404 DAO

An important update regarding the future of 404 DAO’s governance operations. Since entering the governance space in 2022, 404 Gov has been an active voice and participant in some of the industry’s largest DAOs. What started as a small team of Georgia Tech students focusing on contributing to the Optimism DAO, quickly grew to becoming a trusted delegate in 10 ecosystems. As the governance team evolved and members ventured into new opportunities, we began to evaluate what was the best path forward for our governance vertical. We determined that our delegated voting power deserves a dedicated steward who can commit the time and focus it requires. So while 404 Gov is taking a step back from governance, the mission and work will continue with one of our team members, Rika, under her new entity, @AxiaNetwork0x, which has taken over the voting wallets and governance operations. Going forward, Axia Network is responsible for the voting activity of 0xE93D59CC0bcECFD4ac204827eF67c5266079E2b5. Rika has been a core part of our team’s operations for many years now and deeply understands the responsibility involved with being a delegate. We are confident that the delegations will continue to be handled with professionalism under her stewardship. This transition applies only to governance-related wallets and profiles. Our partnership with Blockchain at Georgia Tech and educational work in Atlanta remains active. Thank you to those who entrusted us with their voting power for so many years and thank you to the DAOs and contributors we’ve collaborated with during this period. It has been a privilege to take part in these ecosystems.

Join Blockchain at Georgia Tech, Emory Blockchain and 404 DAO this Thursday at @TechSqATL as we virtually welcome the @ethereumfndn and @buidlguidl Dive into the fundamentals of building smart contracts on Ethereum and network with fellow builders RSVP below 👇

DAOs struggle to allocate grants effectively Voter apathy, committee bias, and low-quality signal plague traditional funding rounds But Conditional Funding Markets like @butterygg offer a new approach @Kaleb0x explains how Butter plans to use markets to fund the best proposals 🧵

Uniswap unleashed 🦄 In March, Uniswap Governance passed a proposal for new growth campaigns on v4 The incentive campaign will kick off on Unichain 4.15 ✨ Learn more ↓

🗳️ Meet the NEAR Endorsed Delegates - House of Stake with @gauntlet_xyz Speakers: @openwebeconomy, @NEARWEEK, @slimedrgn, @areta_io, @404DAO & @alannetwork_ We are going live in 30 minutes! x.com/i/spaces/1MYxN…

happy @unichain day to all who celebrate! love to see this deep dive from uniswap delegate @404DAO and @Kaleb0x. flashblocks and the uvn (coming soon :tm:) are just the start.

Overall, Unichain's use of a Verifiable Block Builder via a TEE and the UVN offers an exciting solution to many issues in Ethereum's rollup-centric roadmap, potentially becoming the home of liquidity 🚀 Follow @404Gov for more updates on Unichain and Uniswap governance

The other risk is competition from other chains with faster block times: @megaeth (<1ms) @risechain (<10ms) @atlasxyz (50ms) Who could potentially increase LP profitability and attract DeFi projects, which could draw liquidity away from Unichain

This is why @Uniswap is working with @AcrossProtocol to improve cross-chain UX and standardize intents through ERC-7683

But if cross-chain UX was seamless, a user could just express their intent, and behind the scenes, a filler would complete the order: 1️⃣ Bridge USDC to Unichain 2️⃣ Swap for WETH on Unichain (where liquidity could be better) 3️⃣ Bridge WETH to Chain B and send it to the user

Cross-Chain UX Fails to Improve Today you have to go through clunky bridges and spend time searching chains for the best price If cross-chain UX doesn’t improve, users may still resort to swapping on their native chains, which may not encourage liquidity to migrate to Unichain

With these improvements, Unichain has the potential to address the aforementioned problems, position itself as the most appealing chain for LPs, attract significant liquidity, and establish itself as the Liquidity Hub However, there are a few risks to the Unichain thesis👇

Poised to launch in early 2025, @Unichain is designed to become the onchain hub for liquidity But what does that mean, and how do they plan to accomplish it? @Kaleb0x explores here 🧵

Validators stake UNI on Ethereum and post attestations of block validity By ensuring confidence in the canonical chain as blocks are proposed, the UVN reduces settlement times and enables efficient cross-chain liquidity flow

3️⃣ Faster Economic Finality Unichain accelerates finality through its Validation Network (UVN), a decentralized network of staked validators that independently verify blocks This reduces risks like block equivocation and invalid blocks that can delay finality

Through TEE-enforced priority ordering, applications can capture MEV by applying MEV taxes, charging a % of priority fees Regular users remain unaffected, as only searchers bidding aggressively for inclusion would pay high priority fees

2️⃣ MEV Capture The TEE also allows for a framework for MEV recapture by creating a secure, tamper-proof environment that enforces ordering transactions by priority fees

Shorter effective block times also lower the adverse selection costs for liquidity providers Faster blocks help reduce arbitrage profits because prices update more frequently, narrowing the window for arbitrage opportunities This could potentially lead to higher LP returns

1️⃣ Efficient Markets Unichain uses a Verifiable Block Builder powered by a trusted execution environment (TEE) to separate block building from sequencing The TEE issues block pre-confirmations, called Flashblocks, every 250ms which boosts UX and market efficiency

So, how does Unichain’s architecture fix this? 🔹 Efficient markets: 250ms effective block times reduce toxic flow for LPs 🔹 MEV Capture: Applications can recapture MEV through MEV Taxes 🔹 Faster Economic Finality: Reduced settlement delays enabling cross-chain liquidity flow

As DeFi expands, Ethereum’s rollup-centric scaling has introduced challenges: 🔹 ⏳ Slow execution: Users face delays and inefficiencies 🔹 💵 MEV exploitation: Arbitrage bots profit at the expense of users 🔹 🌊 Fragmented liquidity: Assets are spread all across rollups