In a bid to reduce the amount of friction in its community governance process, Uniswap DAO has passed a proposal to implement some changes to existing processes. Data from the Snapshot vote reveals that the proposal enjoyed massive support from the community, with approximately 100% of the votes in support.
The current process involves a temperature check, a consensus check, and a governance proposal. The temperature check is to determine if there is sufficient interest from the community in approving a proposal. It begins by asking a general non-biased question about the potential change on the forum, and is accompanied by a 3-day Snapshot poll that requires “a majority vote of 25K UNI yes-vote threshold.” Meanwhile, the consensus check is accompanied by a 5-day Snapshot, with a 50k UNI yes-vote threshold.
The DAO is rolling out changes to both the temperature and consensus checks. For one, the temperature check has been renamed to “Request for Comment.” Furthermore, the 3-day Snapshot off-chain voting requirement has been changed to a minimum of 7 days.
We believe the first phase of the governance process should allow the community to digest a proposal, comment, and ask questions – and not require going through the friction of one of two off-chain votes.
The second phase, which is now the temperature check, will include an off-chain vote to gauge community sentiment prior to the governance vote. For this phase, the DAO will increase the required quorum from 50K to 100M UNI, arguing that it should be “high enough to prevent lower quality proposals from moving to the final phase.”
We believe the 10 million UNI quorum will act as a better signal than the lower quorum requirements in the current process.
As for the on-chain governance vote, no changes were made to this phase, and the proposer must have a minimum of 2.5M UNI delegated to their address.