Uniswap Governance

Summary: Dear Uniswap community, About a week ago we (the Blockchain at Michigan in partnership with the Celo Foundation and the Celo Climate Collective) submitted a proposal to deploy Uniswap V3 on Celo to launch “Green Asset” Liquidity Pools and expand access to Uniswap to the 6B smartphone users around the world. We initiated the Temperature Check on Snapshot, where the proposal received strong support from the Uniswap community. 12M UNI (~100%) voted yes for the proposal. We’re excited to initiate the Consensus Check phase. We’d love to receive your support in this proposal. NOTE: Based on community feedback we’re also adding the following items to provide more information on a few items: Approximately one-third of the $10M of financial incentives to Uniswap users for green asset pools will be placed in a multisig with the Celo Foundation and 2-4 key members of the Uniswap community, including both individuals and institutions. This is to serve as a good faith deposit and demonstrate the Celo Foundation’s commitment to the Uniswap community, while also ensuring financial flexibility for the Celo Foundation. In the past, the Celo Foundation has ensured that promised rewards have been paid out (e.g. Sushi) and the plan is to continue doing so. Uniswap V3 will be deployed on Celo by the Celo community through the “Deploy Uniswap V3 Script.” contingent upon approval by the Uniswap community via an Additional Use Grant (license change enacted via the ENS domain uniswap.eth). Governance at deployment will be facilitated by messaging bridge Optics Robert Leifke and Kyle Scott, members of Blockchain at Michigan, are co-founders of Mobius, a Celo stableswap protocol. To avoid any conflicts of interest, they have had no involvement in this partnership between Blockchain at Michigan and the Celo Foundation. Temperature check discussion Updated Proposal discussion Topic: Deploy Uniswap V3 on Celo to Launch “Green Asset” Liquidity Pools and expand access to Uniswap to the 6B smartphone users around the world Description: In partnership with the Celo Foundation and the Celo Climate Collective, we propose to authorize the deployment of the Uniswap protocol to Celo on behalf of the community. Celo is a mobile-first, carbon-negative, EVM-compatible blockchain. Specifically, we propose launching Uniswap on the Celo platform to: Increase Uniswap’s influence through $10M in financial incentives to Uniswap users, as well as additional grant funding provided by the Celo Foundation to utilize Uniswap as a financial building block Bring Uniswap V3’s increased capital efficiency to the 6B smartphone users around the world Create green asset liquidity pools with natural capital backed assets such as tokenized carbon credits (e.g. MCO2 and TCO2) and future nature backed assets issued on Celo like land and forests Use Uniswap as a decentralized mechanism to rebalance the Celo Reserve with nature backed assets rather than relying on centralized exchanges Foster pathways for future green use cases on Uniswap Overall, we believe the Uniswap community’s mission of creating a trustless and decentralized financial infrastructure accessible to anyone aligns with Celo’s vision of tackling climate change and achieving prosperity for all. About Celo: Celo’s mission is to build an open financial system that creates the conditions of prosperity for all. To execute this mission, Celo’s technology features include: A mobile-first EVM-compatible layer 1 blockchain that is accessible to anyone with a smartphone Carbon negative by allocating 0.1% of epoch rewards to offset carbon—to date, 2,942 tons of carbon has been offset, which is over 8 times Celo’s carbon footprint Algorithmic Celo stablecoins (currently cUSD, cEUR, and cREAL) with a smart-contract based expansion and contraction platform called Mento An overcollateralized basket of crypto assets called the Celo reserve, currently made up of CELO, the network’s native asset, as well as BTC, ETH, DAI, and MCO2 Celo is one of the fastest growing DeFi ecosystems with 2.6M addresses, up to 1.1M daily transactions, and over 103M transactions. Additionally, Celo has been chosen by Kickstarter for its upcoming decentralized product (to date, Kickstarter has successfully supported over 214,000 projects with over $6B in funding and 20M backers) which will attract new users to the ecosystem The Celo Reserve includes almost $1M of MCO2 tokens, and Celo community members have proposed to add more natural capital assets moving forward as part of the Climate Collective. By including more natural capital assets, the Celo community has the vision of creating natural capital backed currencies. If, as a society, we were to denominate our economic activity in natural capital backed currencies, any economic growth—increase in money circulation—would lead to a growth in preserved natural resources. Celo aims to be the layer 1 blockchain for natural capital assets, and Uniswap can be the natural capital DEX for these assets on Celo. Proposal Blockchain technology can help address limit greenhouse gas emissions and promote sustainable practices by tokenizing carbon-sequestering assets such as rainforests. Those tokenized assets can then be purchased by individuals and businesses to democratize carbon offsetting and increase funding for environmental protection projects. We believe that together, Uniswap and Celo can lead the path to growing natural capital assets. Uniswap on the Celo platform will: Allow for the launch of green asset liquidity pools: With the launch of the Climate Collective, Celo community members proposed to allocate up to 40% of the reserve over time towards natural capital backed assets. A natural capital backed asset (also known as “green” or “regenerative finance” asset) is a tokenized representation of natural assets in the “real” world. An example of a green asset is a non-fungible carbon-negative initiative quantified in terms of fungible CO2 sequestered (e.g. tokenized carbon credits). Advance the use of natural capital backed currencies: The Celo Reserve grows as demand for Celo stable currencies grows. And as the reserve grows, so does the allocation towards green assets. This creates a feedback mechanism: with increased adoption of Celo stable currencies the reserve programmatically generates demand for additional green assets, preserving rainforests, and other carbon-sequestering assets. Use Uniswap as a decentralized mechanism to rebalance the reserve: The Celo reserve will not only need to rebalance its BTC, ETH, etc. holdings but also a variety of natural capital backed assets, such as tokenized land, forests, and carbon credits. If approved by Celo’s community governance, a 40% allocation at current reserve values would correspond to natural capital assets worth 200M USD held by the reserve alone, requiring an efficient and liquid trading counterpart. Currently, the reserve rebalances via centralized exchanges. Green assets are not held by centralized exchanges, and so a decentralized exchange is needed in order to rebalance the Celo reserve as demand for stable currencies increases. Increase capital efficiency: Uniswap v3’s concentrated liquidity mechanism will be especially important for Celo’s stablecoins that trade within a small price range. Create pathways for future green use cases: Market participants are actively exploring other use cases on Celo. A list of current projects is available on https://climatecollective.org/. The Celo Foundation will commit $10M of CELO in Uniswap-specific user incentives & grants on Celo. The Celo Foundation has successfully delivered committed rewards in the past (e.g. Sushi) and intends to do so in this instance as well. As a good faith deposit, approximately one-third of the $10M of financial incentives to Uniswap users for green asset pools will be placed in a multisig with the Celo Foundation and 2-4 key members of the Uniswap community, including both individuals and institutions. The $10M of financial incentives to Uniswap users for green asset pools will be placed in a multisig with the Celo Foundation and 2-4 key and active members of the Uniswap community including both individuals and institutions. In addition to the $10M in financial incentives for Uniswap specifically, the Celo Foundation will also focus on broader adoption of natural capital backed currencies and link this to ongoing efforts to making DeFi and crypto more accessible to the 6B smartphone users around the world through the following: Promote the development of a mobile-first ecosystem through developer programs such as hackathons with Uniswap as a financial building block Lead pilots and users research to help make Uniswap more accessible, especially in markets that lack access to basic financial tools and services. Co-grant program to support projects that are launching and driving the growth of “green assets” Uniswap V3 will be deployed on Celo by cLabs through the “Deploy Uniswap V3 Script.” contingent upon approval by the Uniswap community via an Additional Use Grant (license change enacted via the ENS domain uniswap.eth). Governance at deployment will be facilitated by the messaging bridge Optics. We propose a transparent measurement of this project's success through the following success criteria and long-term goals: % of Celo Reserve allocated to green assets: 40% of the Celo Reserve (at current Celo Reserve levels this would correspond to $200M USD in green assets) $ total TVL and TVL of associated green assets: 10x of Celo Reserve green asset holdings in circulation as LP Impact of green assets in Celo Reserve: 17M tons of CO2 avoided or removed from the atmosphere (assuming an average price of $12 per ton and current Celo Reserve levels) , including all associated benefits (e.g. increase in biodiversity through protection of forests). This corresponds roughly to the annual absorption capacity of 1.7M hectares of forest area, or roughly the amount of forest area lost in Brazil in 2020. Conclusion Celo and Uniswap together can serve as the foundation for the proliferation of natural capital assets across Web3. We believe that the vision to advance climate and regenerative finance on Celo aligns with the Uniswap community. Thank you for your consideration and we welcome questions and suggestions. Temperature check discussion Temperature check snapshot

