Tally wrapped 2025

By the numbers. Featuring Arbitrum, Uniswap, ZKsync and more

Q1 2025: Laying the foundation

Activating BoLD: A new era of security

January kicked off with the activation of Arbitrum BoLD (Bounded Liquidity Delay). With 99.99% approval from 5,150 voters, the DAO approved this upgrade to Arbitrum's dispute resolution mechanism.

BoLD represents years of research and development, providing deterministic finality guarantees while maintaining decentralization. The high approval rate reflected strong community alignment on the technical improvement.

Building organizational capacity

The DAO recognized great governance requires great infrastructure. Two pivotal organizational proposals passed in late January:

OpCo: A DAO-adjacent Entity for Strategy Execution brought professional execution capacity to the DAO's ambitious plans. While this proposal saw more debate (56% approval), the eventual passage signaled the community's willingness to experiment with new organizational structures.

Stable Treasury Endowment Program 2.0 received strong support (93% approval) with 4,179 voters backing enhanced treasury management practices, setting the stage for the sophisticated treasury operations that would define much of 2025.

Timeboost: Innovating MEV management

March brought the Timeboost + Nova Fee Sweep proposal. Passing with 87% approval, Timeboost introduced an auction mechanism for transaction priority, aiming to capture MEV (Maximal Extractable Value) for the protocol rather than external actors.

Growing the developer ecosystem

Spring saw the DAO invest heavily in its future through:

• Arbitrum Audit Program (79% approval, March): Ensuring security across the growing ecosystem

• ArbOS Version 40 Callisto (92% approval, May): The first major ArbOS upgrade of the year, bringing Ethereum compatibility improvements and performance enhancements

• The Watchdog Grant Misuse Bounty Program (90% approval, May): Demonstrating the DAO's commitment to accountability and proper fund stewardship

DRIP: Catalyzing ecosystem growth

June's DeFi Renaissance Incentive Program (DRIP) marked a new phase in Arbitrum's growth strategy. With 5,566 voters (84% approval), the DAO committed to incentivizing DeFi activity on the network.

DRIP was designed with sustainability as a goal; focusing on leveraged looping strategies and yield-bearing collateral to create lasting liquidity rather than short-term farming.

Governance optimization

Summer also brought important governance improvements:

• Constitutional Quorum Threshold Reduction (89% approval, June): Making governance more accessible while maintaining security

• Entropy Advisors Year 2-3 Renewal (73% approval, July): Continuing professional DAO operations support

The DAO also handled routine but important technical matters like registering the Sky (formerly MakerDAO) custom gateway and the $BORING token bridge.

Sophisticated treasury management

October's 8,500 ETH Treasury Allocation proposal reflected the DAO's evolving approach to treasury management. With 99% approval from 2,370 voters, the DAO authorized deploying idle treasury assets into yield-generating strategies including:

Spring saw the DAO invest heavily in its future through:

• Arbitrum Audit Program (79% approval, March): Ensuring security across the growing ecosystem

• ArbOS Version 40 Callisto (92% approval, May): The first major ArbOS upgrade of the year, bringing Ethereum compatibility improvements and performance enhancements

• The Watchdog Grant Misuse Bounty Program (90% approval, May): Demonstrating the DAO's commitment to accountability and proper fund stewardship

DRIP: Catalyzing ecosystem growth

June's DeFi Renaissance Incentive Program (DRIP) marked a new phase in Arbitrum's growth strategy. With 5,566 voters (84% approval), the DAO committed to incentivizing DeFi activity on the network.

DRIP was designed with sustainability as a goal; focusing on leveraged looping strategies and yield-bearing collateral to create lasting liquidity rather than short-term farming.

Governance optimization

Summer also brought important governance improvements:

• Constitutional Quorum Threshold Reduction (89% approval, June): Making governance more accessible while maintaining security

• Entropy Advisors Year 2-3 Renewal (73% approval, July): Continuing professional DAO operations support

The DAO also handled routine but important technical matters like registering the Sky (formerly MakerDAO) custom gateway and the $BORING token bridge.

Sophisticated treasury management

October's 8,500 ETH Treasury Allocation proposal reflected the DAO's evolving approach to treasury management. With 99% approval from 2,370 voters, the DAO authorized deploying idle treasury assets into yield-generating strategies including:

• Liquid staking protocols

• Lending markets (Aave, Fluid)

• DEX liquidity provision (Camelot)

The allocation was designed to support DRIP by providing liquidity where users need it, while generating an estimated 204 ETH annually in yield ($891k at proposal time).

Infrastructure hardening

August's constitutional proposal addressed three critical infrastructure items:

1. Removing Nova's cost cap: Aligning economics with reality after EIP-4844 reduced L1 costs

2. Upgrading Executor contracts: Streamlining future protocol upgrades

3. Disabling legacy USDT bridge: Completing the migration to Tether's modern USDT0 standard

With nearly 100% approval (2,714 voters), this bundled proposal demonstrated governance can handle maintenance without overwhelming voters with separate votes.

As the year closes, the DAO is voting on ArbOS 51 (Dia)—the most ambitious technical upgrade yet. Currently passing with 99.99% approval from 1,789 voters, ArbOS 51 brings:

• Full Fusaka compatibility: Multiple new EIPs including secp256r1 support and BLS12-381 curve operations

• Advanced gas pricing: Multi-dimensional resource tracking laying groundwork for dynamic pricing

• Increased capacity: MaxTxGasLimit of 32M gas enabling fuller block utilization

• Improved gas targets: Raising effective targets up to 100 Mgas/s for better scaling

Scheduled for activation in January 2026, ArbOS 51 represents the culmination of a year spent strengthening foundations while reaching for new heights.

• Liquid staking protocols

• Lending markets (Aave, Fluid)

• DEX liquidity provision (Camelot)

The allocation was designed to support DRIP by providing liquidity where users need it, while generating an estimated 204 ETH annually in yield ($891k at proposal time).

Infrastructure hardening

August's constitutional proposal addressed three critical infrastructure items:

1. Removing Nova's cost cap: Aligning economics with reality after EIP-4844 reduced L1 costs

2. Upgrading Executor contracts: Streamlining future protocol upgrades

3. Disabling legacy USDT bridge: Completing the migration to Tether's modern USDT0 standard

With nearly 100% approval (2,714 voters), this bundled proposal demonstrated governance can handle maintenance without overwhelming voters with separate votes.

