DeFi LATAM - Delegate Communication Thread

Following @GFXlabs and @OPUser initiatives, this is our thread with all our relevant decisions and participation in OP governance.

Presentation

DeFi LATAM is a spanish speaker community for the Web3 & crypto ecosystem, focused on education and adoption of users in Latin America under the values of decentralization and towards the future of internet. We detect the potential of Ethereum’s scaling solutions for our region and for this reason we have decided to be a representative voice of the ideas and interests of this increasingly growing community in this part of the world.

Read our full presentation in Delegate Commitments thread here.

Delegate

joxes.defilatam.eth

Our procedure

With the help of numerous contributors and member of DeFi LATAM and Optimism Español, every decision made on behalf of DeFi LATAM in governance is discussed, agreed upon and communicated to all those interested in participating through our discussion channels on Discord:

DeFi LATAM>Gobernanza>Optimism-op.

Participation in the forum’s discussion threads in daily activities are own opinions of the delegate and contributors in their way to keep up with their roles and commitment to the governance; use of “we” or “us” shall apply when representing decisions or communications arising from the community, such as voting decisions and proposal submissions, all through this profile.


Special thanks to PEPO, Cryptochica, our contributors @Defi_LATAM_axlvaz, @NicoEsp, @Netrim, @994.eth, all our community and people from Latin America who support us!

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Past actions.

Governance Fund Phase 0 voting decisions:

  • Proposal A - Batch Vote: For.
    Reasons: we are ok supporting this proposal to start encouraging the growth of the optimism ecosystem. While we don’t agree with the vote taking place in a single batch, there is no reason to reject it among the 24 listed proposals included here.
  • Proposal B - Uniswap: Against.
    Reasons: did not follow the guidelines.
  • Proposal C - 0x: Against.
    Reasons: did not follow the guidelines.

Governance Fund Phase 1 voting decisions:

  • Proposal A: Optimistic Railway: No
    Reasons: in a very early stage, without clarity of what kind of positive impact it can have on the ecosystem.
  • Proposal B: dForce: Yes
    Reasons: protocol of the first to deploy in Optimism. Acceptable proposal and detailed.
  • Proposal C: GYSR: No
    Reasons: Amount higher than its potential use case. No clear strategy.
  • Proposal D: Mean Finance: Yes
    Reasons: a one-of-a-kind protocol. Reasonable distribution. This project is well known and supported in our region.
  • Proposal E: Raptor: No
    Reasons: does not apply to this phase.
  • Proposal F: Balancer & BeethovenX: Yes
    Reasons: reasonable proposal in general terms, it seems positive to us.
  • Proposal G: Summa: No
    Reasons: it doesn’t make sense at this stage, they ask for an excessive amount of tokens.
  • Proposal H: WardenSwap: No
    Reasons: DEX aggregator. Not very interesting proposal. It would be good to see the deployment first to judge better.
  • Proposal I: Pickle Finance: Yes
    Reasons: known team and protocol, reasonable proposal.
  • Proposal J: Ooki Protocol: No
    Reasons: excessive amount for the protocol use case (see metrics in other chains). Author does not ensure co-incentives.
  • Proposal K: Infinity Wallet: Abstain
    Reasons: difficult to evaluate, we leave it to the rest of the voters to establish their criteria.
  • Proposal L: Beefy: No
    Reasons: excessive amount according to distribution. Not deployed at the time of decision.
  • Proposal M: 0xHabitat: No
    Reasons: from our perspective they should finish defining ideas and deploying in Optimism. Happy to re-evaluate later.
  • Proposal N: Thales: No
    Reasons: this project received funding from Phase 0. Distribution has not started yet. It’s counterproductive to approve new funds without evaluating the use of previous funds.
  • Proposal O: Paraswap: Yes
    Reasons: reasonable proposal.
  • Proposal P: Roki: Yes
    Reasons: well detailed proposal, interesting use case. Reasonable.
  • Proposal Q: Candide: Yes
    Reasons: wallet focused on Rollups, with innovative features. Experimental proposal.

Other actions:

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In an effort made by community members, we have made a proposal to improve significatly the phase 1 templates:

Update of the PHASE 1 protocol nomination template.

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Today our 2nd Governance Call was held after a past week as timeframe to discuss the proposals of cycle #3. In this call we settled our discussions and vote as a community. The results can be found below with details and our feedbacks following the links:

  • Proposal A: Superfluid: Yes.
  • Proposal B: Kromatika: No.
  • Proposal C: Hundred Finance: No.
  • Proposal D: Biconomy: Yes.
  • Proposal E: Dope Wars: No.
  • Proposal F: Infinity Wallet: No.
  • Proposal G: DexGuru: No.
  • Proposal H: Overnightfi: No.
  • Proposal I: Saddle Finance: No.

Despite significant negative votes, we believe that our feedback and that of other delegates and community can be useful for several proposals to be successful in passing in the next cycles.

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Hello all!

Last friday we held the 3rd governance call on Discord to discuss the proposals for cycle 4. As in past calls, we focus on ratifying our decision as a community in the ongoing voting and also express opinions about the future of governance given the completion of Season 1.

Participants: ~26 (special thanks to Pacha for the design) + various other members during discussion week.

