StableLab Delegate Communication Thread

đź—łMeta-Governance
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Name: StableLab
Delegate Address: stablelab.eth
Governance tracking: Boardroom, Internal tracker
Forum: @Kene_StableLab @Bobbay_StableLab
Discord: Kene_StableLab#6984 bobbay#4885
Twitter: https://twitter.com/Stablelab
Blog: https://www.stablelab.xyz/blog
Languages: English, Spanish, German, Dutch, Romanian, Korean, Chinese

ABOUT
StableLab is a governance firm focused on professional delegation, DAO framework design and product development. We work with various projects, from the ones just starting their journey to decentralization to the most prominent DeFi protocols.

Our systematic framework for DAOs covers governance methodologies, decentralized workforce, implementation, documentation, communication and community engagement. There is no one-size-fits-all approach, but we provide a framework of principles and tools we have developed throughout our experience.

We scale DAOs sustainably.

EXPERIENCE
We are the leading professional delegate team with a track record across major DeFi protocols, including MakerDAO, Optimism, Aave, 1inch, Balancer, Element, InstaDapp, Hop and more.

We pioneer delegation work through high governance standards, extensive research, hands-on expertise and the consistent use of a code of conduct. Pushing forward web3 and DeFi since 2018, StableLab’s co-founders previously spent 3.5 years at the Maker Foundation.

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Governance delegates and roles currently (or previously held by StableLab).

View all our proposals, votes and milestones at stablelab.xyz /governance.

VALUES & CONDUCT

A. VALUES - A.R.T.

  1. Active: We participate in every aspect of the governance process, from creating and presenting proposals to providing feedback in the forums and actively voting.
  2. Research: Our decisions are backed by a team of experienced researchers and PhDs.
  3. Trust: We act unbiased and transparent, according to our code of conduct - driven by a strong set of ethics and values.

B. DELEGATE CONDUCT

  • Use values to guide actions.
  • Maintain impartiality and transparency in participation.
  • Rely on data, research and prior expertise for proposals and votes.
  • Apply battle-tested internal policies for consistency.
  • Consult with the team for quality outcomes.

WHY Hop?
The Hop DAO is focused on solidifying itself as the leading asset-bridging protocol in the ecosystem. We chose to be delegates at Hop DAO in order to support the Hop DAOs goal to be the leader in cross-chain value exchange. We believe that with reliable governance support, the Hop DAO will be able to scale sustainably. Through our role as delegates, we are committed to playing a key role in turning the Hop DAO’s vision into reality.

DISCLOSURE
Through our holding company, we have invested in multiple projects to advance growth and governance for them. See the full list here.

We contribute to various protocols’ governance, such as MakerDAO, Optimism, Aave, 1inch, Balancer, and Element. See the full list here.

When applicable, we will disclose potential conflicts of interest in our rationale.

WAIVER OF LIABILITY
By delegating to StableLab, you acknowledge and agree that StableLab participates on a best efforts basis and StableLab will not be liable for any form of damages related to StableLab’s participation in governance.

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[Temperature Check] HIP 7 - AMM and Bonder Liquidity Incentives

Vote: Yes
Rationale: This will help retain or attract bonders since bonder activity isn’t attractive in its current state. However, this is not a long-term solution, but provides ample time to find a more attractive solution for the Protocol.

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Hop Proposal Bundle: HIPs 0-7, SNX/sUSD Bridging Support

Vote: Yes
Rationale: We support each proposal within this bundle. We weren’t participants in Hop governance during their SnapShot vote, but believe each one adds value to Hop. We have broken down our reasons below.

Breakdown

[Temperature Check] HIP 0: Hop Mission Statement and Success Framework: A mission statement is essential for the DAO to understand their specific goals

[Temperature Check] HIP 1: Deploy a HOP bridge: A bridge to various networks will help Hop accumulate users, esp with Hop Labs, providing the initial support; this is an easy yes.

