their buy-up. Sneaky move, Aragon. So, the Aragon DAO was hastily repackaged as the Aragon Grants DAO.

The quick fix ushered in a storm. The RFV issue was sorted, but anger among the community began boiling (and still is, tbh). Was the Aragon DAO ever really a DAO if the AA could just “repurpose” it with a casual blog post? The Twitterati stormed Aragon with well-deserved accusations of their new DAO being a sham – decentralized in name only (or “DINO,” if you will).

Aragon has since backtracked, saying that repurposing the DAO was a misstep, and that everything in the DAO is governed by ANT holders, not the AA. They assured that in case of another attack, the AA could halt future transfers but wouldn’t meddle with transfers to the DAO that have already been made (as they did this time around)

In an attempt to mend fences, Aragon apologized, stating, “Our communication made it seem like the Aragon DAO is stoppable, that’s not true.” They’ve promised to continue the transfers as planned and are encouraging debate on their forum. Yet, the sense of trust is undoubtedly shaken. The tea, my friends, remains piping hot.

⌛️ On-chain Proposals

On-chain DAOs are decentralized autonomous organizations that operate entirely on the blockchain, using smart contracts and other blockchain-based technologies for its operations and decision-making processes. Tally believes that true DAOs operate on-chain.

💚 Gitcoin

S18 Gitcoin Allo Budget

Summary: Allo is focused on establishing product-market fit for web3 grants programs. This season, they’re focused on 2 things: enabling these programs to run their funding through Grants Stack and improving the composability of Allo Protocol. Asking for $1.6M worth of GTC.

Voting ends: May 20th

S18 Gitcoin Passport Workstream Budget

Summary: Passport workstream is all about increasing adoption this season (by at least 5x), and with that, revenue (at least $1). This will involve market research, testing, and a big marketing push. Asking for $1.3M worth of GTC.

Voting ends: May 20th

🦄 Uniswap

Deploy Uniswap V3 on Moonbeam (2023)

Summary: Following a temperature check with ~100% voting YES, going onchain to confirm GFX Labs’s technical deployment of Uniswap V3 contracts on the Moonbeam using Wormhole.

Voting ends: May 17th

🚊 Public Nouns

Web3 Work: A Study of DAO Labor from Other Internet

Summary: 20 ETH grant to run a 6-month-long initiative of research on DAO labor, including working sessions, governance proposals based on findings, and an open-access report.

Voting ends: May 17th

🟡 NounsDAO

🇧🇷 NFT.Brasil – Taking Over São Paulo and Celebrating the Brazilian Community

Summary: $90k to sponsor NFT.Brasil, lounge and exhibition included. And a whole lotta swag.

Voting ends: May 17th

Nouns Wet Wipes V2 – Vote for your favourite Design!!!

Summary: 31,450k + 2ETH to create the first Nouns-branded Fast Moving Consumer Good (FMCG). Bringing Noun Wet Wipes to the masses, one pocket at a team. Design mock-ups included.

Voting ends: May 18th

NOUNISH FRIENDS mini-figures

Summary: $125k to fund 3”-tall mini-figures meant to be a “fun, stylish, low-cost, and non-crypto-based entry point into the worlds of NOUNs.” From Prop 72 and Prop 141, the project has been funded and communicating updates in Discord.

Voting ends: May 19th

100 Nounish Things: a nounish droposal ⌐◨-◨

Summary: Deploy an open-edition mint of the music video “100 Nounish Things” that highlights some of the biggest people, places, and things funded by Nouns.

Voting ends: May 19th

retain nounish for 6 months ⌐◨-◨

Summary: A hefty one. This proposal will fund nounish’s—a video production agency—continued work for Nouns for 969K USDC. With that money, included content plan would be carried out. Nounish boasts 3M @nounish socials views already.

Voting ends: May 20th

Nouns Chinese Socials: 6 Month Pilot

Summary: ~63 ETH for a 6-month pilot (paid via monthly streaming) of SCG Group, a digital agency, to empower China’s digital communities to learn and contribute to the Nouns ecosystem. Multiple platforms, 5+ posts per week, and travel to China to support the local team.

