Penn Blockchain (FranklinDAO) Delegate Thread

Penn Blockchain (FranklinDAO) Delegate Thread


  • Address: 0x070341aA5Ed571f0FB2c4a5641409B1A46b4961b
  • ENS: FranklinDAO.eth
  • Twitter: @PennBlockchain


Hello everyone! We’re Penn Blockchain/FranklinDAO a leading, completely student run blockchain organization with students from The University of Pennsylvania’s undergraduate and graduate schools. We have over 200 general body members and are expecting many more in the semesters to come!

We have committees covering Governance, Research, Education, Investments, and Development/Web3. On the governance side of things, our team has different members leading governance initiatives for different protocols we have delegations for. Current delegations include Aave, Compound, Uniswap, DyDx, Optimism, Maker, etc. Each week, governance leads will share updates with the club about new proposals and we will all debate about what to do before voting with our wallet.

Core Values

We are deeply committed to preserving defi’s core values, and will gear our voting decisions based on:

  1. Transparency: Committed to ensuring transparency of the protocol, and transparency about our decision-making process. We are committed to acting independently without external influence from third-parties. We’re always open to answering questions related to our votes on proposals, and will have a running thread up shortly to publicly display our opinions on votes.
  2. Sustainability: We are committed to ensuring the long term sustainability and health of the DAOs we participate in and aim to help them steward their native protocols in perpetuity.
  3. Inclusivity: Forging the best ideas requires diversity, fairness, and education, and we will strive to encourage these.

Why us?

We’d love to be your Euler delegate as many of us have been closely following the protocol for a while now and would like to get more involved. Our weekly discussions combine graduates with years of expertise in many jurisdictions with many bright minded undergrads eager to leave their impact and names in Web3. We have upheld a 95%+ participation rate across all the other protocols we are delegates for and plan to spend a lot of time here as well to help build out the ecosystem!

I confirm that:

  • I am willing and able to participate in governance of the upcoming DAO. I understand this is an ongoing role that requires active participation: Agree
  • I understand that delegates are unpaid volunteers. Being a delegate does not qualify me for immediate payment in tokens: Agree
  • I understand that becoming a delegate is a significant commitment: Agree

Chads, Good to see the Penn blockchain team getting scores on the board at Euler Finance. Supportive from my end, but keen to see you involved more in discussions, especially in light of this recent proposal.

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100% Look to see us getting more involved in 2023!:slight_smile:

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eIP 42 Delegating SAFE Airdrop

We voted Delegate $SAFE to StableLab: We are passively active in the Safe ecosystem and have been keeping track of things there for a while now. We believe that Stablelab has shown initiative and a good track record, and for now should benefit from Euler Protocol’s delegation.

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eIP 51 Update EUL Distribution Scheme to incentivize ETH deposits

We voted YES: We think this increased ETH deposit EUL distribution method is good to attract liquidity for the yield farming Eth loop.

RFC: Deploy Euler to BNB Chain

We voted YES: Looking forward to Euler advancing their deployment onto other chains!

eIP 50: Increase Snapshot Quorum

WE voted YES: As more and more delegates enter, the quoroms should increase as well.

eIP 52 Update the IRM models for wstETH, cbETH & rETH

We voted YES: These updates will make these three markets more efficient and increase revenues for the protocol as borrowing increases, something we expect to anticipate leading up the the Shanghai update.

eIP 53 Set FRAX IRM to Stablecoin and Reduce its Reserve Fee

We voted YES: Frax has established itself as a blue chip stablecoin and in an effort to increase the borrow efficiency, we believe updating the IRM to stablecoin would be appropriate.

Grant Proposal 9: Delegated Domain Allocation by Questbook

We voted YES: After much debating and adjusting, we believe this amount is appropriate to kick off the initial trial period for the grants program. Note, @Bobbay_StableLab’s comments regarding official submission format; happy to revote if this process was incorrect. Overall, looking to get more involved through this grants process if the program goes live!


Grant Proposal 8 Warden Finance Risk & Tooling Engagement

We voted YES: After talking with the team and gathering feedback from various core and community members, we believe this is both appropriate in nature and scope (in that it should be outside of the proposed grants program). We look forward to Warden Finance’s good work!

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[Fast Track] eIP 55 Withdraw STG from the Reserves before the upcoming reissuance

We voted YES: This is a very straightforward proposal and makes sense. Thanks to the team for making it a governance decision.