[Temperature Check] HIP 2: Explore Private Sale Legal Options: This is only a request to explore legal options, which will help make an informed decision if the conversation goes any further. Nothing controversial here.

[Temperature Check] HIP 3: Hop Governance Incentives: Since Hop governance is early, this is a good way to attract participants in writing proposals.

Fast bridging support for SNX and sUSD: Win-Win for both Synthetic and Hop here.

[Temperature Check] HIP 4: Delegate Incentivization Trial: Delegates need some form of comp to maintain continuous activity, so it will be interesting to see how this plays out, esp since Hop is so early in its governance days

[Temperature Check] HIP 6: Deploy a HOP bridge on Arbitrum Nova: I can see them gaining a lot of traction, with a focus on gaming and social media. Happy to support this.

[Temperature Check] HIP 7 - AMM and Bonder Liquidity Incentives: Hop needs more bonders, so some rewards would be attractive, but it is a significant amount. Open to seeing how it plays out and reviewing it in a few months.

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[HIP 8] Direct Velodrome veNFT votes to a WETH/HOP pool

Vote: Yes

Rationale: We voted YES on this proposal, the HOP and ETH trading rewards that would accrue to community Multi-Sig is an obvious upside to this proposal.
Currently, we see a downside to this, however, it is important we follow up on how these HOP and ETH proceeds will be used.

[HIP 9] Should the Hop community fund a grants program?

Vote: Yes

Rationale: We voted Yes to this proposal because we believe that a well-managed grants program is a key ingredient to the ecosystem development Hop is looking to build over time.

[Temperature Check] HIP 10: Deploy HOP bridge on zkSync

Vote: Yes

Rationale: We voted Yes to this proposal because it would support faster bridging across rollups, and bring the protocol closer to its goal of improving rollup composability.

[HIP 11] Fast bridging support and co-incentives for sUSD and SNX

Vote: Yes

Rationale: The entire crypto ecosystem is powered by trustless technology that incentives individuals to perform certain tasks, we voted Yes to this proposal because we believe that this is a good incentive that could create value for the Hop Protocol.

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Temp Check HIP 12 - How should HOP compensate Multi-Sig Signers

Vote: Yes

Rationale: We believe that Multi-Sig Signers should be adequately compensated because they are a critical part of the HOP Protocol’s operations, we believe rewarding multi-sig signers for their contributions to Hop is vital, as the protocol expands, the multi-sig workload will increase and the role of multi-sig signers will become increasingly vital.

This proposal will set the tone for how the public views HOP Protocol’s approach to rewarding contributions from the community, the right message we want to send as a community is that HOP Protocol fairly rewards contributions regardless of the role.

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HIP 9: Hop Community Grants

Vote: Yes

Rationale: We voted Yes to this proposal because we believe that a well-managed grants program is crucial to the ecosystem development Hop is looking to build over time.

HIP 12: Multisig Signer Compensation

Vote: Yes

Rationale: We believe that Multi-Sig Signers should be compensated, as they are a critical part of the HOP Protocol’s operations.

HIP 4 Amendment: Hop Delegate Incentivization Trial

Vote: Yes

Rationale: We support this proposal because it identifies a critical edge case that created difficulty in the delegate incentivization program. We believe in what this program seeks to accomplish and are glad to support this amendment.

[HIP 13] - Updating Voting Frameworks for Community Governance

Vote: Yes

Rationale: This proposal simplifies the Hop Governance Process by cutting out the On-Chain Proposal requirement for every single vote. Apart from shortening the proposal timeline, it also reduces the amount spent on gas for putting every single proposal on-chain.
Lean governance is an important part of our beliefs at StableLab; therefore, we are glad to support this proposal.

[HIP-14] Hop Protocol Roadmap

Vote: Yes

Rationale: We are glad to support this proposal because we are excited about the next phase of Hop’s Development. With the Protocol’s focus on building infrastructure that will power cross-chain applications, I believe this roadmap, if properly executed, could solidify Hop as a leader in cross-chain infrastructure.

