LTIPP [Post Council Feedback] Proposals
The @SEEDgov delegation has decided to vote:
AGAINST - ACryptoS Protocol - Funding Approval for LTIPP [Post Council Feedback]
FOR - Connext - LTIPP [Post Council Feedback]
FOR - Smilee Finance - LTIPP [Post Council Feedback]
AGAINST - CVI.Finance - LTIPP [Post Council Feedback]
FOR - Rage Trade - LTIPP [Post Council Feedback]
FOR - D2 Finance - LTIPP [Post Council Feedback]
FOR - Bedrock - LTIPP [Post Council Feedback]
FOR - Yearn Finance LTIPP [Post Council Feedback]
AGAINST - Deri Protocol - LTIPP [Post Council Feedback]
AGAINST - Tradao - LTIPP [Post Council Feedback]
AGAINST - DODO LTIPP [Post Council Feedback]
ABSTAIN - Clipper - LTIPP [Post Council Feedback]
FOR - Synthetix - LTIPP [Post Council Feedback]
ABSTAIN - Sushi - LTIPP [Post Council Feedback]
ABSTAIN - Buffer - LTIPP [Post Council Feedback]
Grant Request - Curve Finance
The @SEEDgov delegation has decided to vote FOR this proposal at the Temperature Check and the Tally Vote.
Rationale
We’d like to highlight that CurveLens introduces significant innovations in its liquidation and efficiency mechanisms, particularly in the integration of crvUSD, the stablecoin that can be borrowed against any of the listed assets. Mich has incentivized this protocol on Arbitrum with personal capital, not DAO funds, and has made similar efforts for crvUSD across various Layer 2s and other prominent EVM chains to increase liquidity for this new product.
For more details on how it works, you can visit: https://cryptorisks.substack.com/p/a-primer-on-curve-lending
However, we must be cautious regarding incidents like the one on 04/13; CRV wasn’t arbitrable for several hours, which led to the liquidation of some positions using this asset as collateral. This incident was related to the low liquidity of CRV on Arbitrum and a shortage of arbitrage operators. While these issues were not severe, the inclusion of CRV did expose some risks.
We believe the proposal is solid, coherent, and well-founded. It proposes using ARB as a direct incentive, and it would be interesting to delve deeper into the rationale for this strategy, rather than directly incentivizing the stakers. We estimate that this point has already been considered and that the decision was made in pursuit of maximum efficiency.
We vote in favor. CurveLens’ choice of Arbitrum as its first chain following Ethereum is key to the Curve ecosystem, as it brings significant capital efficiency to users, as well as opening up many possibilities for innovation in the creation of Perps and high-leverage operations. CrvUSD has performed impeccably since its deployment. Curve, already established as an essential on-chain infrastructure, is expanding its ecosystem and introducing innovations across various sectors; its integration into Arbitrum represents a win-win that also benefits the users.
We appreciate the work @Jadmat did on this analysis.
GovHack at ETH CC (Brussels)
The @SEEDgov delegation has decided to vote FOR this proposal at the Temperature Check and the Tally Vote.
Rationale
We are 100% supportive of this proposal as we at SEEDGov believe that it is a very valuable initiative for the DAO and that previous experiences with this type of event allow us to anticipate that it will bring great initiatives to the Arbitrum ecosystem.
Double-Down on STIP Successes (STIP-Bridge)
The @SEEDgov delegation has decided to vote FOR this proposal at the Tally Vote.
Rationale
After having voted against Snapshot, there have been modifications to the original proposal that brought the initiative closer to what was done during LTIPP, incorporating the participation of the advisors already elected for that program and also having the possibility of disputing those protocols that the community considers “underperforming” or that are using incentive mechanisms that are not aligned with what was approved in LTIPP.
These modifications give us a more encouraging outlook for the proposal and that is why we have decided to support the proposal in the on-chain vote.
We still believe that a complete analysis should be prioritized at the end of LTIPP/STIP Bridge to allow us to design a long-term joint framework that does not distinguish protocols by whether they received funding from one program or another.