Voting ends: May 20th

📝 10 Things To Read or Listen To

📄 “Delegate Activity Tracker” by Karma (unveiling)

📄 “Gitcoin: Who makes the decisions anyway?” by shawn16400

📄 “The Many Lives of a Nouns DAO Proposal” by Wilson

📄 “The Opportunities and Limits of Nounish DAOs” by Chris Carella

🧵 “The broader an organization’s scope is, the greater he coordination cost required“ from pet3rpan

🧵 “Modeling Token Networks” from pet3rpan

🎧 “Decentralized Knowledge Sharing w/ Sari Azout” on Rehash

🎧 “‘Micromedia’ is the future | Yana Sosnovskaya, Zora” on Boys Club

🎧 “Stephen Wolfram: ChatGPT and the Nature of Truth, Reality & Computation” on the Lex Fridman Podcast

🎧 “Protocol Guild: 1 Year In with Time Beiko and Cheeky Gorilla” on GreenPill

💫 DAO Talk: DAO to the future || DT weekly #39

🤭 Meme of the Week

“how the twitter timeline feels recently” – @Lauramaywendel

Some quickies from Tally: Delegation Week is NEXT WEEK. There’s still time to register as a DAO, delegate, or voter. And hey, this newsletter comes out on Tuesday mornings now instead of Mondays. See ya next week 🙂

Subscribe now

~ coolhorsegirl 🐴

p.s.- Made it to Vietnam! Finally, freed from Malaysia. Enjoying the pool and the heat. And I’m trying a new fruit every day!! My favourite so far has been the dragon mango.

Another day, another delegate

Welcome back to the Tally Newsletter, your weekly source for DAO governance insights. I’m coolhorsegirl and I’m so stoked to be here. 🟣

Yet another Tally-powered protocol is launching a full-fledged delegation program! We’re talking Uniswap Delegate Race! On Agora voting portal, Uniswap’s first (intended annual) race has gone live with backing by 8M UNI set aside to be delegated.

Proposals this week are aplenty. Optimism heads into Season 4, backed by 4 Collective Intents, each with its own budget and scope. Rari has a potential partnership on the table and finally, NounsDAO is looking at the usual Nouns-branded fill-in-the-blanks as well as a dynamic quorum change. Let’s hop in 👇

🤿 Deep Dive: Another day, another delegate

Delegation remains HOT. We covered Optimism’s launch of a delegation cohort largely made up of university groups. We also dove into the Butter x Aave professional delegate campaign. Now, Uniswap has launched its first-ever Delegate Race!

The Delegate Race was launched alongside the launch of Uniswap Agora, “a unified and dedicated delegate portal to improve the Uniswap governance experience” funded by the UF Grants Program. Agora, a governance platform, is a governance platform that recently created a similar portal for Optimism.

So, the Delegate Race! It is the intended solution to a source of “major friction”—the difficulty of bootstrapping initial delegation from UNI holders. The race will happen annually, during which the Uniswap community can expect delegators to refresh their delegation based on updated Agora profiles. Race winners will earn massive governance power—UNI whales have pledged 8M UNI to be delegated.

The Race consists of 2 periods: We’re currently in the Profile Creation Period (‘til Friday), to be followed by the Delegation Period. Interested in entering the race? New and existing delegates can make delegate profiles on Agora by May 12th, describing their goals and values for the Uniswap ecosystem.

The profile consists of a number of questions designed for delegators to get a full grasp of what a delegate stands for. Winners of the race are meant to receive delegation for the year ahead, meaning short-term as well as medium-term plans can be enacted. Delegates must plug their past experience, intended plans for Uniswap governance, and the stakeholders they will represent with their votes.

That last one is especially cool. In the delegate landscape, it’s not always clear who everyone aims to represent. Instead of allowing delegates to claim to represent “all holders” (this is impossible), forcing each to identify the stakeholders they represent is forward-thinking. UNI holders should be excited about the increased accountability.

Voting will last from May 13th-26th, and the next race will happen this time next year. (And remember, you can always view delegates and delegate your UNI through Tally too!)

⌛️ On-chain Proposals

On-chain DAOs are decentralized autonomous organizations that operate entirely on the blockchain, using smart contracts and other blockchain-based technologies for its operations and decision-making processes. Tally believes that true DAOs operate on-chain.

🔴 Optimism

Protocol Delegation Program Renewal

Summary: Pretty self-explanatory. Renews the program for 1 season that’s been going on for 2 seasons already now. After this renewal for Season 4, protocols will need to reaffirm their commitment to Optimism governance via their own treasuries.