Proposal Discussion Topic This proposal is created on behalf of Blockchain at Michigan, and in partnership with the Celo Foundation and the Celo Climate Collective. Deploy Uniswap V3 on Celo to Launch “Green Asset” Liquidity Pools and expand access to Uniswap to the 6B smartphone users around the world Description We propose to authorize the deployment of the Uniswap protocol to Celo on behalf of the community. Celo is a mobile-first, carbon-negative, EVM-compatible blockchain. Specifically, we propose launching Uniswap on the Celo platform to: Increase Uniswap’s influence through $10M in financial incentives to Uniswap users, as well as additional grant funding provided by the Celo Foundation to utilize Uniswap as a financial building block Bring Uniswap V3’s increased capital efficiency to the 6B smartphone users around the world Create green asset liquidity pools with natural capital backed assets such as tokenized carbon credits (e.g. MCO2 and TCO2) and future nature backed assets issued on Celo like land and forests Use Uniswap as a decentralized mechanism to rebalance the Celo Reserve with nature backed assets rather than relying on centralized exchanges Foster pathways for future green use cases on Uniswap Overall, we believe the Uniswap community’s mission of creating a trustless and decentralized financial infrastructure accessible to anyone aligns with Celo’s vision of tackling climate change and achieving prosperity for all. About Celo Celo’s mission is to build an open financial system that creates the conditions of prosperity for all. To execute this mission, Celo’s technology features include: A mobile-first EVM-compatible layer 1 blockchain that is accessible to anyone with a smartphone Carbon negative by allocating 0.1% of epoch rewards to offset carbon—to date, 2,942 tons of carbon has been offset, which is over 8 times Celo’s carbon footprint Algorithmic Celo stablecoins (currently cUSD, cEUR, and cREAL) with a smart-contract based expansion and contraction platform called Mento An overcollateralized basket of crypto assets called the Celo reserve, currently made up of CELO, the network’s native asset, as well as BTC, ETH, DAI, and MCO2 Celo is one of the fastest growing DeFi ecosystems with 2.6M addresses, up to 1.1M daily transactions, and over 103M transactions. Additionally, Celo has been chosen by Kickstarter for its upcoming decentralized product (to date, Kickstarter has successfully supported over 214,000 projects with over $6B in funding and 20M backers) which will attract new users to the ecosystem The Celo Reserve includes almost $1M of MCO2 tokens, and Celo community members have proposed to add more natural capital assets moving forward as part of the Climate Collective. By including more natural capital assets, the Celo community has the vision of creating natural capital backed currencies. If, as a society, we were to denominate our economic activity in natural capital backed currencies, any economic growth—increase in money circulation—would lead to a growth in preserved natural resources. Celo aims to be the layer 1 blockchain for natural capital assets, and Uniswap can be the natural capital DEX for these assets on Celo. Proposal Blockchain technology can help address limit greenhouse gas emissions and promote sustainable practices by tokenizing carbon-sequestering assets such as rainforests. Those tokenized assets can then be purchased by individuals and businesses to democratize carbon offsetting and increase funding for environmental protection projects. We believe that together, Uniswap and Celo can lead the path to growing natural capital assets. Uniswap on the Celo platform will: Allow for the launch of green asset liquidity pools: With the launch of the Climate Collective, Celo community members proposed to allocate up to 40% of the reserve over time towards natural capital backed assets. A natural capital backed asset (also known as “green” or “regenerative finance” asset) is a tokenized representation of natural assets in the “real” world. An example of a green asset is a non-fungible carbon-negative initiative quantified in terms of fungible CO2 sequestered (e.g. tokenized carbon credits). Advance the use of natural capital backed currencies: The Celo Reserve grows as demand for Celo stable currencies grows. And as the reserve grows, so does the allocation towards green assets. This creates a feedback mechanism: with increased adoption of Celo stable currencies the reserve programmatically generates demand for additional green assets, preserving rainforests, and other carbon-sequestering assets. Use Uniswap as a decentralized mechanism to rebalance the reserve: The Celo reserve will not only need to rebalance its BTC, ETH, etc. holdings but also a variety of natural capital backed assets, such as tokenized land, forests, and carbon credits. If approved by Celo’s community governance, a 40% allocation at current reserve values would correspond to natural capital assets worth 200M USD held by the reserve alone, requiring an efficient and liquid trading counterpart. Currently, the reserve rebalances via centralized exchanges. Green assets are not held by centralized exchanges, and so a decentralized exchange is needed in order to rebalance the Celo reserve as demand for stable currencies increases. Increase capital efficiency: Uniswap v3’s concentrated liquidity mechanism will be especially important for Celo’s stablecoins that trade within a small price range. Create pathways for future green use cases: Market participants are actively exploring other use cases on Celo. A list of current projects is available on https://climatecollective.org/. The Celo Foundation will commit $10M of CELO in Uniswap-specific user incentives & grants on Celo. In addition to the $10M in financial incentives for Uniswap specifically, the Celo Foundation will also focus on broader adoption of natural capital backed currencies and link this to ongoing efforts to making DeFi and crypto more accessible to the 6B smartphone users around the world through the following: Promote the development of a mobile-first ecosystem through developer programs such as hackathons with Uniswap as a financial building block Lead pilots and users research to help make Uniswap more accessible, especially in markets that lack access to basic financial tools and services. Co-grant program to support projects that are launching and driving the growth of “green assets” We propose a transparent measurement of this project's success through the following success criteria and long-term goals: % of Celo Reserve allocated to green assets: 40% of the Celo Reserve (at current Celo Reserve levels this would correspond to $200M USD in green assets) $ total TVL and TVL of associated green assets: 10x of Celo Reserve green asset holdings in circulation as LP Impact of green assets in Celo Reserve: 17M tons of CO2 avoided or removed from the atmosphere (assuming an average price of $12 per ton and current Celo Reserve levels) , including all associated benefits (e.g. increase in biodiversity through protection of forests). This corresponds roughly to the annual absorption capacity of 1.7M hectares of forest area, or roughly the amount of forest area lost in Brazil in 2020. Conclusion Celo and Uniswap together can serve as the foundation for the proliferation of natural capital assets across Web3. We believe that the vision to advance climate and regenerative finance on Celo aligns with the Uniswap community. Thank you for your consideration and we welcome questions and suggestions.

