the Solana scoop
the Tally newsletter, issue 125
welcome back to the Tally newsletter, your weekly source for DAO governance insights. i'm coolhorsegirl and i’m so happy to be here. 🟣
this week, we’re talking ~Solana~ governance, which popped off recently alongside $SOL’s pump. did you know Solana has 140 DAOs on it??
we’ve also got proposals from Dope Wars regarding some operating costs and reimbursements, proposals from Rari to increase decentralization, and the classic Nouns proposals aimed at proliferation. let’s get into it 👇
🤿 deep dive
Solana is renowned for its high transaction throughput, low latency, efficiency, and ultra-low fees—and, maybe soon, its DAOs? there are currently around 140 DAOs currently operating on Solana, managing a collective sum of approximately $1 billion. and get this: the average transaction fee is just $0.0025. alongside the recent $SOL pump, Solana governance captivated the twittersphere for a decent portion of the last week. we’re covering highlights.
first, a key player in the Solana ecosystem: Solana’s second-largest LST protocol with $425m in TVL, Jito. fat airdrop alert: ~$165m worth of JTO token was airdropped just a few weeks back. Jito is a DAO, constitution and everything—the governance token empowers holders with influence over Jito's treasury and fee rates. bulls think this’ll rouse DeFi activity on Solana.
the intersection between DeFi and DAOs, though, has been a contentious topic in the Solana community. case in point is the Solend protocol, where users granted emergency power to the platform's steward to address liquidation risks posed by a large bagholder. this decision, made through Solend's DAO governance proposal, sparked a debate around the core principles of decentralized finance. it highlighted the risks associated with large positions and their potential impact on the Solana network, raising concerns about the actual decentralization of such protocols and underscoring the need for more robust governance structures on the chain.
also on Solana is Jupiter, another DeFi protocol that recently announced a big airdrop of JUP. with a unique strategy poised at extreme care regarding governance. Jupiter is a DEX with intent on becoming a DAO “that can grow incrementally in terms of scope, participants, responsibilities.” and next year, they’re airdropping a billion tokens, part of broader strategy where 40% of the total 10 billion JUP tokens will be reserved for ongoing community airdrops.
as the Solana ecosystem continues to evolve as Ethereum has, it's clear that DAOs are becoming more than just a novel concept—they are now central to the governance and operational strategies of major protocols on the platform, not only fostering greater community involvement but also challenging traditional notions of financial and operational control in DeFi. the hype is certainly there, but we’ll have to see how DAO governance plays out coming off of these mega-airdrops.
⌛️ onchain proposals
😊 Dope Wars
summary: pays back members for DAO operating costs, mostly gas fees to propose, queue, and execute onchain transactions.
voting ends: december 25th
summary: 10m $PAPER to fund DopeLabs and the 6 members who will receive pay from the foundation-esque organization over the next 6 months.
voting ends: december 25th
🟨 Rari Foundation
RRC-14: Continuation of Rarible Protocol Transfer to Community
summary: establishes a path for the RARI DAO to govern more parts of the RARI ecosystem, namely the Exchange contracts bundle of the Rarible Protocol, by transferring those contracts to DAO ownership.
voting ends: december 21st
🟡 NounsDAO
Summary: about 2.1m USDC to expand the Nouns footprint by disrupting the esports industry model with an unapologetic community and athletes-first approach.
Voting ends: december 23rd
summary: run a single Prop House to reward 3 builders with a Noun each to get more “long-term aligned players” participating in governance.
voting ends: december 25th
Nouns Amigos or: How to Boost and Grow a Builders Community in Latam and Beyond
summary: 20 ETH to support the growth and diversification of the Nouns community in latin america for the next six months.
voting ends: december 25th
💫 DAO talk
🤭 meme of the week
say goodbye to inconsistent and unpredictable block-denominated time durations and hello to human readable timestamps! Tally now supports clockmode!
~ coolhorsegirl 🐴
p.s.- i’m back in australia and i went camping last week! saw banjo sharks, the same kind of stingray that killed steve irwin, emus, kangaroos, wallabies, wombats, and my fav, an echidna:
You should look into SuperteamDAO & DeansListDAO. Future of Work is strong on Solana.
👏👏👏