Voting ends: May 11th

The below are part of Season 4’s Collective Intents, directional goals that allow the Collective to align and focus, or “near-term targets. There may be multiple paths toward the target, proposed at a later date via “Missions.” Voting for each ends May 12th.

Intent #1 Budget Proposal: Progress Towards Technical Decentralization (1M OP)

Intent #2 – Council Intent Budget Proposal: Innovate on Novel Applications (6M OP)

Intent #3 Budget Proposal: Spread Awareness of the Optimistic Vision (1M OP)

Intent #4 Budget Proposal: Governance Accessibility (3M OP)

💛 Rari Foundation

Oamo Partnership Proposal

Summary: $5k of $RARI to fund a Rarible DAO data pool on Oamo. Oamo is a decentralized data broker with an upcoming Beta launch. The funds will be used as incentives to RARI users who share data anonymously with the Rari Foundation.

Voting ends: May 9th

🟡 NounsDAO

Let’s Throw a Global Pizza Party! Nouns x PizzaDAO

Summary: $42K to Nounify (sponsor) PizzaDAO’s 3rd global pizza party for Bitcoin Pizza Day on May 22. All funds will go to pizza purchases around the world (over 75 countries) to be distributed by PizzaDAO. Over 200k slices served already.

Voting ends: May 13th

Clothing, Every Day, Forever

Summary: &5,800 USDC for the development of, a Nounish fashion brand. Made from sustainable materials, some pretty sweet mock-ups available. CC0, meaning clothing will fall under public domain.

Voting ends: May 12th

Dynamic Quorum Updates

Summary: Since maximum quorum is currently too low to have changed the outcome of any recent proposals, proposals aims to reduce max quorum from 20% to 15%. Increases success of “hell yes” initiatives.

Voting ends: May 11th

Introducing Noun Computers

Summary: It’s what it sounds like—a computer with Nounish branding. And how cute—electrical components will be arranged in the shape of Noggles! They’d sponsor ETH hackathons with provided computers for competitions, with 30% of supply donated to developing countries and minority groups. Profits will go back into the product. Asking for $1,100,000.

Voting ends: May 10th

📝 10 Things To Read or Listen To

📄 “Powering the Future of DAOs with AI” by KAF

📄 “Governance Series: The Gold Standard of Decentralization” by Premia Finance

📄 Elizabeth Warren Has a Lot to Say About Crypto — Try Listening for Once” by Nicole D’Avis

📄 “Snap the scams out!” by Zuza Zuber of Snapshot

🎧 “Oxcart and the Metagovernance Project” on Gitcoin Radio

🎧 “Decentralization as a Design Patter” from octopus

🎧 “Metacrisis Research with Chris Eddy” from Green Pill

🎧 “Coinbase Moving Offshore?! with Tom Duff Gordon VP, International Policy, Coinbase” from Bankless

🎧 “Augmented Reality Social Layer w/ Keiran Sim” from Rehash

🎧 “Christopher Goes – Amona, Namada, and the State of Privacy in Crypto” from I Pledge Allegiance

💫 DAO Talk: david @valory || DT Interview #38

🤭 Meme of the Week

The biggest names in DAO governance are coming to Tally’s Delegation Week, a 5-day event dedicated to exploring the power & potential of voter delegation in the DAO ecosystem. That means Aribtrum, Optimism, Uniswap, ENS, Gitcoin, the list goes on…

Get involved as a DAO, voter, or delegate here! We’ll see you May 22-26.

Subscribe now

~ coolhorsegirl 🐴

p.s.- Welp, I’m stuck in Kuala Lumpur at the moment. After a shocker of a visa situation in Singapore (two letters were swapped in my surname), I got banned from their airport for trying to photoshop a better one. So I bussed to Malaysia and am waiting for a new visa to Vietnam. I feel like a sim—take with that what you will. Manifest CHG’s visa!!

DAOs are building a pro-crypto army

Welcome back to the Tally Newsletter, your weekly source for DAO governance insights. I’m coolhorsegirl and I’m thrilled to be here.

This week, we’re talking regulation, a topic that is simultaneously everyone’s favorite and least favorite thing to discuss. DAOs are fighting back against ambiguous and unfavorable regulatory policy for trading and DAO legal status itself. And they’re using more than just memes.

We’ll also run through a few proposals, like a subdomain-focused one from Uniswap and a few unique ideas out of NounsDAO and its spin-offs. A Nounish mobile game could be coming very soon. Let’s get into it.