Summary Nomic Labs, the team behind Hardhat, has become the Nomic Foundation, a non-profit organization dedicated to Ethereum. Our mission is to empower developers to decentralize the world. The Nomic Foundation’s work will be focused on Ethereum’s developer platform with the objective of achieving a world-class developer experience, and generally improving Ethereum’s public goods support structures. Hardhat is the de facto standard developer tool used to build Ethereum software, with more than 23000 Github repositories using it and tens of thousands of active users. Prominent teams relying on it include ENS, Uniswap, Optimism, OpenZeppelin, Aave, Balancer, Chainlink, Synthetix, and many more leading teams. The new foundation will expand the Hardhat suite of tools and, most importantly, build long-term infrastructure to catalyze organic growth in the Ethereum tooling ecosystem, decreasing Ethereum’s dependence on any one organization to build and maintain core development platform components. Seeking $30m in total funding from the ecosystem. Donations of $15M already secured by the Ethereum Foundation, Vitalik Buterin, Coinbase, a16z, The Graph, Polygon, Chainlink, a16z, and Kaszek Ventures. We’re proposing to Uniswap Governance to make a contribution of $5m to the Nomic Foundation to support its mission. Nomic Foundation Nomic Labs has been fully dedicated to Ethereum developer experience since 2019, and we’re now pivoting to a non-profit foundation formally dedicated to Ethereum. We’re aiming to build a long-lasting organization that makes Ethereum’s public goods support structures stronger by contributing to the Ethereum Foundation’s existing efforts, and reducing the ecosystem’s reliance on any one organization for development platform components. Roadmap Given the size and innovation pace of the ecosystem, there’s no way to foresee exactly what needs developers are going to have as things scale. However, we do know what engineering foundations the ecosystem will need in order to build its own solutions. Our overarching engineering strategy is to empower the ecosystem to build its own specialized tools. This plan is based on four strategic pillars of the stack, each of which offers an opportunity to leverage a platform to empower the ecosystem to keep building open-source infrastructure. For each of these pillars, we will build a platform. The four ecosystem pillars and platform opportunities we’ve identified are: 1. Solidity 2. EVM tooling 3. Local development environment 4. Ethereum connector library The projects Slang & Rethnet Over the long term, these are our most important projects. Targeting the Solidity and EVM tooling pillars, Slang and Rethnet will serve as core infrastructure for the ecosystem to build new tools faster, cheaper, and better. We’re essentially building the tools that would have let us build Hardhat a lot faster. We previously published a Medium post with high-level descriptions of how both projects will complement each other. Slang A Solidity compiler designed as a platform for tooling development, an approach also known as compiler as a service. Its top priority will be servicing tools through domain-specific APIs. Much like .Net’s Roslyn, it will feature a compilation pipeline made of distinct reusable components with standalone APIs. A completely modular design guarantees that others can build on top of it by replacing the part of functionality they need to, and reusing everything else: 1. Parser that is only concerned with producing trees from code. Usable on its own, for example, to create third-party formatters like Prettier plugins. 2. Semantic analysis (binding) is concerned only with building a type system and validating the produced trees. Usable on its own, to implement third-party type checking, security/threat models, and more advanced third-party linting. 3. Code generation. By replacing just this isolated part, the compiler can compile for different targets (e.g. non-EVM L2s). 4. Language services. These will receive an immutable representation of the above (syntax trees, bound trees, codegen settings), and will only be tasked with answering questions. Usable on its own to expose in different IDEs (same service for VSCode, IntelliJ, Vim, etc). Reusable to extend the functionality of other editor features (task runners, testing, deployment, CI, debugging). 5. Runtime observation APIs to support Rethnet. All of this will be reusable to create entirely new EVM programming languages, since by replacing the parser and type system, one can get an entire high-quality toolchain working from the get-go. Rethnet To provide a simulated environment where developers can build and test their Ethereum software, tools need to replicate many of the components that make up a full Ethereum node implementation. This is a significant engineering effort, which given the complexity of Ethereum, represents a barrier to entry to tooling development given the depth of knowledge that is required. Rethnet aims to make this easier by offering a native, flexible, extensible, fast, and language-agnostic EVM local development network, distributed as a Rust library, that is designed to be the underlying core in tools that provide debugging information to developers (like Hardhat, Foundry, Remix, Truffle, DappTools, etc). It will be a Rust library made to be consumed from other languages like TypeScript, Go, Python, etc as a native dependency. It will implement the baseline of essential functionality every tool should have like Solidity console.log, stack traces, and descriptive error messages, as well as implement code coverage, gas profiling, and a step debugger. At its core, it’s an implementation of an Ethereum node with a layer of EVM runtime observation to provide development features. Building a new Hardhat, Truffle, Remix, or DappTools using Rethnet will be a much more manageable project, and Rethnet will be completely reusable for any EVM language through adapters. Hardhat Our flagship project targets the local development environment pillar, and it’s currently at an advanced level of progress and adoption. While Slang and Rethnet mature and catalyze organic growth in the tooling space, developers still have needs to be met, positioning Hardhat as our immediate-term solution to empower developers to keep decentralizing the world. Hardhat is an Ethereum development environment that developers use to compile, deploy, test, and debug Ethereum software. Most importantly, it’s highly flexible, extensible, and designed to empower the community to build their own solutions. This strategy has been successful, and there’s already a valuable ecosystem of reusable plugins. Hardhat’s roadmap is focused on becoming an extensible development environment with deep integrations across components in key areas of the tooling stack: Hardhat VSCode — programming editor Hardhat Ignition — contract deployment Hardhat Network — local development network Hardhat Runner — build/testing workflow This roadmap leads to developers being well equipped to build powerful extensions to their workflow that increase their productivity according to their exact needs, and to then share them with the ecosystem in the form of plugins. Hardhat will also eventually migrate to using Rethnet and Slang, increasing its feature richness, speed, and stability while enabling dogfooding at scale for our brand new building blocks. Web3.js as a frontend platform The OG Ethereum connector library, Web3.js, is being revitalized into a high-value project. By focusing on community and ecosystem growth, supported by an extensible architecture, it can become a great source of value, much like React represents in the front-end world, but for dapps. A website hub connecting community spaces, support spaces, educational resources, extensions, and related projects, combined with an active ecodev effort (workshops, talks, contests, and incentives), will create a source of leverage for the ecosystem. This will provide better troubleshooting, faster developer training, more reusable code, and, most importantly, the possibility of extending the library. This effort is currently spearheaded by the ChainSafe team. Funding The Nomic Foundation aims to benefit the entire Ethereum ecosystem, which is why we’re fundraising across multiple organizations and individuals within it. The Ethereum Foundation is leading this round of contributions with $8M, alongside contributions from Vitalik Buterin, Coinbase, Consensys, The Graph, Polygon, Chainlink, Gnosis, a16z, a_capital, and Kaszek Ventures. These donors make up $15M, and we’re aiming to raise $15M more. Why Uniswap? Generally, we think that allocating capital to the Nomic Foundation makes strategic sense for any protocol treasury that is aligned long term with the growth of Ethereum, and we’ve approached and will continue approaching several protocols. Currently, Uniswap is built using Hardhat. While this is a signal of Hardhat’s value, the projects that the Nomic Foundation will deliver will create more value not just for Uniswap, but for the entire ecosystem. We’ll provide services to the Ethereum community that will: 1. Continue the maintenance of critical infrastructure used to build most protocols (Hardhat). 2. Increase developer productivity for every team in the ecosystem. 3. Accelerate developer onboarding to Ethereum, increasing the size of the experienced engineering hiring pool and making time-to-productivity shorter for new hires. 4. Accelerate the pace of innovation and the number of products being built. 5. Increase market volume driven by new users and new products. We believe this grows the market for everyone, including Uniswap, and we’d love to have the Uniswap DAO contribute $5m in funding to this community effort .

