Today in DeFi - GYSR,Uniswap Soft Governance, and More
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GYSR
GYSR has launched recently. A yield farming project for projects seeking to do yield farming, GYSR allows projects to easily setup liquidity mining to the parameters they choose.
Find out more, or farm GYSR at gysr.io
Today in DeFi is sponsored by Zapper - the Dashboard for DeFi.
Zapper lets you manage your DeFi assets and liabilities in one simple interface. It integrates with popular yield farms like BarnBridge, DEXes and lending platforms, letting you zap in and out of farming opportunities easily.
Try it today at Zapper.Fi
Uniswap Soft Governance
Perhaps in light of the two recently failed proposals in Uniswap Governance, Uniswap Growth Lead Ashleigh Schap has recently drafted a โSoft Governance Proposalโ. Similar to MakerDaoโs polling, this proposal suggests using Snapshot and other tools to incrementally โtemperature-checkโ and move potential proposals to the more formal, on-chain voting stage.
The reason for this new soft-governance suggestion may be because both on-chain proposals so far have failed, despite having an overwhelming โyesโ ratio.
The first proposal was to reduce the quorum - the threshold for votes to activate a proposal. However, despite reaching the dictionary definition of quorum, Uniswapโs โquorumโ is defined as the number of yes votes.
Despite reaching over 40M UNI delegated in the proposal, it did not meet the Uniswap โquorumโ of 40M yes votes, so the proposal was not activated.
As this is not how most people understand how quorum works, itโs possible that many users simply assumed that the vote would pass and did not participate as they didnโt think their vote was needed.
In another, similar situation, a proposal to retroactively grant an airdrop to users of wallets and third party tools that interacted with Uniswap failed. Just like the other proposal, there was a large number of yes votes, but the proposal failed due to lack of quorum (both dictionary and Uniswap definition this time.)
Unlike the first proposal, in this case there was deliberate abstainment from the vote by prominent parties to encourage a stronger โyesโ signal from small-medium sized voters on a potentially controversial proposal.
Decentralized Governance is complicated and nuanced, and I encourage those interested to read the forums themselves.
DeFiDollar Liquidity Mining
DeFiDollar liquidity mining has started and will end on Nov. 3. Read the article for details.
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Disclaimer: Projects or tokens mentioned in this newsletter are often experimental or unaudited. Do your own diligence before using or buying anything mentioned