🤿 Deep Dive: DAOs are building a pro-crypto army

You’ve seen the memes. Memecoin $GENSLR was on the rise likely in response to memery regarding Gensler’s recent failure to define securities in U.S. court. Last week, Coinbase sued the SEC for lack of clarification on regulation, specifically in regard to its months-old petition. In a recent tweet, U.S. Senator Elizabeth Warren announced that she is “building an anti-crypto army.” Meanwhile, DAOs are fighting back.

Led by the SEC, we’ve seen a crypto crackdown in the U.S. since the collapse of FTX in November. Regulation has been plagued by ambiguity, in regard to trading as well as DAO legal status itself. Enter governance advocacy in favor of crypto from DAOs—think of those dime-a-dozen “please call your congressman” with the heat turned UP. DAOs are making moves that matter.

In partnership with Coinbase, Gitcoin is running an advocacy round, where you can mint Stand with Crypto, a commemorative NFT, to show your support for “sensible crypto policy”—not even particularly “favorable” policy, but “sensible.” So far, over 80k NFTs have been minted. You can mint one here.

“The Stand with Crypto commemorative NFT is a symbol of unity for the crypto community seeking sensible crypto policy. The NFT features a blue shield, representing a collective stand to protect and promote the potential of crypto.”

Until May 9, all mint fees from the NFT will be matched with quadratic funding. Funds will be donated to Coin Center, Fight for the Future, the Blockchain Foundation, Blockchain Association, and DeFi Education Fund.

DAOs have advocacy groups on their side. In their announcement tweet, Gitcoin highlighted Coin Center, 1 of 8 case studies in their impact report. Coin Center joined Gitcoin grants in 2020 and has raised over $1m there from 11k+ contributions and matching funds.

Beyond crypto trading regulations, the regulatory landscape for DAOs specifically has gained governmental attention recently, too. DAOs could get official standing under a proposed California law. Proposer San Francisco Assemblymember Matt Haney is calling Assembly Bill 1229 an effort to “keep up with the times.” Meanwhile across the pond, the first EU-wide crypto regulations have cleared a final parliament vote.

In the words of Gitcoin, “financial freedom and privacy are at risk in Washington D.C.” But this risk does not come without fervent resistance (and counteracting, thanks Coinbase) from DAOs and their contributors.

⌛️ On-chain Proposals

On-chain DAOs are decentralized autonomous organizations that operate entirely on the blockchain, using smart contracts and other blockchain-based technologies for its operations and decision-making processes. Tally believes that true DAOs operate on-chain.


Create v3deployments.uniswap.eth subdomain and populate its text fields

Summary: 9 function calls to create the subdomain and add 8 text records to it. Passed on Snapshot already, canonical deployments of Uniswap v3 will be recorded in this new subdomain. No cost!

Voting ends: May 4th

Public Nouns

Fund Protocol Guild 1-year vesting contract with 10 ETH

Summary: Protocol Guild enables distributed funding for distributed systems. If passed, this proposal donates 10 ETH to a contract that vests over a year. Added bonus is that it contributes to the precedent that projects built on Ethereum should help support the protocol they depend on. Cool idea for sure.

Voting ends: May 2nd

Co-fund CookieJar

Summary: Spending limits meet allow lists in the CookieJar. 2 ETH to co-fund a small safe and a daily allowance (called “cookies”) to anyone on the allow list. Co-funded alongside DAOhaus and RaidGuild.

Voting ends: May 5th

Lil Nouns

Extend Nouns AutoBidder (60E)

Summary: Give AutoBidder 60 more ETH to acquire 2 more Nouns for the DAO. Upping the contract balance but leaving min/max settings as is. And ooh, it recently won Noun 677.

Voting ends: May 3rd


“The Nominal Hero”: A Nouns Middle Grade Novel

Summary: Can Caden Keller work with Nouns to fight off a threat to the Nouniverse? 25 ETH to fund a Nounish book for kids ages 6-10 and living expenses for the author during the writing period of 6 months.

Voting ends: May 5th

Nounish Playground – The Game

Summary: Initial funding of $90k for the 6-month process to get the mobile platformer game off the ground. 3D, multi-player-optional, monetization-possible, and Nounish.

Voting ends: May 6th

WarpedWorld: Nouns Get Warped ⌐◨-◨

Summary: NounsDAO x WarpedWorld. A series of IRL activations involving and proliferating the NounsDAO community, explained in great detail in the proposal. There’s even a proposal video (a 2-minute watch).

