Uniswap DAO to weigh giving ‘underrepresented’ delegates more voting power

The proposal’s author called the voting power boost for active delegates an experiment in accountability for DAOs


Satheesh Sankaran/Shutterstock modified by Blockworks


A group of seven Uniswap DAO delegates who vote over 80% of the time — but possess marginal voting power — moved closer to receiving a voting power boost after a Wednesday temperature check vote. 

The proposal would split 10 million uniswap, worth around $60 million at current prices, among “underrepresented” DAO delegates with less than 2.5 million uniswap. A DAO borne out of Georgia Tech’s blockchain club and the trading firm Wintermute were the two most popular delegates in the temp check. 

The proposal now faces an on-chain vote before delegates would receive uniswap (UNI) from the DAO’s treasury. To be clear, the UNI would not be funds the delegates could spend or trade, but would bump up their share of voting power on future governance matters. 

As with many DAOs, Uniswap’s DAO allows token holders to either vote themselves or delegate their voting power to another wallet address. There are more than 30 delegates with at least 2.5 million delegated votes, the line the proposal sets for “underrepresented.” Variant Fund general partner Jesse Walden is the second-largest delegate with around 8 million tokens.

Read more: Uniswap’s DAO poised to try its hand at venture capital

The governance service provider StableLab authored the delegation proposal and would also receive governance tokens were it to pass. StableLab also proposed and passed a delegation incentive program this week at Rari DAO.

Doo Wan Nam, chief operating officer of StableLab, told Blockworks that the experiment in recognition for active delegates is important for accountability, as delegates who failed to maintain 80% participation would lose the extra votes. 

Wan Nam acknowledged the difficulty in subjectively analyzing whether an active voter is a good voter, though. Are delegates voting flippantly or deeply researching both sides of a proposal? 

“We have to start with something that’s objective,” Wan Nam said. 

The move comes as Uniswap’s voting delegation has been slowly consolidating. A Dune Analytics dashboard shows that in 2023, the number of votes cast per governance proposal has stayed more or less constant while the number of voters participating has generally declined.

Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

Explore the growing intersection between crypto, macroeconomics, policy and finance with Ben Strack, Casey Wagner and Felix Jauvin. Subscribe to the On the Margin newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.


Upcoming Events

Salt Lake City, UT

MON - TUES, OCT. 7 - 8, 2024

Blockworks and Bankless in collaboration with buidlbox are excited to announce the second installment of the Permissionless Hackathon – taking place October 7-8 in Salt Lake City, Utah. We’ve partnered with buidlbox to bring together the brightest minds in crypto for […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Unlocked by Template.png


With the spot ETH ETF approval, the institutions are coming. stETH - given its dominance in marketshare, existing liquid market structures, and highly desirable properties - is poised for institutions.


Launching cryptocurrencies the old fashioned way may soon make a return


Kraken and CertiK brought their beef to social media after Kraken said researchers exploited $3 million through a bug


NVIDIA’s historic run is only deepening the divide between mega-cap tech stocks and the rest of the market.


EIP-7702 was quickly adopted for the next Ethereum upgrade, but developers haven’t quite locked it down