Summary Nomic Labs, the team behind Hardhat, has become the Nomic Foundation, a non-profit organization dedicated to Ethereum. Our mission is to empower developers to decentralize the world. The Nomic Foundation's work will be focused on Ethereum's developer platform with the objective of achieving a world-class developer experience, and generally improving Ethereum's public goods support structures. Hardhat is the de facto standard developer tool used to build Ethereum software, with more than 23000 Github repositories using it and tens of thousands of active users. Prominent teams relying on it include ENS, Uniswap, Optimism, OpenZeppelin, Aave, Balancer, Chainlink, Synthetix, and many more leading teams. The new foundation will expand the Hardhat suite of tools and, most importantly, build long-term infrastructure to catalyze organic growth in the Ethereum tooling ecosystem, decreasing Ethereum's dependence on any one organization to build and maintain core development platform components. Seeking $30m in total funding from the ecosystem. Donations of $15M already secured by the Ethereum Foundation, Vitalik Buterin, Coinbase, a16z, The Graph, Polygon, Chainlink, a16z, and Kaszek Ventures. We're proposing to Uniswap Governance to make a contribution of $5m to the Nomic Foundation to support its mission. Ethereum developer experience When it comes to Ethereum, which is primarily a software development platform to build decentralized systems, developer experience is a key strategic aspect for success. Ecosystem growth requires more developers to build more software on top of Ethereum. Developer adoption and learning speed, core contributors to this growth, are critically affected by developer experience. The rate at which the ecosystem innovates, coming up with new creations and solving difficult problems, both at the dapp layer and EVM/Solidity/Vyper layer, is also directly affected by developer productivity. Software development platforms aren't new, and playbooks established by the great developer experience success stories (Rust, .Net, TypeScript, etc) prove that achieving a quality developer experience requires a specialized approach paired with a long-term, big-picture strategy. The potential impact in executing a dedicated effort for Ethereum would increase the ecosystem’s pace of innovation and growth, building a powerful compounding effect over the long term for the entire industry. The inspiration for our vision came from our experience building Hardhat, which allowed us to see how deeply challenging it is to build sophisticated Ethereum tooling. These challenges must be alleviated to bring about organic ecosystem-led improvement of developer experience that achieves world-class quality. Nomic Foundation Nomic Labs has been fully dedicated to Ethereum developer experience since 2019, and we're now pivoting to a non-profit foundation formally dedicated to Ethereum. We're aiming to build a long-lasting organization that makes Ethereum's public goods support structures stronger by contributing to the Ethereum Foundation's existing efforts, and reducing the ecosystem's reliance on any one organization for development platform components. Roadmap Given the size and innovation pace of the ecosystem, there's no way to foresee exactly what needs developers are going to have as things scale. However, we do know what engineering foundations the ecosystem will need in order to build its own solutions. Our overarching engineering strategy is to empower the ecosystem to build its own specialized tools. This plan is based on four strategic pillars of the stack, each of which offers an opportunity to leverage a platform to empower the ecosystem to keep building open-source infrastructure. For each of these pillars, we will build a platform. The four ecosystem pillars and platform opportunities we've identified are: 1. Solidity 2. EVM tooling 3. Local development environment 4. Ethereum connector library The projects Slang & Rethnet Over the long term, these are our most important projects. Targeting the Solidity and EVM tooling pillars, Slang and Rethnet will serve as core infrastructure for the ecosystem to build new tools faster, cheaper, and better. We're essentially building the tools that would have let us build Hardhat a lot faster. We previously published a Medium post with high-level descriptions of how both projects will complement each other. Slang A Solidity compiler designed as a platform for tooling development, an approach also known as compiler as a service. Its top priority will be servicing tools through domain-specific APIs. Much like .Net's Roslyn, it will feature a compilation pipeline made of distinct reusable components with standalone APIs. A completely modular design guarantees that others can build on top of it by replacing the part of functionality they need to, and reusing everything else: 1. Parser that is only concerned with producing trees from code. Usable on its own, for example, to create third-party formatters like Prettier plugins. 2. Semantic analysis (binding) is concerned only with building a type system and validating the produced trees. Usable on its own, to implement third-party type checking, security/threat models, and more advanced third-party linting. 3. Code generation. By replacing just this isolated part, the compiler can compile for different targets (e.g. non-EVM L2s). 4. Language services. These will receive an immutable representation of the above (syntax trees, bound trees, codegen settings), and will only be tasked with answering questions. Usable on its own to expose in different IDEs (same service for VSCode, IntelliJ, Vim, etc). Reusable to extend the functionality of other editor features (task runners, testing, deployment, CI, debugging). 