As the year closes, the DAO is voting on ArbOS 51 (Dia)—the most ambitious technical upgrade yet. Currently passing with 99.99% approval from 1,789 voters, ArbOS 51 brings:

• Full Fusaka compatibility: Multiple new EIPs including secp256r1 support and BLS12-381 curve operations

• Advanced gas pricing: Multi-dimensional resource tracking laying groundwork for dynamic pricing

• Increased capacity: MaxTxGasLimit of 32M gas enabling fuller block utilization

• Improved gas targets: Raising effective targets up to 100 Mgas/s for better scaling

Scheduled for activation in January 2026, ArbOS 51 represents the culmination of a year spent strengthening foundations while reaching for new heights.

As we turn the page to 2026, Arbitrum DAO enters the new year with:

• Battle-tested infrastructure: ArbOS 51, BoLD, and Timeboost providing a robust foundation

• Productive treasury: Generating ongoing yield while supporting ecosystem growth

• Active community: Thousands of engaged voters ready to tackle new challenges

• Clear processes: Proven frameworks for everything from technical upgrades to treasury management

• Growing ecosystem: DRIP and other programs catalyzing sustainable DeFi growth

As 2025 draws to a close, Uniswap DAO has navigated a year of significant governance decisions. This year saw the protocol tackle complex legal questions, advance V4 deployment, and continue refining its operational structure.

Through Tally's governance platform, UNI token holders participated in decisions that will shape Uniswap's direction going forward. From establishing a novel legal structure for the Uniswap DAO, to building V4 infrastructure, 2025 brought meaningful progress alongside ongoing challenges.

In August 2025, Uniswap DAO approved the establishment of "DUNI"—a Wyoming Decentralized Unincorporated Nonprofit Association. With 99.99% support from 145 voters, the community moved forward with this novel entity structure.

DUNI provides limited liability protections for governance participants while maintaining on-chain governance primacy. The structure enables Uniswap Governance to enter into contracts, retain service providers, and comply with US regulatory requirements.

As we turn the page to 2026, Arbitrum DAO enters the new year with:

• Battle-tested infrastructure: ArbOS 51, BoLD, and Timeboost providing a robust foundation

• Productive treasury: Generating ongoing yield while supporting ecosystem growth

• Active community: Thousands of engaged voters ready to tackle new challenges

• Clear processes: Proven frameworks for everything from technical upgrades to treasury management

• Growing ecosystem: DRIP and other programs catalyzing sustainable DeFi growth

As 2025 draws to a close, Uniswap DAO has navigated a year of significant governance decisions. This year saw the protocol tackle complex legal questions, advance V4 deployment, and continue refining its operational structure.

Through Tally's governance platform, UNI token holders participated in decisions that will shape Uniswap's direction going forward. From establishing a novel legal structure for the Uniswap DAO, to building V4 infrastructure, 2025 brought meaningful progress alongside ongoing challenges.

In August 2025, Uniswap DAO approved the establishment of "DUNI"—a Wyoming Decentralized Unincorporated Nonprofit Association. With 99.99% support from 145 voters, the community moved forward with this novel entity structure.

DUNI provides limited liability protections for governance participants while maintaining on-chain governance primacy. The structure enables Uniswap Governance to enter into contracts, retain service providers, and comply with US regulatory requirements.

The proposal allocated 1,590,691 UNI (approximately $16.5 million at the time of drafting) to prefund legal defense and tax compliance budgets, along with administrative services from Cowrie. While this represents a significant capital allocation, the funds were primarily necessary to clear retroactive tax liabilities and establish a robust legal defense—foundational requirements for the new entity structure rather than discretionary spending.

As one of the first major protocols to adopt this approach, Uniswap is demonstrating how DAOs can achieve legal clarity while preserving decentralization. DUNI was purpose-built for the Uniswap DAO; other DAOs should reference this model closely to determine if this, or a similar entity structure, could serve their long-term needs.

January 2025 saw the launch of Uniswap V4 on Ethereum, introducing a hook-driven architecture that expands what's possible in DEX design. Throughout the year, governance worked to build the infrastructure for V4 deployment across chains.

Establishing the V4 Licensing Framework

In April, the community passed a comprehensive licensing process for Uniswap V4 deployments with 96.63% support from 257 voters. This proposal created the v4-core-license-grants.uniswap.eth subdomain to track BSL license exemptions and granted the Uniswap Foundation a blanket license to deploy V4 on approved chains.

The Business Source License restricts unauthorized commercial use until June 15, 2027, giving Uniswap leverage to negotiate incentive programs with chains during the growth phase.

The proposal also created the v4deployments.uniswap.eth registry to track all official V4 deployments, ensuring transparency and consistency across the multichain ecosystem.

Scaling V4 and Unichain Support

Building on the licensing framework, the DAO approved $340,000 in funding to scale V4 adoption and support Unichain, Uniswap's new Layer 2 solution. After an initial proposal with licensing components was refined based on community feedback, the revised proposal passed in May with 92.69% support from 139 voters.

The funding breaks down as:

• $250,000 for V4 integration on Ethereum Mainnet in Oku, including backend infrastructure, pool analytics, hook discovery, and routing support

• $90,000 for Unichain deployment and ongoing maintenance

The proposal allocated 1,590,691 UNI (approximately $16.5 million at the time of drafting) to prefund legal defense and tax compliance budgets, along with administrative services from Cowrie. While this represents a significant capital allocation, the funds were primarily necessary to clear retroactive tax liabilities and establish a robust legal defense—foundational requirements for the new entity structure rather than discretionary spending.

As one of the first major protocols to adopt this approach, Uniswap is demonstrating how DAOs can achieve legal clarity while preserving decentralization. DUNI was purpose-built for the Uniswap DAO; other DAOs should reference this model closely to determine if this, or a similar entity structure, could serve their long-term needs.

January 2025 saw the launch of Uniswap V4 on Ethereum, introducing a hook-driven architecture that expands what's possible in DEX design. Throughout the year, governance worked to build the infrastructure for V4 deployment across chains.

