Notional Finance Delegate Application

Notional is launching its delegate program!

Why a delegate program?

The introduction of Notional V3 on Arbitrum, along with the imminent release of V3 on Mainnet, marks a significant milestone in the protocol’s evolution. In light of these developments, we believe it is now an opportune time to invest in broadening and deepening participation in Notional governance.

As Notional V3 continues to expand and accommodate a wider range of markets, the intricacies of tracking DAO proposals will become more challenging for token holders. The introduction of a delegate program will offer token holders the opportunity to maintain their influence within the DAO without the need to engage directly with every proposal.

We believe that fostering an ecosystem of high-quality delegates will benefit the protocol over the long term by increasing Notional’s decentralization and resilience.

What will delegates do?

Notional delegates will contribute to the protocol’s economic and risk management initiatives. Delegates will work toward ensuring the optimal functioning and sustainability of the Notional protocol through parameter optimizations thereby safeguarding the interests of community members and token holders.

Delegates will:

  • Propose improvements to how the protocol/DAO works;
  • Propose/review parameter changes;
  • Propose/review new asset listings;
  • Propose/review incentive allocation proposals;
  • Review and provide feedback on Notional Requests for Comments (NRCs);
  • Review and actively vote on Notional Improvement Proposals (NIPs);
  • Interact with the Notional community and with Notional users;
  • Foster new initiatives.

Who can apply to become a delegate?

Any community member who is eager to make an active contribution to Notional is welcome to apply. It is important to bear in mind that delegates will need to dedicate a considerable amount of time to engage in Notional’s governance.

Let’s note that early delegation candidates will likely benefit from higher NOTE delegation from current token holders.

Delegates are encouraged to read the Notional Governance Docs, User docs, Asset Onboarding docs, and risk docs.

Recognized delegates

In order to encourage active delegate participation in governance, the DAO will be able to elevate a delegate’s status from community delegate to recognized delegate.

To qualify as a recognized delegate, a community delegate must satisfy the following criteria:

  • Has been active as a community delegate for at least 4 months;
  • Has voted on at least 75% of NIPs in the prior 4-month period (Abstain votes qualify);
  • Has accumulated at least 250,000 NOTE in delegated voting power.

After the initial 4-month period, the DAO will formalize the onboarding and offboarding conditions for recognized delegates.

Recognized delegates compensation

Recognized delegates will not be directly compensated during the first 4 months of the delegate program (Dec 2023 - Mar 2024). We think it is preferable for NOTE holders to be able to see which delegates actively contribute and bring value to the protocol without being directly compensated initially.

After this initial 4 month period, the DAO will be able to more effectively assess how it should compensate its top recognized delegates on an ongoing basis. For example, the DAO could compensate a certain number of Notional’s recognized delegates based on how much voting power they amassed.

How to apply?

To apply, delegates must reply to this discussion with their delegate application. Applications must follow this template:

Forum handle:
Twitter (optional):
ETH Address:
ENS name (if applicable):

Delegate Presentation: (Detail any previous delegate experience, projects you have contributed to, and your qualifications in governance, risk management, DeFi)

Share how you plan to contribute to Notional: (Which principles do you intend to vote by? Why should NOTE holders delegate their votes to you)

Although early delegates will benefit from more visibility. Delegate applications will always be open. Once you have submitted your Delegate Application, we encourage you to publicize your candidacy and reach out to NOTE token holders to increase your delegation voting power. One can track delegates voting power via Notional’s delegation Dashboard.

How to delegate?

NOTE token holders can delegate their votes to delegates using the following guide.


Anthias Notional Delegate Application

Name: Anthias
Forum Handle:
Twitter: @anthiasxyz
ETH Address: eth:0x65418dB502e56432121329507aCDE3c0c068c99E

Delegate Presentation

About the Anthias Team

Anthias is a risk management organization that also builds tools for easily monitoring liquidation risk for DeFi borrowing/lending markets. We recently posted the collateral asset onboarding proposals for cbETH, GMX, ARB, RDNT, UNI, LINK, and LDO onto Notional V3.

The Anthias team launched from the Dartmouth Blockchain club. Our philosophy is to continually provide value to the blockchain ecosystem through shipping useful products and research. We have extensive experience in DeFi, having contributed to multiple DeFi protocols. We have also shipped multiple grants for other lending protocols including Aave, Euler, and Compound V2 + V3.

How Has Anthias Supported Notional Thus Far?


Product Testing

  • The Anthias team worked on product testing for Notional V3 both in the beta stage of the product and post-launch. Our team worked with the Notional team to provide feedback on the user interface, user experience, and risk views.

Previous Work Showcase / Who Supports Anthias?

