Temperature Check🌡 Meta-Proposal to add PcUNI to cUNI Snapshot

The PoolTogether team and @arr00 would like to propose to add the PcUNI token to the cUNI Snapshot. PcUNI holders are supplying UNI to Compound through PoolTogether.

PoolTogether is a no-loss lottery built on Compound. Several weeks ago a UNI prize pool was launched, and now PoolTogether supplies ~1.14% of UNI in the Compound Market. If PcUNI was added as a voting token, it would be easier to reach the 10% quorum on Snapshot as required by the Community Multisig. Users of PoolTogether would be able to participate in Uniswap Proposals thanks to Snapshot and the multisig.

Users of PoolTogether deposit UNI in exchange for PcUNI tokens. They are exchanged at a rate of 1:1. They would need to be weighted to match cUNI, but @arr00 says it’s straightforward to do.

COMP holders voted in proposal 29 to delegate market UNI to a multisig that votes according to a cUNI Snapshot vote. We believe the spirit of this proposal is preserved, as PcUNI holders are cUNI holders by close proxy.

We think it makes the most sense to create a Snapshot meta-proposal for the cUNI token holders, so they can decide whether to approve of PcUNI voting.

We’d like to hear what the community thinks of this proposal before we move forward with it!

For context the present PoolTogether team is myself and @lay2000lbs

5 Likes

I would make the argument that this change falls under the mandate of the original governance proposal already passed to delegate UNI and create the multi-sig implementing community votes.

That governance proposal stated “The community multisig will vote according to the consensus reached by cUNI holders”. I therefore see this update as an implementation detail to achieve that stated end goal.

Furthermore, practically speaking it would be quite hard to reach quorom on a cUNI vote because all PcUNI holders would be disqualified!

Unless there is further debate I would then propose we make this update to better serve the goals of the proposal that passed.