a16z outlines principles for delegating governance of DeFi protocols

The venture capital firm Andreessen Horowitz (a16z), which holds substantial stakes in DeFi-projects Compound, Uniswap and Celo, described a program for delegating governance tokens for them.

Over the last year @a16z has delegated the majority of our governance rights in protocols like @Uniswap @Compoundfinance to a network of nonprofits, startups, university orgs & more. Today were excited to share the details of this program & open source all of its component parts

— Jeff Amico (@_jamico) August 26, 2021

In a blog post the firm noted that transferring voting rights to interested parties helps increase decentralization and the quality of the protocol’s governance.

The company has delegated more than half of its voting rights. Among its delegates are non-profit organisations Kiva and Mercy Corps, telecommunications giant Deutsche Telekom, crypto startups Gauntlet, Argent, Dharma, and the blockchain communities of Stanford University and Columbia University.

Согласно заявлению компании, в выборе представителей она руководствуется рядом критериев, в числе которых:

• приверженность протоколу;
• опыт в предметной области;
• история участия в жизни сообщества;
• отсутствие конфликта интересов;
• независимость от a16z.

С делегатами фирма заключает соглашение, в котором указывается сумма передаваемых токенов, возмещение расходов на участие в управлении (до $500) и срок действия.

В a16z заверили, что представители голосуют, как сочтут нужным, но признали, что время от времени связываются с ними.

In July 2021, the company participated in a funding round for the Valora mobile wallet, raising $20 million. After the funding, the app, which began as an internal project of Celo, became an independent startup.

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