Uniswap

Description

Should Uniswap provide Voltz with v3 Additional Use Grant?

This is the final on-chain vote, which is being submitted by GFX Labs on behalf of Voltz.

• The Temperature Check passed with >99% in favor of the proposal.
• The Consensus Check also passed with >99% in favor of the proposal

The full proposal can be found here. The legal text, which would provide Voltz with a v3 Additional Use Grant, can be found here.

Proposal Summary

Voltz is a new DeFi primitive, bringing interest rate swaps to DeFi in a manner that is up to 3,000 times more capital efficient than alternative models. This is achieved through a variety of mechanisms, including the use of concentrated liquidity pioneered in Uniswap v3. However, since Uniswap v3 is subject to a Business Source License, Voltz is requesting an “Additional Use Grant” that would allow Voltz to use aspects of the v3 code within its codebase.

Given the significant R&D that went into v3, Voltz is offering 1% of Voltz future tokens alongside a number of non-financial benefits.

Beyond the financial benefit for Uniswap token holders, if approved, this will also represent a first for DeFi and set precedent for future Additional Use Grant requests.

On-chain voting

We are now initiating the 3rd and final governance vote.

Since license changes must be executed via the ENS domain uniswap.eth (controlled by Uniswap Governance), the governance can link arbitrary text with any subdomain of the form: X.uniswap.eth. The details of how this is done can be found in the following repo (under the Licensing section), the full simulation of the proposal is done in here.

If passed, Voltz will be provided with an Additional Use Grant as per the terms of the Business Source License. 1% of Voltz Tokens will be provided to Uniswap Treasury following the Voltz Token Generation Event.

Details

ENS_REGISTRY_ADDRESS.setSubnodeRecord(
0xec9ec573cf97ad1c270be71ac1de3b382790cb346036130c7d7ff844bf8f4974, 0x15ff9b5bd7642701a10e5ea8fb29c957ffda4854cd028e9f6218506e6b509af2, 0x1a9c8182c09f50c8318d769245bea52c32be35bc, 0x4976fb03c32e5b8cfe2b6ccb31c09ba78ebaba41, 
0)

where

node="0xec9ec573cf97ad1c270be71ac1de3b382790cb346036130c7d7ff844bf8f4974"=namehash("uniswap.eth")

and

label="0x15ff9b5bd7642701a10e5ea8fb29c957ffda4854cd028e9f6218506e6b509af2"=keccak256(utils.toUtf8Bytes("v3-core-license-grants"))

PUBLIC_ENS_RESOLVER_ADDRESS.setText(
0xa35d592ec6e5289a387cba1d5f82be794f495bd5a361a1fb314687c6aefea1f4,
“Voltz Uni v3 Additional Use Grant”,
"Voltz Labs Technology Limited (“Voltz”) is granted an additional use grant to allow the Voltz DAO to use the Uniswap V3 Core software code (which is made available to Voltz subject to license available at https://github.com/Uniswap/v3-core/blob/main/LICENSE (the “Uniswap Code”)). As part of this additional use grant, the Voltz DAO receives a limited worldwide license to use the Uniswap Code for the purposes of: creating, deploying and making available aspects of an interest rate swap automated market maker (the “IRS AMM”); to modify and update the IRS AMM over time; and deploy the IRS AMM and portions thereof as smart contracts on blockchain-based applications and protocols. The Voltz DAO is permitted to use subcontractors to do this work. This license is conditional on Voltz and the Voltz DAO complying with the terms of the Business Source License 1.1, made available at https://github.com/Uniswap/v3-core/blob/main/LICENSE.")

where

node="0xa35d592ec6e5289a387cba1d5f82be794f495bd5a361a1fb314687c6aefea1f4"=namehash("v3-core-license-grants.uniswap.eth")