5. Runtime observation APIs to support Rethnet. All of this will be reusable to create entirely new EVM programming languages, since by replacing the parser and type system, one can get an entire high-quality toolchain working from the get-go. Rethnet To provide a simulated environment where developers can build and test their Ethereum software, tools need to replicate many of the components that make up a full Ethereum node implementation. This is a significant engineering effort, which given the complexity of Ethereum, represents a barrier to entry to tooling development given the depth of knowledge that is required. Rethnet aims to make this easier by offering a native, flexible, extensible, fast, and language-agnostic EVM local development network, distributed as a Rust library, that is designed to be the underlying core in tools that provide debugging information to developers (like Hardhat, Foundry, Remix, Truffle, DappTools, etc). It will be a Rust library made to be consumed from other languages like TypeScript, Go, Python, etc as a native dependency. It will implement the baseline of essential functionality every tool should have like Solidity console.log, stack traces, and descriptive error messages, as well as implement code coverage, gas profiling, and a step debugger. At its core, it's an implementation of an Ethereum node with a layer of EVM runtime observation to provide development features. Building a new Hardhat, Truffle, Remix, or DappTools using Rethnet will be a much more manageable project, and Rethnet will be completely reusable for any EVM language through adapters. Hardhat Our flagship project targets the local development environment pillar, and it's currently at an advanced level of progress and adoption. While Slang and Rethnet mature and catalyze organic growth in the tooling space, developers still have needs to be met, positioning Hardhat as our immediate-term solution to empower developers to keep decentralizing the world. Hardhat is an Ethereum development environment that developers use to compile, deploy, test, and debug Ethereum software. Most importantly, it's highly flexible, extensible, and designed to empower the community to build their own solutions. This strategy has been successful, and there's already a valuable ecosystem of reusable plugins. Hardhat's roadmap is focused on becoming an extensible development environment with deep integrations across components in key areas of the tooling stack: Hardhat VSCode — programming editor Hardhat Ignition — contract deployment Hardhat Network — local development network Hardhat Runner — build/testing workflow This roadmap leads to developers being well equipped to build powerful extensions to their workflow that increase their productivity according to their exact needs, and to then share them with the ecosystem in the form of plugins. Hardhat will also eventually migrate to using Rethnet and Slang, increasing its feature richness, speed, and stability while enabling dogfooding at scale for our brand new building blocks. Web3.js as a frontend platform The OG Ethereum connector library, Web3.js, is being revitalized into a high-value project. By focusing on community and ecosystem growth, supported by an extensible architecture, it can become a great source of value, much like React represents in the front-end world, but for dapps. A website hub connecting community spaces, support spaces, educational resources, extensions, and related projects, combined with an active ecodev effort (workshops, talks, contests, and incentives), will create a source of leverage for the ecosystem. This will provide better troubleshooting, faster developer training, more reusable code, and, most importantly, the possibility of extending the library. This effort is currently spearheaded by the ChainSafe team. Funding The Nomic Foundation aims to benefit the entire Ethereum ecosystem, which is why we’re fundraising across multiple organizations and individuals within it. The Ethereum Foundation is leading this round of contributions with $8M, alongside contributions from Vitalik Buterin, Coinbase, Consensys, The Graph, Polygon, Chainlink, Gnosis, a16z, a_capital, and Kaszek Ventures. These donors make up $15M, and we're aiming to raise $15M more. Why Uniswap? Generally, we think that allocating capital to the Nomic Foundation makes strategic sense for any protocol treasury that is aligned long term with the growth of Ethereum, and we've approached and will continue approaching several protocols. Currently, Uniswap is built using Hardhat. While this is a signal of Hardhat’s value, the projects that the Nomic Foundation will deliver will create more value not just for Uniswap, but for the entire ecosystem. We’ll provide services to the Ethereum community that will: 1. Continue the maintenance of critical infrastructure used to build most protocols (Hardhat). 2. Increase developer productivity for every team in the ecosystem. 3. Accelerate developer onboarding to Ethereum, increasing the size of the experienced engineering hiring pool and making time-to-productivity shorter for new hires. 4. Accelerate the pace of innovation and the number of products being built. 5. Increase market volume driven by new users and new products. We believe this grows the market for everyone, including Uniswap, and we’d love to have the Uniswap DAO contribute $5m in funding to this community effort.