Establishing the V4 Licensing Framework

In April, the community passed a comprehensive licensing process for Uniswap V4 deployments with 96.63% support from 257 voters. This proposal created the v4-core-license-grants.uniswap.eth subdomain to track BSL license exemptions and granted the Uniswap Foundation a blanket license to deploy V4 on approved chains.

The Business Source License restricts unauthorized commercial use until June 15, 2027, giving Uniswap leverage to negotiate incentive programs with chains during the growth phase.

The proposal also created the v4deployments.uniswap.eth registry to track all official V4 deployments, ensuring transparency and consistency across the multichain ecosystem.

Scaling V4 and Unichain Support

Building on the licensing framework, the DAO approved $340,000 in funding to scale V4 adoption and support Unichain, Uniswap's new Layer 2 solution. After an initial proposal with licensing components was refined based on community feedback, the revised proposal passed in May with 92.69% support from 139 voters.

The funding breaks down as:

• $250,000 for V4 integration on Ethereum Mainnet in Oku, including backend infrastructure, pool analytics, hook discovery, and routing support

• $90,000 for Unichain deployment and ongoing maintenance

This investment funds tooling development for liquidity providers, traders, and hook developers. The GFX Labs Oku interface aims to make V4's complexity more accessible.

The Uniswap Accountability Committee (UAC) has grown from a cross-chain deployment coordinator into a broader operational body. In April, the community renewed the UAC for Season 4 with 96.76% support from 234 voters, allocating $370,000 to fund operations through December 2025.

The UAC now manages an impressive portfolio of responsibilities:

• Cross-chain deployment coordination

• ENS record management

• Service provider compensation and accounting

• Custody of DAO-approved funds on Ethereum mainnet

• Incentive distribution across multiple EVM chains

• Governance community calls

• Foundation Feedback Group (FFG) management

This renewal increased budgeted hours from 7.5 to 10 hours weekly per member, recognizing the expanded scope and complexity of DAO operations. The staggered election system retains institutional knowledge while allowing fresh perspectives through regular member rotation.

In April, the DAO approved a $280,142 budget rebalancing proposal for the Uniswap Accountability Committee (UAC) with an overwhelming 96.76% support from 222 voters. This rebalancing addressed fluctuations in UNI token price to ensure all approved programs have adequate funding to meet their commitments.

By separating the rebalancing vote from the UAC renewal, the community ensured each decision received focused consideration.

This investment funds tooling development for liquidity providers, traders, and hook developers. The GFX Labs Oku interface aims to make V4's complexity more accessible.

The Uniswap Accountability Committee (UAC) has grown from a cross-chain deployment coordinator into a broader operational body. In April, the community renewed the UAC for Season 4 with 96.76% support from 234 voters, allocating $370,000 to fund operations through December 2025.

The UAC now manages an impressive portfolio of responsibilities:

• Cross-chain deployment coordination

• ENS record management

• Service provider compensation and accounting

• Custody of DAO-approved funds on Ethereum mainnet

• Incentive distribution across multiple EVM chains

• Governance community calls

• Foundation Feedback Group (FFG) management

This renewal increased budgeted hours from 7.5 to 10 hours weekly per member, recognizing the expanded scope and complexity of DAO operations. The staggered election system retains institutional knowledge while allowing fresh perspectives through regular member rotation.

In April, the DAO approved a $280,142 budget rebalancing proposal for the Uniswap Accountability Committee (UAC) with an overwhelming 96.76% support from 222 voters. This rebalancing addressed fluctuations in UNI token price to ensure all approved programs have adequate funding to meet their commitments.

By separating the rebalancing vote from the UAC renewal, the community ensured each decision received focused consideration.

• Average voter participation: 175+ voters per major proposal

• Highest participation: 257 voters on the V4 Licensing Process

• Consensus strength: Multiple proposals exceeded 95% approval rates

• Total governance decisions: 7 major on-chain proposals in 2025

The high approval rates suggest effective pre-voting consensus building through Snapshot votes and forum discussions, though some might argue it also reflects limited contention or voter concentration.

V4 Expansion: With the licensing framework in place and Unichain live, expect aggressive V4 deployment across major EVM chains. The hook ecosystem is poised to explode, bringing novel market structures and use cases to decentralized trading.

DUNI Operations: The new legal structure will enable more sophisticated partnerships, clearer regulatory engagement, and enhanced protection for governance participants. This foundation positions Uniswap to navigate the evolving regulatory landscape with confidence.

Governance Refinement: The UAC and other working groups will continue evolving, potentially expanding to manage new initiatives and partnerships. The Foundation Feedback Group will play a crucial role in coordinating efforts and ensuring accountability.

Treasury Growth: With V4 gaining adoption and potential protocol fees on the horizon, 2026 could be the year Uniswap's treasury becomes a more active participant in ecosystem growth.

Tally provided the infrastructure for Uniswap's 2025 governance activity:

• Average voter participation: 175+ voters per major proposal

• Highest participation: 257 voters on the V4 Licensing Process

• Consensus strength: Multiple proposals exceeded 95% approval rates

• Total governance decisions: 7 major on-chain proposals in 2025

The high approval rates suggest effective pre-voting consensus building through Snapshot votes and forum discussions, though some might argue it also reflects limited contention or voter concentration.

V4 Expansion: With the licensing framework in place and Unichain live, expect aggressive V4 deployment across major EVM chains. The hook ecosystem is poised to explode, bringing novel market structures and use cases to decentralized trading.

DUNI Operations: The new legal structure will enable more sophisticated partnerships, clearer regulatory engagement, and enhanced protection for governance participants. This foundation positions Uniswap to navigate the evolving regulatory landscape with confidence.

Governance Refinement: The UAC and other working groups will continue evolving, potentially expanding to manage new initiatives and partnerships. The Foundation Feedback Group will play a crucial role in coordinating efforts and ensuring accountability.

Treasury Growth: With V4 gaining adoption and potential protocol fees on the horizon, 2026 could be the year Uniswap's treasury becomes a more active participant in ecosystem growth.

Tally provided the infrastructure for Uniswap's 2025 governance activity:

• Transparent voting records for all proposals, enabling community members to track how delegated votes were cast

• Proposal documentation, providing context for decision-making

• Cross-chain coordination through integrations with bridging solutions

• Real-time tracking, allowing the community to monitor progress from submission through execution

The platform handled the DUNI proposal execution smoothly, documenting the legal framework and community support for this significant decision.

