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Uniswap Agora BETA
Voters
Proposals
Connect Wallet

by gfxlabs.eth


UNISWAP REVITALIZATION AND GROWTH PROPOSAL

Proposed Transactions
0x1f9840a85d5aF5bf1D1762F925BDADdC4201F984
.transfer(
0x3B59C6d0034490093460787566dc5D6cE17F2f9C
549124000000000000000000
)

Forum thread
Temperature checks
Post-Temp check post


TLDR

Uniswap v3 utilized its first mover advantage and achieved dominance on
Ethereum, Arbitrum, Optimism, and Polygon, but on more recent EVM chains has
seen limited market share growth.

The goal of this proposal is to take Uniswap on the offensive by actively
supporting and incentivizing new deployments of Uniswap v3. If successful, we
will be able to grow Uniswap's market share and increase the amount of volume
growing through protocol-owned deployments rather than leaving the opportunity
for more Uni V3 forks to grab market share.

To put Uniswap back in the driver's seat, this proposal creates an Onboarding
Package that the DAO can proactively deploy to new EVMs and invite EVMs to seek
out official Uniswap v3 deployments.


HOW CAN WE INCREASE UNISWAP’S MARKET SHARE?

 * By supporting the latest emerging EVM chains and securing Uniswap a dominant
   position early
   * For example, Monad, Linea, Scroll, Polygon zkEVM, Bera, Taiko, etc
 * By further investing in current deployments where Uniswap is not a dominant
   player
   * For example, Binance Smart Chain, zkSync, Base, etc

Since Uniswap v3 launched, little has been done to drive the growth of any
Uniswap v3 deployments outside of Polygon, Optimism, and Arbitrum. Of which,
each strongly benefited from early mover advantages. Today, there are 13
deployments of Uniswap v3. Many of the new deployments are newer chains that,
while today, don’t have the usage seen on Arbitrum, Polygon, or Optimism, one or
multiple of them will likely grow to be as big or bigger.

On each of these deployments, Uniswap is currently the underdog. We’re competing
against Uniswap v3 & v2 forks and other concentrated liquidity protocols, which
often have more focused resources for marketing and distribution than Uniswap
and often boast close relationships with the chain’s team.

The good news is these chains are still generally nascent. So, if Uniswap acts
quickly, it can take the lead spot and likely hold it thanks to its robust
ecosystem of tooling and support.


INTRODUCING THE ONBOARDING PACKAGE

It is high time we made getting Uniswap v3 on new EVMs easy. The package covers
everything from deployment of contracts, data infrastructure, user interface,
liquidity incentives, and tooling to distribute the incentives. With this
package, the Uniswap DAO can go live on new EVM chains significantly faster.

GFX Labs will handle the deployment of Uniswap v3 core and peripheral contracts,
verifying the contracts, making data available to other ecosystem projects and
players via the Oku API, and integrating the deployment into the Oku trade and
analytics interface. Angle Merkl will handle the distribution of UNI rewards.

Lastly, the Uniswap Accountability Committee will escrow the funds in their
multisig for the packages.


LIQUIDITY INCENTIVES

Liquidity incentives will range between $250k and $1m and be voted in on a
Temperature Check. Incentives will be distributed in UNI over three months. Once
the three months are completed, delegates should look at the remaining liquidity
and Uniswap's market share position to gauge the program's success. Overall, the
program is meant get Uniswap's foot in the door and secure a stronger brand
position on the chain.

The package will target 3-5 pools. Generally, mainstays like ETH/USDC, ETH/BTC,
USDC/USDT, and one or two key local pairs. For example, MATIC/ETH on Polygon.


PRICING

 * For Oku to support a new chain, it’s $45k for the initial integration and
   $5k/month for 12 months. This covers deploying the contracts, getting the new
   chain onto the frontend, the Oku API (free), our onchain limit order
   functionality, our cloud costs for hosting the API, our global system for
   quoting, node requests, and DevOps maintenance.
   * Oku currently supports 11 chains. Any of the current chains or chains that
     we're already in the process of adding to the frontend do not necessitate
     an additional cost. Oku only charges for new deployments requested by the
     DAO.
 * Angle Merkl has a one-time setup fee of €20k for going to a chain that they
   do not support. For chains they do support, but don't have Uniswap configured
   for the have a one-time setup fee of €10k. Supported chains
   * Merkl charges 3% on funds distributed using their tool. They have offered a
     25% discount on their base 3% fee for incentives distributed between
     $2.5m-$5m, a 50% discount on incentives distributed between $5m-$10m, and a
     75% discount on all incentives above $10m in a 365-day period.


