SIP-37: Whitelist Layer2DAO contracts

Proposal Authored by: Weston Nelson | Layer2DAO

Summary

This proposal is to add the Layer2DAO Multisig and relevant contracts to the veSDL Whitelist.

Abstract

This SIP seeks to add the Layer2DAO Multisig to the veSDL whitelist. Allowing them to lock $SDL, participate in governance, and build products that utilize the vote escrow mechanism.

Background

Ethereum Layer 2 scaling solutions present an enormous opportunity for Saddle to capture new users, TVL, and market share in the crypto ecosystem. The Layer2DAO ($L2DAO) is a protocol focused on encouraging and supporting projects like Saddle Finance, with similar values of increasing Web3 user adoption.

Motivation

L2DAO has demonstrated they have a strong interest in aligning and building a long-term mutually beneficial relationship between Saddle Finance and the Layer2DAO. The visions and values of the DAOs align very closely and there is immense potential for synergistic benefits to come from partnering. L2DAO has been acquiring $SDL on the open market with intent to lock and participate in gauges -- and with plans to bring Convex-like ve-token yield aggregator strategies to L2; Whitelisting the Layer2DAO Multisig and required contracts gives those protocols supported by Saddle the opportunity to grab more $SDL emissions for their communities in gauge votes [via bribing]. This change will likely increase the utility of the $SDL token by giving lockers a way to automatically optimize yield and a means to earn additional yield from protocols willing to pay for their influence.

This SIP will enable the Layer2DAO to create a yield-optimizer that benefits $SDL token holders and creates a strong market dynamic/incentive to lock $SDL, a key measurement of protocol success.

Specification

For: Add the following contracts to the veSDL Whitelist:

Layer2DAO Multisig: 0x634EAbE7C03Bcf701a5FF3C0510E9AcB2d5F5196

Layer2DAO SDL Voter Proxy: 0x882094c153d83da48df9660e7470a478199f1bd5

Against: No change.