The Ethereum Name Service (ENS) DAO was characterized remarkable governance maturity and strategic focus. Through seven executed proposals representing millions in treasury deployment, ENS has reinforced its position as Ethereum's primary naming infrastructure while addressing critical security challenges, expanding multi-chain capabilities, and nurturing ecosystem growth.

• 7 proposals executed with 100% passage rate

• 37,597 active delegates participating in governance decisions

• Near-unanimous support: Most proposals passed with 99%+ approval

The SEAL Safe Harbor Agreement

Perhaps the most forward-thinking governance decision of 2025 was ENS's adoption of the SEAL (Security Alliance) Whitehat Safe Harbor Agreement in September. This groundbreaking framework establishes clear legal protection for security researchers ("whitehats") who intervene during active exploits.

• Transparent voting records for all proposals, enabling community members to track how delegated votes were cast

• Proposal documentation, providing context for decision-making

• Cross-chain coordination through integrations with bridging solutions

• Real-time tracking, allowing the community to monitor progress from submission through execution

The platform handled the DUNI proposal execution smoothly, documenting the legal framework and community support for this significant decision.

The Ethereum Name Service (ENS) DAO was characterized remarkable governance maturity and strategic focus. Through seven executed proposals representing millions in treasury deployment, ENS has reinforced its position as Ethereum's primary naming infrastructure while addressing critical security challenges, expanding multi-chain capabilities, and nurturing ecosystem growth.

• 7 proposals executed with 100% passage rate

• 37,597 active delegates participating in governance decisions

• Near-unanimous support: Most proposals passed with 99%+ approval

The SEAL Safe Harbor Agreement

Perhaps the most forward-thinking governance decision of 2025 was ENS's adoption of the SEAL (Security Alliance) Whitehat Safe Harbor Agreement in September. This groundbreaking framework establishes clear legal protection for security researchers ("whitehats") who intervene during active exploits.

The agreement creates a structured response mechanism for crisis situations:

• 10% bounty on recovered funds (capped at $250,000)

• 72-hour return window for rescued assets to designated recovery addresses

• Clear legal protections for whitehats acting in good faith during active exploits

• Identity requirements: KYC and OFAC screening for bounty recipients

Setting Primary Names: Leading by Example

In October, ENS set primary names for core DAO addresses, including the DAO wallet, ENS token contract, and Endowment wallet. As the proposal stated: "ENS DAO demonstrates best practices by using its own protocol fully, serving as an example for other DAOs."

L2 Reverse Registrars

July brought one of the year's most technically significant updates: enabling L2 reverse registrars for Arbitrum, Base, Linea, OP Mainnet, and Scroll. This update acknowledged a fundamental shift in Ethereum's architecture.

The old assumption—that every entity has the same address across all EVM chains—no longer holds with the proliferation of smart contract wallets and L2-native applications. By implementing chain-specific reverse resolvers (formalized in ENSIP-19), ENS adapted to Web3's multi-chain reality while maintaining its core identity infrastructure role.

TLD Expansion: Bridging Web2 and Web3

ENS's acceptance of the .locker TLD transfer to Orange Domains LLC in July demonstrated the DAO's openness to legitimate Web2-to-Web3 bridges. Orange Domains, as an ICANN-accredited registry operator, presented a compelling case for integration:

The agreement creates a structured response mechanism for crisis situations:

• 10% bounty on recovered funds (capped at $250,000)

• 72-hour return window for rescued assets to designated recovery addresses

• Clear legal protections for whitehats acting in good faith during active exploits

• Identity requirements: KYC and OFAC screening for bounty recipients

Setting Primary Names: Leading by Example

In October, ENS set primary names for core DAO addresses, including the DAO wallet, ENS token contract, and Endowment wallet. As the proposal stated: "ENS DAO demonstrates best practices by using its own protocol fully, serving as an example for other DAOs."

L2 Reverse Registrars

July brought one of the year's most technically significant updates: enabling L2 reverse registrars for Arbitrum, Base, Linea, OP Mainnet, and Scroll. This update acknowledged a fundamental shift in Ethereum's architecture.

The old assumption—that every entity has the same address across all EVM chains—no longer holds with the proliferation of smart contract wallets and L2-native applications. By implementing chain-specific reverse resolvers (formalized in ENSIP-19), ENS adapted to Web3's multi-chain reality while maintaining its core identity infrastructure role.

TLD Expansion: Bridging Web2 and Web3

ENS's acceptance of the .locker TLD transfer to Orange Domains LLC in July demonstrated the DAO's openness to legitimate Web2-to-Web3 bridges. Orange Domains, as an ICANN-accredited registry operator, presented a compelling case for integration:

• DNS verification via _ens.nic.locker TXT record

• Distribution through 50+ ICANN-accredited registrars (GoDaddy, NameCheap, etc.)

• Multi-chain resolution across Bitcoin, Stacks, Solana, and Ethereum

This proposal passed with 99.99% support.

The Superfluid Stream Crisis

August tested ENS's operational agility when Superfluid's autowrap system failed, interrupting payment streams to Service Provider Program Season 2 (SPP2) participants. The DAO's response was swift:

• Immediate diagnosis of the USDCx balance depletion issue

• Retroactive coverage: 400,000 USDCx allocated to cover the interruption period

• Stream restoration: Reactivated the ~$4.5M/year stream to the Stream Management Pod

Supporting Critical Infrastructure: eth.limo

When eth.limo faced unexpected legal expenses related to operating their ENS gateway services, the DAO responded with a 109,818 USDC reimbursement in September. This support for "critical public goods infrastructure" reflected ENS's understanding that its ecosystem depends on reliable gateway operators. The decision passed unanimously (100% approval).

Endowment Diversification Strategy

October's endowment permissions update (EP 6.23) showed sophisticated treasury management through karpatkey's diversification strategy, including new DeFi integrations with Morpho lending markets, Balancer v3 pools, additional Curve stable-pair pools, and Spark Protocol markets.

Contract Naming Season Launch

October also brought the innovative "Contract Naming Season" initiative—a six-month program to drive ENS adoption at the protocol and DAO level:

• DNS verification via _ens.nic.locker TXT record

• Distribution through 50+ ICANN-accredited registrars (GoDaddy, NameCheap, etc.)

