How Top Delegates Would Delegate their Tokens
We asked top delegates across the industry what advice they would give to token holders; The affected Ledger connector has been removed from the App; Hiring for a Senior Smart Contract Developer.
Top 3
Being a token holder in a delegate voting DAO is a powerful role. But, how do you decide how to delegate your tokens? We asked delegates across the industry to give advice to token holders. Read on to get their advice!
Important Update for Aragon App Users: We have removed the affected Ledger connector from the Aragon App. Ledger deactivated the malicious code, however we still recommend clearing your browser cache and not using Ledger for 24-48 hours.
We’re hiring for a Senior Smart Contract Developer. Share this listing with someone who might be a good fit!
How Top Delegates Would Delegate their Tokens
Being a token holder in a delegate voting DAO is a powerful role. By delegating tokens, you’re assigning voting power, and therefore decision-making power, to another address. So how do you choose the delegate that will best represent your interests?
Here are a few questions to consider:
Are their incentives aligned with yours?
Incentive alignment was the topic that came up most in our interviews with delegates.
“It's essential to make sure the delegate's values and long-term vision align with yours,” said Simona Pop, advisor for the Optimism Foundation, Government Strategy at Element Foundation, and Public Goods Steward at ENS. “They should share a common perspective on the broader objectives of the DAO, as well as an interest in the paths to achieving said objectives.”
Do they have a deep understanding of the DAO and its mission? Are they the right person for the job?
Matt Fiebach, Research Analyst at Blockworks Research, an entity which is a delegate at Uniswap and Arbitrum, noted that knowledge required to be a good delegate varies significantly based on the DAO. “Depending on the DAO, the skills and expertise needed can change drastically,” he said. “For example, Uniswap DAO only controls a treasury, licenses, and a fee switch and most contracts are immutable; whereas Arbitrum DAO has power over pretty much every aspect of the protocol. So of course these require different levels of knowledge in their delegates.”
Are they willing to be contrarian rather than always going with the majority?
Another quality to look for in delegates is having opinions they’re willing to stand by, even if they’re not the most popular opinions. Diversity of ideas and contrarianism is healthy for a DAO, because debate means ideas are pushed up against and molded into their best form, rather than just letting the first iteration pass.
“I look for delegates that have a strong vision and aren't afraid to take contrarian positions,” said Carl Cervone, a Gitcoin delegate who is also a token holder who has delegated in Arbitrum, Optimism, and ENS. “I appreciate delegates who are active in governance discussions before things go to a vote, especially if it's a contentious issue. This keeps them accountable to the people they represent. I've never found myself in a situation where I re-delegated right before a vote, but I appreciate the fact that it's an option.”
Dive into the rest of the article here!
Highlights from the week
Ledger suffered an exploit yesterday. We have removed the affected Ledger connector from the Aragon App. While the issue has been resolved by Ledger, we still recommend clearing your browser cache and not using Ledger for 24-48 hours.
Thank you to everyone within the Aragon team who acted so quickly to remove vulnerabilities and keep users safe!
We spoke with delegates and projects in the Arbitrum ecosystem on an X space. Catch up with the recording!
Jessica, Head of Communications and Policy spoke in a Blockchain course at Lucerne University of Applied Sciences and Arts in Switzerland, invited by our friends at HOPR.
Samantha, Content Editor, talked about Aragon’s products and shared tips for DAOs on the Just DAO It podcast.
We’re hiring for a Senior Smart Contract Developer. Share the job description with someone who might be a good fit!
Actions
Clear your browser cache and avoid using Ledger for 24-48 hours.
Read the Token Holder’s Guide to Delegation.
Share the Senior Smart Contract Developer role with someone who might be a good fit.
Redeem your ANT for ETH here.
Have a great weekend!
—Aragon Growth Team