IIP-67: Delegate UNI to Flipside for Community-Enabled Analytics

Status: Proposed Authors: @fallow8, @metfanmike Created: 2nd August 2021 Discussion-to: https://gov.indexcoop.com/t/iip-67-delegate-uni-to-flipside-for-community-enabled-analytics/2242 Quorum: 99742 [1,994,859*0.05]

Summary

Delegate a number of Index Coop-controlled UNI votes to allow Flipside to formally propose Community-Enabled Analytics for UNISWAP as described here and here. Those links are to their Temperature Check (99.97% approval) and Consensus Check (99.95% approval) posts on UNI.

Abstract

We’re proposing a temporary delegation of 1.5 million of Index Coop UNI to support Flipside’s governance proposal for a Uniswap Grant. In practical terms, the ask is small. A simple delegation, for the time of voting (a few days), then the delegation is returned. But we’re proposing this as community members because we’d be attaching our reputation and resources to this project.

Here is their proposal for a Uniswap grant in their own words:

Flipside requests a $25M Grant to produce Community-Enabled Analytics for Uniswap.

The $25M wouldn’t be spent.

Rather, we propose using Uniswap’s own profit-creation mechanisms to take UNI out of the hands of those selling it, and put it directly into the hands of those building and using the protocol. This not only leads to timely, perpetual analytics and tools, but directly rewards analysts and users who spend their time understanding and working on Uniswap.

Flipside is a blockchain analytics company originally formed in 2017 as a registered investment fund, utilizing data science and sophisticated algorithms to inform digital asset allocation strategies. While the business model was transitioned to focus on blockchain and community-enabled analytics, Flipside continues to manage a significant balance sheet of digital assets consisting of both active and passive investment strategies. Community member @catjam works for Flipside and politely agreed to let us call that out to help demonstrate existing alignment between Flipside and the Coop.

Motivation

We (@fallow8 and @metfanmike) feel this is an excellent opportunity for the Coop to support an initiative that:

• Directly attracts users for and adds value to one of DPI’s largest components
• Encourages much-needed education and ecosystem support for DeFi analytics (@metfanmike has stated an intention to use it as a forcing mechanism for him to learn SQL)
• Take the first steps in a long-term relationship with an active and engaged participant in DeFi in Flipside that also manages assets

All of this with little downside, cost, or effort to the community. It amounts to a Metagovernance vote with a few extra steps.