Voting ends: May 5th

Autobidder: Withdraw ETH and set ENS reverse record

Summary: To conclude the trial started in Proposal #268, resolve autobidder.nouns.eth to the contract address and withdraw the remaining contract balance to the Nouns treasury (~0.98 ETH).

Voting ends: May 5th

Oni Residency: Nouns Community Discord & Onboarding

Summary: 31ETH for the 6-month continuation of the Jungle, the intended successor to the official Nouns DAO discord that was closed. Full-stack revamp.

Voting ends: May 5th

📝 10 Things To Read or Listen To

🤭 Meme of the Week

Proto-DAOs, mature DAOs, pseudo-decentralization, auditable onchain governance…not sure what those mean or why you should care? Catch up on last week’s DAO talk: “parks and DAOcreation.”

Subscribe now

~ coolhorsegirl

P.S. – Wee trip to Singapore to visit my prom date from high school whom I haven’t seen since, lol. I’m not sure what was cooler: these cute holders for the bubble tea I picked up or this massive wild lizard (“monitor”)!

Memecoin Mania: Are we in a bear market?

Welcome back to the Tally Newsletter, your weekly source for insights on DeFi and DAO governance. We’re dedicated to keeping you in the loop on pivotal proposals, procedural transformations, newly implemented voting mechanisms, and evolving power structures within the Tally ecosystem. Plus, we’ll curate a selection of must-read articles and must-listen podcasts each week to ensure you remain a well-informed citizen of web3.

I’m coolhorsegirl, a DeFi native thrilled to deliver the latest updates to you every week. With prior experience with Index Coop and a diverse range of DeFi projects, I have a keen interest in DAO governance and cutting-edge DeFi innovations focused on promoting decentralization to its fullest potential.

This week, we’re talking MEMECOINS. If you missed out on DOGE about 2 years ago now, you’ve got another chance to go all-in on a memecoin that shows some promise. And it may indicate more than just some passing hopium (cough, 🐻, cough). We’ll also run through a few proposals, like some straight-from-Snapshot proposals from Gitcoin and the usual Nounish stuff. Did you know 15-25 proposals are submitted every other week for a Nouns grant? Meme lovers, meme advocates, and meme apologists—let’s dive in.

🤿 Deep Dive: Memecoin Mania: Are we in a bear market?

Memecoins have come and meme coins have gone. Last bear market, I remember getting on the $DOGE train before I could even pronounce it correctly (I was saying “dodge”) and not getting off until it was too late. While that memory may haunt me, it seems the rest of Crypto Twitter is all too happy to ride the coattails of these volatile coins now in the form of $PEPE, $GENSLR, $WOJAK, and $RUG.

The numbers are crazy. Someone even turned $250 into over $1m (liquidity issues mean it’ll be tough to sell, though, lol). Does this mean we’re in a bear market again??!

Branded as the memecoin “here to make memecoins great again,” $PEPE boasts some impressive numbers:

  • 24-hour trading volume: $40.831M

  • Market Cap: $125.349M

  • Current price is 436.78% higher than the all-time low of $0.000000055142, recorded on April 18 (only one week ago!)

  • All-time high was recorded on April 20, only 2 days apart from the all-time low

Quickly, let’s talk typical memecoin life cycle: A meme coin drops. It blows up within the first few days or weeks of existence. (The strength of meme coins lies in their community and hype-y narrative.) With no governance (meme coin founders, consider Tally) and little to no utility, the price crashes drastically. If a memecoin breaks out of this cycle (as $DOGE did in mid-2021), it’s a good signal we’re in a bear market.

So where is PEPE in this memecoin life cycle? In other words, is this the top or the bottom? Well, short answer is we don’t know. It doesn’t take much analysis, though, to map PEPE onto other memecoins like DOGE. DOGE hit its peak about 5 months after its initial 1% climb, a clear departure from the pump-and-dump timeline of most memecoins. Aside from that, DOGE has been around since 2013, actually. Like PEPE, though, DOGE also hit its all-time high 2 days after its all-time low. Besides that coincidence(?), PEPE seems to be moving much faster than DOGE in the memecoin life cycle.

