# DAOstewards general delegation thread
**URL:** https://forum.euler.finance/t/daostewards-general-delegation-thread/524
**Category:** Delegates
**Created:** [December 2, 2022, 4:36pm UTC](https://forum.euler.finance/t/daostewards-general-delegation-thread/524 "2022-12-02T16:36:00Z")
**Posts on this page:** 9
**Page:** 1
### Author:  [@0xBaer](https://forum.euler.finance/u/0xBaer)
#### Post date: [December 2, 2022, 4:36pm UTC](https://forum.euler.finance/t/daostewards-general-delegation-thread/524/1 "2022-12-02T16:36:00Z")
Title: DAOstewards general delegation thread
Author: 0xBaer for Bankless DAOstewards
**ETH Address:** 0x8872fd5F66728Fc7cF01898199e162ee26f47BA8
**ENS name:** bankless.pod.XYZ
**Discord usernames:** 0xBaer#6344, jengajojo.ethđ´#5896
## Our Values
**Bankless Lifestyle** : We will help the world go Bankless by creating user-friendly onramps for people to discover decentralised financial technologies through education, media, and culture.
**United we stand** : We believe decentralisation is paramount in web3 governance. We aim to be the voice of everyday users. We put decision-making into the hands of the collective. We create legitimacy through an environment where the best ideas win.
**Net positive engagement** : We represent a community aiming to empower all parties involved and develop in a positive-sum manner.
**Quality participation** : We reward action and embrace risk. We aim to empower the community to continually drive new initiatives by providing a space to self-organize and quickly move from idea to action.
**Current Delegation.**
We select value-aligned contributors from BanklessDAO to become delegates in our DAOstewards work stream. The work stream participants meet weekly for every protocol in which we exercise meta-governance and discuss our voting strategy and how to pursue the agenda inspired by our values.
[Link to our voting history](https://bankless.notion.site/4745815f9c384338a16289251e29d833?v=a8502bef659b41d6ae2e369eebd126a2)
Current members
1. [0xBaer.eth](https://twitter.com/0xbaer) (@0xBaer)
2. [Jengajojo.eth](https://twitter.com/jengajojo) (@jengajojo)
[Link to contributor database with individual delegate pitch of Bankless DAOstewards.](https://bankless.notion.site/adaf77b3345940cd807b7c37e513b468?v=881cd6a12886428087d680a821c2f6e1)
Our Areas of Expertise
1. Treasury management
2. Tokenomics
3. Contributor economy building and management.
Our Scope of Work and Vision
âEulerDAO will kick off in three phases for a guarded launch towards full decentralisation of the Euler protocolâ - docs.Euler.finance
To the Euler DAO progressively decentralise itself, DAOstewards have set internal milestones and scope of work.
A: organisational optimisation of the DAO
- A1: Optimise existing governance process for phase 1 and gather community feedback
- A2: Prepare the Euler Community for phase 2 governance (Onchain governance)
B: Risk mitigation and sustainability
- B1: Optimise the money market parameters of the Euler protocol for efficiency through reduced risk.
- B2: Prepare the DAO to overcome the crypto catastrophe with effective mitigation strategies.
C: Open Finance Development
- C1: Enable opportunities for external builders to build on top of on Euler protocol
- C2: Make Euler DAO future-proof by incorporating leading standards and innovations in the web3 space.
## Rational
A:
DAOstewards aims to build an effective democratic system within the Web3 landscape and experiment with participation methods like [Liquid](https://en.wikipedia.org/wiki/Liquid_democracy)Democracy. The Current governance process of the web3 ecosystem in general and Euler DAO in particular need to be optimised to accommodate the dynamic participation of the community.
Our core aim during phase 1 is to build âProtocol Expertsâ who know the ins and outs of Euler Finance and governance. This approach will enable us to have quality participation from the community to Euler DAO before opening doors for more complex On-chain governance.