• Multi-chain resolution across Bitcoin, Stacks, Solana, and Ethereum

This proposal passed with 99.99% support.

The Superfluid Stream Crisis

August tested ENS's operational agility when Superfluid's autowrap system failed, interrupting payment streams to Service Provider Program Season 2 (SPP2) participants. The DAO's response was swift:

• Immediate diagnosis of the USDCx balance depletion issue

• Retroactive coverage: 400,000 USDCx allocated to cover the interruption period

• Stream restoration: Reactivated the ~$4.5M/year stream to the Stream Management Pod

Supporting Critical Infrastructure: eth.limo

When eth.limo faced unexpected legal expenses related to operating their ENS gateway services, the DAO responded with a 109,818 USDC reimbursement in September. This support for "critical public goods infrastructure" reflected ENS's understanding that its ecosystem depends on reliable gateway operators. The decision passed unanimously (100% approval).

Endowment Diversification Strategy

October's endowment permissions update (EP 6.23) showed sophisticated treasury management through karpatkey's diversification strategy, including new DeFi integrations with Morpho lending markets, Balancer v3 pools, additional Curve stable-pair pools, and Spark Protocol markets.

Contract Naming Season Launch

October also brought the innovative "Contract Naming Season" initiative—a six-month program to drive ENS adoption at the protocol and DAO level:

• 75,000 USDC for operational expenses

• 10,000 ENS tokens for integration incentives

The program targets apps, DAOs, protocol contracts, and enablers like wallets and deployment platforms. The 99.3% approval showed strong community support for proactive growth initiatives.

ENS is positioned at the intersection of several important trends:

• 75,000 USDC for operational expenses

• 10,000 ENS tokens for integration incentives

The program targets apps, DAOs, protocol contracts, and enablers like wallets and deployment platforms. The 99.3% approval showed strong community support for proactive growth initiatives.

ENS is positioned at the intersection of several important trends:

• Security Professionalization: The Safe Harbor Agreement represents security infrastructure that all serious protocols should adopt

• Multi-Chain Identity: L2 reverse registrars are just the beginning as Ethereum continues scaling via L2s

• Mainstream Onboarding: Between ICANN-accredited registrar partnerships and reduced L2 friction, ENS is building pathways for non-crypto-native users

• Protocol-Level Adoption: Contract naming could become as standard as verified contracts on Etherscan

• Security Professionalization: The Safe Harbor Agreement represents security infrastructure that all serious protocols should adopt

• Multi-Chain Identity: L2 reverse registrars are just the beginning as Ethereum continues scaling via L2s

• Mainstream Onboarding: Between ICANN-accredited registrar partnerships and reduced L2 friction, ENS is building pathways for non-crypto-native users

• Protocol-Level Adoption: Contract naming could become as standard as verified contracts on Etherscan

As we close the chapter on 2025, ZKsync's governance journey on Tally has shown steady progress. From launching new tokenomics initiatives to refining governance processes, the ZKsync community worked through a busy year of proposals and decisions.

In 2025, ZKsync processed 19 governance proposals across three proposal types: ZKsync Improvement Proposals (ZIPs) for protocol upgrades, Token Program Proposals (TPPs) for treasury allocation, and Governance Advisory Proposals (GAPs) for process improvements.

• 19 governance proposals processed

• 18 proposals passed, 1 defeated in early stages

• 1,400-2,600 voters per proposal

• Most proposals achieved 99%+ approval rates

The ZK Gateway activation vote (ZIP-10) in May saw 2,670 voters, while the V28 Precompile Upgrade (ZIP-11) engaged 2,652 participants.

Token Staking Arrives (TPP-12)

In October, the community approved TPP-12: ZKnomics Token Staking, allocating 37.5 million ZK tokens (~$1.9M USD) to pilot a six-month token staking program. This proposal introduced Tally's audited Staker contract system to ZKsync, enabling token holders to stake their ZK tokens while maintaining voting power through delegation.

The program ties rewards to governance participation—reward eligibility requires delegating to Delegates who have voted on at least 2 of the last 5 proposals. With a target of growing active voting power from ~1B to ~2B ZK tokens, the program offers up to 10% annualized returns.

As we close the chapter on 2025, ZKsync's governance journey on Tally has shown steady progress. From launching new tokenomics initiatives to refining governance processes, the ZKsync community worked through a busy year of proposals and decisions.

In 2025, ZKsync processed 19 governance proposals across three proposal types: ZKsync Improvement Proposals (ZIPs) for protocol upgrades, Token Program Proposals (TPPs) for treasury allocation, and Governance Advisory Proposals (GAPs) for process improvements.

• 19 governance proposals processed

• 18 proposals passed, 1 defeated in early stages

• 1,400-2,600 voters per proposal

• Most proposals achieved 99%+ approval rates

The ZK Gateway activation vote (ZIP-10) in May saw 2,670 voters, while the V28 Precompile Upgrade (ZIP-11) engaged 2,652 participants.

Token Staking Arrives (TPP-12)

In October, the community approved TPP-12: ZKnomics Token Staking, allocating 37.5 million ZK tokens (~$1.9M USD) to pilot a six-month token staking program. This proposal introduced Tally's audited Staker contract system to ZKsync, enabling token holders to stake their ZK tokens while maintaining voting power through delegation.

The program ties rewards to governance participation—reward eligibility requires delegating to Delegates who have voted on at least 2 of the last 5 proposals. With a target of growing active voting power from ~1B to ~2B ZK tokens, the program offers up to 10% annualized returns.

Token Burn Mechanism Activated (ZIP-14)

November brought ZIP-14: Upgrade ZK Token with Permissionless Burn Function. Passing with 99.99% approval from 1,247 voters, this upgrade established a supply-side mechanism for potential usage-driven revenue distribution.

ZK Gateway Goes Live (ZIP-10)

May's ZIP-10: Activate ZK Gateway as a Settlement Layer moved ZKsync toward its Elastic Chain vision. With 99.83% approval from 2,670 voters, the community activated ZK Gateway as a settlement layer, enabling interoperability across ZK Chains.