End of the day, it doesn’t ~look~ like we’re in a bear market just yet. We’ll just have to see $PEPE through, some hopium required. (And don’t blame me if I put in 100 bucks 😩)

⌛️ On-chain Proposals

On-chain DAOs are decentralized autonomous organizations that operate entirely on the blockchain, using smart contracts and other blockchain-based technologies for its operations and decision-making processes. Tally believes that true DAOs operate on-chain.


[GCP-004] Gitcoin Citizens Round

Summary: Following a successful vote on Snapshot, $80.77k to pilot a series of quadratic funding rounds for rewarding efforts by Gitcoin Citizens 2. Main aims are to the barrier of entry for contributing to the DAO, determine what the community values most, and help test (dogfood) the Allo protocol.

Voting ends: April 26th

[GCP-005] Gitcoin Supporting Zuzalu

Summary: Following a successful vote on Snapshot, $176.89k to fund support for the “pop-up city/network state” being built by Vitalik among others. The vote is to partner with Zuzalu and showcase the Allo protocol via financial provisions for a Zuzalu Public Goods funding round.

Voting ends: April 29th

NounsDAO – Extension

Summary: 192.4K USDC to continue maintenance and development of as the main archive center of Nouns DAO over the next 6 months. Pretty interesting archive as is, even to those of us outside of the Nouns ecosystem—definitely worth the check-out.

Voting ends: April 30th

Lil Nouns

Prop House. The Next Episode

Summary: 10.9 ETH & 15 $LIL to fund Lil Prop House rounds for the next three months. Rounds get bigtime engagement—15-25 rounds proposals are submitted each round (which happens every other week). Check out the proposals submitted in the last round.

Voting ends: April 26th

📝 10 Things To Read or Listen To

💫 DAO Talk: parks & DAOcreation || DT weekly #38

🤭 Meme of the Week

Tally loves decentralization. That’s why we’re building Tally Zero, a completely decentralized voting application that let’s you vote onchain with IPFS via Third Web. Try it here! Or help us build (grants available)! Either way, get excited. Coming soon.™️

Subscribe now

~ coolhorsegirl

P.S. – In the spirit of bear market….enjoy some koalas I saw this week! Took a trip up to Canberra this week! It’s a fully planned city so feels a bit utopian but also like a deserted movie set. Animals were cool, though, as per.

WTF is the Shapella upgrade?

Welcome back to the Tally Newsletter, your weekly source for insights on DeFi and DAO governance. We’re dedicated to keeping you in the loop on pivotal proposals, procedural transformations, newly implemented voting mechanisms, and evolving power structures within the Tally ecosystem. Plus, we’ll curate a selection of must-read articles and must-listen podcasts each week to ensure you remain a well-informed citizen of web3.

I’m coolhorsegirl, a DeFi native thrilled to deliver the latest updates to you every week. With prior experience with Index Coop and a diverse range of DeFi projects, I have a keen interest in DAO governance and cutting-edge DeFi innovations focused on promoting decentralization to its fullest potential.

This week, we’re talking Shapella upgrade. Don’t you just love a portmaneteau? Well, this one one offers LOWER GAS FEES (LFG) and some huge unlocks (literally) for validators. I’ll break it down for ya so it’s not too confusing. We’ll also run through a few proposals, like Uniswap’s proposed Deployments Accountability Committee and the usual Nounish stuff (wen keyboard?). Let’s get into it.

🤿 Deep Dive: WTF is the Shapella upgrade?

The Merge is complete! Two network upgrades have happened simultaneously: the Shanghai upgrade + the Capella upgrade = “the Shapella upgrade.” The upgrade will mark Ethereum’s transition to proof-of-stake (PoS) complete and aims to improve the scalability of the network.

If we don’t fix scaling before the next bull run, we know people are going to be stuck paying $500 transactions.” – Vitalik Buterin

Enter: the Shapella upgrade…

Some context: Ok, so we know that the Ethereum network has two layers – the execution layer (a.k.a. Ethereum Virtual Machine or EVM) and the consensus layer (a.k.a. Beacon Chain). Shanghai deals with the execution layer and Capella deals with the consensus layer. The Shapella upgrade consists of 5 Ethereum Improvment Proposals (EIPs), with the most important change coming from one: EIP-4895: Beacon chain push withdrawals as operations.

Some more context: The Beacon Chain is secured by PoS. This means that it needs validators to maintain its integrity. For validators, it’s a pricey endeavor: 32 ETH to secure the Beacon chain. As a reward, validators earn interest on their ETH paid via gas fees on network transactions. But there’s a catch: Validators couldn’t unstake their 32 ETH until a later, undetermined date.

