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Should the DAO bridge funds to Polygon before sending to Grantees/Employees?

RejectedDraft

Proposal Details

Author0x153b…364d
PublishedDec 19, 2023 15:14
Voting beginsDec 19, 2023 15:14
Voting endsDec 26, 2023 15:14
Snapshot#5aaa037

Description

There is a reason Decentraland pivoted from mainnet to Polygon, and it only makes sense to transition the majority of financial activity from mainnet to Polygon to reduce the cost of doing business.

5 Comments

daoDec 26, 2023

Should the DAO bridge funds to Polygon before sending to Grantees/Employees? This proposal is now in status: REJECTED. Voting Results: * Yes 1% 3,506 VP (24 votes) * No 1% 1,061 VP (7 votes) * Abstain 98% 4,019,968 VP (34 votes)

HuepowDec 23, 2023

Too early for this ,IMO because: The Ethereum Cancun upgrade, which is expected to happen in **Q1 of 2024** , will increase the scalability, security, and efficiency of the Ethereum network, optimizing operation and **reducing gas fees** through a process known as proto-danksharding First lets see how much it will improve network with overloading and high gwei _______ But also, if switching to other Etherum compatible layers, then it would be optimal to colaborate with OPTIMISM and move liquidity from Polygon to Optimism with a marketplace as well and you still pay gas ETH. But much lower then on Polygon. And after use Layer 3 OPTIMISM superchain having Ethereum security and speed like a web2 apps with almost 0 fees for a marketplace

MimsyDec 21, 2023

Good idea and appreciate the effort to solve the issue, but going to abstain because of what HP said. I feel like what can reasonably moved over should be, but it makes sense why it can't all be done.

HPrivakosDec 20, 2023

We also cannot swap before bridging because Polygon bridge only bridge from one address to that same address on the other chain and our multisig have different addresses, it would force use to transfer a very large amount of DAI to a single person owned address to transfer to Polygon then sent it back to the multisig. ![Screenshot_2023-12-20_01-37-16|577x500](upload://iJlJU7o64yGLsTk9kh51bL4Xh88.png) This is slippage on Polygon, we would need to swap for 240k USD worth of MANA to get 100k USD worth of DAI, to pay a single grant, it's not doable.

HPrivakosDec 19, 2023

Polygon doesn't have enough liquidity to convert MANA to stablecoin to conduct day-to-day activity. We are also not doing much low value transfer, and much of our transfers are batched. We also don't do much txs at the peak of gas price. Payments to curators could be moved to Polygon is they are ok, same for DAO Committee, we might do it in the future. Grants paid in MANA can be done on polygon too, but for grants in DAI it would not really be doing.