As result, our vote for cycle #4 has been as follows:

  • Proposal A: Rocket Pool: Yes.
  • Proposal B: Boardroom: Yes.
  • Proposal C: dHedge: No.
  • Proposal D: xToken Terminal and Gamma Strategies: No.
  • Proposal E: Byte Mason Product Suite: No.
  • Proposal F: GARD: No.
  • Proposal G: Beefy Finance: Yes.
  • Proposal H: BarnBridge: No.
  • Proposal I: QiDao: Yes.

Please click on Yes/No to read our conclusions.

We commend the projects that took the time to consider the feedback from the community and delegates that led to some successful proposals passing. For the rest, keep working on the proper queries in the forum for the next cycle of Phase 1, see you in Season 2!

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Today, we have formalized our participation in the formation of Governance Committees proposed for season 2 of Optimism governance.

Currently we’re part of two committees proposals as reviewers, details below:

  1. Committee proposal: DeFi, lead by @OPUser
    We will be working alongside the following reviewers: Dhannte, MinimalGravitas, ScaleWeb3.
    We feel very comfortable with our team, as each and every one of them has had an important presence in the governance for Season 1 to have culminated with relative success. Also, we share the same values strongly aligned to Optimism itself.
    As expected, we will move so that the proposals make sense and everything is in accordance with alignments, proposed goals and shared values, while prioritizing long-term, genuine growth and derisk of gaming incentives.
    [DRAFT] S02 Committee Proposal: DeFi

  2. Committee proposal: Tooling Governance Committee, lead by @krzkaczor
    We will be working alongside the following reviewers: lefterisjp, cryptotesters, ceresstation.
    Tooling and infrastructure is probably one of the most undervalued topics and does not necessarily directly impact the conscious interests of the end user, as it does in the DeFi category with the usual standard liquidity mining programs and other incentives.
    We are proud to have been able to deliver the proposal on time with a framework that we believe is an excellent starting point, considering the potential variety of proposals applying to this category and that we are ready to address as a team.
    [DRAFT] S02 Committee Proposal: Tooling Governance Committee


Our procedure in the current committees:

As we stated in our first post, currently this delegation is performed by Joxes (myself) as a leader alongside a team made up of spanish-speaking contributors with experience in DeFi and other topics. Some members have been enormously active as @Netrim @Defi_LATAM_axlvaz @NicoEsp and other committeed to this commitment, without this having to mean any type of obstacle, but on the contrary, rapid execution of any task, and preserving our original mission as a community for Optimism governance.

In the formal instances/aspects, I bear all responsibility as leader and representative of DeFi LATAM, delegate and sole owner of this account and ENS.


About our participation in two differents committees:

We have absolute confidence in carrying out our work in favor of OP collective and these conditions were accepted by the rest of our committee teams. If the foundation, delegates or community strongly believe that this represents a severe problem, we can reach a resolution. However, we are pleased to contribute to making both proposals possible within the established times, and looking forward to season 2 being successful in all aspects.

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Hello all!

This monday we held our 4th Governance Call in Discord to discuss and decide our votes on selection of governance committees for season 2, according to Voting Cycle #5. Following our ethos and role as delegate, we carry out a decision-making process between our collaborators and the community we represent.

Participants: +30 attendees (27 :medal_military:collected; special thanks again to Pacha for the design).
Duration: 1hs 49min. In the last quarter, we had the presence of a Boardroom member, who told us about his work on the project.

Below is a summary of this Governance Call:

Our voting procedure

After a review of each governance committee proposal received, we proceeded with the following format:

  1. At first, we consulted the community on what should be the action of our delegation on our voting decision in the committees that we are part of (Tooling and DeFi - C). Through the discussion process we ratified the following decisions:
  • DeFi Committee [Group C] - we abstain
  • Tooling & Infrastructure Committee [Group A] - we abstain
  1. We now continue to discuss what approach we should follow regarding our voting decision in the DeFi A and DeFi B committees, considering our participation in DeFi C. We received different opinions, reaching consensus on:
  • DeFi Committee [Group A] - we vote for
  • DeFi Committee [Group B] - we abstain
  1. We finalize our voting decisions with the last NFT category committee:
  • NFT Committee [Group A] - we vote for

Our rational

Collaborators and community are aligned with the desire to help Optimism but also ensure that the governance processes are genuine and authentic. In our case, our internal communication ensures that our community members can express their preferences and discuss until a consensus is reached.

Regarding the vote for ourselves, we believe that it is not positive for the governance and leaves a bad signal with respect to the rest of the members of the governance and community who want to give their opinion and decide on our proposals.

Interestingly, as a community working as such since the beginning of Optimism governance, we present a possible option of being able to choose to vote in favor of a DeFi committee that best fits the governance objectives and with a solid proposal, in an attempt to express which committee different from ours is ideal for the role. In this case, the framework shown by committee A plus its members was the preferred option, with respect to committee B, whose framework is not well seen with said system of points explained. Notably, some major contributors considered abstention for all three groups to be a better path.

About the Optimism Foundation recommendation for voting for 1 or 2 committees, we take sides by voting in favor of the NFT committee as well, we truly believe that it is important for governance, and possible incursion into identity topic proposals should be ideal and critical to add experience for future iterations.

Final words

We are excited about the work done so far and to have the collaboration of the Optimism Español initiative to successfully carry out our entire participation process for Season 2. If you are a Spanish speaker and want to join our community, don’t forget to visit our Discord and stay tuned for future calls and updates.

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