The big news: By EIP-4895, Validators can now unstake their ETH. By the Shapella upgrade, approximately $33 billion worth of staked ETH will be able to be withdrawn (and potentially sold or restaked).

What about the other EIPs? They’re focused on lowering gas fees during instances of extreme network congestion and heightened activity, not just for developers but also for the average user.

The Shapella upgrade is one of the most important events in crypto in 2023. While validators celebrate the liberation of their staked ETH, users like you and me may enjoy lower gas fees, improved security, and a more sustainable Ethereum network. I’m especially excited about those lower gas fees, though 😉

⌛️ On-chain Proposals

On-chain DAOs are decentralized autonomous organizations that operate entirely on the blockchain, using smart contracts and other blockchain-based technologies for its operations and decision-making processes. Tally believes that true DAOs operate on-chain.


Uniswap Deployments Accountability Committee

Summary: 14.33k UNI to create an Accountability Committee for Deployments to oversee the operational development of deployments of Uniswap V3 on other chains. 6 months, 5 already-proposed members.

Voting ends: April 20th


[GCP-006] Infinite Garden Trading Card Game

Summary: A game by Gitcoin! 10.7K GTC to fund 69-150 cards including 5 proposed by the Gitcoin community and 20% of primary sale profits to the Matching Pool. Already passed on Snapshot.

Voting ends: April 22nd


Nouns Autobidder Trial (by Federation)

Summary: Deploy a Federation AutoBidder to purchase Nouns at auction for use in future proposals. Uses 31 ETH from already-ratified Proposal 229 to do it.

Voting ends: April 22nd

The Nouns Mechanical Keyboard

Summary: Self-explanatory. 118.69 (lol) ETH to make, market, and sell some Nounish keyboards. They’re pretty cute, too.

Voting ends: April 20th

Lil Nouns

The Lil Nouns Show – Third Term ⌐◨-◨

Summary: Just over 17 ETH to fund the Lil Nouns Show, a weekly Twitter Spaces with 4 co-hosts hosted on The Noun Square, for 3 months. Since it launched 6 months ago, the show has reached 3337 listeners over 11 Spaces.

Voting ends: April 20th

Extend Nouns AutoBidder (71 ETH)

Summary: Extends AutoBidder by increasing its balance to 75 ETH to acquire 3 additional Nouns. It’s been actively bidding on Nouns for about two weeks now, most recently acquiring Noun 677 for the DAO.

Voting ends: April 20th

📝 10 Things To Read or Listen To

💫 DAO Talk: i think you should DAO || DT weekly #37

🤭 Meme of the Week

That one is from Bankless. Cheers, Bankless.

Exciting stuff from Tally: DAO Talk season 2 is here! Frisson and Tommy kick off the season with the latest on Arbitrum DAO, Other Internet’s attempt to tackle social security for DAO workers, and a new bounty for decentralized governance with AI integration.

All that sound a bit too advanced? If you’re still learning the ropes of DAO gov, check out Layer3’s new Introduction to DAOs quest (and earn rewards doing it)!

Subscribe now

~ coolhorsegirl

p.s.- In the last week, I’ve joined my favourite band The 1975 on every single concert on their Australian tour. Honestly, it feels like I’ve been on tour myself, I’m so tired. Anyway, the best concerts were in Melbourne. Camping out at the same arena for days on end actually turned out to be worth it because look how close I got!! I swear we made eye contact at least four times. DM me if you want any videos 😉

Butter’n Up Delegates: An Incentive-Driven Approach to Boosting Governance

Welcome back to the Tally Newsletter, your weekly source for insights on DeFi and DAO governance. We’re dedicated to keeping you in the loop on pivotal proposals, procedural transformations, newly implemented voting mechanisms, and evolving power structures within the Tally ecosystem. Plus, we’ll curate a selection of must-read articles and must-listen podcasts each week to ensure you remain a well-informed citizen of web3.

I’m coolhorsegirl, a DeFi native thrilled to deliver the latest updates to you every week. With prior experience with Index Coop and a diverse range of DeFi projects, I have a keen interest in DAO governance and cutting-edge DeFi innovations focused on promoting decentralization to its fullest potential.