  • Aave
    • We created our initial dashboard in June of 2022 to monitor liquidation health on Aave after the Terra/Luna collapse.
    • We completed our first grant for Aave in October of 2022. In this grant, we expanded our initial Aave dashboard to allow users to view historical liquidation health data in order to develop an even clearer picture around market risk.
  • Euler
    • We first worked with Euler starting in July of 2022 on monitoring liquidation health for their users.
    • We then continued work with Euler via another grant in January of 2023. With this grant, we expanded our tool suite for Euler to do Value at Risk monitoring and simulations, in-depth asset and health score filtering, and a more granular wallet view to show covariance among assets individual users were borrowing and supplying.
  • Compound
    • We began working with Compound V2 and V3 in March of 2023 after being requested by their community to monitor liquidation health and provide tooling to assist with this.
  • Exactly
    • We were approved for our first integration with Exactly Protocol in February of 2023. This grant is to integrate our initial liquidation health dashboard with Exactly on both Ethereum and Optimism.
  • UwU Lend
    • We began supporting the UwU Lend community in May of 2023 with risk management work and liquidation health monitoring.

See more of our past work on our Twitter.

Why We Are Applying for NOTE Delegation

As a Notional delegate, we will place an emphasis on risk management and assisting with the processes to lead to further decentralization and governance participation. Along with this, there are a number of risk vectors in borrowing and lending protocols, including smart contract risk, price oracle manipulation risk, governance / pool management risk, and market risk (liquidations + bad debt). As protocols like Notional continue to onboard more users, it is increasingly important to safeguard the protocol and its users for healthy activity. Safeguarding users against unnecessary/excessive risk ensures the long-term sustainability of the protocol, as well as an improved user experience.

Principles Anthias Will Vote By:

  1. Risk must be accounted for in all proposals. This will factor most heavily into our vote. The primary risk we will seek to mitigate with our vote is direct economic risk to Notional users. The second risk we will seek to mitigate with our vote is risk of centralization, which could lead to the primary risk above.
  2. Decentralization as a core tenet
  3. Structure and process. We will support proposals that follow the guidelines outlined in the Notional Docs, and we will assist the community in making sure all proposals accurately outline their objectives and risks as well as follow a structure that all Notional governance participants can easily follow.

If you would like to delegate your NOTE to us, please delegate to our address here: eth:0x65418dB502e56432121329507aCDE3c0c068c99E

If you would like to chat with the Anthias team, feel free to reach out to Charlie in the Notional Discord at 0xBroze.

Thank you! - The Anthias Team


Name: Mikhail
Forum handle: mike0182
Twitter: @MikeKuptsov
ETH Address: 0xCd0D4CDb238Eec15Fcf4ff9d13d5a59051E507D7

Delegate Presentation:
I take part in DAO governance and am still an active delegate in such projects as Arbitrum, Optimism, Mina, Gitcoin, etc.

Share how you plan to contribute to Notional:
I’m a long-time supporter of Notional, an early LP and votings participant, as well as a fairly large NOTE holder, so it is in my interests to work on the development of the project and its popularization and recognition in the crypto community.


Name: SCapital
Forum Handle: SCapital
Twitter: @SCapitaldotFi
ETH Address: eth:0xD09f16830172E6073e8E5EE5053f35010f1c7d7A

Delegate Presentation
About SCapital
SCapital is a pioneering force committed to innovation, exploration, and leadership. We extend our involvement beyond mere investment, actively participating in governance and advisory roles to ensure continuous growth.

Our investment portfolio is primarily concentrated in the DeFi sector, encompassing platforms such as Notional, Aave, Uniswap, Dodo exchange, Curve, Liquity and more. We are active participants in DeFi, with a particular focus on Ethereum. To guide our investment and operations in the DeFi sector, we employ a rigorous research methodology, delving deep into the mechanics of a DeFi protocol before making any investment or operational decisions.

Recently, we published a comprehensive and in-depth article on Notional on Medium, which can be accessed here: []

Why SCapital is applying for NOTE Delegation
SCapital has been an active participant in Notional since its early days. With the release of Notional V3 and its imminent launch on the Ethereum mainnet, we believe it is an opportune time for both SCapital and Notional users to start participating in Notional’s decentralized governance. As experienced DeFi participants, we understand the complexities and challenges small token holders face when raising proposals or voting on them. We aim to share our extensive knowledge and expertise on the governance procedure.
Therefore, we are calling for your delegation.

Principles SCapital will vote by:
The safety of capital for all Notional users is our primary consideration when participating in the governance process. Any proposal or vote submitted by SCapital will prioritize safety, followed by capital growth and protocol development.