FIRST ROUND OF ONBOARDING PACKAGES

The initial Temperature Checks ended two weeks ago. For links to them, go here.
For the Post-Temp check summary, go here.

This onchain proposal funds the following Onboarding Packages. For pool and
allocation info click here.

 1. Linea: $250k (w/Oku + Merkl)
 2. Scroll: $250k (w/Merkl)
 3. Polygon zkEVM: $250k (w/Merkl - UniV3 only)
 4. zkSync: $500k (w/Merkl)
 5. Blast: $500k (w/Oku + Merkl)
 6. Base: $500k (w/Merkl)
 7. BSC: $1m (w/Merkl)
 8. Mantle: $250k (w/Oku + Merkl)

Based on a UNI price of $7.42 and a EUR/USD price of $1.08, the image below
shows the investment the DAO will make by approving this proposal.


The Uniswap Accountability Committee Multisg will receive the UNI, and Oku/GFX
and the Angle team will work closely with them to get the infrastructure setup
and incentives rolling on each of these chains.


CONCLUSION

If this proposal is approved, when a new chain wants a deployment, we can offer
this package and roll it out as part of the governance proposal. This would end
the current status of rubber-stamping deployment proposals and provide a reason
for new chains to seek the support of Uniswap governance proactively.

Uniswap could quickly take the lead on 5-10 chains through this initiative. If
one of these chains grows into a major player (like Arb/Op/Poly), it will have
paid for the entire program multiple times over (assuming the fee switch is
someday turned).

Providing a modest onboarding package helps Uniswap diversify and develop new
markets without waiting to see which chains become long-term relevant - at which
point it is often too late or too costly to get market share.

Proposals
Prop 59
Uniswap Revitalization and Growth Proposal
by gfxlabs.eth
 • 
executed

FOR 55.247M UNI
AGAINST 3.0041M UNI

QUORUM 40M UNI
VOTE ENDED 2 months ago
0x89...d429
 voted for
7.034M UNI
gauntletgov.eth
 voted for
5.2511M UNI
teemulaumhonkasalo.eth
 voted for
5.0001M UNI
michiganblockchain.eth
 voted for
3.8524M UNI
monetsupply.eth
 voted for
3.3022M UNI
0x06...4A76
 voted for
3.102M UNI

There are improvements I'd like to see on this proposal but overall I am supporting it because I believe in instigating action and the value flowing from that. 

0x07...961b
 voted for
3.0006M UNI
she256.eth
 voted for
2.5008M UNI
gov.avantgardefi.eth
 voted for
2.5005M UNI
wintermutegovernance.eth
 voted for
2.5002M UNI
stablelab.eth
 voted against
2.5M UNI
blockchaincolumbia.eth
 voted for
2.5M UNI
pgov.eth
 voted for
2.5M UNI
404gov.eth
 voted for
2.5M UNI
0x21...6DB5
 voted for
2.5M UNI
blockchainedu.eth
 voted for
2.5M UNI
gfxlabs.eth
 voted for
2.4471M UNI
governance.karpatkey.eth
 voted for
836.21K UNI
0xkeyrock.eth
 voted against
504.03K UNI
atiselsts.eth
 voted for
406.69K UNI
0xeD...aeAF
 voted for
251.01K UNI
blockworksres.eth
 voted for
250.32K UNI
delegate.l2beat.eth
 voted for
250.01K UNI

https://gov.uniswap.org/t/uniswap-revitalization-and-growth/22616/66?u=kaereste

nathanvdh.eth
 voted for
250K UNI
gekko.eth
 voted for
5.0104K UNI
refri.eth
 voted for
1.0018K UNI
0xbE...6c54
 voted for
998.56 UNI
0xF5...db32
 voted for
450.84 UNI
ledgercryptonft.eth
 voted for
432.64 UNI
0x13...D517
 voted for
424.27 UNI

Not open to voting