Weekly governance outlook - 2026-07-12

Injective has implemented updated hourly funding rate caps for FX pairs on its exchange dApps, impacting traders and liquidity providers. Meanwhile, Convex Finance’s Frax proposal introduces the EchoMarket Creator & Distribution Program, and Morpho’s MIP 132 seeks a transition grant for the Worldcoin Mini-App, with voting closing today.

1. **Convex Finance**: Vote #1445 on Curve ownership is active and ends today—key for DAO participants with Curve exposure. 2. **Spectra**: SGP-20 proposes zeroing SPECTRA emissions, ending today, while **Gearbox Protocol**'s GIP-287 (treasury cleanup) closes in 2 days—both critical for tokenomics and treasury management.

Nouns DAO's proposal to fund a high-profile theatre with a payback model closes today, while Frax Finance's active vote seeks to raise Aave v4's sfrxUSD allocation cap from 20M to 50M. PancakeSwap also has an ongoing proposal to optimize treasury revenue by redirecting side product fees, with both votes ending today.

1. Marinade’s Validator Bonds contract upgrade and Pyth Network’s OP-PIP-98 (LaaS for Pyth Pro) have both closed, streamlining staking and listing services for participants. 2. Pyth Network’s CO-PIP-99 also closed, establishing a Data Marketplace with Douro Labs as operator, enhancing decentralized data accessibility.

API3 DAO’s Proposal Cycle #22 has concluded, marking the end of its operational funding deliberations. Meanwhile, Pyth Network’s OP-PIP-100, proposing the migration from Pyth Core to Pyth Pro, remains active and open for community input.

Scroll DAO’s Treasury Allocation Dashboard is now live, enabling transparent monitoring of treasury funds, while a new proposal for the ChatterPay Ambassador Referral Program seeks to incentivize community engagement and growth. Meanwhile, Curve Finance is reviewing a grant application from Tangent Finance, highlighting ongoing efforts to support ecosystem development through funding initiatives.

Metaplex has concluded both its official treasury proposal disbursement and a related test, marking progress in its financial governance processes. Meanwhile, Scroll has closed its DCP 1 application thread, finalizing discussions on the state of Scroll research and its implications for the ecosystem.

Convex Finance’s active Curve Ownership DAO vote (ID: 1356) concludes today, determining governance control over Curve assets. Simultaneously, Injective’s token metadata updates for ATOM and stATOM are also concluding today, impacting how these assets are represented and managed on the platform.

Yearn Finance closed discussions on moving to a new channel and finalized YIP-90, focusing on the yETH Optimistic Recovery Plan. Meanwhile, Mantle is actively debating a phased treasury burn proposal for MNT, targeting a 3–8% reduction over 12–24 months.

Yearn Finance has closed discussions on implementing a proactive smart contract security layer to enhance protocol safety and released its Yearn 2025 Recap Letter outlining strategic priorities. Additionally, the DAO concluded its review of legal compliance measures related to tax obligations to ensure regulatory adherence.

Ethena’s Reserve Fund remains active, with updates on its status extending into early 2026. Polygon is reviewing an active grant request from GuessMarket.com to expand its permissionless prediction markets on the network.