B:
The Defi ecosystem is nascent and ever-evolving; the fragile nature of the ecosystem opens it to a wide range of unexpected risks. Therefore, the Euler DAO should have proactive risk management strategies to secure the protocol and its users during an emergency.
We will be building proposals to adjust different parameters of the protocol and be vigilant on the solvency of the protocol.
We follow a modified version of EulerDAOâs Risk Methodology to assess risk factors for ERC20 tokens.
**DAOstewards Risk Methodology.**
In addition to the Risk parameters for ERC20 tokens listed by Euler in â[Ranking Assets](https://docs.euler.finance/euler-protocol/getting-started/methodology/ranking-assets)â, We are also following a more comprehensive internally developed methodology which assigns risk scores to ERC20 tokens form a scale of 1- 6 where 1 is the best possible score and 6 the worst score.
1. **Smart Contract Risk**
> - Quality of smart contract audits
> - Days of operation with/without a hack.
> - Nature of the source code: the ability to inspect, modify, and enhance
> - Number of independent audits
1. **Centralisation**
> - Distribution of the token across the stake holders
> - Ability to mint/burn arbitrary amounts of tokens
> - Role of a DAO if any
> - Controlled by a meatspace entity or DAO
1. **Volatility**
> - Price fluctuations over 30 days via Bollinger bands
> - EMA200
> - TTV; total trading volume over 30 days and 50 days
> - VIX
1. **Liquidity**
> - Relative Circulating Supply = Circulating Supply/total supply
> - Total market depth
> - Relative market depth (token depth /depth of WETH/USDC)
> - Distribution of volume across chains and pools
1. **Oracle Risk**
> - Stable chainlink price feed
> - Cost of moving Uni v3 TWAP
C:
The Euler DAO will only succeed if we build a thriving ecosystem around the Euler protocol. Need to enable external builders to launch their projects on top of Euler and trustlessly govern the Euler ecosystem. [Read more on the Future of DAOs](https://vitalik.ca/general/2022/09/20/daos.html).
## Benefits of delegating to us
We help individual proposal authors in Euler DAO develop their ideas into quality proposals addition. We allow authors to pass the snapshot proposal threshold if their proposals have successfully completed eIP phase. (completed Phase 3 in the proposal lifecycle). If you want feedback on RFCs, ping our team.
---
### Author:  [@euler\_mab](https://forum.euler.finance/u/euler_mab)
#### Post date: [December 5, 2022, 10:49pm UTC](https://forum.euler.finance/t/daostewards-general-delegation-thread/524/2 "2022-12-05T22:49:44Z")
Thank you for a such a thoughtful post. Looking forward to seeing your future contributions!
---
### Author:  [@0xBaer](https://forum.euler.finance/u/0xBaer)
#### Post date: [December 9, 2022, 6:55am UTC](https://forum.euler.finance/t/daostewards-general-delegation-thread/524/3 "2022-12-09T06:55:08Z")
> [@eIP 33 SAFE Airdrop Claim and Delegation](https://forum.euler.finance/t/eip-33-safe-airdrop-claim-and-delegation/528):
>
> Title: SAFE Airdrop Claim and Delegation Author: 0xBaer for DAOplomats & Bankless DAOstewards Related Discussions: [[[RFC]: SAFE Airdrop Claim and Delegation ](https://forum.euler.finance/t/rfc-safe-airdrop-claim-and-delegation/496)] 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 3819.38âŚ
---
### Author:  [@0xBaer](https://forum.euler.finance/u/0xBaer)
#### Post date: [December 24, 2022, 6:44pm UTC](https://forum.euler.finance/t/daostewards-general-delegation-thread/524/4 "2022-12-24T18:44:31Z")
> [@eIP 37: Encode Club Grant Proposal](https://forum.euler.finance/t/eip-37-encode-club-grant-proposal/553):
>
> Title: EncodeClub Grant Proposal Author(s): @encodeclub Related Discussions: [RFC & temp check poll](https://forum.euler.finance/t/rfc-encode-club-grant-proposal/538) Submission Date: December 8, 2022 Simple Summary: Encode suggests to receive $30K USD from Euler and allocate to grant projects as it sees fit, whilst engaging, consulting and involving the community in decisions. Abstract: Encode Club will organise a pilot grants programme that will aim to familiarise their community with the Euler DAOâs bounties. Their team will be entrusted with their proâŚ
We believe the bounty program for @encodeclub could bring value to Euler DAO and attract more developers to build on the Euler Protocol. However, the Proposers fail to underline who they are and lay critical indicators to measure if the programme is successful or keep the Encode club accountable. This might be because they have relied on their previous âRepâ generated from high-profile events and hackathons. This added to the fact that Euler emerged from one of Encode hackathons.