Interoperability Enhanced (ZIP-12 & ZIP-13)

September brought two critical upgrades:

• ZIP-12: V29 Interop Messaging Upgrade (99.98% approval, 1,606 voters)

• ZIP-13: Adding a ZKsync OS CTM (99.97% approval, 1,604 voters)

Together, these upgrades build technical infrastructure for ZKsync's multi-chain roadmap.

Governance System Funding (TPP-11)

TPP-11 allocated 33 million ZK tokens (~$1.65M USD) to maintain and evolve governance infrastructure through December 2026. With 88% approval from 1,470 voters, this proposal ensures continued operation of the smart contracts, interfaces, and processes that enable protocol upgrades, token distribution, and ecosystem coordination.

Security Council and Guardians

The community demonstrated strong support for security with TPP-5: ZKsync Security Council Bridge Funding (98.6% approval) and TPP-6: ZKsync Security Council v2 Funding (99.78% approval), along with TPP-7: ZKsync Guardians Funding 2024-2026 (99.86% approval).

Token Burn Mechanism Activated (ZIP-14)

November brought ZIP-14: Upgrade ZK Token with Permissionless Burn Function. Passing with 99.99% approval from 1,247 voters, this upgrade established a supply-side mechanism for potential usage-driven revenue distribution.

ZK Gateway Goes Live (ZIP-10)

May's ZIP-10: Activate ZK Gateway as a Settlement Layer moved ZKsync toward its Elastic Chain vision. With 99.83% approval from 2,670 voters, the community activated ZK Gateway as a settlement layer, enabling interoperability across ZK Chains.

Interoperability Enhanced (ZIP-12 & ZIP-13)

September brought two critical upgrades:

• ZIP-12: V29 Interop Messaging Upgrade (99.98% approval, 1,606 voters)

• ZIP-13: Adding a ZKsync OS CTM (99.97% approval, 1,604 voters)

Together, these upgrades build technical infrastructure for ZKsync's multi-chain roadmap.

Governance System Funding (TPP-11)

TPP-11 allocated 33 million ZK tokens (~$1.65M USD) to maintain and evolve governance infrastructure through December 2026. With 88% approval from 1,470 voters, this proposal ensures continued operation of the smart contracts, interfaces, and processes that enable protocol upgrades, token distribution, and ecosystem coordination.

Security Council and Guardians

The community demonstrated strong support for security with TPP-5: ZKsync Security Council Bridge Funding (98.6% approval) and TPP-6: ZKsync Security Council v2 Funding (99.78% approval), along with TPP-7: ZKsync Guardians Funding 2024-2026 (99.86% approval).

As we enter 2026, ZKsync will build on 2025's foundation:

• Mature governance processes with streamlined voting timelines

• ZKnomics infrastructure with staking and burn mechanisms ready to evolve

• Enhanced interoperability and settlement layer functionality

• Consistent voter participation and high approval rates indicating alignment

• Long-term funding secured through 2026

Key areas to watch include decentralized sequencing, fee switch activation, ZKnomics evolution, and Elastic Chain growth.

Compound DAO showed a clear strategic focus: strengthening governance infrastructure, optimizing protocol risk parameters, and enhancing security measures. While the year saw only eight governance proposals, each carried significant weight in shaping the protocol's future.

• 8 total proposals submitted to governance

• 7 proposals executed successfully (87.5% execution rate)

• 1 proposal canceled (a duplicate governance upgrade submission)

• 100% approval rate for proposals that went to vote

• Active period: January 6 - January 28, 2025

As we enter 2026, ZKsync will build on 2025's foundation:

• Mature governance processes with streamlined voting timelines

• ZKnomics infrastructure with staking and burn mechanisms ready to evolve

• Enhanced interoperability and settlement layer functionality

• Consistent voter participation and high approval rates indicating alignment

• Long-term funding secured through 2026

Key areas to watch include decentralized sequencing, fee switch activation, ZKnomics evolution, and Elastic Chain growth.

Compound DAO showed a clear strategic focus: strengthening governance infrastructure, optimizing protocol risk parameters, and enhancing security measures. While the year saw only eight governance proposals, each carried significant weight in shaping the protocol's future.

• 8 total proposals submitted to governance

• 7 proposals executed successfully (87.5% execution rate)

• 1 proposal canceled (a duplicate governance upgrade submission)

• 100% approval rate for proposals that went to vote

• Active period: January 6 - January 28, 2025

Governance Infrastructure Modernization

Perhaps the most significant development of 2025 was Compound's comprehensive governance upgrade, which modernized the DAO's core governance contracts. This upgrade marked a pivotal shift from the legacy Governor Bravo contracts to OpenZeppelin's latest governor framework with custom modifications.

The Compound Governor Contracts Upgrade proposal, which passed with 100% support, introduced several crucial improvements:

• Flexible Voting: Integration of ScopeLift's Flexible Voting extension, enabling novel voting schemes

• Updatable Parameters: Previously fixed governance parameters became adjustable through governance

• Extended Quorum Protection: Automatic quorum extension when reached late in the voting cycle

• No Operational Limits: Removal of restrictions on the number of operations per proposal

• Future-Proof Upgradeability: Use of upgradeable proxy patterns for all new contracts

Risk Management Through Active Parameter Optimization

A defining characteristic of 2025 governance was the partnership with Gauntlet, which submitted four detailed proposals focusing on protocol parameter optimization including interest rate curve updates, supply cap adjustments, and COMP reward optimization across Ethereum, Arbitrum, Base, Polygon, Optimism, and Scroll.

Enhanced Security Measures

In January 2025, Compound activated Safe Harbor, a legal framework developed by the Security Alliance (SEAL) that empowers whitehat security researchers to rescue protocol funds during active attacks.

The Safe Harbor proposal established:

• A structured process for whitehat researchers to recover funds

• A clear reward structure: whitehats receive 10% of funds saved, capped at $600,000

• Legal protections for researchers acting in good faith

Governance Infrastructure Modernization

Perhaps the most significant development of 2025 was Compound's comprehensive governance upgrade, which modernized the DAO's core governance contracts. This upgrade marked a pivotal shift from the legacy Governor Bravo contracts to OpenZeppelin's latest governor framework with custom modifications.

