Proposal: PIP-58 - ParaSwap Delegate Incentives Program - Cycle 1
Vote: For
Rationale: We’re huge fans of @SEEDGov’s DIP and fully support this proposal. We believe Seedgov’s initiative will professionalize governance, boost participation, and enhance transparency within the DAO, and we’re eager to contribute to its success.
Proposal: PIP-59: Proposal for Returning 40.203 wETH to Bybit (After 10% Bounty Deduction)
Vote: For
Rationale: We support returning the 44.67 wETH to Bybit because we believe it’s the right thing to do, especially since these funds are tied to an illicit transaction. Returning the funds reflects our commitment to integrity and responsible governance.
That said, we also understand @AranaDigital ’s concerns about fairness for our stakers. Many stakers have trusted the system by actively participating and earning fee distributions, and it’s important that any actions we take don’t unfairly affect their rewards. We need to carefully address the risk that staking rewards, seen as a legitimate income, could be retroactively impacted.
Additionally, we feel it’s crucial to fully explore the legal implications of our decision. We need to clarify whether not returning these funds or keeping a portion of it might expose the DAO to future legal consequences or even litigation. A thorough legal review will help ensure that everyone understands the risks and liabilities of both returning and retaining the funds.
To move forward, we suggest giving additional consideration to the following areas:
1. Establish a Clear Framework:
Develop a Transparent Process for Handling Funds Tied to Illicit Activity. We propose establishing a clear and open process to identify and manage funds linked to illicit activity. This framework will clearly outline roles, responsibilities, and the steps required to ensure fairness for everyone, just as @AranaDigital mentioned. To cover the costs associated with setting up and maintaining this process, we could charge a fee. For example, a modest fee (say, 2-5% of the returned funds) could be allocated to cover the necessary administrative, legal, and operational expenses (if applicable).
2. Legal Review:
Hire a proper legal counsel to:
- Understand potential legal liabilities for the DAO.
- Determine if any entity could pursue legal action based on our decision.
- Learn best practices from similar cases to protect all stakeholders.
(Note that any legal review expenses should be covered from the 44.67 wETH.)
Proposal: PIP-60 - Expansion of Project Miro token and staking system to Base
Vote: For
Rationale: We will support this proposal, as Base is currently one of the leading L2 chains in the industry with strong DAUs, and expanding alongside Project Miro makes a lot of sense. Incentives are an effective way to attract users, and the $40K budget seems reasonable given it covers smart contract development, audits, and gas costs. We also appreciate that the spend will be in ETH or FTM instead of PSP, which helps preserve the DAO’s native token. That said, we do have one question: if there are future plans to expand to other EVM chains, should we expect a similar cost structure each time? It would be helpful to understand the scalability of this model going forward.