Should the UNI governance allocate 0.3 – 1 M UNI to fund an organization to oversee and manage the application of the fee switch mechanism on Uniswap V3 and V2 protocols?

Following the discussion the Uniswap community had during the community call 20 we came to conclusion that community likes this idea. However the technicalities of the execution itself are something to be discussed. If you check the unicode adoption website adopting a character can only be done via credit card. This means funds we raise need to be converted to FIAT and only then a payment can be made. Approaches we discussed are: 1) Someone we trust in the community creates an address and everyone in the community can donate to that address. That person will then make a donation using credit card and they will be reimbursed with crypto assets we raise. 2) Several members create a multisig and process is pretty much the same as 1) 3) We utilize a PartyDAO (https://www.partybid.app/) where either individual or several members put up an NFT for sale. If we reach a target and NFT is sold that funds can then be used in similar way as 1) and 2) 4) Trusted member of the community makes a grant proposal to the UGP (https://www.unigrants.org/) During the community call it was agreed that BOR4 (myself) will make this vote on snapshot. PS if you don't have UNI delegated to you but you are still interested in participating you can also leave a comment on gov forum and we will take this feedback also in the account.

Dear Uniswap community, Since our initial proposal submission 9 days ago to bring Uniswap V3 technology to Harmony, we have seen an extremely positive response from both the Harmony and Uniswap communities. We have integrated community feedback and compiled a revised proposal and have posted it on the Uniswap governance forum: https://gov.uniswap.org/t/temperature-check-deploy-uniswap-v3-on-harmony-through-an-additional-use-grant-to-hermes-defi/16128 In summary, Hermes DeFi is requesting an Additional Use grant from Uniswap to deploy Uniswap V3 based smart contracts to power a new AMM/DEX on the Harmony blockchain. In exchange for this permission, the Uniswap DAO will receive: 1. A 10% allocation of HERMES tokens 2. 25% of platform trading fees, returned as IRIS (decreasing 5% each year for the next 5 years) 3. 50% of platform trading fees for the IRIS/1UNI pair, which will have a dedicated farm for the foreseeable future. 4. 2% of IRIS supply (governance token of Hermes). 5. Lending and borrowing support for 1UNI upon the launch of our lending market. 6. The ability to bond 1UNI to earn HERMES as a mechanism of protocol-owned liquidity.

