Lyra

DRAFT

• Charlie Feng (@zcf, Twitter: @charliecfeng)
• Requires: LEAP 51

Simple Summary

Delegates portal for Lyra governance.

Abstract

With the move to on-chain governance (LEAP 51), delegation becomes a key component of a vibrant governance ecosystem. This LEAP proposes building a delegates portal for the Lyra community.

Specifically, this Lyra Agora v1 will enable two key functions:

• Allow delegates to create statements and customize their profiles. Help bring more voices to the community.
• Allow delegators to discover high quality delegates to whom they can delegate entrust to make decisions on their behalf.

This LEAP requires Lyra DAO to provide:

• A grant of 250,000 LYRA to Agora’s multi-sig, 50% upfront, 50% at launch of Lyra Agora v1 site.

Motivation

Delegation is a key step in scaling an on-chain community. We want to bring this to Lyra as Lyra moves to on-chain governance.

We hope this helps retain and reward existing long-time users of the community who has Lyra’s best interest at heart and can further make an impact. We also hope that this will help bring new voices to the community.

Specification

Overview

Agora aims to make governance participation a frictionless and transparent process. We believe a robust governance process is key to attracting higher quality contributors, better ROI proposals, and ultimately what enables an ecosystem to grow and thrive.

We’ve seen success in terms of an increase in the participation rate and new delegates from our experience helping Optimism, Uniswap, ENS, and Nouns. However, each DAO is unique in its own ecosystem. As a result, we plan to implement a feature-rich experience that’s tailored towards what Lyra’s ecosystem needs.

The initial scope of Lyra Agora v1 is to focus on the immediate task at hand:

• Enable delegate discovery
• Enable easier delegation

Over time, our mission at Agora is to make governance a first-class experience, tailored for Lyra delegates and build a dedicated client that helps reduce friction and enable transparency with the aim to help grow the ecosystem.

We are a dedicated team that will continue to maintain, improve, and host the site for Lyra. We will be responsible for fixing bugs, troubleshooting customer support and taking in community feedback to make improvements towards the app.

Technical Specification

Key Features:

• Delegate discovery page
  • Sorting — enable sorting by: most voting power, most delegators, most active, random
  • Filters — enable filters by: Issues, Stakeholders (out of scope for v1, but for v2, we’d love to look at integrating other credentials)
• Delegation interface — simple, easy-to-use interface for delegation for anyone. They can also see at any time, who they delegated to and their own voting power and token balances.
• Delegate’s Page & Statement Creation
  • Delegate statement creation — simple to use delegate statement creation wizard and profile page for each delegate that connects their wallet.
  • Governance data feed — delegate’s statement data will be open-sourced and streamed and accessible publicly for anyone else to build on top of. Committed to making all delegate data available and via a shared open-data standard.
• Lyra customization
  • Lyra specific subdomain — While we will host the site and be responsible for all of the costs of hosting and maintenance (guaranteed for 12 months), we enable the site to live on Lyra’s custom sub-domain of choosing rather than our own. E.g. gov.lyra.finance
  • Lyra white-labeled design — on the landing page as well as delegate’s default avatars.

Timeline: after the proposal passes, we aim to launch the v1 of Lyra Agora in 4-6 weeks.

Rationale

• Dedicated governance portal — Trust and ease of use is a key factor when it comes to increasing governance participation from the community. To combat voter apathy, we believe a tailored client will reduce barriers of entry. This way we can link out to Lyra’s FAQ, show Lyra specific metrics, etc.
• Subdomain — we believe enabling Agora to live natively on the DAO’s page accomplish 2 things: (1) increase ease of use for users and (2) risk mitigation in case that the DAO wishes to replace Agora in the future. They can do this without interrupting user’s experience with a new domain of any sort.
• Backend indexer — we believe speed and reliability is important as critical governance decisions often happen in a short span of time. As a result, we’ve chosen to deploy a custom indexer for each DAO. An alternative solution could’ve been The Graph.
• Wallet compatibilities — to reduce testing complexity, we’re primarily testing with the popular EOAs like Metamask, Coinbase Wallet and Taho. We also support eth gnosis safe multi-sigs. For the v1 of Agora, we will not be immediately compatible with custom deployed wallets or ERC-1271.

Test Cases

We have a launch checklist to make sure all the features work and are stress tested. However, the primary features are listed above.

Configurable Values

N/A

Copyright

Copyright and related rights waived via CC0.

Lyra Agora will be licensed under MIT.