The Compound Governor Contracts Upgrade proposal, which passed with 100% support, introduced several crucial improvements:

• Flexible Voting: Integration of ScopeLift's Flexible Voting extension, enabling novel voting schemes

• Updatable Parameters: Previously fixed governance parameters became adjustable through governance

• Extended Quorum Protection: Automatic quorum extension when reached late in the voting cycle

• No Operational Limits: Removal of restrictions on the number of operations per proposal

• Future-Proof Upgradeability: Use of upgradeable proxy patterns for all new contracts

Risk Management Through Active Parameter Optimization

A defining characteristic of 2025 governance was the partnership with Gauntlet, which submitted four detailed proposals focusing on protocol parameter optimization including interest rate curve updates, supply cap adjustments, and COMP reward optimization across Ethereum, Arbitrum, Base, Polygon, Optimism, and Scroll.

Enhanced Security Measures

In January 2025, Compound activated Safe Harbor, a legal framework developed by the Security Alliance (SEAL) that empowers whitehat security researchers to rescue protocol funds during active attacks.

The Safe Harbor proposal established:

• A structured process for whitehat researchers to recover funds

• A clear reward structure: whitehats receive 10% of funds saved, capped at $600,000

• Legal protections for researchers acting in good faith

Protocol expansion

The Update USDC, USDT and USDS Comets proposal expanded Compound's capacity by upgrading three major Comets to support up to 24 collateral assets. The proposal passed with 86.2% approval.

Governance activity in 2025 laid important groundwork for Compound's future:

• Modernized Infrastructure: Upgraded governance contracts provide flexibility for future innovations

• Proven Risk Management: The successful partnership with Gauntlet established a template for ongoing protocol optimization

• Enhanced Security Posture: Safe Harbor activation adds a critical safety net for protocol assets

• Expanded Capacity: Comet upgrades positioned Compound to handle growing user demand

2025 marked an important milestone for Wormhole as the cross-chain messaging protocol launched its decentralized governance system. After building infrastructure connecting over 30 blockchains, Wormhole moved toward community ownership by enabling $W token holders to participate in protocol governance through Tally.

What began in April 2025 with launch validation tests evolved into an active governance ecosystem by year's end, with three foundational proposals establishing rules, processes, and programs for the protocol's governance.

WIP-1: Code of Conduct

On May 23, 2025, Wormhole governance held its first official vote on WIP-1, the Code of Conduct for Wormhole Governance. With 3,428 voters participating and 99.74% voting in favor, WIP-1 achieved 433.4 million W tokens in support.

Protocol expansion

The Update USDC, USDT and USDS Comets proposal expanded Compound's capacity by upgrading three major Comets to support up to 24 collateral assets. The proposal passed with 86.2% approval.

Governance activity in 2025 laid important groundwork for Compound's future:

• Modernized Infrastructure: Upgraded governance contracts provide flexibility for future innovations

• Proven Risk Management: The successful partnership with Gauntlet established a template for ongoing protocol optimization

• Enhanced Security Posture: Safe Harbor activation adds a critical safety net for protocol assets

• Expanded Capacity: Comet upgrades positioned Compound to handle growing user demand

2025 marked an important milestone for Wormhole as the cross-chain messaging protocol launched its decentralized governance system. After building infrastructure connecting over 30 blockchains, Wormhole moved toward community ownership by enabling $W token holders to participate in protocol governance through Tally.

What began in April 2025 with launch validation tests evolved into an active governance ecosystem by year's end, with three foundational proposals establishing rules, processes, and programs for the protocol's governance.

WIP-1: Code of Conduct

On May 23, 2025, Wormhole governance held its first official vote on WIP-1, the Code of Conduct for Wormhole Governance. With 3,428 voters participating and 99.74% voting in favor, WIP-1 achieved 433.4 million W tokens in support.

WIP-2: Governance Process

Simultaneously, WIP-2 introduced the Wormhole Governance Proposal Process, creating a structured pathway from idea to implementation with clear stages: Idea Development, Draft Proposal Submission, Community Comment Period, Temperature Check, Final Proposal Submission, Voting Phase, and Implementation.

With 3,440 voters and 99.73% approval, WIP-2 secured 431.1 million W tokens in support—exceeding the quorum by over 80 million tokens.

WIP-3: Establishment of a Grants Program

On June 14, 2025, Wormhole governance approved WIP-3, creating a $250,000 USD grants program to fund initiatives supporting the Wormhole ecosystem. With 1,894 voters and 99.88% approval, WIP-3 secured 386.4 million W tokens in favor.

• Total Governance Proposals: 3 major proposals (WIP-1, WIP-2, WIP-3)

• Success Rate: 100% of substantive proposals passed and executed

• Average Support: 99.78% approval across all three proposals

• Total Unique Voters: Over 3,400 unique participants

• Peak Participation: 3,440 voters on WIP-2 (Governance Process)

• Highest Vote Count: 433.4M W tokens on WIP-1 (Code of Conduct)

Wormhole needed governance infrastructure that matched its multichain architecture. Tally, powered by Wormhole's MultiGov technology, enabled cross-chain voting through Wormhole's message-passing infrastructure. Token holders can delegate and vote from any supported chain, with votes aggregated on-chain.

WIP-2: Governance Process

Simultaneously, WIP-2 introduced the Wormhole Governance Proposal Process, creating a structured pathway from idea to implementation with clear stages: Idea Development, Draft Proposal Submission, Community Comment Period, Temperature Check, Final Proposal Submission, Voting Phase, and Implementation.

With 3,440 voters and 99.73% approval, WIP-2 secured 431.1 million W tokens in support—exceeding the quorum by over 80 million tokens.

WIP-3: Establishment of a Grants Program

On June 14, 2025, Wormhole governance approved WIP-3, creating a $250,000 USD grants program to fund initiatives supporting the Wormhole ecosystem. With 1,894 voters and 99.88% approval, WIP-3 secured 386.4 million W tokens in favor.

• Total Governance Proposals: 3 major proposals (WIP-1, WIP-2, WIP-3)

• Success Rate: 100% of substantive proposals passed and executed

• Average Support: 99.78% approval across all three proposals

• Total Unique Voters: Over 3,400 unique participants

• Peak Participation: 3,440 voters on WIP-2 (Governance Process)

• Highest Vote Count: 433.4M W tokens on WIP-1 (Code of Conduct)

Wormhole needed governance infrastructure that matched its multichain architecture. Tally, powered by Wormhole's MultiGov technology, enabled cross-chain voting through Wormhole's message-passing infrastructure. Token holders can delegate and vote from any supported chain, with votes aggregated on-chain.