our members have tried to influence the proposal before going for snapshot voting but those werenât considered in the proposal
1. @jengajojoâs [personal response](https://forum.euler.finance/t/rfc-encode-club-grant-proposal/538/5)
2. @0xBaerâs [personal response](https://forum.euler.finance/t/eip-37-encode-club-grant-proposal/553/8)
Due to the circumstances mentioned earlier (i.e. potential benefits of the program due to the outreach and proven track record, on the other hand, lack of accountability measures)
Daostewards have decided to **abstain** from voting on the proposal.
Our known Delegators were commutated beforehand as soon as our internal poll ended.
---
### Author:  [@0xBaer](https://forum.euler.finance/u/0xBaer)
#### Post date: [December 30, 2022, 3:16pm UTC](https://forum.euler.finance/t/daostewards-general-delegation-thread/524/5 "2022-12-30T15:16:14Z")
[[eIP 38] Delegate Optimisations In Governance-2-recognised-delegates](https://forum.euler.finance/t/eip-38-delegate-optimisations-in-governance-2-recognised-delegates/557/16)
Voted âYesâ with the Rationale: The recognised Delegatesâ program will help Euler DAO achieve quality participation and support the DAO in attaining its goals w/ better coordination.
[link to i[nternal poll](https://discord.com/channels/834499078434979890/1034096315916898404/1057222436355051580)]
---
### Author:  [@0xBaer](https://forum.euler.finance/u/0xBaer)
#### Post date: [January 3, 2023, 2:31pm UTC](https://forum.euler.finance/t/daostewards-general-delegation-thread/524/6 "2023-01-03T14:31:21Z")
[eIP 39: Promote LUSD to Cross Tier](https://snapshot.org/#/eulerdao.eth/proposal/0xbdea407f76c1dc46f4ac961f6a54240021e7fca45c73fdc2e8ee662dc17ae147)
Voted Yes: DAOstewards have conducted an internal risk assessment and concluded that LUSD is a good fit as a cross-chain asset.
highlighted response of DAOstewards on the [proposal](https://forum.euler.finance/t/eip-39-promote-lusd-to-cross-tier/550/9)
[eIP 40: Schedule rolling monthly oracle change discussions & votes](https://forum.euler.finance/t/eip-40-schedule-rolling-monthly-oracle-change-discussions-votes/564)
Voted: yes
DAOstewards believe scheduling Oracle updates and bundling them together could reduce voter apathy.
[eIP41: increase-borrow-factors-for-ldo-rai-mim-frax-comp-aave-snx-bal-busd-crv-1inch-yfi-snx](https://snapshot.org/#/eulerdao.eth/proposal/0xe7c406fdab1921b489ea3435d295204adb66597a750141ce540c5bca3185167e)
Vote: Yes
Rationale: Increasing BF of said assets will boost utilisation of Euler Pools
[eIP 44: Fast-track - Convert FTT reserves to ETH](https://snapshot.org/#/eulerdao.eth/proposal/0xa41a3b0497b2bf740725fc7ef19af75f6ec3664e63f5c8fbd2441ba816415734)
Vote: NO
Rationale: According to our evaluation, this proposal shouldnât be considered as an emergency proposal. No DAO funds are at Risk; the value of said tokens are $15K at the time of publishing the proposal. If not executed proposal the DAO is opening doors to many front-running opportunities.
