Title: [ARFC] Orbit Program Renewal
Date: 2024-02-05
Author: Marc Zeller - Aave Chan Initiative (ACI)
Summary
Proposing the renewal of the Orbit program for recognized delegates. Compensating them with GHO and ETH reimbursement of Gas costs associated with their governance activity.
Motivation
With the transition to Governance V3, a significant feature introduced is gasless voting via Gelato integration on the DAO-run governance app, making it easier for delegates to participate without the burden of gas costs.
This innovation prompts the proposal to discontinue the general gas rebate program, However, recognizing the continued necessity for proposal creation and payload deployment activities, the proposal suggests maintaining targeted gas rebates for these specific actions. These tasks are now streamlined under the ACI’s Dolce Vita product, offering a focused and efficient mechanism to manage and reimburse the gas expenditures associated with governance contributions.
To accurately track and reimburse gas expenditures, the proposal leverages open-source scripts initially developed by Josep Bove, now part of the ACI team. These scripts have been adapted for compatibility with Governance V3, ensuring transparency and accountability in monitoring gas costs incurred by delegates during their governance activities.
Moreover, the proposal introduces the Orbit Tracker app, which was developed by Martin, a new front-end engineer at ACI. This tool provides a comprehensive overview of recognized delegates, detailing their voting power and participation rates, thus enhancing the visibility of delegate contributions and engagement within the Aave ecosystem.
The eligibility criteria for Orbit renewal emphasize participation rate, power, and platform maturity, ensuring that only the most dedicated and impactful delegates are compensated. These criteria are designed to balance the quality of governance participation with the cost-effectiveness of the Orbit program.
To define eligibility for renewal of Orbit, we propose the following requirements:
- Not an Aave Service Provider
- Minimum 20k voting power
- Minimum 70% participation rate
- Minimum 120 days since delegate platform creation
The following table outlines the proposed compensation for eligible delegates matching the requirements:
| Delegate Platform | Retro-Payment (GHO) | New Stream (GHO) | Total Cost (GHO) |
|---|---|---|---|
| EzR3al | 5000 | 15000 | 20000 |
| Stable Labs | 5000 | 15000 | 20000 |
| LBS Blockchain | 5000 | 15000 | 20000 |
| Michigan | 5000 | 15000 | 20000 |
| Total | 20000 | 60000 | 80000 |
In terms of gas rebate, we included Gov V2 reimbursement & payload-related activity in the following table:
| Delegate / Service Provider | Gas Used (ETH) |
|---|---|
| ACI | 3.365 |
| Tokenlogic | 0.586 |
| Michigan | 0.276 |
| Wintermute | 0.2518 |
| LBS | 0.031 |
| StableLabs | 0.0342 |
| ezr3al | 0.3833 |
| Total | 4.9273 |
Relevant Links
- Orbit tracker app
- Gov V2 script output
- Gov V3 script output
- Gov V2 script code
- Gov V3 script code
Specification
- Period Coverage: Blocks 18040579 (Sep 1st 2023) to 19162696 (5th feb 2024)
- Eligibility Criteria: Non-Aave Service Providers, minimum 20k voting power, 70% participation rate, and 120 days since platform creation.
- Budget: 80000 GHO and 4.6755 ETH
Next Steps
- Gather community feedback on this ARFC.
- If consensus is achieved, move this proposal to the ARFC snapshot stage.
- If the ARFC snapshot outcome is YAE, proceed to the AIP stage for implementation and funding allocation in cooperation with Aave Finance service providers via an ad-hoc AIP vote or bundled in one of their treasury managements AIPs.
Disclosure
The Aave Chan Initiative is independent and has not received any form of compensation from related parties for the drafting of this proposal.
Copyright
Copyright and related rights waived under Creative Commons Zero (CC0).