This week, we’re exploring another aspect of one of 2023’s most-discussed governance topics: delegation. We’re shifting our focus to professional delegates. Gone are the days of not delegating, choosing delegates haphazardly, or being unsure about whom to delegate to. Butter has introduced an incentive-driven program for Aave DAO that targets professional delegates, a trend we anticipate will become more common as the year unfolds. Additionally, we’ll examine a few proposals, including Uniswap’s chain expansion and the quirky, unique proposals from Nouns and Lil Nouns. Let’s dive right in.

🤿 Deep Dive: Butter’n Up Delegates: An Incentive-Driven Approach to Boosting Governance

Delegation is HOT. A few weeks ago, we covered the rise of university delegate groups and this week, we’re running through professional delegates, the latest of which has been enabled by Butter. Let’s get into it.

Professional delegates are individuals or organizations with a proven track record in DeFi, possessing extensive technical knowledge and experience in decentralized governance. They actively participate in governance discussions, propose changes, and vote on behalf of their delegators. Simply, they participate full-time in governance to act in the best interests of the community to ultimately help protocols succeed. Check out this article for a comprehensive explanation of professional delegates.

On that topic, emerging DAO governance platform Butter has partnered with Aave Grants DAO to launch a 3-month pilot delegate campaign to financially incentivize the best talent and expertise to govern the DAO, which will ultimately lead to the best outcomes for the DAO. Get the full rundown with Butter contributor noturhandle.eth in this podcast, or check out the SparkNotes below:

The 3-month campaign unfolds in three stages:

  1. Election Week: Aave holders cast their (weighted) vote for 1 of the 13 (pre-approved) delegate candidates in a 3-day Snapshot. All candidates have written Delegate Initiatives and spoken on Boardroom’s Twitter Spaces. This period has *just* ended: TokenLogic has won.

  2. Delegation Week: The winning delegate receives delegated tokens over this 7-day period, ideally from all those who voted on the Snapshot. Delegators receive exclusive NFTs.

  3. Campaign (Representation Phase): The chosen delegate represents delegators’ interests in Aave governance while receiving AAVE as compensation (~222 Aave/month funded by the Aave Grants DAO to Butter). During this campaign, Butter provides in-depth performance reviews at the end of each month.

This is exciting stuff—participation in Butter’s campaign proved more than just decent, and this is week 1 of 12. But this system goes beyond Aave and Butter. If all goes well, we could see this in the same system repeated at Aave as well as sprouting up throughout the ecosystem. It seems the next wave of DAO governance lies in professional delegates.

⌛️ On-chain Proposals

On-chain DAOs are decentralized autonomous organizations that operate entirely on the blockchain, using smart contracts and other blockchain-based technologies for its operations and decision-making processes. Tally believes that true DAOs operate on-chain.


Uniswap v3 Gnosis

Summary: Simple: Deploy Uniswap v3 to Gnosis. The proposal has been in discussion since last April with all temperature checks receiving overwhelming support.

Voting ends: April 15th

Uniswap V3 Launch on zkEVM

Summary: Same thing as above but with Polygon’s new zk-rollup. Makes a lot of sense given the massive user uptake Uniswap has seen on Polygon PoS.

Voting ends: April 14th

Lil Nouns

# Perpetual POAP Program

Summary: 3.75 ETH to scale the POAP Program (that already exists), a body that provides custom artwork to event managers. Funds will go towards the continuation of the program PLUS marketing (that has previously gone by the wayside).

Voting ends: April 11th

Nouns DAO

Nouns Esports – CS:GO and Dota2 Rosters 2023

Summary: Esports Pod, which has been running since August, has seen success in marketing/hype and actual competitions. Now they’re asking for $795,000 for ongoing financial support for the teams.

Voting ends: April 12th

📝 10 Things To Read or Listen To

💫 DAO Talk: DAO Talk Halftime Show || DT Weekly Ep. 36

🤭 Meme of the Week

Get ready for the launch of DAO Talk Season 2 next week! Eagerly anticipate more engaging conversations from Tommy and Frisson as they delve into the most critical (and frequently the most eccentric) topics in the DAOverse. Also, remember that as Delegation Week starts in Butter’s Aave Delegation campaign, you can delegate on Tally!

Subscribe now

~ coolhorsegirl

p.s.- Happy Easter weekend! I’m never quite sure what the protocol in crypto is re public holidays—does anyone really take off work? A few years ago I staged this Easter-themed photoshoot of my (adorable) bunnies. This Easter I was busy grinding Midjourney whilst fighting my crippling addiction to sour gummy worms.