[HIP-15] Engage Authereum Labs as Service Provider

Vote: Yes

Rationale: We gladly support formalizing this engagement with Authereum Labs as a Service Provider; however, we believe the proposal needs more work on the accountability aspects; we communicated our thoughts on how this should be approached, and we are glad that the feedback was well received.

[HIP-16] Fees and a Commitment to Public Goods Funding

Vote: Yes

Rationale: Public Goods funding is an important social responsibility that the Hop DAO has decided to undertake and we are glad to support it, we hope to see how this proposal created a layer for Hop to give back to the broader public goods ecosystem.

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[HIP-17] Deploy Hop bridge functionality on the ConsenSys zkEVM rollup

Vote: Yes

Rationale: We are glad to support the deployment of Hop on the ConsenSys zkEVM rollup, this proposal goes a step further to show the increasing importance of the Hop Protocol in Bridge Infrastructure across the ecosystem.

[RFC] Refill The HOP Community Multisig with Funds from the HOP DAO

Vote: Yes

Rationale: We support this proposal to facilitate refilling the Hop Community Multi-Sig, the multi-sig plays a key role in the DAOs operations, and we are glad to support.

Fast bridging support and co-incentives for sUSD

Vote: Yes

Rationale: The entire crypto ecosystem is powered by trustless technology that incentives individuals to perform certain tasks, we voted Yes to this proposal because we believe that this is a good incentive that could create value for the Hop Protocol.

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[[HIP-20] Community Multisig Operations for the Hop DAO](Snapshot)

Vote: Abstain

Considering that we wrote this proposal, we have chosen to abstain

HIP 18: Refill The HOP Community Multisig with Funds from the HOP DAO

Vote: Yes

Rationale: We support this proposal to facilitate refilling the Hop Community Multi-Sig, the multi-sig plays a key role in the DAOs operations, and we are glad to support.

[HIP-21] Hop DAO Ambassador Program

Vote: Abstain

Rationale: Because we wrote this proposal we have chosen to abstain from voting in its favor.

[HIP-22] Reopen HOP airdrop claim window

Vote: Yes

Rationale: We are in support of reopening the airdrop claim window for early Discord and Twitter users, we believe that these individuals spurred early traction for the Hop Protocol and should be accurately rewarded.

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[HIP-23] - Proposal to deploy HOP on Scroll zkEVM

Vote: Yes

Rationale: We are glad to support the deployment of Hop on the Scroll zkEVM rollup, this proposal goes a step further to show the increasing importance of the Hop Protocol in Bridge Infrastructure across the ecosystem.

[HIP-24] Voting System Choice for Hop DAO Elections

Vote: Weighted Voting

Rationale: We support using weighted voting because voters can quantify their support in percentages for various candidates of their choosing. A voter could give 100% of their vote to a person or split their votes between four candidates by voting 25% each. Giving voters flexibility in deciding who is elected to specific positions would be a valuable approach to running our elections.

[HIP-25] Lito Departure

Vote: Yes

Rationale: We support the mutual end of Lito’s working relationship with the Hop DAO.

Temperature Check - How To Increase Liquidity for the HOP Token?

Vote: No Change - Leave as is

Rationale: We believe that this proposal fails to establish a significant value addition to the Hop Protocol, therefore we chose not to support this proposal.

[HIP-26] Fast Bridging Support for rETH

Vote: Yes

Rationale: We support adding rETH as a supported asset for fast bridging. Due to the close relationship between the Hop and Rocketpool Community, as well as the value addition, adding supported assets for fast bridging over time will create more value for the Hop Protocol.

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[HIP-27] Delegate community multisig OP to ambassador multisig

Vote: Yes

Rationale: We believe that delegating these tokens to the Ambassador Multi-Sig will go a long way in boosting The Hop DAOs voice in Optimism Governance.

[HIP-28] Renewal of Hop Delegate Incentivization

Vote: Yes

Rationale: Delegate Program at Hop has provided immense value to the quality of governance in Hop DAO. This is why we have chosen to support the renewal of the program.

