Euler Finance

Title: SAFE Airdrop Claim and Delegation Author: 0xBaer for DAOplomats & Bankless DAOstewards Related Discussions: [ [RFC]: SAFE Airdrop Claim and Delegation ]

Submission Date: 06 December 2022

Summary

Claim the $SAFE token as part of the Safe DAO launch and delegate it to {DAOplomats.eth}

Abstract

Safe (previously Gnosis Safe) distributes governance powers to historical users as part of the Safe DAO launch. The Euler Community treasury has claims to 7.972,59 SAFE tokens, of which 3819.38 will be vested over four years. The DAO has to delegate an external wallet to claim the Airdrop before the expiry (27.12.2022). This proposal suggests claiming the $SAFE token and delegating it to {DAOplomats.eth}

Motivation

Safe is one of the essential tools of the web3 ecosystem, as most DAOs have built their treasury with Safe smart contracts. The safe is also positioned itself to introduce new smart wallet standards to the EVM ecosystem if the platform harnesses its full potential. As Euler DAO uses Gnosis safes as a fundamental on-chain component, it is in the best interest of the DAO to claim these tokens before the deadline at the end of December. Furthermore, SAFE tokens will diversify Euler DAO treasury and underline the value alignment of the two protocols. As mentioned in the Abstract, The multisig should delegate the voting power of the tokens to an external wallet during the claiming process. Since Euler DAO only has a claim to 7.972,59 SAFE, we believe the DAO should not allocate extra resources for an official DAO Diplomat (DAOplomat); instead, Voting power should be delegated to external delegates such as DAOplomats.eth. More about this decision in the ‘Rationale’.

Rationale

DAOplomats have brainstormed different ways to approach the delegation of the voting power. During the Brainstorming, three main possible options arose.

1. Delegating the Voting power directly to a governance group in Euler DAO

To exert the maximum influence of Euler DAO in Safe governance, We have to send an official delegation from the Euler DAO. This group should have resources to interact with the Safe DAO governance. Since Euler DAO only has minimal voting power and has to spare resources during its development stage, it would be best to look into different options.

2. Delegate it to extern third parties

Safe Dao currently has more than 75 guardians who have some verified contributions to the Safe DAO. They have voluntarily signed up as delegates who would act in their own best interest or Safe DAO; Euler DAO will have a minimal impact on the SafeDAO governance voting.

3. Delegate to an Euler DAO value-aligned group.

Delegate to Bankless DAOplomats. We are official delegates from the Bankless DAO, which is mandated to govern with a net positive engagement. Since we are also delegates at EulerDAO, it is in our best interest to uphold the values and ensure maximum accountability. Euler DAO can leverage the collective voting power of BanklessDAO, Fightclub.vc and other partner DAOs in SafeDAO governance.

Specification

Introducing DAOplomats.eth

DAOplomats.eth are decentralised governance experts from BanklessDAO who specialise in solving the DAO governance trilemma (Voter Apathy, ignorant voting, and plutocratic voting). We tend to represent DAOs and individual token holders and provide them with an avenue to discuss proposals and leverage the combined effects of the community.

We recently joined the Euler DAO as a professional delegate group to help DAOs evolve together. Check our internal action plan for Euler DAO

We are currently the biggest delegates in 1inch DAO and have active delegations in Optimism and SafeDAO.

Our Mission and vision

Net positive engagement: We represent a community aiming to empower all parties involved and develop in a positive-sum manner.

United we stand: We, DAOstewards, believe decentralisation is paramount in governing web3. We aim to represent everyday users of web3 and have their unheard voices heard.

Bankless Lifestyle: As a group from BanklessDAO, we aim to enable more people to exit their reliability on legacy institutions and fully embrace internet-native digital organisations.

Quality participation: We believe the quality active contributors could help a DAO evolve. We aim to deliver the best quality of work with minimum bureaucracy.

Current safe delegation

Bankless DAOsteward, the public-good arm of this initiative, runs the current DAOplomats Safe delegation. The DAOstewards specialise in governing public-good protocols.

Current members: JengaJojo.eth, Senad.eth, Thinkdecade.eth, Gurad.eth and Links: Advisor: 0xBaer.eth

Members who are delegates on Euler: 0xBaer.eth, JengaJojo.eth and Senad.eth

Our voting history

Implementation

• Create a multisig transaction to claim the SAFE tokens if this proposal passes.
• Delegate the $SAFE tokens to DAOplomats.eth

Voting

Voting YES signals approval of claiming Safe tokens and delegating to DAOplomats.eth

Voting NO signals disagreement of claiming Safe tokens and delegating to DAOplomats.eth