[eIP 43 : Allow âabstainâ vote](https://snapshot.org/#/eulerdao.eth/proposal/0xdfb86aa201d120b1b29c78e916d31f71b439a83eed69c55835d2c1d3641caf65)
Vote: Didnt vote (Abstain)
Rationale: the proposal to include a mandatory voting option to âAbstainâ failed to include Abstain. Furthermore, this proposal was derived from the DAOstewards ideation thread, thus deciding to abstain from voting.
[eIP46: Increase default borrow factor to 0.5 from 0.28](https://snapshot.org/#/eulerdao.eth/proposal/0xeb9b8a930c53497494f0ba9af3b4411933b3aa2bbf845140f1645515763e8501)
vote: NO
Rationale: the proposal hasnât provided Enough information on the potential impact of the change. In our opinion, the author has to inform the DAO sufficiently on proposals like changing default parameters.
### Title: eIP 45: Formalising Governance Processes
Vote: Yes
Implementing such changes aligns with our vision for the DAO
### eIP 47 Promote rETH to collateral tier contingent on chainlink deploying a proper oracle
Vote: Yes
Rationale: Euler is currently the got to the marketplace to ETH LSD; adding rETH will only boot the looping cycle. This change will not have a huge impact on the overall stability of Euler protocol.
### eIP 42 Delegating SAFE Airdrop
Vote: abstain
Rationale: Conflict of interests; DAOstewards are one of the candidates on the proposal to gain the SAFE delegation,
---
### Author:  [@0xBaer](https://forum.euler.finance/u/0xBaer)
#### Post date: [January 21, 2023, 5:07pm UTC](https://forum.euler.finance/t/daostewards-general-delegation-thread/524/7 "2023-01-21T17:07:40Z")
**Updates** on [ideation] [[Ideation] Formulating the Proposal Lifecycle - #8 by 0xBaer](https://forum.euler.finance/t/ideation-formulating-the-proposal-lifecycle/552/8)
The pre-RFC proposal to update the governance process has gathered sufficient feedback from the community and two independent authors unaffiliated with DAOstewards have formalised the proposal. We are happy that we could influence the decision-making of the DAO and inspire the authors to formulate the RFCs, even though it is non-customary, as the original authors reserved all rights to finalise their proposals.
1. [RFC: Formalise Governance Processes](https://forum.euler.finance/t/rfc-formalise-governance-processes/602)
2. [Allow token holders/delegates to vote âabstainâ](https://forum.euler.finance/t/allow-token-holders-delegates-to-vote-abstain/568)
---
### Author:  [@0xBaer](https://forum.euler.finance/u/0xBaer)
#### Post date: [February 7, 2023, 11:00pm UTC](https://forum.euler.finance/t/daostewards-general-delegation-thread/524/8 "2023-02-07T23:00:22Z")
### RFC: Deploy Euler to BNB Chain
voting: No: make no changes
Rationale: The infrastructure for deploying Euler on BNB chain isnât available now; deploying promptly might lead to the allocation of extra resources from the stakeholders, with might lead to deprioritization of current development while trying to honour the snapshot vote
---
### Author:  [@0xBaer](https://forum.euler.finance/u/0xBaer)
#### Post date: [February 19, 2023, 12:54pm UTC](https://forum.euler.finance/t/daostewards-general-delegation-thread/524/9 "2023-02-19T12:54:48Z")
## eIP 50: Increase Snapshot Quorum
Voting option: Yes
Rationale: increasing the Quorum will strengthen the security of Euler governance
## eIP 51 Update EUL Distribution Scheme to incentivize ETH deposits
Voting Option: Yes
## Grant Proposal 7: Anthias x Euler Alert System Grant Proposal.
Voting option: Yes
Rationale: An alert system for Euler users on their portfolio in the dAPP will reduce the information asymmetry in Web3 vs traditional finance. This alert system can be an advantage for the users in terms of liquidation risk, and the DAO could also use the services in an emergency