Dear Uniswap Community, A few weeks ago, Voltz submitted a proposal to request for an “Additional Use Grant” from the Uniswap Community. This would allow Voltz to use aspects of the v3 code that is subject to a “Business Source License”. Voltz recognises the significant R&D that went into v3 and as a result is offering Uniswap Governance 1% of Voltz future tokens, alongside a number of non-financial benefits. The full proposal is available here https://gov.uniswap.org/t/should-uniswap-provide-voltz-with-v3-additional-use-grant/15669?u=simonj We were delighted and humbled by the response from the Uniswap Community to our Temperature Check vote, with >99% voting in favour of our proposal! The Temperature Check also met the 25k UNI Yes threshold required to pass. https://snapshot.org/#/uniswap/proposal/0x4f42b3215c4028edd947dc69980a9b8ba837ffbe3d0caa60d999406d634c8e79 We are now kicking off the Consensus Check - the 2nd of 3 votes, which requires 50k UNI Yes votes to pass - with the community. https://gov.uniswap.org/t/consensus-check-should-uniswap-provide-voltz-with-v3-additional-use-grant/16012?u=simonj We’re excited to see how the community votes! And we’re excited to make this happen and set a precedent for DeFi! Voltz TL;DR Voltz is a new DeFi primitive, bringing interest rate swaps to DeFi in a manner that is up to 3000x more capital efficient than alternative models. Voltz, therefore, is not a competitor to Uniswap but instead is complementary; interest rate swaps are a core pillar of well-functioning financial systems - so as Voltz grows it should help DeFi grow, which in turn should have second order benefits to Uniswap.

Dear Uniswap Community, The Voltz Labs team recently submitted a proposal to request for an “Additional Use Grant” from Uniswap governance. This would allow Voltz to use aspects of the Uniswap v3 code that is subject to the “Business Source License”. Voltz is a new DeFi primitive, bringing interest rate swaps to DeFi in a manner that is up to 3000x more capital efficient than alternative models. Voltz, therefore, is not a competitor to Uniswap but instead is complementary; interest rate swaps are a core pillar of well-functioning financial systems - so as Voltz grows it should help DeFi grow, which in turn should have second order benefits to Uniswap. That said, the Voltz Labs team recognise the significant R&D that went into v3 and as a result are offering Uniswap governance 1% of Voltz future tokens alongside a number of additional non-financial benefits. The full proposal, and discussion, can be found here: https://gov.uniswap.org/t/should-uniswap-provide-voltz-with-v3-additional-use-grant/15669?u=simonj Following positive feedback, including the discussion with the Voltz Labs founders on the Uniswap discord community call last week, we are now initiating the Temperate Check with the Uniswap community. We’re excited to see how the community votes. And excited about the opportunity to make this happen and set a precedent for DeFi!

1. izumi Finance offered "Programmable Liquidity as a Service" on Uniswap V3, which has much higher capital efficiency than the traditional Liquidity Mining program. 2. Uniswap Labs could partner with izumi Finance to cost-free provide Liquidity Mining program supports for any trading pair on Uniswap V3. For More info, you could check Uniswap Governance Forum.

Dear Uniswap community, Two weeks ago I submitted a proposal for Uniswap to incentivize liquidity on L2's to make its deployment on L2's a success and help kickstart L2 adoption. I am hereby re-submitting the proposal after it passed the temperature check. This proposal includes many details on how to execute the liquidity mining program. Forum post: https://gov.uniswap.org/t/consensus-check-should-uniswap-incentivize-liquidity-on-optimism-and-arbitrum/15288

Dear Uniswap community, Roughly a week ago, we (the Polygon team) submitted an official proposal to deploy Uniswap v3 to Polygon PoS: https://gov.uniswap.org/t/deploy-uniswap-v3-to-polygon-pos-chain/15058. Temperature Check, the first phase of the governance process, went exceptionally well; 7.79M UNI (~100%) voted yes, orders of magnitude more than the required 25k UNI quorum! We are now initiating Consensus Check, the second (out of three) phase of the governance process: https://gov.uniswap.org/t/consensus-check-deploy-uniswap-v3-to-polygon-pos-chain/15262 We kindly ask for your support. Let's make this happen!

As we all know, the gas price has been very high, which has seriously affected people's trading frequency, Is uniswap supported to accelerate layer2?

Dear Uniswap community, The Polygon team submitted a proposal to deploy Uniswap V3 to Polygon PoS chain: https://gov.uniswap.org/t/deploy-uniswap-v3-to-polygon-pos-chain/15058 We firmly believe this is the right moment for this deployment to happen, for reasons explained in the proposal. We are willing to actively support Uniswap on Polygon (financially and otherwise) and we are convinced it would be a huge success! Let's make this happen!

Uniswap governance should start incentivizing liquidity on its Arbitrum and Optimism deployments to kickstart adoption of Ethereum Layer-2 and prove that its decision to bet on Optimistic Rollups was the right one. I am re-submitting this proposal as it was ambushed last minute by a single no-voter despite overwhelming enthusiasm in the community. Several large delegates reached out after the vote voicing support for a re-submission. Read more: https://gov.uniswap.org/t/temperature-check-should-uniswap-incentivize-liquidity-on-optimism-and-arbitrum/14804

Uniswap governance should start incentivizing liquidity on its Arbitrum and Optimism deployments to kickstart adoption of Ethereum Layer-2 and prove that its decision to bet on Optimistic Rollups was the right one. Read more: https://gov.uniswap.org/t/temperature-check-should-uniswap-incentivize-liquidity-on-optimism-and-arbitrum/14804

Consensus Check - Add 1 Basis Point Fee Tier TLDR: Uniswap should add a 1bps fee tier with 1 tick spacing. This change is straightforward from a technical perspective and would help Uniswap compete in stablecoin <> stablecoin pairs, where the majority of the market share is taken by Curve and DODO. Forum post (the post exceeds Snapshot's 4800 character limit)

