[ARFC] Chaos Labs - Payment Collection Request

Governance
1

Summary

Chaos Labs requests the collection of a $350,000 delivery-based payment, as approved by the DAO in our service provider proposal.

Motivation

The payment structure for Chaos’ initial engagement with Aave, starting in November 2022, amounts to a total of $850,000, divided into:

  • $500,000 base fee, paid in USDC and streamed linearly over the course of the contract
  • $350,000, to be paid in AAVE tokens and contingent on the delivery of Chaos’ products:
    • $175,000 paid in AAVE tokens payable upon delivery of the Aave Parameter Recommendations Tools (7-day TWAP)
    • $175,000 paid in AAVE tokens payable upon delivery of the Aave Asset Listing Portal (7-day TWAP)

Upon completion and delivery of these deliverables, and in consideration of our ongoing work and services rendered to the DAO, we kindly request the delivery of the delivery-based payment.

Resources:

Specification:

A one-time transfer amounting to 6,541 $AAVE ($350,000 using 7-day TWAP, $53.50, calculated on 06.23.2023) will be made to a Chaos Labs-controlled account (0xbC540e0729B732fb14afA240aA5A047aE9ba7dF0) as the recipient.

In terms of technical implementation, the AIP will call the transfer()method of the IAaveEcosystemReserveController interface to create a payment of 6,541 $AAVE.

Next steps

As Snapshot and AIP approved the original service provider proposal, we are targeting an AIP on Wednesday, June 28th.

7 Likes
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Thank you @ChaosLabs for your continued support to the DAO. Happy to vote yes on this request.

1 Like
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AIP-254 has been published and voting starts in 24h.

Thank you in advance for your participation in the vote.

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