Proposal: GIP-149
Vote: Against
Reasoning: We do recognise that revoke.cash is a useful service with a long track record across the industry. With that said, there are dozens of services that integrate with Gnosis Chain of similar quiet utility. We do not want to establish the precedent that any service which chooses to integrate Gnosis Chain should qualify to be funded by GnosisDAO. To grant funding, we want to see commitments to deliverables that will actively improve Gnosis, not just sustain existing services.
Perhaps if the volume were greater, we would see more force in the argument to fund revoke.cash. However, at an estimate of $900k saved since 2021, we estimate this is less than $200k per year on average. A cost of $20k for 12 months of maintenance seems disproportionate to the benefit received here. We are also conscious that there are a selection of other services that support approval revocation workflows; we would prefer for the DAO to explore different options for third-party support (or even building internal services) before committing to revoke.cash as a funding service.
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Proposal: GIP-150
Vote: Abstain
Reasoning: we gave a very detailed opinion in the thread here, so will not repeat that all here. In essence, this deal is heavily skewed towards redeeming holders and it’s bad for Gnosis’ future prospects. But the way it’s been handled by leadership is also terrible for holders as it exposes that they either disregard decentralised governance or have stacked the deck here from the start. We won’t argue for the proposal, but we don’t defend the status quo and we don’t intend to get in the way. We just want more from Gnosis’ leadership here, to show that there’s a reason — any reason — not to redeem your GNO and exit the project.
For reference, we share our recent article on RFV attacks which we’ve also been defending against in support of Beefy DAO. Beefy has taken a very different approach to Gnosis on this, and we’d hope to persuade GnosisDAO participants and Gnosis leadership that there are better ways to handle this redemption proposal.
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Proposal: GIP-151
Vote: For
Reasoning: We appreciate that the Gnosis founders have endeavored to find a solution to the challenges presented by GIP-150. Though draining the treasury to buyout dissatisfied holders is damaging for the project’s runway, we recognise that this is important to enable Gnosis to move past these challenges and continue to operate. It’s also an important moment to consolidate holders and a direct signal as to confidence in leadership; holders would face a clear choice, in or out, and those who remain will be indirectly ratifying the current leadership manifesto in their choice to stay. We think this is a helpful reset at this stage in the journey of GnosisDAO.