The DeFi Education Fund (DEF) proposes to move the organization's assets to a custodial wallet viewable on chain. Here is the governance forum thread debating this idea: https://gov.uniswap.org/t/moving-defs-assets-to-an-on-chain-custodial-wallet-to-bolster-security/14328 This is the right move for the organization for several reasons: 1. The governance proposal that funded the DEF envisioned the implementation of a security-enhancing product like Tally's Safeguard onto the multisig, but it's not ready for implementation. Safeguard would give UNI governance the ability to (i) stop any multisig transaction from taking place, and (ii) request funds sitting in the multisig to be sent back to the Community Treasury. These features would significantly enhance the security of the multisig against unauthorized/coerced/ etc. transactions. 2. Moving to a custodial wallet likely will present fewer risks to the fund's assets than relying on a four of seven multisig controlled by the committee's publicly-identified committee members, each being effectively 1/4 of a $22M bearer asset. 3. The DEF would only onboard with a custodian that would support an individual wallet for the DEF's assets, meaning it would offer the same level of transparency as a multisig. Other details: 1. Custodian criteria: Security, transparency, and cost. How the custodial wallet would be visible on chain is probably the factor with the most variance across custodians. For example, some use omnibus wallets for multiple clients’ assets, some create a new wallet every time a transaction is completed, etc. A dedicated wallet would be an absolute must in order for the DEF’s funds to be viewable/verifiable on chain, and ideally the wallet wouldn’t change every time there was a transaction in and out of the wallet because that would make viewing/verifying the assets a hassle for the community. When moving assets to the centralized custodian, the DEF would incur a fee based on the dollar value of the assets, which is typically in the range of 25-50 basis points per year. If the DEF moves forward with this proposal, the hope is to work with a custodian sympathetic to the organization's mission who could offer the DEF a "deal" on cost. 2. The DEF would directly on-board with a custodian, and the DEF would continue to pre-announce and explain withdrawals from the custodial wallet on its blog. The DEF would only use a custodian that wouldn’t move any of the assets unless four of the seven committee members validate a transaction to vindicate the four of seven requirement of the current multisig. In other words, only consensus among four of the seven committee members would have the power to validate an outgoing transaction. 3. There has been no security issue to date motivating this proposal. 4. The DEF initiated this snapshot but will not vote on it. Thanks all

There are already a bunch of V2 forks on AVAX with which the apes over there are making due. But I, for one, would like to provide some concentrated liquidity over there. Who thinks we should bring V3 to AVAX?

This Snapshot is created for the temperature check to support the oneUNI stablecoin launched by ICHI. You can find the full proposal here: https://gov.uniswap.org/t/temperature-check-support-oneuni-stablecoin/13903 Napkin Math $oneUNI is currently minted with 98% $USDC and 2% $UNI. The goal of this proposal is to loan $UNI to the $oneUNI contract so that the minting ratio may be lowered from 98% to 80%. This means users will begin depositing $0.20 of $UNI and $0.80 of $USDC to mint each $oneUNI. Proposal: How much $UNI will be used to mint Stable UNI ($oneUNI) by 11/30/2021? If you don’t want Uniswap to loan any $UNI, pick option 1 ‘Make no change’. If you want Uniswap to support this effort, pick options 2-7. The actual requested loan amount will be the $UNI-weighted average of these selections. Every $UNI counts! Why isn’t this a single yes vote? Vitalik proposed a ‘skin in the game’ solution to break the ‘tragedy of commons’ problem in token voting. As a first step, our idea is to make the voters focus on predicting the desired outcome of supporting Stable UNI. If this vote passes ‘Temperature Check’, we would like to discuss a potential reward for most accurate voters as part of the ‘Consensus Check’ process. The full proposal is at: https://gov.uniswap.org/

Upgrade Uniswap’s current governance contract from Governor Alpha to Governor Bravo to improve governance upgradability and protocol safety. Specifically, we plan on using Compound’s Governor Bravo contract rather than Open Zeppelin's reimplementation. The reasoning for doing so can be found under the "Implementation" section of the proposal. The contracts have been deployed to Ropsten for the community to review. Links can be found below: Governor Bravo Delegator Governor Bravo Delegate Github for contracts

Purpose This proposal seeks approval to begin the Uniswap Liquidity Program v0.1 to migrate liquidity to v3. A detailed proposal on the Uniswap Liquidity Program can be found here. Summary This proposal outlines a framework for establishing a liquidity incentives program (Uniswap Liquidity Program, ULP) with the goals of: accelerating the migration of liquidity to Uniswap v3; encouraging new market participants to experiment with liquidity provision, further distributing ownership of UNI tokens, and supporting ecosystem growth over the long-term. We propose the program start with an initial maximum budget of 1.662m UNI, to be allocated as liquidity incentives across two quarters. Continuation of the program will require an additional governance vote. Upon renewal of the program, each of the three initiatives can be broken out into separate proposals. The program will aim to bootstrap liquidity across three different initiatives: Stablecoin pairs Mid-tail pairs (e.g DeFi governance tokens) Deposit receipt tokens (i.e. cTokens, aTokens) Note that this is just the beginning of the Uniswap Liquidity Program (v0.1). We want to start simple and evaluate the program's effectiveness before we expand it. We will provide periodic updates on ULP to Uniswap governance and seek community feedback. Vote Should we begin Uniswap Liquidity Program v0.1? Yes No

Upgrade Uniswap’s current governance contract from Governor Alpha to Governor Bravo because this will offer a number of benefits.

Please read the proposal on the forums: https://gov.uniswap.org/t/consensus-check-create-uniswap-volume-kpi-options-to-help-divest-uniswap-s-community-treasury-into-stablecoins/13533 Thank you. Feddas

Should we turn the fee switch on for V2 and establish, "Buyback and Keep" model?