[HIP-29] MAGIC Fast Bridging Support

Vote: Yes

Rationale: Due to the demand for fast bridging support for the MAGIC token, we believe this is an excellent opportunity for Hop to increase its bridging volume and, ultimately, the Protocol’s value. However, this vote sparks a broader conversation around incentives for assets which Hop offers fast bridging support for.

[HIP-25] Lito Departure

Vote: Yes

Rationale: We support the mutual end of Lito’s working relationship with the Hop DAO.

[Temperature Check] HOP Airdrop Sybil Hunter Distribution

Vote: Yes

Rationale: We support this proposal to support airdrop Sybil hunters who contributed to the fairness of the Hop Airdrop.

[Temperature Check] Claim ARB airdrop, create Arbitrum and Optimism community multisigs, and delegate tokens to Ambassadors

Vote: Yes

Rationale: This proposal is an important step to empower the Hop Ambassadors with the Governance Power they need to govern on behalf of Hop.

[HIP-30] HOP Airdrop Sybil Hunter Distribution

Vote: Yes

Rationale: We support this proposal to support airdrop Sybil hunters who contributed to the fairness of the Hop Airdrop.

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HIP Refill the Hop Community Multisig with funds from the Hop DAO (2)

Vote: Yes

Rationale: We support this proposal to facilitate refilling the Hop Community Multi-Sig, the multi-sig plays a key role in the DAOs operations, and we are glad to support it.

[Temperature Check] - Revised HOP Liquidity Incentives

Vote: Incentivize HOP/ETH Bonds

Rationale: We believe that this proposal is essential vote to determine how we should incentivize Protocol owned liquidity, in our opinion we believe incentivizing HOP/ETH Bonds will be most beneficial to Hop DAO Protocol Owned Liquidity.

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[HIP-35] Reducing Recognized Delegate Voting Weight Requirement

Vote: 30,000

Rationale: To create an equitable delegate system, it is important for each DAO to ensure that the barriers to becoming a recognized delegate are not cost-intensive; this proposal signals a step in the right direction to make the Hop Delegate System to be based on effort and social capital instead of finances.

[HIP-36] Launch Hop on Base Mainnet

Vote: Yes

Rationale: Considering that Base leverages the Optimism Tech Stack, and is also built by the Coinbase team, the Hop Protocol would be in great company with other blue chip protocols.

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[HIP-37] Authereum Labs Engagement Adjustment

Vote: Yes

Rationale: We welcome this adjustment to the working engagement between the DAO and Authereum Labs.

[HIP-38] Treasury Diversification (Off-Chain)

Vote: No

Rationale: Although we understand why this proposal has been formulated, we are just not aligned with selling Arb tokens under any circumstances.

[HIP-39] Community Multisig Refill (3) (Off-Chain)

Vote: Yes

Rationale: We are in support of this routine multisig refill.

[HIP-38] Treasury Diversification (On-Chain)

Vote: No

Rationale: Although we understand why this proposal has been formulated, we are just not aligned with selling Arb tokens under any circumstances.

[HIP-39] Community Multisig Refill (3) (On-Chain)

Vote: Yes

Rationale: We are in support of this routine multisig refill.

Hop Farewell

It is with regret that we announce our decision to discontinue our active involvement with the Hop DAO as a delegate.

This choice is primarily driven by human resource constraints, which prevent us from effectively fulfilling our duties as a professional delegates to the Hop DAO.

Our research report, which was commissioned by the Grants DAO has been completed and will be shared on the forum shortly.

We wish to express our sincere appreciation to the community members for their invaluable support for StableLab through delegation, feedback, and endorsement of our proposals. We have full confidence in the Hop DAO’s capable contributors to bring the DAO’s vision to fruition.

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Hey Kene, curious to know if you’ve given any thought to what will happen with voting power delegated to StableLabs after you’ve disengaged from Hop’s governance. Any plans on that front?