YIP-72: Delegating $INDEX governance votes in the treasury to get approval to build $UNI KPI Options

Author: Feddas Forum Post: https://forum.yam.finance/t/delegating-uni-and-index-governance-votes-to-get-approval-to-build-uni-kpi-options/1487

Basic Summary

The goal of this proposal is to delegate voting of the $INDEX tokens in the treasury to:

iyamfeddas.eth

for Yam to help submit and approve a proposal to build KPI options for Uniswap's community treasury which holds over $2 Billion in UNI tokens. Here's the original governance forum post: https://gov.uniswap.org/t/temperature-check-should-we-be-managing-systemic-risk-in-uniswaps-community-treasury-using-kpi-options/12624

Abstract

Yam.Finance team and UMA team is asking for help in consolidating our $UNI votes and $INDEX votes to iyamfeddas.eth so that we can:

1. Assist Uniswap to divest their community treasury by utilizing KPI options.
   1. In order to do so we need to go through their governance process. Which require 3 different votes each with higher quorum requirements (25k / 50k / 40m).
2. $INDEX tokens can be used to vote on Defi Pulse Index meta proposals which has a significant number of $UNI votes.
3. Can also support future initiatives that might be mutually beneficial for Yam / UMA and partners.

Background

Feddas is directly in charge of Yam Treasuries, a treasury management as a service by Yam. Yam Treasuries has been leading the charge on treasury management for DAOs. We’ve realized that there are significant systemic risks for DAO’s treasuries. During the bear market of 2017 multiple projects were forced to sell their treasury at historically low values, which ultimately caused many of them to disband and shutter.

Treasury management is mission critical for DAOs, yet the challenges and complexities are formidable. Sushi realized this systemic issue and collaborated with Yam.Finance to build a custom treasury management solution called sushiHOUSE: https://forum.sushi.com/t/sushihouse-a-treasury-management-proposal/3106 1

Motivation

Governance is a very challenging issue in DAOs. DAO governance participation is usually very low on the list of priorities for most stakeholders. As a long term stakeholder of a project, its not that you don't care about the governing the protocol but it's usually two reasons that keep you from participation:

1. Lack of time to fully understand the proposals or even the time to read and follow.
2. Thinking that your participation doesn't really matter.

Vote delegation helps solve these two issues and will directly help in building out the Yam and UMA ecosystem.

How to Delegate your $UNI votes

Step 1: go to https://app.uniswap.org/#/vote

Step 2: click on edit

Step 3: Add Delegate +

Step 4: Delegate to iyamfeddas.eth (all lowercase)

Step 5: Confirm Transaction! Your done, now each phase of the voting can be done by Feddas.