Proposal updated to highlight short-list of selected delegated for the quarter
Second update to adjust recipient addresses of Stable Labs & LBS at their request.
Author: Marc Zeller @marczeller - Aave Chan Initiative
This ARFC proposes the expansion of the “Orbit” delegate platform initiative, transitioning it from being funded by the Aave-Chan Initiative (ACI) to being funded by the Aave DAO. The goal is to enhance the sustainability and independence of the program, ensuring continued support for active delegates in the Aave community.
The pilot phase of Orbit, funded by ACI, has been a success in its first quarter. Recognizing its positive impact, there’s a need to expand and generalize the program, ensuring its longevity and alignment with the broader Aave community goals.
The proposed funding for the Orbit initiative remains at $5,000 per month, with payments to be made in GHO stablecoin. Orbit operates on a quarterly basis, with eligibility criteria defined for each quarter.
For the upcoming quarter, the eligibility criteria will mirror that of the [ARFC] Quarterly Gas Rebate Distribution - August 2023. In subsequent quarters, a threshold of voting power and diversity of delegation will be introduced to ensure the program’s integrity and to prevent potential abuse. To fund the Orbit initiative, stablecoins from the Aave DAO treasury will be used to purchase GHO on secondary markets, which is expected to have a minor positive effect on the GHO peg.
Note: Tokenlogic transitioned from an old to a new delegate address during last quarter, their cumulative score considering both addresses is matching other delegates scores
here’s the list of delegates accepting participation in Orbit. for the next quarter
If this ARFC gets governance support, the implementation will consolidate some Aave DAO treasury stablecoin holdings to acquire GHO on secondary markets. Subsequently, a new set of streams of 15,000 GHO will be created to the eligible delegates’ addresses for a period of 90 days.
The Aave Chan Initiative is not affiliated with or paid by any third parties to publish this ARFC.
- Gather community feedback on this ARFC.
- If consensus is reached, escalate this proposal to the ARFC Snapshot stage.
- If ARFC snapshot outcome is YAE, escalate to AIP stage.
Copyright and related rights waived via CC0.