Wormhole's 2025 governance journey established foundational systems. Priorities for 2026 include:

• Grants Program Execution: First grant-funded projects with monthly reporting

• Governance Refinement: Parameter adjustments based on practical learnings

• On-Chain Treasury: Future proposals may introduce more decentralized fund management

The Obol Collective proved how effective on-chain governance can drive real progress in the distributed validator technology space. From launching their governance token ($OBOL) to implementing sophisticated delegation mechanisms, Obol's community worked through nine substantial proposals that shaped the protocol's trajectory this year.

• 9 governance proposals voted on

• 6 successfully passed, 3 defeated through democratic process

• 67% success rate reflecting healthy community deliberation

• Over 10 trillion voting power tokens participating in the most contentious votes

Wormhole's 2025 governance journey established foundational systems. Priorities for 2026 include:

• Grants Program Execution: First grant-funded projects with monthly reporting

• Governance Refinement: Parameter adjustments based on practical learnings

• On-Chain Treasury: Future proposals may introduce more decentralized fund management

The Obol Collective proved how effective on-chain governance can drive real progress in the distributed validator technology space. From launching their governance token ($OBOL) to implementing sophisticated delegation mechanisms, Obol's community worked through nine substantial proposals that shaped the protocol's trajectory this year.

• 9 governance proposals voted on

• 6 successfully passed, 3 defeated through democratic process

• 67% success rate reflecting healthy community deliberation

• Over 10 trillion voting power tokens participating in the most contentious votes

OIP#1: Building and Enabling Staking for the OBOL Token (March 6) launched the protocol's staking mechanism, allowing token holders to stake their OBOL and participate in governance while earning rewards.

OIP#2: Unlock OBOL Token (March 7) made the token transferable, enabling the broader ecosystem participation that governance requires. Both proposals passed with overwhelming support.

OIP#3: Obol Collective 2025 Goals (April 16) established clear objectives for the year using the SQUAD framework, focusing on accelerating distributed validator adoption, expanding operator participation, and enhancing decentralized decision-making.

OIP#4: Delegate Compensation and Delegate Reputation Score Integration (May 22) introduced a dual mechanism: compensating active delegates for their governance work while implementing a Delegate Reputation Score (DRS) to measure and reward meaningful participation. With a 63% approval rate, the community endorsed a system where rewards flow to those who actively contribute.

The proposal allocated 165,000 OBOL tokens over six months to delegates based on their voting participation, impact, timeliness, and forum engagement.

Not every proposal succeeded, demonstrating governance isn't a rubber stamp:

• "Redistribute Unclaimed Airdrop to $OBOL Stakers" was decisively rejected with 83.6% voting against

• "Shutdown of the Obol Association" was overwhelmingly rejected with 86.4% voting against

• Airdrop claim period extension failed with 91.8% against

OIP#1: Building and Enabling Staking for the OBOL Token (March 6) launched the protocol's staking mechanism, allowing token holders to stake their OBOL and participate in governance while earning rewards.

OIP#2: Unlock OBOL Token (March 7) made the token transferable, enabling the broader ecosystem participation that governance requires. Both proposals passed with overwhelming support.

OIP#3: Obol Collective 2025 Goals (April 16) established clear objectives for the year using the SQUAD framework, focusing on accelerating distributed validator adoption, expanding operator participation, and enhancing decentralized decision-making.

OIP#4: Delegate Compensation and Delegate Reputation Score Integration (May 22) introduced a dual mechanism: compensating active delegates for their governance work while implementing a Delegate Reputation Score (DRS) to measure and reward meaningful participation. With a 63% approval rate, the community endorsed a system where rewards flow to those who actively contribute.

The proposal allocated 165,000 OBOL tokens over six months to delegates based on their voting participation, impact, timeliness, and forum engagement.

Not every proposal succeeded, demonstrating governance isn't a rubber stamp:

• "Redistribute Unclaimed Airdrop to $OBOL Stakers" was decisively rejected with 83.6% voting against

• "Shutdown of the Obol Association" was overwhelmingly rejected with 86.4% voting against

• Airdrop claim period extension failed with 91.8% against

OIP#6: Assigning the Cancel Role to the Obol Association (July 4) addressed governance hygiene by creating a small 2-of-3 multisig committee with authority to cancel procedurally invalid proposals. The 94.5% approval demonstrated governance maturity.

OIP#7: Staking Rewards Extension & Transition Toward Programmatic Revenue Sharing (November 6) passed with near-unanimous support (99.99%). This proposal extended staking rewards for two more months while laying groundwork for a more sustainable model where staking yields derive from actual protocol revenue rather than pre-allocated rewards pools.

As Obol enters 2026, key challenges include designing fair revenue-sharing mechanisms, refining the Delegate Reputation Score system, and scaling governance participation as the protocol matures.

This article is written with data sourced from Tally. All proposal statistics, voting records, and governance metrics are publicly available on each organization's Tally homepage or through the Tally API.

Tally provides token infrastructure for the most successful teams in crypto. We help teams launch, govern, and operate token-based systems at institutional scale. If you're interested in launching with Tally, schedule a free sales consultation.

OIP#6: Assigning the Cancel Role to the Obol Association (July 4) addressed governance hygiene by creating a small 2-of-3 multisig committee with authority to cancel procedurally invalid proposals. The 94.5% approval demonstrated governance maturity.

OIP#7: Staking Rewards Extension & Transition Toward Programmatic Revenue Sharing (November 6) passed with near-unanimous support (99.99%). This proposal extended staking rewards for two more months while laying groundwork for a more sustainable model where staking yields derive from actual protocol revenue rather than pre-allocated rewards pools.

As Obol enters 2026, key challenges include designing fair revenue-sharing mechanisms, refining the Delegate Reputation Score system, and scaling governance participation as the protocol matures.

This article is written with data sourced from Tally. All proposal statistics, voting records, and governance metrics are publicly available on each organization's Tally homepage or through the Tally API.

Tally provides token infrastructure for the most successful teams in crypto. We help teams launch, govern, and operate token-based systems at institutional scale. If you're interested in launching with Tally, schedule a free sales consultation.

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