GFX Labs Delegate Communication Thread

This thread is intended to provide a record of GFX Labs’ voting and communication around the reasoning of each vote. Subsequent voting communications will be added to this thread over time.

3 Polls Ending June 26

Proposal A
Summary: This is a batch vote for 24 grants, ranging from Chainlink to Synthetix to Gelato. It includes 23 different protocols, and a full list with requested amounts of OP and individual spending plans can be found here. This vote is to approve or deny all 24 grant requests together.

Recommendation: Vote Yes. Batched approvals of grants are poor governance, as they remove oversight, overload voters, and generally bundle together spending in a way such that many stakeholders get a turn at funding. Optimism is in early days and requires developing a strong ecosystem for users, but we feel strongly that unrelated spending proposals should not be bundled together like this again in the future.

Proposal B
Summary: This proposal would distribute a 1,000,000 OP grant to Uniswap. 200,000 OP of which would be earmarked for grants from Uniswap to builders on Optimism. The remaining 800,000 would be earmarked for liquidity mining on Uniswap Optimism.

Recommendation: Vote Yes. While the pools to be incentivized have not yet been specified, Uniswap is core infrastructure and it is difficult to imagine a successful Optimism without a robust adoption of Uniswap, which also has a proven network effect that makes users and liquidity sticky after incentives eventually end.

Proposal C
Summary: This proposal would distribute a 300,000 OP grant to 0x. The entirety would be earmarked for the 0x grants program, with an intent for at least 50% to be directed to NFT/gaming projects on Optimism.

Recommendation: Vote Yes. Like Uniswap, 0x is known as an important piece of on-chain infrastructure. It also has a grants program with an established history and ability to channel funding. The focus on non-financial uses of Optimism hold the potential to create more diverse use cases for Optimism, and 0x’s recent shift into NFT infrastructure strongly suggest they have the expertise to distribute grants in that industry effectively.

NB: GFX is having difficulty voting on Snapshot, which does not currently support multisig voting on Optimism. We use best practices for handling assets internally – including voting power that has been delegated – and utilize a multisig on our delegate address. We are attempting to find a workaround, but ultimately, Snapshot needs to support voting from multisig addresses.

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I was looking for place to share thoughts on votes and in general related to proposals. I like this approach, will create one for me too.

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