Across UMA Voting Committee (AUVC) Formation Proposal
Author(s): EAsports, TheRealTuna, Underethsea, MyDefi, Neondaemon Status: Proposed Related Discussions: https://forum.across.to/t/across-uma-voting-committee-formation-proposal/2008
Summary:
This proposal establishes the Across UMA Voting Committee (AUVC) to actively participate in UMA governance, safeguard the Optimistic Oracle (OO), and generate $UMA rewards for the Across DAO. It outlines the committee’s structure, operations, and benefits, including a potential for millions in annual revenue for the DAO.
Key Points:
- Motivation: Leveraging the DAO's 2M $UMA to enhance OO security and generate rewards (~30% APY, potentially $600K $UMA/year).
- Operations: A 5-member AUVC will oversee voting, provide monthly transparency reports, and operate under a multisig wallet structure for security.
- Funding: Initial allocation of 20,000 $UMA for committee compensation and gas costs.
- Revenue Split: 94% to the DAO Treasury, 6% to AUVC members. Reduced from previous 8% request
- Term Limit: This has been updated to include an initial 1 year term limit.
Full Proposal & Details:
- Full Proposal Document: This document includes all details as well as links to the SOP and governance guidelines documents.
- Discussion Thread
Voting:
A “Yes” Vote
- Approves the formation of the AUVC
- Sends 20,000 UMA to the AUVC 3 of 5 Payments multisig 0x1AB83bc391B0bDbc34Ab69D02Bf34f4B643C64F4
- Approves 1,980,000 UMA to be staked into the UMA Voting Contract 0x004395edb43EFca9885CEdad51EC9fAf93Bd34ac
- Stakes 1,980,000 UMA into the UMA Voting Contract
- Sets the AUVC Voting Wallet 0x55Cfebb12AB9A0C982057109b14f394dC19abA03 as the delegate for the staked UMA tokens
A “No” vote rejects the AUVC
Off-Chain Vote
Timeline
Dec 05, 2024Proposal created
Dec 05, 2024Proposal vote started
Dec 12, 2024Proposal vote ended
Dec 12, 2024Proposal updated