Stable Lab Delegate Thread

ETH Address: 0xea172676E4105e92Cc52DBf45fD93b274eC96676

ENS name: Stablelab.eth

Forum username: Matt_StableNode

Discord username: Matt_StableNode #3210

Reasons for wanting to be a delegate:

Euler is focused on bringing exciting innovations to the DeFi borrowing and lending space. We chose to be delegates for Euler to support the future of democratizing the assets people can lend and borrow. With reliable governance, Euler will be able to scale sustainably. We choose to play a key role in turning Euler’s vision into reality.

Web3 interests:

Governance, DAOs, DeFi,

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

Web3 qualifications:

About StableNode:

StableNode is a prominent Governance Research firm, working to improve DAO Governance standards through our research and direct experience in creating governance frameworks. Our team is committed to providing investors and institutions with key insights through a suite of services including DAO analysis, governance research, tailored consulting, and delegation. We have a dedicated governance team working on the delegations while we also operate governance research projects and product developments.

Core Values:

  • Active: We participate in every aspect of the governance process, ranging from presenting proposals, providing feedback in the forums, and active voting.
  • Research: Our decisions are backed by scientific research.
  • Trust: We act unbiased and transparent, according to our code of conduct, driven by a strong set of ethics and values.

Delegate Pitch:

StableNode is a “professional delegate” working on decentralized governance across various DeFi protocols. To ensure that StableNode is represented in a uniform and value-driven manner, we have a set of governance delegate policies that team members follow. Our goal is to participate in a professional, unbiased, transparent, and reliable manner while promoting the journey to full decentralization. Our expertise is the product of our research and years of experience working with and for DAOs.

Our team has been in the space for many years, both in research and as core contributors to protocols such as MakerDAO. We are focused on supporting protocols to reach a safe and sustainable level of decentralization.

There is no one-size-fits-all approach but we provide a framework of principles and tools we have developed throughout our experience. We have developed a systematic and robust approach to governance and growth. Creating principles that optimize the objective outcome of the decision-making process is key to successful governance.

Conflicts of Interest

StableNode invested in various entities such as Monetalis and Superfluid.

StableNode contributes to various protocols’ governance such as InstaDapp, Element Finance, Balancer, 1inch, and others, all disclosed on our website.

StableNode will disclose in case the voting might create conflicts of interest.

Waiver of Liability

By delegating to StableNode, you acknowledge and agree that StableNode participates on a best-efforts basis and will not be liable for any form of damages related to StableNode’s participation in SafeDAO.

Additional links:

1 Like

Proposal: Upgrading to ChainLink Oracles for several Markets

Vote: Yes

Rationale: We support upgrading to Chainlink oracles for all the markets mentioned as this ensures secure and reliable price feeds. With the low liquidity in these markets’ Eth pairs on Uniswap V3, it is important to upgrade to chainlink price feeds to prevent oracle attacks and maintain the safety of Euler.

Proposal: Fast track eIP #31: Move WBTC oracle to an explicit WBTC Chainlink Oracle

Vote: Yes

Rationale: We support moving to an explicit WBTC Chainlink Oracle as there are some concerns about the de-pegging of WBTC to BTC. Even if this event is unlikely it is better to be cautious and take this action now to prevent a disaster in the future. This also ensures the most accurate price data which is always beneficial to have.

Proposal: eIP 32: Delegate Optimisations in Governance

Vote: Yes

Rationale: We support this proposal because it incentivizes delegates to be more active without making it too difficult to become a delegate. This will help strengthen the community.

Proposal: eIP 33. SAFE Airdrop Claim and Delegation

Vote: No

Rationale: We believe this proposal should be reformatted to include all candidates to ensure the SAFE airdrop is claimed.

Proposal: eIP 34: Change OHM oracle to Chainlink and set up market parameters

Vote: Yes

Rationale: The Chainlink oracle and new market parameters will help bring security and efficiency to the OHM market and allow it to exist on Euler.

Proposal: EIP 35: Claiming SAFE Airdrop

Vote: Yes

Rationale: Claiming the SAFE airdrop is important as it will allow Euler to have a say in the tool Euler uses to hold their treasury. We support claiming now and delegating later.

Proposal: eIP 36 Fast track - Module updates

Vote: Yes

Rationale: It is important to fix this bug quickly. We support this fast-tracked proposal to ensure Euler’s safety in a timely manner.

1 Like

Proposal: Encode Club Grant Proposal

Vote: Yes

Rationale: Given Encode’s history with Euler and willingness to run this program at no cost, we think this is a great way to grow the Euler community.

Proposal: eIP 38 Delegate Optimisations in Governance: 2 - Recognised Delegates

Vote: Yes

Rationale: This is a good first step to help incentivize delegates and strengthen the Euler community. However, we would like to see this program modified in the future to become more permissionless.

Proposal: eIP 39: Promote LUSD to Cross Tier

Vote: Yes

Rationale: The risk analysis shows that LUSD is safe enough to move to cross-tier. This improves the capital efficiency of the LUSD market on Euler and brings in more borrowers/lenders.

Proposal: eIP 40: Schedule rolling monthly oracle change discussions & votes

Vote: Yes

Rationale: A consistent schedule will help to keep voter attention and make the forums cleaner. However, it is important to keep a consistent watch over the oracles in case one needs to be changed quickly before the next monthly vote.

Proposal: eIP41: increase-borrow-factors-for-ldo-rai-mim-frax-comp-aave-snx-bal-busd-crv-1inch-yfi-snx

Vote: Yes

Rationale: Increasing the borrow factors should boost activity for these assets without becoming too risky or endangering the protocol.

Proposal: eIP 43 : Allow “abstain” vote

Vote: Yes

Rationale: It is important to allow an abstain option when there is a conflict of interest. Especially with the addition of the active delegate program requiring high voting percentage.

Proposal: eIP 44: Fast-track - Convert FTT reserves to ETH

Vote: no

Rationale: We support this idea but think it sets a bad precedent to fast-track it as it is not an emergency. We would like to see this proposal go through the traditional governance process.

Proposal: eIP 42 Delegating SAFE Airdrop

Vote: abstain

Rationale: As one of the delegates vying for the SAFE delegation we will abstain from this proposal.

Proposal: eIP 45 : Formalising Governance Processes

Vote: Yes

Rationale: Makes governance process clear. Fast-track process needs to be improved in the future but a good start at standardizing Euler governance.

Proposal: eIP46: Increase default borrow factor to 0.5 from 0.28

Vote: Yes

Rationale: Encourages long-tail assets borrowing and could attract more users. Adds risks to lenders but does not add significant risk to the protocol

Proposal: eIP 47 Promote rETH to collateral tier contingent on chainlink deploying a proper oracle

Vote: Yes

Rationale: rETH is worthy of collateral tier with sufficient liquidity and low slippage. This will add another LSD to Euler and attract new users.

Proposal: eIP48: January Oracle Change. Change ENJ and KP3R oracle to Chainlink

Vote: Yes

Rationale: Chainlink oracles for longtail assets provide safety to Euler and should be used when available.